In the recent days, many altcoins have shown huge bull run and one of them is Tronix a.k.a. TRON(TRX).
Tron is a project which aims to be a decentralized entertainment content platform based on blockchain technology. It is established by a non-profit Singapore-based foundation.
Tron decentralized platform will help content and app creators cut-off middleman like Google play and get the funds directly from the end users.
Since a few giants like Google, Facebook, & Wechat controls user data and content, TRON will give the ownership of the content back in the hand of the creators.
This ecosystem is fueled by TRON coin i.e. TRX.
Though TRX is not an old coin, in the last few days it shot up more than 400% positioning in top 10 coins with a market cap of over $10 Billion.
This huge bump in price was due to the announcement of various business partnerships.
Since the project is getting good support from the community, the prices might increase more.
Moreover, A lot of people are struggling to find the best ways to buy Tron. So, I though know not share a quick and easy guide about how to buy TRON(TRX).
So without a further ado, Let get started!
How To Buy Tron(TRX)
There are various ways to buy TRON but we will discuss only the most reliable and working methods.
First of all, let’s see how you can buy TRON, then I will tell you about storing the same.
- Register on Coinbase
- Register on Binance
- Buy Bitcoin/ETH on Coinbase
- Send Bitcoin To Binance
- Buy TRX on Binance
Buy Bitcoin or Ethereum
To Buy Bitcoin, We are going to use, Coinbase as it is one of the best Bitcoin exchange in the world. Currently, Coinbase is available only in 32 countries, hence you can use Coinbase alternatives as well.
Getting started with Coinbase:
- Go to Coinbase and Signup (If you signup with this link, we both get $10 when you make your first $100 transaction on Coinbase)
- Just verify your email and Government ID.
- Now, verify your Card or Bank account. Transfer the funds if you wish to use Bank Transfer.
- Now, Enter the amount you wish to buy.
- Click on “Buy“
That’s it! Now you have Bitcoin/Ethereum in your Coinbase account. We will transfer them to Binance, once the account is set up.
Now let’s move on to Binance Exchange.
Binance is a decentralized cryptocurrency exchange which allows you to trade one crypto to another. They do not support fiat currency, hence you need to transfer BTC/ETH/BNB in order to buy any altcoin.
Getting started with Binance:
- Visit Binance and Register an account
- Verify your email and set up 2-Factor authentication for enhanced security of your account.
- Now, Hover over “Funds” in the top header and click on “Deposit”.
- Type “Ethereum” in the search box. Click “Deposit” and you will see a wallet address.
- Now, Copy this Ethereum address.
You can also go ahead with our Binance Review for detailed process.
Sending ETH from Coinbase to Binance:
- Go to Coinbase
- Click “Accounts” and finds your Ethereum wallet in the left. Click “Send”
- Now, Carefully paste the Binance Ethereum address in the ‘Recipient’ box.
- Enter the amount and click “Continue”.
That’s it! Just wait for a few minutes till you can see ETH balance in Binance account.
Make sure that you have entered the correct Address on Coinbase. Do not enter the address manually, just Copy/Paste it to minimise chances of any error.
Buying Tron on Binance:
Once the funds show up in your account, it’s time to Buy TRON using ETH.
- Click here to go to TRX/ETH trade page.
- Just enter the amount of TRX and Price at which you wish to buy.(Use market trade as it is much simple)
- Click on “Buy“.
- You will instantly get TRX in your Binance TRX wallet.
You can check your coins by clicking on Funds, then type TRX in the search box.
So, this is it! Now you own TRX.
Storing your TRX
If you are planning to sell the coins and book the profit within a few days, then I would recommend you to keep the funds on the exchange itself. However, If you want to keep the coins for a long term, then I would recommend you to send it to MyEtherWallet.
I hope you must have understood how to buy TRON(TRX). If you still have any questions, feel free to comment below and I will be happy to reply back.
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