Where to Convert BTC to TRX
Finding the best place to convert BTC to TRX can be challenging, especially when there are scam vendors out there that have set up dummy sites just to steal your Bitcoin. It gets even more complicated when many of the reputable cryptocurrency sellers either don’t offer the facility for a BTC to TRX conversion or if they do, the rates aren’t competitive.
This guide gives you all you need to know about converting BTC to TRX and how to avoid common BTC to TRX conversion mistakes.
Related Post: How to Protect Your Bitcoin From Hackers
What is TRON (TRX)?
TRON (TRX) was originally an ERC20 token which is a subtoken on the Ethereum network. In its original incarnation, TRX was a bit underwhelming as a project, and although it was launched in 2017, by 2018 it had changed. That change was a big one as TRON became an independent crypto platform and left its ERC20 days behind it.
Under the new form of TRON, it has taken the world by storm, quickly climbing the market capitalization rankings and outperforming many of its competitors. TRON is marketed as an alternative to Ethereum with even more features.
TRON is now so popular that just this year the creator sat down for a private lunch with Warren Buffet to discuss the project and the opportunities in cryptocurrency markets.
Why Trade Bitcoin for TRON?
There are two main reasons why many people opt to trade their Bitcoin for TRON as opposed to other cryptocurrencies. The first is that it is often easier with more vendors willing to offer BTC to TRX currencies as a trading pair. Bitcoin has been the cryptocurrency trusted by platforms and vendors for quite a while now. As such, it is often offered as the primary trading pair (occasionally Ethereum is offered as a primary on some platforms).
The second reason is that both Bitcoin and TRON are competitive cryptocurrencies. Luckily for traders, there is plenty of profit to be made by trading between the two.
Where to Convert Bitcoin to TRON (BTC to TRX)?
Trading BTC to TRX is now much more common than it used to be and there are now a handful of exchanges and platforms that offer a BTC to TRX facility. When choosing an exchange or platform you should check the following:
- Whether the exchange or platform is reputable and well-known in the crypto community. You can do this by checking on crypto forums and asking others if necessary.
- Check the trading limits and make sure that you can transact in the amount that you want to. Many platforms have strict unverified trading limits and require proof of identity to transact beyond those thresholds.
- Compare the offered rates and make sure they are competitive. Often, you will find inflated buy prices on poor quality exchanges and platforms.
- Check the transaction time. Some platforms will try to pair you with sellers rather than execute a trade directly. This means it could be several days before your transaction is completed, which isn’t ideal if you want to trade more actively.
- Finally, check to see what fees are applied to your currency trade. Some platforms are transparent with fee structures while others keep them hidden.
Also Read: Why is the cryptocurrency market famous?
Once you have found the right platform you should be able to proceed with your transaction without any complications. As long as you have followed the steps above, you should be trading on a reputable platform with low fees and good rates. You should also be able to transact quickly and without the need for lots of identification.