How to Buy TRON - Beginner’s Guide 2022
Where to Buy Tron & Find the Best Rate
The cryptocurrency phenomenon is sweeping the globe, and showing no sign of slowing down. As such, buying TRON (TRX) from the comfort of your home has never been easier.
Do you want to join the digital currency excitement and learn how to buy TRON? If so, you have come to the right place.
In this guide, we show you how to buy TRON. On top of walking you through the step-by-step TRON investment process, we also explore what the future holds for this digital currency.
Not only that, but we also walk you through the process of finding a reliable online broker where you can buy TRON in a safe, beginner-friendly, and convenient manner.
How to Buy TRON In 5 Steps
You can follow the 5 steps below to make a purchase right now.
Step 1. The first step is to sign up with a broker offering access to TRON
Step 2. Fund your account
Step 3. Choose TRON (TRX) from the platform list
Step 4. Next, input the amount of TRON you would like to buy
Step 5. Confirm the information you have entered
How to Buy TRON Today
Ready to buy TRON right now with a debit/credit card or e-wallet? If so, the steps outlined below will you how to complete the purchase commission-free at FCA broker eToro!
if you’re looking for a step-by-step walkthrough, check out the below. We show you how to buy TRON today with eToro commission-free in less than 10 minutes!
Step 1: Choose an Online TRON Broker or Exchange
As is clear from the 5 step walkthrough listed above - it’s advisable to buy TRON via a respected online broker.
By signing up to a regulated crypto platform such as eToro, you will be able to purchase TRX coins in a direct and secure way.
The award-winning broker is as safe they come, boasting a license from not one, but 3 regulatory giants. Not only that but for US clients eToro is registered with FINRA.
Back to the subject of how to buy TRON, there are other ways.
Some people opt to buy cryptocurrencies from a third-party online crypto-exchange. At an exchange, you can exchange digital currencies like Ethereum and Litecoin to TRON.
The problem with this is that these spaces are usually unregulated, meaning they don’t have to follow any rules at all when it comes to customer care.
eToro serves a whopping 13 million clients and is regulated by the likes of FCA, CySEC, and ASIC - all are big names globally in terms of financial regulation. US residents can expect a level of protection and strict standards from FINRA.
Crucially, at eToro, you can buy TRON safe in the knowledge that your digital currencies are safe, and the company carries out day to day business with integrity.
Without regulation, the online broker space would be a free-for-all. Enabling faceless crooks and disingenuous brokers to run amock and take advantage of innocent investors.
Not only is it the characters behind the exchange you need to be cautious of, but stories of people successfully hacking and clearing out unregulated exchanges are more and more common.
Another route is to look after and store your own digital currencies by purchasing and then withdrawing TRX coins to your crypto-wallet.
The drawback could be that not only is it risky, but it’s a bit of a drawn-out process in a world where we want things done quickly and conveniently.
Furthermore, you are in charge of protecting your own crypto-wallet from hackers. As well as keeping your lengthy, ‘private key’ safe. Should your key end up in the wrong hands, you could lose everything.
The stark contrast between an exchange and eToro is that eToro will store your TRON. The platform does not charge anything for this safekeeping and as we said the platform is under strict regulation.
2. Payment Methods
When you want to buy something, it’s only natural to consider how you are going to pay for it. In terms of how to buy TRON, you should have no trouble finding a modern broker that accepts your payment type of choice.
In the infancy years of cryptocurrencies, people were often left with no choice but to use the slowest method of all - wire transfer.
At newbie favourite eToro you can buy TRON using various credit/debit cards, as well as ultra-speedy and convenient e-wallets like Klarna, PayPal, Skrill, and Neteller to name a few.
3. Fees and Commissions
Before diving in and signing up with an online broker to buy TRON, it is important to educate yourself on potential fees expected of you.
Cryptocurrency providers need to turn a profit so that they can continue to offer access to the markets and run their business efficiently. This profit usually comes in the form of commission.
The vast majority of online brokers charge fees, although they vary between platforms. We find that the fee tends to be variable as a percentage of your position.
