Tron: You might have heard the term of Bitcoin, Ethereum and other types of cryptocurrency. The reason why cryptocurrency is on everybody mind is that they can yield you 1000 times the investment in just a month. It’s not a joke, many people have invested in such cryptocurrency and have made billions. However, the big player plays in big pools of bitcoin, but you can still make quick cash investment with a new coin called TRON. Don’t get me wrong when I call it new.
It started in sept 2017 with a value of USD 0.0019 to about USD 0.2 in early Jan 2018. So you can imagine the profit people have made with little investments.
How to Buy TRON coins
It is easy to buy TRON coins as many sites offer to buy TRON directly. One such place is Koinex. However, it charges more than the original price. But today in this guide we will tell you how to buy TRX coins/ TRON coins via Binance.
Now you must be wondering what Binance is? Binance is an online multi cryptocurrency exchange project here you can exchange and store you crypto funds and exchange them through their advanced trading platform.
1. Investment With TRON coins
If you’re ready to make investments with TRON coins the, first of all, you have to buy some sort of cryptocurrency. If you already have cryptocurrency lying around like Bitcoin or Litecoin, then you can exchange them for TRX. However f you don’t have any actual amount of cryptocurrency then you can buy one and then later trade it for TRX. We strongly recommend you to use Bitcoin, Ethereum or Litecoin to begin with as they are highly prevalent in the market and you will be able to purchase them very quickly. You can buy these currencies first from Koinex and later transfer them to Binance so you can trade them. Follow this detailed guide below on how to buy Ripple (XRP) on Koinex; the process is, however, same for all other cryptocurrencies.
2. Buying XRP From Koinex
We already have covered about how to buy Ripple(XRP) from Koinex in out other Blog titled How to buy Ripple in Koinex, Coindelta, and Other Wallets Be sure to check it up if you entirely want to understand the next procedure.
We hope that you successfully have bought crypto from koinex after reading our guide and now you are ready to trade it for TRX coins. To do that follow this simple guide
- Go to Binance and sign up for a new account.
- Verify your email address.
- After verifying your details, log in to your account.
- Go to funds section in the top menu.
- Select XRP and choose deposit – you will see a deposit address and token (most of the cryptocurrency can transfer with wallet address, but XRP needs token too)
- enter necessary details in your koinex account and transfer all those newly bought cryptocurrency into your Binance account.
- Wait for around 20 minutes so that the transferred amount will reflect in your Funds section
3. Trading XRP With TRX
Now you successfully have added the amount to your Binance account, and now you’re all set to trade it for TRON coins.
- Go to exchange section in Binance and chose basic.You will see a complicated marketing window.
- Chose you coin type (which you want to buy) in the right panel of the window.
- Now select market in buying/selling window.
- Choose 100% (100% means to convert all coins into TRX, you can choose this setting accordingly)
- Click on buy and instantly you will observe TRON coins in your fund’s section.
What to do if I can’t buy coins from Koinex?
Well, I feel you. Its been lot harder to buy cryptocurrency for new people and I suppose you can’t wait for four days for KYC verification as the market prices might go up or down. So you gotta be quick right?
You can buy bitcoins or other coins from your friends or some local trader in your hometown. I also bought my first set of 53coins of XRP from an offline trader. They usually charge 2-5% more than market but there is no KYC, and you get the coins instantly.
What is TRX (Tron)
TRON or TRX was started to build a content subscription based idea for online content creators. By using blockchain technology and the benefit of distributed storage, TRX is trying to form a decentralized content orientated entertainment ecosystem. In simple terms, TRX aims at a P2P version of Google play store and iTunes. It was launched on 24 August 2017 with a total supply of 100,000,000,000 TRX which is not minable.
It is a currency which is supposed to be used in peer to peer network for purchasing entertainment content while helping to cut channel fees or charging more to the paying customers.
I have bought TRON coins, now what?
You can either hold it and sell it for future. Trade them for other cryptocurrency and sell them so that you can get the selling price in your bank account.
Why should I choose Binance if I can buy TRON coins from Koinex?
As I already mentioned, Koinex charges 5-15% more than the market price, so it’s better to trade in Binance as they offer blockchain price. Also trading at blockchain price can increase your chances for profit making.