TRON (TRX) is a cryptocurrency that is built on the TRON blockchain. It was created by Justin Sun in 2017 and is designed to be a decentralized platform for digital content entertainment.
The TRON network allows users to publish, store, and own data, and to freely distribute content without the need for intermediaries.
Transactions on the TRON network are conducted using TRX tokens, which can be bought and sold on cryptocurrency exchanges.
TRON has been controversial due to its marketing practices and the nature of its decentralized applications, but it has also gained a large following and has been adopted by a number of companies and organizations.
Tron TRX is hardly the only cryptocurrency with its own token, which was not developed for earning on it. The purpose of the development of the platform itself is to decentralize software provisions.
That is, Tron is an entertainment content platform in itself. Here you can play games, communicate, upload, download, and distribute content, thereby earning tokens.
The more unique and high-quality content is uploaded, the higher the earnings. The popularity of the platform is growing very fast, and some experts predict that soon it will become a worthy competitor to such a whale as YouTube.
But whether or not to buy TRX, where they can be exchanged, and how to store them, the experts at Wellcoinex will tell you.
Where did TRON come from
TRON was founded by Justin Sun in 2017. Sun is a Chinese entrepreneur and cryptocurrency enthusiast who has been involved in the technology industry for several years.
He is also the founder of the Peiwo app, which is a social media platform that allows users to share audio content.
TRON was designed to be a decentralized platform for the digital entertainment industry, with a focus on allowing users to publish, store, and own their own data and to freely distribute content without the need for intermediaries.
It aims to create a decentralized internet where users are in control of their own data and can freely access and share content.
How it works
The TRON network is a decentralized platform that allows users to publish, store, and own their own data, as well as to freely distribute content.
It uses blockchain technology to enable this, and transactions on the network are facilitated using TRX tokens.
Here is a high-level overview of how TRON works:
- Users can publish and store their data on the TRON network by creating a TRON account and uploading their content to the network.
- The data is stored on a decentralized network of computers (nodes) that are run by volunteers around the world. This ensures that the data is secure and can’t be controlled or censored by any single entity.
- Users can access and interact with the data on the TRON network using a variety of decentralized applications (DApps). These DApps can be created by anyone and allow users to interact with the data in different ways, such as by viewing, sharing, or modifying it.
- Transactions on the TRON network, such as the creation of a TRON account or the interaction with DApps, are facilitated using TRX tokens. Users can buy and sell TRX on cryptocurrency exchanges and use it to pay for access to DApps and other services on the TRON network.
- The TRON network is secured using a consensus mechanism called Delegated Proof of Stake (DPoS). This mechanism allows users to vote for “super representatives” who are responsible for validating transactions and maintaining the integrity of the network.
Features and benefits of Tron
The platform is based on blockchain and is the largest of those that use distributed ledger technology. Also, because of decentralization, there is no control over the content.
The project was created in order to exclude the involvement of third-party centralized resources in the distribution of content. Another goal of the project is to democratize the delivery of digital content.
To achieve this, protocols, platforms, and tools are used that do not require additional permissions.
The honor of transactions on the platform is provided by smart contracts in Solidity.
Since this language was developed for Ethereum, smart contracts for Tron have full compatibility with this network.
However, Tron, if compared to Ethereum is better scalable, has faster processing speed in the blockchain.
Tron – has a certain set of advanced features that developers can use. They can be used to create decentralized applications, exchanges, online games. The platform is also actively used for streaming video content.
Benefits of Tron cryptocurrency
- Users can receive tokens as rewards for the posted content. In this case, the price varies. Each placement is evaluated according to several criteria: uniqueness, usefulness, time spent, etc.;
- The platform was designed to be independent of third-party financial injections and therefore influence;
- Anyone can post content on Tron and get remuneration for it, proportional to their efforts.
The last point is especially important because TRX is a token whose popularity is growing rapidly. Today, its price is low, but the platform’s developers are still far from achieving their goal.
That is, the platform is designed for young artists, writers, and other gifted people who have posted their content on Tron today and received rewards to become wealthy holders of cryptocurrency in a few years.
And the speed with which the platform is developing gives no reason to doubt that the developers will achieve their goal.
What about the TRX token
The first thing to say is that TRX is not mined. That is, it can be earned by putting out quality content, but the entire pool of tokens was released online at one time.
In 2017, cryptocurrencies were initialized (ICO) and $58 million was raised immediately. And after its official launch in 2018, TRX immediately made it to the top 20.
For a while, the cryptocurrency platform Tron even gained a foothold in the top 10.
But TRX is not the only token in this ecosystem. There are also TRC10 and TRC20. By supporting these tokens, developers get more opportunities to create new applications. The rate of additional tokens directly depends on the value of TRX.
Is TRX a good investment
It is difficult to predict the future of any cryptocurrency, and TRON is no exception.
TRON has faced its fair share of controversy and challenges, and its future will depend on how it is able to navigate these challenges and continue to innovate and adapt to the rapidly evolving world of cryptocurrency and blockchain technology.
That being said, TRON has a large and active community of supporters and developers, and it has made significant progress since its launch in 2017.
It has partnerships with a number of major companies and organizations, and it has a number of ambitious goals for the future, including becoming a major player in the decentralized finance (DeFi) space and expanding its ecosystem of decentralized applications (DApps).
Ultimately, the success of TRON and the value of TRX will depend on its ability to deliver on these goals and continue to add value for its users.
It is up to individual investors to decide whether they believe TRON has a bright future and if they want to invest in TRX. As with any investment, it is important to carefully consider the risks and do your own research before making a decision.
Some things to consider when deciding whether to invest in TRON or any other cryptocurrency are:
The cryptocurrency market can be highly volatile and is prone to significant price fluctuations. It is important to consider the current market conditions and the potential risks and rewards of investing in any cryptocurrency.
