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How to Buy TRON (TRX) in 2024: Step-by-Step Guide

Eliman Dambell
Last updated: | 12 min read

A mainstay within the top 20 cryptocurrencies, TRON is a popular token amongst new investors. The price has been volatile in 2024, hitting its highest level since 2021 back in February before retreating as traders took profits. Some are looking at this as a good time to buy TRON, ahead of a rebound in value.

In this guide, we will explore the different ways how to buy TRON (TRX) in 2024. Follow these simple steps outlined below to get started on your investment journey in this popular cryptocurrency.

Tron website

What is TRON (TRX)?

TRON (TRX) is a blockchain-based platform designed to support decentralized applications (dApps) and smart contracts. Founded by Justin Sun, TRON initially launched on the Ethereum network as an ERC-20 token following a $70 million ICO (initial coin offering) in 2017. Since then, it has moved away from Ethereum, creating its own blockchain.

This platform aims to revolutionize the digital entertainment industry by providing a decentralized ecosystem for content creators and consumers. Using TRON, content creators can interact directly with their audience and receive payments without the need for intermediaries.

It does this by leveraging its native token, TRX, which is currently the world’s 16th largest cryptocurrency, with a market capitalization of over $10.7 billion. The price reached an all-time high of $0.3004 in 2018 and remains over 11,000% above its lowest price. Presently, it sits nearly 60% away from its peak.

How to Buy TRON in 5 Easy Steps

Should you want to invest in TRON, the process is straightforward with the right guidance. Here are the five simple steps to buy TRX:

1) Choose a Crypto Exchange

Begin by selecting a reputable cryptocurrency exchange where you can buy TRON securely and at a reasonable cost. One popular option is eToro, known for its user-friendly interface and wide range of supported cryptocurrencies.

Visit the eToro website and select “Join eToro” to get started.

EToro Homepage

2) Verify Your Identity

Most exchanges require you to undergo a Know Your Customer (KYC) verification process. You will need to provide personal information like address details and upload identification documents such as a passport or driver’s license.

kyc etoro

3) Choose Payment Method

eToro offers various options, including bank transfers, debit cards, and e-wallets, making it convenient to deposit funds in your preferred currency. To buy TRON with a credit card, simply click “Deposit” on the login page, and you will be given the available options.

eToro deposit

4) Select TRON Trading Pair

With your account funded, navigate to the trading section of the exchange and select the TRON trading pair you wish to trade. On platforms like eToro, TRON is often paired with major cryptocurrencies like Bitcoin (BTC), Tether (USDT), or fiat currencies like USD.

TRX/USD eToro

5) Buy TRON

Finally, after selecting the trading pair, enter the amount of TRON you want to purchase, check the transaction details, and confirm the transaction. Once completed, you’ll have successfully bought TRX and added it to your portfolio.

Let’s now dig deeper into where to buy TRON.

Where to Buy TRON in 2024? The Best Platforms

Now you understand how to buy TRX, let’s look at where you can do so. When it comes to buying TRON, choosing the right platform is crucial. You want to find an exchange that is reputable, safe, and secure.

Other factors to consider include user interface, fees, and liquidity. Here are three top exchanges known for their reliability and user-friendly interface, and for being good for beginners.

eToro -Social Trading Platform Perfect for Beginners

eToro

offers a user-friendly platform with a wide range of cryptocurrencies, including TRON. It provides an intuitive trading experience with a diverse range of assets and social features. where you can copy trades from profitable investors, making it ideal for beginners.

Founded in 2007, eToro is a leading crypto trading platform with over 30 million customers and over 70 cryptocurrencies listed on its platform. Users can mirror the trades of seasoned investors using the CopyTrade feature and discuss trading strategies and ideas with its social element. There is also a demo account option where you can try out trades using virtual funds to get familiar with the markets and assets.

eToro Tron page

Presently, it charges a fee of 1% for opening and closing TRX positions and a $5 withdrawal fee, which is cheaper than the likes of MEXC who charge $25 for withdrawals.

Pros

  • Global reputation and branding
  • Social and copy trading features
  • 24/7 customer service

Cons

  • $10 per month fee after 12 months of inactivity
Features Description
Fees 1% fee for opening/closing trades
Security Two-factor authentication (2FA)
USP Social / Copy Trading

Visit eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

MEXC – High Liquidity Exchange with Over 2,000 Cryptos

Another option to buy TRX crypto is through MEXC, a global cryptocurrency exchange known for its high liquidity and competitive trading fees. It offers a secure platform for buying and selling TRON and other digital assets and currently lists over 2,000 cryptocurrencies on its platform. It also has a range of advanced trading options such as margin trading and futures trading while still being user friendly.

