5 Ways To Invest In Tron In 2021
Founded in September 2017 by Justin Sun, Tron can be termed as a decentralised platform based on blockchain and peer-to-peer technologies. It was created with the aim of providing a global and free-of-cost digital content entertainment system to people across the world. Using this platform, content creators everywhere can easily share digital content in a cost-effective and easy manner and earn financial rewards in return.
The primary intent of Tron was to bring content consumers and content creators onto one single platform, doing away with the middlemen. It’s a win-win situation for both the entities as consumers end up paying a lesser cost and content producers can improve their collections through direct receipts.
The Tron network is powered by its native cryptocurrency Tronix (TRX). With a total market cap of around US$ 8.6 billion, Tron was trading in the vicinity of $ 0.1 per coin at the time of writing this piece. Having some very solid fundamentals, Tron is filling up a space which enjoys a huge demand throughout the world. More recently it also acquired BitTorrent, the wildly popular file-sharing service, in 2018. Needless to say, Tron is potentially an excellent investment option for anyone who‘s confident about the potential of blockchain technology going forward.
1. Trade Tron
One of the easiest ways of investing in Tron is by trading its coin on an online broker platform. These crypto broker websites allow you to use financial derivative products like Options, Futures and CFDs (Contracts for Difference) to profit from the volatility of Tron’s market price, and possibly make a secondary income for yourself. What really sets this type of trading apart is that there’s no exchange of the actual cryptocurrency per se. You simply speculate on the possible price movements of Tron. Resultantly, you don’t require any kind of software or hardware crypto wallet to store any TRX either.
Though such trading seems like a very exciting prospect, it must be indulged in only if you have some knowledge of short-term crypto trading and can use analytical tools to your advantage. Novice cryptocurrency investors are advised to go slow and first learn the ropes, before tying up large amounts of capital in such trading.
Where to trade Tron
If you’re confident that trading on a broker platform could be the best way for you to invest in Tron, you will need to first open an account with a reliable broker website. This will involve providing them with some basic personal details and clearing their identity verification process (as a part of their KYC procedure). Once your account is activated, you’ll be able to deposit funds and take long or short positions to trade TRX based on your research.
The past few years have been very eventful for cryptocurrency traders all over the world. Today, there are many broker platforms willing to go the extra mile to get your business. However, you must carry out thorough comparative analysis on the top broker establishments before signing up with any of them. Some of the important parameters you can use in this regard include regulatory compliance, customer service, deposit & withdrawal options, commissions, security protocols and so on. As is evident, factoring in so many aspects to compare multiple brokers can be a very tiring task. We’ve done all the due diligence on your behalf and have provided below a list of some of the best cryptocurrency brokers out there.
2. Buy and HODL
What started as a casual rant and misspelling by a frustrated Bitcoin investor on an online forum back in 2013 has today become one of the most trusted cryptocurrency investment mantras for a large number of people across the world. HODL was a misspelling of ‘hold’ that has become a backronym for ‘Hold on for Dear Life’ and points to the popular ‘Buy and Hold’ investment approach.
As per this strategy, you buy a cryptocurrency with the intent of holding onto it for the long term, hoping for its price to appreciate significantly in the future. People who invested in Bitcoin back in 2013 and held on to their coins all these years would very well know how effective it can be! However, to master it, you must learn to stay patient and overlook the crypto market fluctuations along the way. What’s even better is that you don’t need to have any trading knowledge to benefit from this approach.
Confident that the ‘Buy and HODL’ approach is for you? Well, you first need to acquire some Tron, to be able to hold onto it for the long term. There are different ways you can purchase Tron online and many different cryptocurrency exchanges. In order to save you from all the confusion and trouble, our team has created a handful of dedicated pages for TRX purchase with some very popular payment methods. The links to all these pages can be found below. Please note, you’d need to refer to your local cryptocurrency laws, to confirm if you’ll be able to use these options or not. Additionally, these payment methods may involve certain charges too.
- Buy Tron
- Buy Tron with PayPal
- Buy Tron with Credit Card
- Buy Tron with Debit Card
3. Invest in Cryptocurrency and Blockchain Companies
If trading or buying Tron is not your preferred idea of investing in the cryptocurrency, you could alternatively look for start-ups or established companies that are either heavily invested in Tron or actively use the technology in their daily operations. Buying or trading the stock of such companies can help you indirectly invest in Tron and benefit not just from the currency’s positive price movements, but also the performance of that company.
But please be aware that investing in the shares of such a business will also require you to engage the services of a dependable broker platform.
Where to invest in Tron shares
Once you have successfully identified a broker website you’d like to use to invest in the stock of a Tron-based organisation, you’ll need to sign up with the portal and then either purchase the actual shares of the company (if such a service is offered by the broker) or bet on the price movements of that company’s shares via derivatives like Futures, Options, CFDs and so on. The broker may provide you with leverage facilities too, enabling you to gain larger exposure, without investing a lot of capital. Please tread cautiously as such trading activity can lead to both huge gains as well as losses.
Considering the fact that the brokerage platform will play a critical role in the entire activity, you must choose yours with great care. The ideal way to go about it is by thoroughly studying some of the best ones in the market, based on factors like their security protocols, charges, regulation, payment options, customer service and so on. Such detailed study can consume a lot of time, which everyone may not have. For this reason, we have conducted a detailed comparative analysis of the top-rated cryptocurrency brokers in the market, and have listed the best ones for you below.
4. Become a Staker
The Tron protocol makes use of a consensus mechanism referred to as ‘Delegated Proof of Stake’ (DPoS) to secure its blockchain. This type of mechanism is quite similar to the conventional ‘Proof of Stake’ (PoS) system, in the manner that it enables the TRX owners to stake their Tron holdings and earn a passive income from that. Whenever Tron owners stake their TRX holdings (normally at a 1:1 ratio), they receive something called Tron Power, which is very crucial within the Tron network. This Tron Power earns these Stakers the right to vote for the next set of 27 Super Representatives, who are responsible for the entire Tron network’s transaction validations and for producing new blocks. The Stakers can convert their Tron Power into TRX after 3 days, thereby acquiring more TRX tokens for themselves.
Where to store Tron
Once you decide to stake your Tron coins to select ‘Super Representatives’ and earn more coins in the process, you will require a safe and compatible place to store your TRX tokens. There are many software and hardware wallets available in the market for this purpose. You can go with any of them depending upon your exact requirements and how you intend to use your TRX coins in the future. Below we’ve listed the best cryptocurrency wallets you can use to store your TRX.
5. Become a Tron Developer to Make Money
Please know, in order to qualify as a Tron developer, or for that matter to develop apps for any blockchain out there, you should preferably have some programming education under your belt. It would be ideal to have a software engineering degree, and some hands-on experience with coding. Once you begin, you’ll be able to create all kinds of apps for the Tron platform, and thus perhaps acquire some Tron for yourself too, in an indirect way.
Expert Tip on When and How to Invest in Tron“ As a final summary, we’d like to state that we delved into multiple ways of investing in Tron in this article, beginning with trading TRX, buying and holding the currency, investing into Tron-based businesses, becoming a Tron Staker, and lastly getting into Tron development. Before you start investing in Tron, it would do you a world of good to acquire some investing education, covering price analysis, charts, forecast of market movements and various other aspects covered by fundamental and technical analysis. Last but not the least, remember there is no right or wrong time to invest in Tron. You’re good to go as long as you have done your share of due diligence and are confident about your actions. Most importantly, you should be open to learn from your mistakes and improve as you go along. ”- Ashish Sood