How To Buy Tron (TRX) Cryptocurrency – Step by step guide

So you have read up on TRON and are super excited about the project. You are likely to have two simple questions: How to buy TRON? And where to buy it? You should know that if you want to invest in TRON you will buying the TRX token. In this article we will outline our favourite ways to buy TRON and show you the safest way to store TRX.

Are You Too Late To Buy TRON?

TRON (TRX) silver coin graphic

Tron first hit cryptocurrency exchanges at a price of  $0.002051 on 13th September 2017. TRX went on a massive run in early January 2018 and saw an all time high of $0.287 per TRX token. Since those mind blowing highs, TRX has retraced all the way back down to  $0.037 cents per token at the time of writing.

At Total Crypto, we strongly believe in avoiding buying at all time highs. This stops us buying the top of the market. Although we are optimistic on the future of cryptocurrencies, we cannot get away from the simple maths: A 50% fall in the price of a crypto means we need a 100% increase to break even. It is simply more profitable to wait to buy into great projects at lower prices. We think it’s better for our sanity too.

TRON is a relatively new cryptocurrency and the project has a 10 year roadmap. If you are looking at adding TRON to your cryptocurrency portfolio, we think you are still relatively early to the party. The most important thing is the price at which you enter your TRX position.

How High Could TRX Go?

How high could TRON (TRC) go? graphic

In short, no one knows. What we can say is that the ceiling for TRX’s price will be determined by the overall cryptocurrency market cap. The best possible situation for TRX is that it gains 100% market share in cryptocurrency (almost impossible).

On June 12th 2017 Ethereum hit an all time high in terms of its dominance. It managed to take a 32% share of the entire cryptocurrency market, which is the highest ever achieved by any crypto (other than Bitcoin).

It’s been suggested by commenters that the adoption rate of cryptocurrency is just 3.5% and we know the overall cryptocurrency market cap hit $833 BN on Jan 7th 2018.

We also must consider the fact that 71% of Bitcoin wallets hold only 0.13% of the total Bitcoin supply. The bottom 71% of BTC wallets all hold less than 0.1 Bitcoin. These stats show how the estimated 3.5% adoption levels are slightly misleading, as most adopters have only invested a nominal amount.

There is no doubt that cryptocurrency is a new technology, with many arguing that the technology is on the same level as the internet. We can see that successful new technologies tend to achieve 50% > 90% adoption levels. Cryptocurrency still has a lot further to run, if it is truly a disruptive and world changing technology. We are still early.

New technology adoption rate graph

At the time of writing, TRX has around a 1% share of the total cryptocurrency market. For fun we will take the TRX price at the cryptocurrency markets all time high on 7th Jan 2018 and assume that if the adoption rate increases tenfold, that the overall crypto market cap and TRX price will too.

How high could TRON (TRX) go calculations

How To Buy Tron (TRX) – Our 3 Best Ways Explained

We will show you three ways to get exposure to TRON. It’s totally up to you to decide which one is right for you.

  1. Our first option is for those that do not hold any cryptocurrency and what to buy with fiat currency such as USD, GBP or EUR. This method will also show you how to store your TRX safely. This will involve creating accounts at Coinbase and a cryptocurrency exchange. As well as setting up a TRON cryptocurrency wallet.
  2. Our second way is for those that already own cryptocurrency and want to trade this for TRON. We will show you the easiest exchange to use.
  3. Our final way to get exposure to TRX is though the IQ Option CFD Broker. This is actually the simplest way to get exposure to TRON, as you will only need one account and can deposit fiat currency directly.

TotalCrypto.io Info
Terminology: A CFD stands for ‘Contract For Difference’, which is a contract backed by TRON. This means you are exposed to the price fluctuations of the asset, without actually owning it or having to store it yourself.

Reading: IQ Option is the perfect option for those that want to trade as well. If you are interested in finding out more about trading, just check out our Trading 101 Beginners Guide!

Buying Tron With Fiat

If you are wanting to own and store TRON, you will need to read the whole guide and start with Coinbase. If you are looking to trade TRX or simply want to get exposure through a single account, just skip ahead to IQ Option

Buying TRX With Crypto

Just skip everything to do with Coinbase. We know you have probably jumped through all those hoops already.