Let’s have a look at how fees and commissions work when purchasing TRON:
- Crypto platform Coinbase charges a fee of 1.49% on every trade - entry and exit
- If you enter the market at $1,500 you will pay Coinbase $22.35 (1.49% of $1,500)
- Had you entered your TRON position at $10,000 you would have been liable for $149.00
Now, let’s illustrate how that same fee might affect you when electing to buy TRON:
- You place a buy order on TRON worth $1,000
- You pay a 1.49% commission which is the equivalent of $14.90
- When the time comes to sell, your TRON position is worth $1,500
- Once again you pay 1.49%, which equates to $22.35
- All in all, you have paid $37.25 in fees alone
As is blatant from the above illustration, although 1.49% sounds insignificant, over time these fees can greatly affect your profits.
Over at eToro, you would have saved $37.25 as the online broker charges 0% commission to buy TRON - or any asset for that
As far as deposit fees go, what you will have to pay depends on the platform. Coinbase, for example, charges a fee of 3.99% if you deposit via debit card.
Licensed broker eToro charges 0.5% on deposits, and this is charged if you are not paying in US dollars.
4. Other Important Factors
Now that we have talked about regulation, commissions, and trading fees - we should mention some other key metrics to consider when looking for a place to buy TRON.
- User-friendliness: This refers to how easy to navigate the online broker is. Do you feel confident using the platform? As a beginner especially, it’s important that you find placing orders and finding your way around a relatively simple process.
- Minimum Investment: Before you sign up to a platform to buy TRON, check the terms and conditions to make sure the minimum investment amount is within the boundaries of your budget. For instance, if your broker wanted a $500 minimum for each purchase, it might leave you unable to buy TRON as regularly as you would like to. At eToro you can invest from just $25.
- Storage: A key consideration when buying TRON is how to store it. Taking on the responsibility of storing your own digital currencies is daunting for newbies, and therefore best avoided. Moreover, if you buy TRON at eToro, the broker will safely store your crypto-assets until you want to cash out your investment.
Step 2: Come up With an Investment Plan
When deliberating how to buy TRON, our advice is to start with an investment plan. After all, preparation is key in any new venture.
The cryptocurrency market can be a very volatile place, so it makes sense to think about your objectives. A masterplan is a great tool for keeping a check on your investment emotions.
Let’s take a look at some easily applicable strategies to use when electing to buy TRON.
1. Long-Term or Short-Term
Consider - do you think you would be better suited to long-term or short-term investing when buying TRON?
If you feel like short-term might be the best option for you, then you will be riding the waves of the short-term price shifts of TRON in the hope of making a profit.
This is usually accomplished by placing multiple buy and sell orders on cryptocurrencies (in this case TRON) and selling them off within minutes, hours, or days.
If you time the market correctly, selling your TRON at a higher value than you paid - you can reap the profits that short term price fluctuations provide.
Speaking of fluctuations, digital currencies have been known to rise or fall by double-digit percentages in one single trading day. That right there is the very volatility that attracts many investors to this type of financial asset. The fact is, sometimes, the world rewards risk-takers.
In other words - the more you risk, the more you could potentially be rewarded.
If you feel like you might prefer a long-term strategy to buy TRON, you will be placing a buy order, and then holding onto your TRON coins for weeks, months, or years. This strategy is often referred to as the ‘buy and hold’ for obvious reasons.
Adopting a ‘buy and hold’ strategy, instead of short-term, eliminates the need to worry about the short-term changes in the value of TRON.
2. Target TRON Price
As well as utilizing an investment plan, you might also want to consider including a ‘target TRON price’.
- Let’s say your target is to double your initial investment.
- If you bought TRON at $0.0266, you would cash out if it reached $0.0532.
- If you wanted to increase your investment five-fold, TRON would have to climb from $0.0266 to $0.1330.
Now, although this sounds highly unlikely, consider this - in 2017 TRX coins were valued at $0.001.
Fast forward to 2018 - TRON was priced at $0.300. This amounts to gains of almost 30,000%.
3. Consider Regular Investments
As you can see from above, anything can happen in the world of cryptocurrencies.
That being said, it’s worth thinking about making regular investments to buy TRON. Rather than adopting a ‘gung ho’ approach and pouring your entire trading account funds into a single purchase.
Regular investments allow you to steadily build up your cryptocurrency basket without risking everything at once. In your quest of learning how to buy TRON - why not add a weekly or monthly investment to your strategy?
Beginner-friendly broker eToro will allow you to buy TRON from a mere $25 - which as you can see, makes regular investments easy for your average Joe Public.
