With the number of cryptocurrencies increasing in the market, it can be challenging to pick the best ones from the rest. TRON (TRX) is one of the many cryptocurrencies that has created quite a buzz in the crypto space, and for all the right reasons. Its rising popularity, demand, and market valuation have made people want to include it in their portfolio. But is popularity and rising market value enough reasons to buy tron in India? You’ll have to gain a better understanding of this cryptocurrency to see if it’s worth investing in tron and ways to purchase it without any hassle.
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What is TRON (TRX)?
Tron was first launched on Ethereum but later migrated to its own blockchain technology platform in mid-2018. It is pretty similar to Ethereum, but its developers aim to make it better and more scalable than Ethereum. The primary aim of this cryptocurrency was to revolutionize the way people assess content produced by their favourite content creators. Take YouTube, for example. Content creators who give in hours to create engaging and valuable videos have to use the YouTube platform to reach their target audience.
As a result, much of the control remains in the hands of this video platform. And YouTube even takes a considerable portion of profits from content creators. Tron aims to remove such intermediaries, allowing people to directly consume content from their favourite creators and pay them directly. It basically wants to change the way people consume online media or content in their day-to-day life. If you’re a content creator, you will love what Tron is trying to achieve.
Ethereum is pretty good when it comes to letting developers create their own dApps, but it has issues with transaction speed, scalability, high fees, and a bunch of other issues. Tron is trying to fill the gap by creating a platform that can give tough competition to Ethereum by offering the features Ethereum lacks. So if you’re considering buying TRX, Tron’s native currency, it might be a good idea.
How to Purchase Tron (TRX)?
To purchase Tron, you’ll have to first create an account in a reputed crypto exchange platform. If you’re new to cryptocurrency, beginner-friendly exchange platforms like CoinSwitch should be your choice. When you’re ready to purchase TRX, follow the below-mentioned steps:
- Step 1: Download the CoinSwitch app and create an account.
- Step 2: Upload the required documents to pass the KYC verification test. Your account will only be activated for use when your KYC documents get approved. This step is followed by all trustworthy crypto exchange platforms to prevent fraud with their users.
- Step 3: Once your account gets activated, head to the dashboard and search for the list of cryptocurrencies the exchange platform supports.
- Step 4: Search TRX from the list and click on the “Buy” button.
- Step 5: Insert the amount in INR equivalent to the purchase value and add it to the wallet.
- Step 6: Proceed with the transaction and wait for a few minutes to get it approved.
Once the transaction gets approved, the purchased TRX will get credited to your crypto wallet. You can now use this digital coin to make further transactions. You can also cash out your crypto investment at any time by converting tron to inr using Coinswitch or the same exchange you used to purchase this digital currency.
Is it Worth Buying Tron (TRX)?
The crypto market features around 14,000 digital coins, out of which Tron ranks among the top 30. Since its launch, Tron’s prices have undergone a rollercoaster ride, but it did benefit its buyers over a period. If you look at the future prospects of Tron, it has a bright future because of the several use cases it can be used for. Tron was primarily created to revolutionize the entertainment industry, wherein individual creators have more control over how their content is distributed online.
With the growing number of individual creators online, it will be fair to say that Tron can expect to see higher valuation and greater popularity in the coming years. Another point to note is that while all cryptocurrencies are highly volatile, Tron has experienced lesser fluctuations when compared to others. Whether you’re starting out in the crypto space or have been trading for quite some time, having Tron in ones’ portfolio will be a good idea.
When to Purchase Tron (TRX)?
There is no particular good or bad time to purchase cryptocurrency, as their price keeps fluctuating, and Tron is no different. For example, from being traded at a measly $0.002 during its initial stage, its value reached a whopping $0.30 within a few years. It crashed down to $0.01 and later recovered to $0.16. Such fluctuations are considered normal for cryptocurrencies, so you have to decide when you want to purchase it.
The price can either skyrocket or crash after your purchase; it is something no one can predict. So if you’ve decided to buy Tron, do it now instead of waiting for the perfect time. Now that you have the details necessary to purchase Tron without any hassle, make sure you are buying it through a popular crypto exchange platform that offers the best features and excellent customer support for a pleasant crypto trading experience.