Tron is a decentralized protocol on the blockchain that allows a worldwide free content on a distributed storage technology. The protocol will enable users to publish, store and own data in an independent form. It allows content creators to release, disseminate, circulate and deal with digital assets, forming a decentralized content entertainment ecosystem.
Justin Sun, who’s the CEO tends to position TRON as the new distributed economy in digital entertainment which includes streaming videos, online gambling to social networks where users are in control the economy. The cryptocurrency that runs on the TRON blockchain is called TRONIX (TRX). Tron also supports other cryptocurrencies.
The TRX currently ranks 17th position on the CoinMarketCap platform and has been making steady growth since the beginning of December.
Outside exchanges where the TRONIX cryptocurrency is traded, the TRX can be stored on MyEtherWallet where you have full control over your coins.
TRON can be acquired by exchanging with other cryptocurrencies like the Ether and Bitcoin. It can also be purchased using USD.
How To Exchange Bitcoin Or Ethereum Fron Tronix
Looking to exchange some of your Bitcoins or Ether cryptocurrencies for TRONIX? The Binance exchange would be the exchange that comes to mind.
Follow the following step to buy from Binance.
Create a Binance account if you are not currently registered on the platform. A quick form guides you through the registration process. All that’s required is a valid email address and a secure password. After registration, you will need to confirm your registration by clicking a link sent to the email you registered. This completes your registration and gives you access to using the platform.
Fund your Binance account. At this point, you need to send some Bitcoins or Ethers to the platform. The value of TRX you are willing to get tells you precisely how much BTC you’ll send on the platform.
To do this, click on the “DEPOSITS WITHDRAWALS” link, then search for Bitcoin/Ether in the list of cryptocurrencies displayed. Click on the “DEPOSIT” button in front of the cryptocurrency you want to fund with and a unique address would be generated for your use. You are to copy the address generated and send in some Bitcoins or Ethers into it from your external wallet or exchange where you have your cryptos deposited. Wait some minutes, and your coins should reflect in the wallet you sent it.
Exchange your Bitcoin or other altcoins for TRON. To do this, you need to click on the “EXCHANGE” link next to the Binance logo. On the page, you should find the TRX/BTC if you funded with Bitcoins or the TRX/ETH if you funded with Ethers. This should load up the chart of the pair you clicked upon.
At the Buy TRX section under the chart, the Price box shows you exactly the fraction of bitcoin you pay for every TRX you want to buy. Use the amount field to enter the quantity you are willing to purchase. The percentage buttons help in filling the amount box with how much of your funded cryptocurrency deposited on the platform you would want to use to buy Bitcoins. Use the 100% button if you are using all your funds. Click on the BUY TRX button and wait for your TRONIX coin credited to its wallet on the Binance exchange.
Note that high fees on the Bitcoin network have caused you a lot of money purchasing other cryptocurrencies. It cost a lot to move the funds to Binance and also transaction fees on the exchange for Bitcoin is sky high as well. A better approach would be to use the Ether is purchasing your TRONIX coin on Binance exchange.
How Binance and TRON partners to bring their coin holders a Merry Christmas
TRON plans to giveaway a Maserati, a Mercedes Benz, 2 Apple MacBook Pros and 5 iPhone X’s to their token traders on the Binance platform. The top 10 traders at the end of the competition would be awarded the prizes according to how well they have performed. Competition starts on the 10th of December and ends on Christmas day, December 25th, 2017.