Step 3: Open a TRON Broker Account
If you have dabbled in trading any other financial asset before (think along the lines of forex or stocks), then you will see that the procedure is the same to buy TRON.
When you’ve decided on a broker, you can go over to the webpage and sign up. This is usually very visible on the main page of most platforms.
Before you can buy TRON - the online broker will need to know your name, address, email, telephone number, and date of birth. Then, in order to verify who you are, you will be asked for a photo ID in the shape of a passport or driver's license.
To prove your address, upload a copy of an official letter - such as a telephone/utility bill or bank account statement.
At eToro, this step doesn’t need to be taken until you want to withdraw funds (or deposit more than $2,225). However, you might just want to get it out of the way when signing up.
This might sound like a drawn-out process, but the fact is that crypto-exchanges are often unsafe. Furthermore, you might be surprised to learn that at regulated brokerage eToro this process takes less than 10 minutes!
eToro provides a service for over 13 million clients around the globe, is licensed, registered, and regulated by some of the most respected financial bodies in the world.
We mentioned there that the sign-up process takes a matter of minutes. Some platforms can take days at a time to process ID. In contrast, eToro uses automated ID validating technology for speed and convenience.
Ready to buy TRON?
Step 4: Deposit Some Funds
After following steps 1 to 3 - and having already ensured your payment type is accepted - you can fund your account to buy TRON.
The most popular, not to mention the quickest, way to deposit funds is by using a credit or debit card. Not only that, but e-wallets are fast becoming the go-to way to pay online.
eToro couldn’t make this part of the sign-up process easier. The online broker accepts Visa, Mastercard, and Maestro - plus others. When it comes to e-wallets, there is an impressive selection including PayPal, Klarna, Skrill, Rapid Transfer, and Neteller.
We recommend avoiding wire transfer where possible - as it is the most slow-moving payment type.
In terms of minimum deposits, this tends to be between $0 and $1,000 - in some cases more. At eToro, you can buy TRON with a minimum deposit of $200, and a minimum investment of just $25!
Step 5: Set up a Trading Order
Now that you have successfully funded your new eToro account, you can create an order to let the broker know your position on TRON.
We have put together a list of popular orders, all of which you can use yourself when thinking about how to buy TRON.
1. Buy Order
A ‘buy’ or ‘sell’ order is your entry into the cryptocurrency market.
Before you can buy any digital currency, you must first decide whether you believe the price will rise or fall.
If you think the price of TRON is going to increase - place a buy order with the crypto platform.
If the online broker enables clients to ‘go short’, you can simply place a sell order with your broker if you think the price of TRON will fall.
This enables you to make gains from both the rise and the fall of TRON.
2. Limit or Market Order
This brings us to ‘market’ and ‘limit’ orders. As we said, if you become a short-term investor you will be looking to make gains from the short-term price spikes of the asset in question.
With this in mind, if you are quoted $0.0264 when electing to buy TRON and like that price - place a ‘market’ order. Your broker will action this order immediately, meaning you purchase the coins at $0.0264, or as near as possible.
It’s important to remember that supply and demand will affect the price you get, but this tends to be a tiny difference. For instance, if you choose a market order at $0.0264 - but get $0.0262 - this is unavoidable.
Limit orders are quite different, as your order is not executed immediately. Instead, you can specify a price at which to enter the TRON market.
To further elaborate, see an example of how a limit order can be used:
- TRON is valued at $0.0264 - you do not want to action your buy order until it hits $0.0274
- With this in mind, you place a ‘limit’ order at $0.0274
- If, or when, TRON hits that target of $0.0274 the broker will execute your limit buy order
- Your position remains the same until you cancel the order, or TRON reaches the aforementioned price point.
As you can see, market orders are executed immediately. Whereas limit orders remain until either your target is reached or you cancel it. Regardless, both are very useful to be aware of.
Now that you have the basic orders down, you will need to think about how to buy TRON in terms of stake. In layman's terms - how much TRON would you like to buy or sell?
We touched on the fact that a sensible thing to do for beginners is to invest little and often to lessen your risk on each purchase.
Over at eToro, you can buy from just $25 worth of TRON as and when you wish, quickly and conveniently.
4. Confirm Order
When you have gone over your choices, confirm your orders. eToro will now execute your buy or sell order, market or limit order, and stake.
If you have a look at your eToro portfolio, you will see that your newly bought TRX coins are right there.
