The cryptocurrency market is growing at a very fast pace. Every year, we are being introduced to new cryptos, each of which is developed for a specific purpose.
The cryptocurrency we are talking about here is Tron or TRX crypto, which entered the market in 2017. Since its launch, it has gained a decent number of followers. With its unique technical aspects, it has made its way to the top 10 cryptocurrencies in the world. What’s more impressive is that it took just two years for Tron to achieve this status.
Brief Overview of Tron (TRX)
Tron can be described as a decentralised virtual platform that is developed to help the decentralised internet. In terms of objective, it is similar to Ethereum. It enables Dapp developers to utilise and create complex protocols through smart contracts on its native blockchain.
This platform is capable of handling up to 2000 transactions per second. But the best part of Tron is that it has zero transaction fees. With the help of this platform, you can transfer millions of dollars to any corner of the world in just seconds, without any charges.
Tron (TRX) ICO Raise
Tron arrived in the market in 2017 and raised around $70 million for the development of the Tron ecosystem. During the fundraiser, Tron investors were given TRX tokens in exchange for their ETH or BTC. Initially, the market value of Tron was $0.0019.
TRX is the primary token used on the Tron platform. These tokens live in the MainNet and help make a transaction on the blockchain easy.
By 2018, Tron occupied a position in the top 10 cryptocurrencies in terms of market value. This not only attracted more investors but also motivated the developers to launch their blockchain. This helped Tron to shift the ERC-20 tokens on the Ethereum network to TRX tokens on the native platform.
Where to buy Tron?
Tron is currently one of the top cryptocurrencies in the market. Therefore, it is available for trading on many of the major exchanges. Some of the popular crypto platforms where you can buy Tron are:
- Uphold: This platform is best for investors in the USA. But it prohibits European and UK residents from buying TRX.
- BitPanda: This is ideal for users residing in Europe as it doesn’t allow users from any other jurisdiction.
- Binance: This platform is best for users residing in the UK, Singapore, Australia, Canada, and most of the world. However, USA based users are prohibited from buying TRX.
How to store TRX tokens?
There are two ways to save your TRX tokens – mobile wallets and hardware wallets.
The good thing about mobile wallets is that it is user-friendly and gives you instant access to your tokens. On the other hand, you can use a hardware wallet to hold major investments.
Tron is currently one of the top cryptocurrencies available out there. Its market value is growing at a very steady pace and therefore, investing in it is a good idea.