Create a Coinbase Account

Coinbase exchange logo

Coinbase Key Facts

  • Established Track Record: Coinbase was founded in 2012 and is the world’s most popular cryptocurrency exchange.
  • Serious Backers: Venture capital firm IVP, who were involved in the latest funding round, have been early investors in businesses like Netflix and Twitter. Other investors include companies like the New York Stock Exchange.
  • Easy To Use: Coinbase is renowned for it’s easy to use interface. This makes it the perfect exchange for cryptocurrency newcomers.
  • Small Minimum Deposit: You can invest as little as €6 into cryptocurrencies on Coinbase.
  • Regulated: Coinbase is one of the few cryptocurrency exchanges to be regulated.
  • Insurance: Customer funds are insured and segregated. US customers are even insured up to a balance of $250,000.
  • Deposit Methods : Credit / debit card, bank transfer and PayPal for US customers.
  • Tradable Cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash and Litecoin.
  • Customer Support Methods: Email and FAQ’s.

Looking to invest more than $100 in TRON by using Coinbase? Good news! You will also get $10 FREE by signing up through Total Crypto!

Need help setting up an account? Just checkout our comprehensive Coinbase guide!

I Have Setup & Funded My Coinbase Account. What Now?

TRON disc enemy

Ready for the next step to get your TRON?

Top stuff on getting the first step out of the way. Unfortunately, you cannot buy TRX directly through Coinbase therefore you will need to use a cryptocurrency exchange to get your hands on some TRON. To do this, we will need to convert our money into either Bitcoin or Ethereum. We will then trade this for TRX on a cryptocurrency exchange later.

The fastest way to buy Bitcoin or Ethereum on Coinbase

  • Head over to the ‘Buy/Sell’ page on your account.
    How to navigate to Buy/Sell on Coinbase
  • Add a payment method to your Coinbase account.
    How to add a payment method to your Coinbase account
  • Choose your deposit method: You can deposit a ‘Bank Account’ transfer – this method has lower deposit fees, but the transfer takes between 2 and 5 days to be credited to your Coinbase account. Or you can deposit instantly through a Credit/Debit card. With either method, just enter your payment details and process the transaction to fund your account. Once submitted, just sit back and wait for the credit to be applied to your account. You will get an email to telling you when your deposit has been successful.
    Adding a bank account or credit / debit card to your Coinbase account
  • Once your account is funded, select Bitcoin or Ethereum in the ‘Buy/Sell’ section of Coinbase.

  • Enter the amount of crypto you want to buy.
  • Select the currency wallet you deposited funds into as your payment method (we have used EUR in this example).
    How to buy cryptocurrency on Coinbase
  • Complete your order by clicking buy.
    How to complete your cryptocurrency order on Coinbase

Checkout our Coinbase guide if you are interested in buying Ethereum and Bitcoin on Coinbase with the lowest fees possible. It does take a bit more time though and involves transferring your funds to Coinbase’s sister exchange GDAX and buying your crypto there instead. We do recommend using GDAX and saving yourself some fees.

Once you have your ETH or BTC in your Coinbase account move onto the next step.

Setting Up A TRON Wallet

TRON (TRX) wallet graphic

There’s a number of community developed TRON wallets built by members of the TRON community, which is a fantastic place to start.

Additionally, the TRX token is a ERC-20 token, which means it is built on the Ethereum blockchain. This means we can store our TRX in an Ethereum wallet. Our top Ethereum wallet of choice is the ever popular: MyEtherWallet. Also, it’s completely free too.

We have put together some useful resources to get your MyEtherWallet setup:

You should have your MyEtherWallet good to go now. We will just quickly show you how you can view your TRX tokens in the wallet. First go to the ‘View Wallet Info’ section of MyEtherWallet and login. You will see a ‘Show All Tokens’ button, you want to smash that button.

Then just scroll down the token list until you see TRX. Just hit the ‘click to load’ button to view your MyEtherWallet TRX balance.

How to find TRON (TRX) in MyEtherWallet

Now you should know exactly how to find your TRON balance, when you transfer your crypto from the exchange later.

How To Store Your TRX In The Most Secure Way?