MEXC has over 10 million active customers from as many as 170 countries and ranks number 7  in terms of daily TRON trading volume amongst all exchanges. MEXC

Homepage of Mexc

Currently, MEXC charges a 0.10% commission on TRX trades. The platform is licensed in Australia, Canada, and Switzerland. Another benefit of using MEXC is that it often offers sign-up bonuses to new customers. Investors on MEXC can also stake their unused crypto and receive passive income outside of daily trading.

Pros

  • 2,000+ listed Cryptocurrencies
  • New customer bonuses
  • Staking

Cons

  • $25 withdrawal fee
Features Description
Fees 0.10% per transaction
Security 2FA, encryption, automated alerts
Regulation Licensed in Australia, Canada, and Switzerland
USP New sign-up bonuses

Visit MEXC

Binance – Global Crypto Exchange with High TRON Trading Volume

Binance is one of the largest cryptocurrency exchanges globally. It offers a comprehensive range of trading features and a wide selection of cryptocurrencies, including TRON. Overall, the platform has over 400 crypto tokens.

In terms of TRX’s daily trading volume, Binance holds nearly 13% of the total market share. On average, around $29 million in volume passes through this exchange on a 24-hour basis.

Binance homepage

Similar to MEXC, fees for buying and selling TRX are 0.1% on Binance. Unfortunately, this exchange is unavailable in the United States and isn’t as well regulated as other platforms on the list. It is currently facing legal battles with the U.S. Securities and Exchanges Commission (SEC).

It does offer 24/7 customer support and provides various options to buy TRON. This includes credit cards and traditional crypto deposits.

Pros

  • Well-known crypto exchange
  • Over 400 listed cryptos
  • Low fees

Cons

  • 3.75% fee for debit card deposits
  • Limited regulation
Features Description
Fees 0.1% transaction fee
Security GDPR, Two-factor authentication (2FA)
Regulation Regulated in Japan, licensed
USP Strong liquidity

Visit Binance

How We Ranked The Best Places to Buy TRON

When evaluating the best places to buy TRON (TRX), we considered several factors to ensure users have a seamless trading experience. Our ranking focuses on key aspects that impact user satisfaction and overall trading efficiency.

These include trading volume, withdrawal speed, transaction fees, and uptime. Let’s detail each individually below.

Largest TRON Trading Volume – 25%

To start, we prioritized exchanges with high TRON trading volume, as it indicates liquidity and market demand. Platforms with substantial trading volume offer better opportunities for users to execute trades swiftly and at competitive prices, enhancing their trading experience.

At the time of writing, Binance has the highest trading volume for TRON, with over $40 million worth of TRX traded daily.

Withdrawal Speed on TRON Network – 25%

The speed of withdrawals on the TRON network is crucial for users who wish to transfer their TRX to external wallets or other exchanges. We assessed exchanges based on their withdrawal processing times to ensure users can access their TRON funds promptly whenever needed.

Typically, withdrawals processed via debit/credit card deposits or bank transfers can take up to a few days. However, for customers using eToro Money, withdrawals are instantly processed.

Lowest TRON Trading Fees – 25%

Trading fees can significantly impact users’ profitability, especially for frequent traders. We analyzed exchanges to identify those with the lowest trading fees for TRON transactions, allowing users to maximize their returns by minimizing trading costs. MEXC offers 0.10% per transaction, which is cheaper than eToro who charge 1% per side.

Overall including deposit and withdrawal fees, eToro offers a good solution for beginners, as it charges $0 for USD deposits and withdrawals. For any other currency, a conversion fee is applied.

Exchange Uptime – 25%

Finally, reliability is paramount when choosing a cryptocurrency exchange. We researched the uptime performance of exchanges to ensure they maintain stable and uninterrupted trading services. Exchanges with high uptime rates provide users with a seamless trading experience without disruptions.

eToro is one of the most reputable exchanges in the market and has been around since 2007, providing 24/7 support to customers worldwide. According to Reuters, the company is currently planning to list on the New York Stock Exchange at a valuation of $3.5 billion.

What is the Best Way to Store TRON (TRX)?

