One of the most popular cryptocurrencies today is Tron, or TRX. Introduced in 2017, Tron is a decentralized blockchain-based virtual platform that is quite similar to Ethereum (ETH). It was founded by Justin Sun, and its goal was to create a worldwide, unlimited digital content entertainment system to allow the economical and straightforward process of sharing digital content.
The Tron coin, TRX, is the cryptocurrency that powers Tron. It is also called Tronix. The blockchain network of TRX is similar to ETH. The Tron platform can take care of up to 2,000 transactions in one second and comes with no fees.
If you want to buy TRX, the best way to do it is with ETH. Thus, many crypto traders are interested in the Tron coin and prefer to convert ETH to TRX before investing. Keep on reading this guide to learn more about buying and investing in TRX.
Why Invest in TRX?
There are different reasons why you should be interested in investing in TRX. These are apart from the fact that it took Tron about two years to achieve the feat of being one of the top ten cryptocurrencies in terms of market cap. They include:
- The need to support the activity and initiative of Tron, which is to create a free digital content entertainment sharing system.
- Cryptocurrency experts have predicted that the price of TRX will increase from this year.
- TRX is also an ideal investment for short-term traders because of its volatility.
How to Purchase Tron with Ethereum
There are three easy steps you can take when you want to buy TRX with ETH.
Step 1: Obtaining Ethereum
The first thing you need to do is obtain Ethereum, as you need it to exchange for Tron. Ethereum is a blockchain platform with Ether (ETH) as its cryptocurrency. It is open-source and manages decentralized digital applications. Ethereum created Ether, the crypto asset, to encourage programmers to use its protocol.
You’re probably wondering why you have to buy TRX with ETH and not any other fiat currency. Most exchange platforms don’t allow investors to purchase TRX with fiat currency, and if they do, the fees incurred are relatively high. Using ETH to buy TRX is also faster and easier.
To obtain ETH, you can either:
- Buy it using a cryptocurrency exchange.
- Buy it using a trading platform or broker.
- Buy it from someone else.
Step 2: Choose a Way to Buy TRX
Once you have your Ether, you need to choose a way to buy the Tron coins and a storage wallet address to keep it. If you want to buy Tron, you can either buy it from an exchange, a broker, or another person through P2P directories. Among these options, using an exchanger is the best.
Some of the reasons why you should prefer an exchanger to buy TRX and not with a broker or another persons are:
- Higher Fees
- Forced Verification
- Low Volumes
- Limited Availability
In the exchanger you get moderate fees and mostly unlimited availability and volume.The recommended exchanger for buying TRX with ETH is Godex.io. This exchanger offers no limits on volume, fixed rates with no hidden fees, and no required sign-ups.
Step 3: Buying TRX with Godex
Most exchangers use the same process when buying TRX with ETH, so Godex will serve as an example.
If you want to buy TRX with Godex, follow these easy steps now that you have your Ether and Tron wallet.
- Choose the currency in the options provided.
- Enter your Tron wallet address.
- Wait for the deposit for a few hours.
- Exchange the currencies and receive your Tron.
Invest in TRX Today
There’s a lot you can benefit from by investing in TRX. You can begin by purchasing TRX with ETH through a trusted exchanger (Godex is recommended) and start benefiting from the cryptocurrency’s profit.