Adoption and usage
A cryptocurrency’s value is closely tied to its adoption and usage. You may want to consider whether TRON is being widely used and whether it has strong partnerships or a large and active developer community.
Technology and features
It is important to understand the technology and features that a cryptocurrency offers, and how it compares to other cryptocurrencies in the market.
Consider whether TRON’s technology and features make it a strong and viable investment.
Legal and regulatory environment
The legal and regulatory environment for cryptocurrency is still evolving in many countries.
You may want to consider whether TRON is operating in a favorable legal and regulatory environment and whether it is compliant with relevant laws and regulations.
Can I make passive income with TRON
It is possible to earn passive income with TRON (TRX), although it is important to be aware of the risks involved in investing in cryptocurrency.
Here are a few ways that you may be able to earn passive income with TRX:
Some cryptocurrencies, including TRON, offer a staking mechanism that allows users to earn a passive income by holding their tokens in a wallet and participating in the network’s consensus process.
With TRON, users can earn a return by voting for “super representatives” who are responsible for validating transactions and maintaining the network.
The amount of income that you can earn through staking will depend on the amount of TRX that you hold and the staking rewards offered by the network.
You can earn passive income by lending your TRX to other users through a cryptocurrency lending platform. These platforms allow you to lend your TRX to borrowers in exchange for a fixed interest rate.
The income that you can earn through lending will depend on the interest rate that you are able to secure and the demand for TRX loans.
Some cryptocurrency projects, such as decentralized finance (DeFi) protocols, may offer dividends to token holders.
You may be able to earn a passive income by holding TRX and receiving dividends from these projects.
All in all, it is important to carefully consider the risks and potential rewards of any investment before making a decision.
Cryptocurrency prices can be highly volatile and the value of your investment may fluctuate significantly. It is also important to research the project and understand how it generates revenue before investing.
Where to store the Tron TRX
The platform offers its users a powerful and secure storage in which all tokens can be kept and used when needed for settlements within the system.
For those who decide to purchase tokens for those who are interested in this promising cryptocurrency and want to add it to their investment portfolio, there are more convenient options to store it.
These wallets are separate device with the installed software. To put tokens into such a wallet, it must be connected to a PC. The advantage of such models is their autonomy. The wallet can be stored at home or in a bank safe.
There are disadvantages to hardware wallets as well.
First and foremost is the possibility of losing it. If such a device is lost, all assets stored on it will be lost.
Another disadvantage is the complexity of the initial setup. This stage is especially difficult for beginners.
Among hardware wallets, Ledger is the most popular. The company manufactures its devices in the form of a small and outwardly unremarkable flash drive so that outsiders cannot guess its purpose.
Tron TRX mobile wallets
Since the cryptocurrency supports the Ethereum ERC20 standard, it can be stored on mobile wallets for this coin. The best one is considered to be MyEtherWallet.
Another option for the Tron TRX eidoo storage app, wallet which can be downloaded from APP Store and Google Play.
In general, you can consider all wallets that support the ERC20 standard. But does it make sense to buy and store cryptocurrency if it was originally created for purposes other than enrichment.
The growth dynamics of this cryptocurrency is generally not bad. It is not without a decline, but in the last year, it is a common problem for the entire crypto market.
If we are talking about long-term investments with capitalization and price growth prospects, then this cryptocurrency can be quite considered.
If for short-term periods, it’s hard to say anything. You need to carefully analyze the market and consider the situation in a specific period of time.
How to buy TRON
There are a few steps you can follow to buy TRON (TRX):
Choose a cryptocurrency exchange
First, you will need to choose a cryptocurrency exchange that offers TRX. There are many exchanges to choose from, and it is important to compare their fees, reputation, and the payment methods that they accept before deciding which one to use.
Our site recommends WELLCOINEX.COM to buy TRX.
Create an account
Once you have chosen an exchange, you will need to create an account and go through their verification process. This may involve providing personal information and proof of identity.
Next, you will need to deposit funds into your account. Most exchanges will accept a variety of payment methods, such as bank transfers, credit or debit cards, and online payment services like PayPal.
Once you have funds in your account, you can search for TRX and place an order to buy it. The exchange will match you with a seller, and once the transaction is complete, the TRX will be credited to your account.
Withdraw TRX to a wallet
It is generally recommended to withdraw your TRX to a personal wallet rather than leaving it on an exchange. This will give you more control over your tokens and help to protect them from hacking or other security threats.
On the largest exchanges, the coin is traded in pair with Bitcoin or Ethereum. Therefore, if you want to use these exchanges, you will have to buy these cryptocurrencies first.
You can buy them on Wellcoinex service quickly, without verification, confidentially.
Also, thrones for fiat currencies are available on the service, which rarely happens on exchanges.
So, if you plan to play this cryptocurrency further, which, in principle, is not very promising, it is better to buy it from an exchanger and put it into a hardware wallet as part of an investment asset.
Is Tron TRX worth buying? Yes, if you are considering cryptocurrency as a long-term investment option.
However, if you want to become an investor of one of the most promising platforms that can become global for online games and visual digital content in just a few years, then Tron TRX is the only right decision.
Since the developers’ plans include completely isolating their product from outside investment. That is, only Tron TRX holders will be able to invest in the development of this super promising project.
If you are passionate about decentralization online, this is your cryptocurrency too. Its developers prioritize the convenient and confidential purchase of content, as well as services and, in the long term, other products.
Whether it’s worth investing in this cryptocurrency is up to you to decide, but if you decide to buy Tron TRX, you can always do it on Wellcoinex service at the most favorable rate.
Hope this helps you to make a decision of buying TRON. Read another cryptocurrency articles on WELLCOINEX.COM!