Step 6: Storing Your TRON
We have mentioned storage more than once during this beginner’s guide. After all, it’s a crucial consideration of how to buy TRON.
The fiat money we use every day to pay for goods is stored at big banks. Digital currencies need to be stored on a decentralized ledger.
As we said, you can store your own digital currencies and buy TRON via an exchange but it will likely be free from the watchful eye of financial bodies. This also means that you will be expected to look after your own TRX coins in a private crypto-wallet.
Rather than putting yourself and your digital assets in a vulnerable position, you can simply store your TRON at eToro at no extra cost.
Here you are protected by regulation from CySEC, ASIC, and the FCA. Not only that, but eToro is also registered with FINRA in the US.
Step 7: Selling Your TRON
At the risk of sounding like a broken record, the whole point of learning how to buy TRON is so that you can make money by selling it on later.
Ergo, at some point down the line, you are going to want to cash out your investment. Undoubtedly, the easiest way to do this for any investor is to do so via regulated online brokers.
If you elect to buy and sell TRON at a third-party cryptocurrency exchange, you will be asked to first swap TRON to a digital currency like Bitcoin - which comes with a charge. The next step is usually to make a request for withdrawal and await instruction.
If you buy TRON via eToro, when the time feels right to cash out - simply hit sell. Next, your money will be transferred to your original payment method as required by KYC.
Ready To Invest In TRON?
Other Ways to Buy TRON in 2022
If you are still unsure about how you want to buy this speculative asset - see below some alternative ways in which you can buy TRON now.
1. Buy TRON Debit Card
Debit Cards are used by millions of people to shop online every day - you can also buy TRON this way.
If this payment method suits you, all you have to do is fill in your card details as you normally would and ‘confirm’.
When you want to cash out your investment, simply click the sell button and eToro will send the funds to your debit card.
2. Buy TRON Credit Card
eToro accepts credit cards to buy TRON too. However, you should check with your credit card provider how much it charges for the ‘cash advance fee’. This is because some credit card companies consider brokerage deposits in the same light as ATM withdrawals.
This fee can range from 3% to as much as 5% of your purchase, so always check the T&Cs before committing to buy TRON with a credit card.
3. Buy TRON Paypal
PayPal is known worldwide for offering fast and super secure online purchases. TRON can be purchased using PayPal too.
Not all platforms are compatible with this e-wallet, but eToro accepts PayPal, Skrill, and a range of other providers.
4. TRON ATM
TRON ATMs and traditional ATMs are quite different. Whilst we withdraw money out of traditional ATMs, we put money into TRON ATMs.
There are thousands of cryptocurrency ATMs around the world.
Here’s how it works - enter fiat cash into the ATM, the screen tells you how much TRON you will receive, hit confirm, and get a receipt.
Note, the fees at these machines can be in excess of 10%. So, regulated broker eToro is a more cost-effective option with 0% commission to buy TRON.
How to Buy TRON 2022 - The Verdict
In our beginner’s guide on how to buy TRON, we talked about all aspects of purchasing this highly speculative digital asset.
By covering regulation, order types, fees, and investment plans in detail - you should hopefully feel ready to begin your journey into the world of TRON.
In terms of where to buy TRON safely, we shine a light for eToro. Here you will be protected by a handful of respected regulators around the world.
Moreover, the broker is entirely beginner-friendly, will store your TRON coins free of charge, and you can sign up in fewer than 10 minutes with a good selection of payment types.
eToro –Best Platform to Buy TRON
eToro have proven themselves trustworthy within the crypto industry over many years – we recommend you try them out.
Virtual currencies are highly volatile. Your capital is at risk.
How easy is it to buy TRON?
It is very easy to buy TRON. Elect to join eToro, fund your account with $200 or more, and place an order to buy TRON from $25 upwards.
What is the safest way to buy TRON?
The safest way to buy TRON is via a licensed platform such as eToro. The broker is registered with FINRA and is regulated by the FCA, CySEC, and ASIC.
Can I buy $100 of TRON?
Yes, you can buy $100 worth of TRON. If you are a beginner, you will be better off making small regular investments instead. At eToro you can buy TRON from $25.
Can you lose money on TRON?
Yes. Much the same as you can make a loss with any asset. As such, learn the market and never stake more than your investment plan allows.
What is the most TRON has been worth?
The most TRON has ever been worth was $0.300 in 2018.