We really like MyEtherWallet as a free way to store our TRX. You should be made aware that there are many hackers targeting cryptocurrency right now and this trend is likely to continue as crypto prices increase. This has lead many to search for the ultimate way to protect their TRX.

Currently, the best security solution on the market is a hardware wallet. These devices securely store your private keys within the hardware wallet. This means that even if your computer has a virus, your TRON should still be safe. The private key is never exposed to the outside world, so hacking attempts, phishing scams and keyloggers should all fail, if you use a hardware wallet.

There are two superstar devices in the cryptocurrency hardware wallet market. Fortunately for you, TRX is compatible with both of them. At Total Crypto, we actually use both a Trezor and Ledger ourselves and are very happy to recommend both devices.

Want to see a comparison to help you work out which hardware wallet is best for you? Check out our Ledger Vs Trezor comparison.

Ledger hardware wallet logo

€94.80 (including European tax and free shipping)

Need help setting up your Ledger? Just have a look at our step by step guide.

Trezor hardware wallet logo

€128.26 (including European tax and shipping)

Need help setting up your Trezor? Just have a look at our step by step guide.

If you need help integrating your Trezor or Ledger with Myetherwallet, just take a few minutes to find out how in our guide.

Create a Binance Account

Binance exchange logo

So, you should have some Ethereum or Bitcoin on Coinbase and have setup your MyEtherWallet to store your TRX. The most popular cryptocurrency exchange for TRON is Binance. This is perhaps not surprising, seeing that Binance is the most popular cryptocurrency exchange in the world. The next step is to create an account at Binance and we can then finally get our TRX.

Binance Key Facts:

  • Largest In The World: Binance is the biggest crypto to crypto exchange in the world!
  • Huge Selection Of Cryptocurrencies: Binance offers you the opportunity to get your hands on over 100 different cryptocurrencies. Ripple is one of them.
  • User Friendly: The crypto to crypto exchange is the simplest we have ever used. We think this has been one of the main factors leading to Binance’s explosive growth.
  • Customer Support: Binance offers email multi language support for 🇺🇸 🇨🇳 🇯🇵 🇰🇷

Get TRX on the world’s largest crypto to crypto exchange.

Need help setting up a Binance account? Just checkout our Binance guide.

Transferring Your Bitcoin Or Ethereum From Coinbase To Binance

Using Coinbase to buy TRON graphic

You should have set up your Binance account by now. Whether you have your Bitcoin or Ethereum on Coinbase or in another wallet, you will have to send your funds to Binance to trade this for TRX.

Binance

  • Login to your Binance account.
  • Select “Funds” and click “Deposit”.
    How to find deposit address in Binance exchange
  • Make sure that you select Ethereum if you have Ethereum on Coinbase or Bitcoin if you hold BTC. If you send to the wrong wallet you may lose your funds!
  • You will then see your deposit address for Binance. Just copy this address. We have used Bitcoin as an example.
    How to find your deposit address in the Binance exchange

Coinbase

  • Login to Coinbase and go to the ‘Accounts’ tab.
  • Click the send button for whatever cryptocurrency you hold.
    How to send cryptocurrency from Coinbase
  • Paste your Binance deposit address into the ‘Recipient’ wallet address box and enter the amount you want to withdraw.
    How to enter your Bitcoin wallet address to send funds off Coinbase
  • Hit continue and finalise the transaction. Your Bitcoin and Ethereum should show up in your Binance account shortly

Got Crypto In Another Wallet?

  • Simply send your crypto to your Binance deposit address.

How To Trade Bitcoin or Ethereum For TRX On Binance?

It’s the moment you have been waiting for. Now we will finally get our hands on some TRX tokens.

  • Go to the Binance homepage and select ‘BTC Markets’ if you have Bitcoin on Binance or ‘ETH Markets’ if you have Ethereum. Then just search TRX in the search bar and click the TRX/ETH or TRX/BTC market.
    How to find the TRON (TRX) markets on the Binance exchange
  • You will then see a trading screen. At first glance it may look tricky but don’t be put off, we will show you what to do. Just select the ‘Market’ tab (this enables you to buy at the market price). Then enter the number of TRX tokens you want to buy. You can also use the percentage buttons to use a certain percentage of your balance on Binance to buy TRX.
    How to buy TRON (TRX) on the binance exchange
  • Once you have clicked ‘Buy’ your trade will be processed and your TRX tokens will be credited to your Binance account.

