Buy TRON (TRX) Coin 2021: Price, Forecast & Guide
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Only since the beginning of 2021 has TRX picked up speed again and the price is rising steadily. This could also be due to the fact that a cooperation with the Asian e-commerce giant Alibaba is being discussed.
We have taken a look at what exactly is behind the currency, whether an investment in TRON is actually worthwhile and where one would best buy TRX in this case. We also give a detailed step-by-step buying guide. Everything about buying TRON in this article!
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Tron key data
Key data | Tron |
Name / symbol | Tron (TRX) |
Tron website | tron.network |
Tron provider | eToro, Libertex, Plus500, capital.com |
Tron founding year | 2017 |
company | Tron Foundation Ltd. |
Tron facts | Mining - No |
Fact check: What is TRON?
Tron was founded in 2017 by the Singapore-based Tron Foundation. It is a blockchain-based, decentralised platform that aims to simplify digital entertainment. To this end, it provides decentralised storage facilities to enable easy and cost-effective sharing of digital content.
The TRON mainnet was launched in 2018 and has since been developed into a blockchain-based operating system. The Tronix TRX are the crypto tokens of the Tron blockchain.
TRON Price Forecast
There are some developments coming up in 2021 that could influence the price.
Pros
Cons
Who are the founders of Tron?
The founder of Tron is Justin Sun from China. Justin Sun is an entrepreneur and is known for his connection to Jack Ma, the founder of Alibaba.
He is also the head of Rainberry Inc, formerly known as BitTorrent. In September 2017, he founded the Tron Foundation Ltd. based in Singapore and was able to recruit several developers from Alibaba.com right at the start.
Why was Tron invented?
In a way, they have made it their mission to return the internet to its original meaning and idea. It's about freedom, independence and full control over one's own web presence. Through Tron, it will be possible to deliver data and run web applications, to defy internet giants like Google through the high capacity of the system and to send a lot of data worldwide.
How does Tron work and what is the technology behind it?
Similar to other blockchains that support decentralised applications, such as Ethereum, Tron allows users to create their own tokens based on the TRX protocol and use them for their own individual applications and platforms. This makes it possible for data to be hosted on the network and for users to pay the original creators quite directly for the use of the content.
Later, the possibilities of the Tron network will be expanded: The possibilities will one day include the integration of games, for example, which would have completely new possibilities for building virtual worlds through the special network architecture than with traditional server and client technology.
The Tron technology will be rolled out in several phases, each building on the other. At its core, the network consists of three different layers: the storage layer, the core layer and the application layer.
An important advantage for those who want to use the network for payment is that transactions on the Tron network are completely free in almost all cases.
In addition, they are said to be executed very quickly and the Tron blockchain theoretically offers support for tens of thousands of transactions per second, giving it the potential to be used as a real means of payment worldwide.
TRON Guide: How to buy Tronix easily and safely
The premium partner of Eintracht Frankfurt and sponsor of many other companies is the regulated and licensed trading platform eToro. This well-known provider is ideal for buying Tronix CFDs. Moreover, eToro offers a nice additional feature with social trading. Do you want to buy Bitcoin Cash with credit card, PayPal or by instant bank transfer? Almost all deposit methods are possible with our test winner. We will guide you through the process step by step.
Step 1: Create an account with eToro
Our buttons will take you to eToro's platform, which you may have to change. Then click on "Register now" to enter your personal details in the next window. Use a secure password and finally accept the terms and conditions to create an account with eToro.
Step 2: Deposit money
You will be taken to eToro's homepage. From here, select the "Deposit money" option - you can deposit up to €2,000 without verification. However, sooner or later you should still verify yourself in order to be able to use all functions to the full extent.
Now all you have to do is select your desired method from the payment methods and make the payment afterwards. After that your money should be available.