After initially launching on Ethereum, TRON (TRX) now operates on its blockchain network, making it essential for investors to store their TRX securely. The choice of storage method depends on individual preferences and risk tolerance. Here are the top wallet options for holding TRON:

Cold Wallets: Cold wallets, such as Ledger or Trezor hardware wallets, offer the highest level of security by keeping TRX offline. These devices protect against hacking attempts and malware, making them ideal for the long-term storage of large TRON holdings. So, for those who are not actively trading, this is a good option.

Hot Wallets: On the other hand, hot wallets, like Zengo, are software wallets that run on internet-connected devices such as smartphones or computers. While hot wallets are more convenient for frequent trading and accessing funds on the go, they may be more susceptible to cyber-attacks compared to cold wallets.

Outside of the above, it’s essential to follow some best practices when storing TRON. These include:

  1. Enable Two-Factor Authentication (2FA): Enabling 2FA authentication adds an extra layer of security to your wallet. This method requires a secondary verification method, such as a one-time code sent to your mobile device. If you are using a centralized exchange, this option will be available.
  2. Backup Your Private Keys: Safeguard your TRON holdings by securely storing your private keys or recovery phrases offline. These keys are essential for accessing your funds and should be kept in a safe and confidential location. Avoid taking pictures of these.
  3. Regularly Update Your Wallet Software: Stay up-to-date with the latest security features by regularly updating your wallet software. This helps protect against potential vulnerabilities and ensures optimal performance.

Here is our list of the best crypto wallets in the market.

What are The Use Cases of TRON (TRX)?

The TRON ecosystem serves various purposes beyond simple transactions. Some of the key use cases of TRON include creating dApps and Web3 games as well as content distribution.

Payments with Zero Transaction Fees

The TRON blockchain enables fast and cost-effective transactions, making it suitable for peer-to-peer payments and microtransactions without incurring fees. At the time of writing the network facilitates approximately 2,000 transactions per second, better than both Bitcoin and Ethereum.

Aside from the speed, Tron can offer users zero transaction fees as a result of its bandwidth and energy system on the network. Accounts on TRON are given an amount of bandwidth and energy that they can use for processing transactions. Should the transaction require minimal resources, then there is no fee. If it exceeds this amount, you must stake TRX to the network to be able to increase the bandwidth and complete the transaction.

Creating Decentralized Apps and Games

TRON’s robust infrastructure supports the development of decentralized applications (DApps) and gaming platforms, allowing developers to build innovative and interactive experiences on the TRON network. To be able to create a dApp on Tron you will need to smart contracts and tokens on the TRC10 or TRC20 Standards. Use the developer hub to set up your account before setting up and customizing your application for deployment.

Blockchain Cuties and Win NFT Horse are popular gaming applications on TRON. To learn more about Web3 games, check out our guide on the best play-to-earn games on TRON.

Content Sharing and Monetization

Lastly, TRON provides a platform for content creators to share and monetize their digital content, including music, videos, and other forms of entertainment. With TRON, creators can bypass traditional intermediaries and directly interact with their audience while earning rewards for their contributions.

Conclusion

This guide has broken down how to buy TRON coins on a crypto exchange. Overall, TRON offers a versatile blockchain platform with a wide range of use cases, from facilitating fast and fee-less payments to empowering developers and content creators. To buy TRX crypto, you simply need to follow the steps detailed above and ensure you choose the right exchange.

eToro stands out as an all-around good option for beginners, due to its user interface, social trading tools, and ongoing customer support.

Buy TRON on eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

FAQs

Can I buy TRON directly?

Yes, TRON (TRX) can be purchased directly from cryptocurrency exchanges or trading platforms like eToro that support TRX trading pairs.

What is the best platform to buy TRON?

The best platform to buy TRON is eToro. It’s essential to choose a reputable exchange with high trading volume and robust security measures. MEXC and Binance are good alternatives.

Can I buy TRON with a credit card?

Yes, many exchanges offer the option to buy TRON with a credit card. However, availability may vary depending on your region and the regulatory restrictions.

How much is TRON worth right now?

At the time of writing this, TRON is trading at $0.1227 per token.

How can I invest in TRON?

You can purchase TRON tokens from eToro using fiat currency or other cryptocurrencies. Once you’ve acquired TRX, it will be added to your account.

References

  1. Know Your Client (KYC): What It Means, Compliance Requirements (investopedia.com)
  2. SEC pursuing legal battle with Binance (CNBC)
  3. Crypto platform eToro considering NYSE IPO (Reuters)