As the New Year is already up and running, the 2018 Guide to TRON can help you with insights to get the most out of this top performing cryptocurrency.
TRON is the brainchild of Justin Wu, the former Chief Representative of the soaring crypto prodigy, Ripple.
TRON was launched in 2017 and entered the trading charts on September 13th 2017 at 0.0001745 to the USD.
As the cryptocurrency price surge raged in December 2017, it leapt by over 500 percent to trade at 0.04264.
What is TRON?
The TRON business model is one that ties its token (TRX) to its entertainment content mechanism on the Blockchain.
The protocol used by TRON enables users of its platform to publish, share, store, and promote data without cost. Each user is free to decide the basis to share or exchange created content on the platform.
TRON platform users can leverage on Blockchain’s decentralized protocol to innovate entertainment content that will be available globally.
Each user can decide to provide subscription services leveraged on TRONIX (TRX) as the official exchange currency (other cryptos are also supported).
TRON’s adoption of the Blockchain makes it possible to propagate decentralized content using its trademarked protocol.
The easy access to the platform makes it inevitable for content to be developed endlessly by users to give rise to an evolving content ecosystem.
Users of TRON are able to create and share videos, audios, images, symbols and characters that can be marketed by tying them to cryptocurrencies as medium of exchange.
Using TRONIX, all accounts on TRON platform derives their value. When TRONIX gets locked by the user, the reward is TRON Power. TRON Power gives a user more privileges and voting power on the TRON Blockchain.
There is also a personal approach to ICO on TRON Blockchain. In other words, an entity can launch ICO on the platform through distribution of digital assets.
As more parties come on to the platform to purchase these assets, the underlying value grows and increases to the benefit of the issuer.
What to do when Buying TRONIX
TRON is not one of the cryptos that can be bought by fiat currencies, and this was how it was designed. However, the pricing today gives you an idea of its worth in USD.
Here are the steps:
• Go to an exchange and register
• Using Coinbase,EtherData, Binance or HitBTC is recommended
• Fund your account at the exchange
• A credit or debit card is faster if you don’t mind the higher charges
• Purchase Ethereum, Bitcoin or Litecoin
• Using Ethereum is recommended for its low transaction cost relative to Bitcoin
• Use the tab on your dashboard on the exchange of your choice
• Select market tab
• Use the drop down to select ETH/TRX
• Enter the units of TRON you want to buy
• This will reflect in your account balance
• You can move this to Ethereum wallets like MyEtherWallet for better security.
Like other cryptocurrencies, TRON can be traded. The means of trading is to utilize exchanges, localBitcoins or any other peer-to-peer mechanism.
Trading in itself is to enable you take advantage of a rise in price so that you can reap the gains if you bought at a lesser price.
As TRON broke into the Top 10 most capitalized crypto in the first week of January 2018, the doors have been thrown open for more trade.
What you can do:
• Buy your TRX and store in your wallet
• Sell as the price surges
• Leave your TRX unsold for a longer period
• Wait for mega price surge
• Sell at such highs for cash or exchange it for other cryptos of your choice.