How To get Your TRX Tokens Off The Binance Exchange

So, we have finally got our TRX tokens. The question now is how we are going to store them? You could keep your TRX on Binance. However, we recommend storing it in your own personal wallet and having control over the private keys. The reason is that cryptocurrency exchanges are big targets for hackers and that storing TRX in your own wallet means there is no third party risk.

  • Go into your MyEtherWallet and copy your public address.
  • Login to Binance.
  • Navigate to ‘Funds’ and hit the ‘Withdrawals’ button.
  • Select TRX from the dropdown. Then just paste in your Ethereum public wallet address as the withdrawal address and enter in the amount you want to withdraw.
    How to withdraw TRON (TRX) on the Binance exchange
  • Once you click submit, your TRX will then be sent to your MyEtherWallet.

💡 Top Tip: Binance will charge you a withdrawal fee to get your TRX off the exchange. Before you withdraw you can check the withdrawal fee here!

The Easiest Way To Buy & Sell TRON

Do the other methods to buy TRON seem too complicated? Possibly you want to trade TRX instead? If so, then IQ Option could be the perfect option for you. IQ Option is a contract for difference broker. In a nutshell, you will not directly own or have to store TRON. Instead you are buying and selling contracts that are backed by TRX. This means you have all the exposure to the TRX price, with just one single account and don’t need to bother with storage considerations.

The Benefits of IQ Option

  • Unlike other cryptocurrency exchanges, IQ Option is regulated.
  • There are simply a much wider array of deposit options Vs. somewhere like Coinbase. If you want to get exposure to TRON using payment methods like Skrill or Neteller, then IQ Option is for you.
  • We find customer support to be much better at IQ Option than other cryptocurrency exchanges.
  • On CFD brokers like IQ Option you don’t have to worry about crypto storage considerations such as setting up wallets.

IQ Option broker logo

IQ Option Key Facts

  • Established – IQ Option was founded in 2013.
  • Global Presence – IQ Option has an astonishing global presence, serving 231 countries and counting. With over 25 million registered users, you know you are in safe hands with one of the largest CFD brokers out there.
  • Tradeable Cryptocurrencies – IQ Option has the largest range of crypto currencies offered by any CFD broker we know. These include: Ripple, Bitcoin, Bitcoin Cash, Litecoin, Neo, Stellar, EOS, Dash, Ethereum Classic, Tron, OmiseGo, Qtum, Zcash and Bitcoin Gold. This makes IQ Option the perfect choice for anyone who might be interested in the opportunity of investing in a wider range of cryptocurrencies.
  • Lowest Min Deposit Requirement – IQ Option gives everyone the chance to participate in cryptocurrency trading. It’s $10 minimum deposit limit is the lowest out of all the CFD brokers by a country mile.
  • Deposit Methods – IQ Option supports the following deposit methods: Visa, Visa Electron, Maestro, Mastercard, wire transfer, CashU, Skrill Netller, Webmoney, iDeal, Fasa Pay and Boleto.
  • Customer Support Methods Phone, post and email.

Heard Enough? Start Buying & Selling TRON On IQ Option Now!

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Trading TRON Seems Complicated. Where Do I Get Help?

TRON woman in car

We know that trading can be a steep learning curve, so we have prepared a few resources to help bring you up to speed and get you in the trading fast lane.

It is very important that you know what you are doing before placing your first trade on a CFD broker like IQ Option. It’s real money you are risking after all.

Conclusion

There you have it; the three easiest ways to buy TRON. The Total Crypto Team is exceptionally excited about the project. We are particularly excited about the possibility of Rick and Morty being on the TRON platform. We think this would be a major step towards mass adoption of TRON.

Justin Sun TRON Rick and Morty tweet

Further Reading At TotalCrypto.io
1) Can Cryptocurrency really make the world a better place? Take a look at the great things crypto is doing and amazing projects like Power Ledger and Substratum.

2) The Top 10 Crypto Documentaries You Must Watch!

3) Some Call It ‘The Ethereum Of Asia’ others the ‘Ethereum Killer’. Find Out More About NEO – Asia’s Largest Cryptocurrency.

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