Payment methods available at eToro:
Payment method | Possible |
|---|---|
Buy Tron with bank transfer | ok |
Buy Tron with a credit card | ok |
Buy Tron with Neteller | ok |
Buy Tron with Skrill | ok |
Buy Tron with PayPal | ok |
Buy Tron with online banking | ok |
Buy Tron with Rapid Transfer | ok |
Buy Tron with Sofort | ok |
Buy Tron with a debit card | ok |
Step 3: Buy Tronix CFD
After you have successfully deposited money, you can start buying the Tronix CFD on eToro. Click on "Markets" in the navigation menu and then on "Crypto". Here you will be shown a number of cryptocurrencies and all the necessary details about each one.
To buy the desired Tronix CFD, you must click on "Buy" and then on "Open trade".
You have just bought your first Tronix CFD on eToro. We wish you every success with it!
Still haven't opened an account with eToro?
What makes Tron unique?
Tron is unique in that the token fills a very specific gap and does not simply try to be a universal means of payment. The special thing about the Tron protocol is that it can be used for entertainment and at the same time allows users to freely publish whatever they want and not be censored due to its decentralised nature.
In addition, the network offers the possibility to store data in the long term and to deliver it quickly to users via the network nodes all over the world. Another important feature is certainly the possibility of carrying out transactions completely free of charge and very quickly. This feature will be used later, for example, when users on Tron can pay artists and content creators in a flash with small amounts. But even now, every Tron owner can benefit from the free transactions.
How is the Tron network secured?
Basically, Tron has been based on its own blockchain system since July 2018, which is now completely independent of Ethereum and is supposed to have a very high transaction capacity.
However, there are or were also gaps in Tron's security infrastructure: in May 2019, it became known that a single computer would have been enough to paralyse the entire blockchain for some time if requests had been sent from this PC to the network in the right way to overload servers.
Can Tron be used anonymously?
The transactions that are carried out on Tron are anonymous, but of course this only applies as long as you look at the network itself. If you want to buy Tron via a broker or another web platform, you will have to give your identity in most cases, which means that at least this provider could then make connections to your person.
However, once you own Tron tokens, it is possible to carry out transactions with a relatively high degree of anonymity in the network, but due to the nature of the blockchain, it is also not possible to proceed completely anonymously here, since, as the name suggests, blocks with information about transactions are publicly available and are linked together like a chain in order to guarantee the functionality of the network.
Can Tron be mined?
The term staking should already be familiar to some. With Tron, it is possible to participate in Staking by holding a certain minimum number of Tron Tokens and thus help to verify the transactions of others. In return, you receive a small fee as payment. In this process, however, no new coins are mined or mined, you are only paid from the existing Tron reserves of the Tron Foundation. New tokens cannot be created.
Tron Wallet. Which is the right one?
As with other cryptocurrencies, a Tron wallet is necessary to store Tron tokens safely. Due to the huge popularity of the cryptocurrency Tron, there is a very large amount of wallets to freely choose between. For example, Tron is supported by the two popular hardware wallet manufacturers Tresor and Ledger, and many popular mobile wallets such as the Exodus Wallet also support the token.
The different types of wallet all have certain advantages and disadvantages, so before you decide on a wallet, you should research exactly which type of wallet is best for you.
Should you buy or trade Tron?
When it comes to the general question of whether one should trade or buy Tron, our assessment is basically: yes.
Tron seems to be an innovative and emerging token that is, after all, in the top 20 of the largest cryptocurrencies by market capitalisation. New features are being introduced all the time and there is an ambitious plan for the future. Soon, the currently very popular NFTs will be available on Tron and new features are also constantly being added to Tron in general. This makes the token very interesting for both short-term trading and longer-term investment.
Tips when buying Tron
When buying Tron, it is important to follow the general tips and tricks for buying cryptocurrencies. If you are mainly interested in the performance of the token, you can confidently bet on a CFD or certificate on the currency, which you can buy from brokers such as eToro. This has the advantage that you can enter and exit within seconds and trade at 0% trading fees with eToro. In addition, you do not need your own wallet with this method, as the countervalue is managed by the issuer.
However, if you really want to own the currency on your own wallet, you have to go the route via a crypto exchange and exchange euros or other cryptocurrency and then send the purchased Tron tokens to your own Tron wallet. Tron offers the advantage of free transactions, so that no money should be lost in this process at least.
