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How to Buy Tron (TRX): The Beginner’s Guide

The best way to buy Tron is through the Binance exchange. After confirming your identity at Binance, you can begin the purchase process.

Tron is a popular cryptocurrency and smart contract platform. Tron has been a fairly mediocre investment. Ledger Nano X is the most secure storage option for Tron’s TRX tokens.

How to buy Tron (TRX): A Quick Guide

The best way to buy Tron is through the Binance exchange. The TRX token was launched on Binance in 2017 and has always had extensive support (liquidity + exchange pairs) on this exchange. You can quickly transfer euros to Binance with a SEPA bank transfer or other deposit methods.

Note. In this guide, we use euros as fiat currency. The purchase process is identical when using other fiat currencies (USD, GBP, etc.). Depending on your country, additional deposit methods might be available.

Here’s how to buy Tron on Binance:

  • Open an account on Binance by clicking here
  • Download the Binance Mobile App (iOS or Android)
  • Confirm your identity by completing the KYC process
  • Make a euro deposit to your Binance account
  • Buy Tron (TRX)
  • Transfer TRX tokens to your wallet or store them on Binance

The Binance mobile app is required to complete the KYC process. Hence, it’s good to download it immediately after registration.

Below is an image from the Binance home page.

binance

Tron is a cryptocurrency established in 2017, so it has been on the market for a long time. Because of this, Tron is widely supported by popular cryptocurrency exchanges. In addition to Binance, Tron can be found in KuCoin and Kraken.

Click the Reviews link in the main menu to find beginner’s guides to the most popular crypto exchanges.

How to buy Tron (TRX): A Detailed Guide

After confirming your identity at Binance, you can begin the purchase process. You should also have euros in your account. We recommend depositing via SEPA bank transfer, as it is very cheap in terms of costs and often appears in your account within a couple of hours. If you need help using the Binance exchange, check out our extensive Binance beginner’s guide.

Next, you will get step-by-step instructions on how to buy Tron (TRX) on Binance. Since most of our readers use smartphones, the guide uses Binance’s mobile app. You can download it for free on iOS or Android.

Open the trading menu

Click the trading icon in the Binance mobile app’s sub-menu to get started. In the image below, it is marked with a red arrow.

binance mobile menu

When you click the trading icon, a menu appears on your screen containing the options Buy, Sell, Covert, and Deposit. Select Buy from these options.

Choose Tron (TRX)

Next, you will see a list of all cryptocurrencies supported by Binance. Scroll down the list until you see Tron (TRX). Alternatively, you can enter TRX in the search field.

choose tron

Finally, click the Tron (TRX) line to proceed to the purchase form.

Buy Tron (TRX)

Next, you can buy Tron (TRX tokens). The Binance crypto purchase form will now appear on your screen. You can buy Tron for the number of euros you want. Enter the number of euros in the gray EUR box.

Alternatively, click the “By quantity” link, which changes the units from EUR to TRX. You need this feature to buy a certain amount of Tron, for example, 100 TRX tokens.

buy trx

Finally, click the yellow Buy button to confirm the purchase.

Choose the payment method

The last step is to choose the payment method. If you have already made a euro deposit to your account, select Wallet (EUR) as the payment method. Binance also offers alternative payment methods on this page.

We recommend using the euro wallet because it is the most cost-effective way to buy crypto on Binance.

tron payment

Finally, click Confirm, and your purchase will be completed. After confirmation, you should immediately see TRX tokens in your Binance account.

More experienced users also trade on the Binance exchange. There, you can execute limit price orders and use leverage. We do not recommend this option for novice users.

Transfer your recently purchased TRX tokens to your wallet or store them in Binance.

What is Tron?

Tron is a popular cryptocurrency and smart contract platform. A smart contract platform means that Tron is an operating system for smart contracts and decentralized applications. Tron competes in the same category with Ethereum, Solana, and Cardano.

Tron was founded back in 2017, and its MainNet launched in 2018. This makes it one of the most well-known smart contract platforms on the market. Below is a picture from Tron’s website.

tron network

Its founder, Justin Sun, very strongly personifies Tron. Sun is a Chinese-born investor and young achiever who has twice made it to Forbes’ famous “30 under 30” list of influencers.

This project will make or break under the leadership of its founder, as Justin Sun has a hand in all of Tron’s critical infrastructure. So far, this strategy has worked, although Sun has also received a lot of negative publicity over the years.

In recent years, Tron has cemented its position as one of the most used blockchains on the market. More than 50 percent of the stablecoin Tether’s reserve is on the Tron platform. Tron is very popular, especially in Asia, where much USDT payment traffic is done.

In the DeFi sector, Tron has been the most significant platform (TVL) after Ethereum for years. Almost all of Tron’s DeFi liquidity is in two applications backed by Justin Sun, JustLend and JustStables.

Read more: Tron Beginner’s Guide.

Tron as an investment

Tron has been a fairly mediocre investment. To the surprise of many, it held its value well in the bear market of 2022, falling “only” 75% from the highs of 2021. At the same time, many competing cryptocurrencies dropped by 90-99 percent.

The other side of the coin is Tron’s modest upside potential. Tron (TRX) price is still far from the January 2018 highs over six years ago. In 2023, its increase was half that of Bitcoin.

From an investor’s point of view, Tron as a project is too much of an Asian project. European and US social media influencers don’t shill TRX but other projects. In addition, Tron’s impersonation of Justin Sun is a negative factor for many investors.

Pros and Cons of Tron from an investor’s point of view:

  • Pros: Long life of the project, use as a means of payment, technically functional solution
  • Cons: Too much personification of Justin Sun, popularity outside of Asia, DeFi sector too concentrated

Despite everything, Tron has cemented its position as one of the top 20 cryptocurrencies in recent years.

How to store TRX safely

Ledger Nano X is the most secure storage option for Tron’s TRX tokens. Ledger has supported Tron for years. You can safely buy a Nano X wallet from Ledger’s official website for 150 euros.

Free wallets are also available to store Tron. The popular Trust Wallet mobile app supports the TRX token. Exodus is a free wallet you can install on a desktop computer or mobile device.

Antti Hyppänen

Antti Hyppänen is the founder and editor-in-chief of AboutBitcoin.io. Antti has written articles about cryptos since 2017. He follows the crypto market every day of the year and is responsible for the daily operations of AboutBitcoin. Antti is not a maximalist regarding any cryptocurrency but looks at the industry objectively. Antti’s investment profile is “buy & hold,” i.e., he does not trade or use leverage. His crypto portfolio consists of mainly Bitcoin and Ethereum. Antti also follows macroeconomic events. In addition to cryptos, his interests include gold, silver, and the US stock market.