4 Things You Need to Know Before You Invest in TRON Coins

TRON was created by the TRON foundation in Singapore, a non-profit organization that was originally inspired by Sir Tim Burners Lee. Ever since TRON (TRX) launched in 2017, it’s had one of the most followings in the sector. It leveraged the community’s support and with its unique technical aspects, it became one of the top cryptocurrencies in the world. 

Justin Sun, the CEO of the company is known as the Chinese billionaire prodigy and founder of Ali Baba, an e-commerce company. Strong speculations surround a possible partnership between Alibaba and this cryptocurrency, which would provide a significant boost to the currency and make it one of the most promising cryptocurrencies to date. 

If you are new to TRON and you are potentially planning to invest in this blockchain-based operating system, read below as we explore this cryptocurrency in detail.

Where to buy TRON

Before you decide to purchase the TRON coin, you need to know where exactly you can purchase and store your crypto.

TRON coins can be purchased on most cryptocurrency exchanges. You can simply open an account at one of these exchanges and purchase TRON with fiat money (credit card or debit card). Before you can make a purchase, however, you will need to create a TRON wallet.

You can also find hardware or software systems that allow people to save cryptocurrency even more safely. But before you do that, check the hardware specification and see whether it supports TRON networks.

Whatever wallet you choose, make sure to follow the best practices when trading with cryptocurrency. This includes keeping your computer safe and having a reliable backup of your seed phrase.

Where to store TRON

Speaking of wallets and security, there are multiple solutions where you can store your TRON coins. Due to the malicious nature of hackers, cryptocurrency storage has become a major problem. Many cryptocurrencies do not have functional wallets. This forces investors to sell their crypto holdings and put them on exchanges. However, TRON is not affected by this issue.

When it comes to choosing the right TRON wallet, you have to focus on your personal requirements. These include factors such as wallet cost, regularity of use, security concerns, or user experience. Furthermore, TRON is attractive to HODLers who see it as a long-term asset and, TRON’s solid fundamentals could be a factor in attracting new investors to TRON over the long term. 

The main reasons to invest in TRON

TRON is a decentralized platform that focuses on entertainment. This makes it easy for content producers to publish their work and get paid. It also makes it simple for content consumers to find videos, posts, and photos and be able to pay for them safely. The virtual currency can also be traded for other cryptocurrencies on different trading platforms.

One of TRON’s most attractive features is its low transaction fees. The transaction fee is determined by bandwidth and energy, meaning that TRON cryptocurrency has very low transaction costs. This value is usually very low, around $0.065, which attracts investors and traders to the coin.

Furthermore, TRON is not just associated with low cost, its biggest selling point is speed. Unlike other cryptocurrencies, such as Ethereum, TRON can perform up to 2,000 transactions per minute, which is significantly more than the 25 of Ethereum. This is due to the fact that TRON uses a DPoS (Delegated Proof-of-Stake), to quickly handle large numbers of transactions.

TRON was designed for the real world

There are many coins and tokens on the crypto market that have no real use. Many tokens are whitepapers that offer no substance and are just fancy gimmicks. These types of coins are at risk of falling if the market crashes. This was the case once again after the ICO bubble burst.

The market fell by more than 70%, but tokens with no activity simply vanished. TRON was one of the cryptocurrencies that survived and have seen a rebound in this market rally.

It has real-world applications, including entertainment, payments, and content distribution. These use cases are still very early in development, so TRON is an excellent cryptocurrency to invest in with a long-term perspective of the market.

Final thoughts

There is no doubt that the cryptocurrency market will fluctuate. This is why it is important to understand TRON’s history, team and vision before you make any investment decisions. You also need to consider your financial goals. 

Due to TRON’s volatility and short history, it is generally best to invest modestly if you are a newcomer. Keep in mind that one of the most important crypto-trading strategies is to look for patterns and indicators. 

The post 4 Things You Need to Know Before You Invest in TRON Coins appeared first on Coinrevolution.

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