In both cases, however, you should make sure that you choose reputable providers: with regard to brokers, it is important that they are state-regulated and licensed, and with regard to crypto exchanges, the same applies. You should only entrust your money to reputable and well-known providers.
Where to buy TRON? These options are available
There are several reasons for this, which we will go into in a moment. But brokers and exchanges have their own advantages and features, which we will now use to differentiate them. Please read this section carefully and make sure you understand the features before you invest in Tron. So let's move on to these differences.
Differences between Tronix CFD brokers and Tronix exchanges
Tronix CFD Broker
Pros
Cons
Tronix stock exchanges
Pros
Cons
After the TRON purchase
How can you hold TRON safely?
How can you sell TRON again (ideally at a profit)?
Store TRX safely
If you have bought real TRX, you have to store them in a wallet. At an exchange, you automatically receive this with your account registration, in which you could theoretically store your coins. However, you should get a separate wallet for longer-term storage.
Otherwise, the exchange and not you will manage and control the private key of your wallet. And whoever has the private key has the power over a wallet.
Of course, reputable and respected exchanges use all possible measures to protect these keys. Nevertheless, a minimal risk can never be completely excluded. If your key is stored and managed by the exchange, it could be stolen - and whoever has the key could steal the coins in your wallet.
Sell TRX
At some point you will probably want to sell your Tronix. This process is very similar to buying. You can either do this on the platform where you bought the TRX or you can look for another one that offers better conditions for your case. This fee comparison gives you a good overview of the best exchanges currently on the market.
Here's how real TRX and TRX CFDs differ
If there are two ways you can buy Tronix, there are obviously two different types of cryptocurrency:
If you want to trade "real" TRX, you do it on TRX exchanges.
If, on the other hand, you want to trade TRX CFDs, i.e. financial instruments that are linked to the TRX price, then you do so with TRX brokers.
Here are the advantages and disadvantages of both types of investment:
TRX CFD
Pros
Cons
Real TRX
Pros
Cons
TRON (TRX) price performance
After 05 January 2018, the hype steadily decreased within 4 weeks, so that the TRX price was back at $0.04 in mid-February
In early May 2018, there was another big pump to $0.08, which slowly dropped back to the $0.02 level within 3 months.
By July 2019, the Tron price managed to stabilise at $0.039, but lost ground in the 2 weeks after to around $0.02
Since autumn 2019, trading volumes have been rising steadily, but this has had little impact on the price, which has since fluctuated between $0.013 and $0.021.
From 2020, the price then rose steadily again until it reached its highest level since the hype in 2017 at the beginning of April 2021.
Should you invest in TRON?
If you look into the background of Tron, you know that this is by no means an ordinary digital currency, but a thoroughly revolutionary concept.
Our conclusion on buying and selling TRON
However, the TRX should not be underestimated at this point: On the one hand, because the digital currency is in 11th place of the top 100 cryptocurrencies, and on the other hand, because you can get a lot of coins for little money.
No matter whether you want to buy real Tron or trade with Tron CFD - with eToro you are at the right address with both strategies. The state-regulated and licensed provider offers a user-friendly platform, free demo account and excellent.
Fair and transparent fee structure
First-class customer support
Variety of cryptocurrencies, incl. Tron
Free demo account
FAQ
TRON is a platform for decentralised applications and smart contracts based on a blockchain. It is considered a blockchain developed in China. Tronix (TRX) is the associated cryptocurrency.
The cryptocurrency and platform is developed by the TRON Foundation. The Tron Foundation Limited is based in Singapore.
On the one hand, TRON can score points due to its many partnerships with global companies. In addition, TRON has a large community and is constantly present due to strong marketing measures.
You can buy TRON on marketplaces for cryptocurrencies. First, an account must be opened and the identity verified. After successful verification, one must then deposit money with a preferred payment method at the marketplace in order to buy TRON. If the desired marketplace does not offer a wallet service, one may also need to set up a digital wallet to store Tron.
