What Is TRX Coin?
TRON (TRX) is a digital asset on the blockchain platform that is provided to exchange free, decentralized user-generated content. With this cryptocurrency, content creators can sell directly to consumers, with no need to use the App Store, Google Play and other third-party services. Users invest in TRON crypto because it provides users with a free and reliable platform for posting, keeping and sharing photos, audio, video and other data.
TRON Brief History
The TRON coin project began in 2017 and was the most ambitious and controversial project of that year. The team presented their roadmap consisted of 6 stages:
- 2017-2018. Monitoring the platform in test mode.
- 2019-2020. Formation of a decentralized environment for posting content and the launch of the mechanism of incentives for active participants of the system.
- 2020-2021. Solving technical issues related to the accrual and payment of dividends.
- 2021-2023. Implementation of a publicly available mechanism for creating new tokens based on the platform with the possibility to sell them through ICOs and exchange them for other cryptocurrencies.
- 2023-2025. Development of new projects based on the TRON source code.
- 2025-2027. Creation of a blockchain-based crowdfunding system.
The developers mentioned that if these plans come to fruition, there will be a new roadmap going forward, starting in 2028.
In Autumn 2017, this digital currency appeared on the most popular exchanges. The TRON (TRX) price was low, one point could be bought for 1 cent, and its market capitalization was $70 million. Till winter, the rate did not change, and few believed that TRON could make it to the top.
Nonetheless, due to a PR campaign and the attraction of the main cryptocurrency investors, the coin's market capitalization was over $160 million in December.
TRON was originally launched on the Ethereum blockchain and TRX were ERC20 tokens, but after the ICO was completed in the middle of 2018, it moved to its own blockchain.
Where To Buy TRON And Store Coins
Today, users who think about how to buy TRON can choose from over 80 cryptocurrency exchanges. For example, you can buy it at StealthEX. It won't take much time using both computers and smartphones. Then they can store these tokens in one of the wallets. Except for desktop programs, they can use mobile wallets, such as Tronlink or Trust. These apps allow users to read TRON coin news, watch a current TRX (TRON) price and use other tools.
What Is TRON Coin Used For?
Users should purchase TRX for paying for the content they want to get. The payment goes directly to the creators of the content. It is also used to pay for what people do on the hundreds of DApps developed with the help of the TRON blockchain. These coins can also be exchanged for other digital assets or to pay for services on the blockchain.
Even though it is not yet very popular, people can use these coins for daily payments.
This digital currency can also be used for long-term investments.
Users on the network can lock in their assets for a while to get TRON Power. This gives them a say in decisions on the network. They aren't allowed to use coins because they are locked, and it ensures that they are not used by other people.
Much of the increased popularity of TRX and the TRON project was caused by the DeFi boom that hit the crypto market in 2020 and will continue into 2021. The Justlend project, hosted on the TRON blockchain, got famous. It is TRON's first DeFi lending service, allowing people to issue loans with TRX tokens and earn money through accrued interest.
Nonetheless, TRON has also been criticized by some DeFi specialists. On social media, some users noticed that TRON is a centralized asset.
Should I Invest In TRON Crypto?
The TRON crypto project has good prospects for further development, and the TRON coin price prediction for this year is positive. What's more, it's supported by many influential Chinese businessmen and has a strong team.
However, investments in such a project will bring rather big risks, but long-term investments can bring a good profit to users.
Justin Sun paid $4.5 million for the charity lunch with Warren Buffett who is considered one of the most successful investors in the world. Buffett's famous rule states: “never invest in a business that you cannot understand.” That is why he did not invest in tech companies until he took a stake in IBM in 2011. “Buffett’s investment philosophy is to buy things at a price cheaper than their actual value, so they will have room to appreciate. Whereas, it’s the opposite case for ‘air coin’ (a term invoked by Chinese investors skeptical of the hype around cryptocurrency)” said Shen Meng, founder of the Taiwan-based blockchain firm, commenting on the Justin Sun’s lunch with Warren Buffet. Justin Sun himself stated that the main goal of the lunch is to persuade Warren to start investing in cryptocurrencies.
Where Can To Buy TRON Coin?
If you are looking for where to buy TRX coin, we will show you how to buy TRON cryptocurrency for another crypto using the StealthEX exchange platform. It’s a super-friendly, non-custodial and limitless cryptocurrency exchange platform. So if you already have savings in crypto and wish to invest in TRX coin, just go to StealthEX and follow these easy steps:
- Choose the pair and the amount for your exchange. For example ETH to TRX .
- Provide the recipient address to which the coins will be transferred.
- Move your cryptocurrency for the exchange.
- Receive your TRX coins.