Convert TRX to USD
List of cryptocurrencies and tokens supported by PassimPay crypto wallet. Secure storage for a variety of digital assets.
btcBitcoin
tonToncoin
ftnFasttoken
ltcLitecoin
busdBinance USD
ethEthereum
bchBitcoin Cash
zecZcash
dogeDogecoin
bnbBinance Coin
pepePepe
usdtTethertrxTron
usdcUSD Coin
xrpRipple
usddUSDD
notNotcoin
eosEOS
adaCardano
shibShiba Inu
dashDash
hftHashflow
dydxdYdX
linkChainlink
aaveAave
crvCurve DAO Token
achAlchemy
flokiFloki
maticPolygon
daiDai
nearNEAR Protocol
atomCosmos
twtTrust Wallet
dotPolkadot
avaxAvalanche
flowFlow
ksmKusama
bonkBonk
solSolana
dogsDogsWhat is Tron?
TRON is a decentralized operating system based on blockchain, founded by the CEO of the TRON Foundation, Justin Sun.
The main project idea was to create a platform for the distribution and exchange of content and entertainment without intermediaries on a paid basis. Therefore, content creators can place their product on it without control of the content provider (e.g., censorship, advertising, or other restrictions) and without sharing profits with a third party.
For example, if an author posts a game app on one of the platform's websites, other users can buy it for TRON cryptocurrency, which falls into the app creator's account. That benefits not only content and entertainment creators but also ordinary users. This system allows content to be cheaper than on other platforms such as YouTube, Google Play, App Store, etc.
How Does TRON (TRX) Work?
TRX was formerly created using the ERC-20 standard on the Ethereum platform. However, in 2018, after developing its blockchain, TRC-20 coins were issued. Previously used ERC-20 tokens burned.
The TRON platform, based on an improved version of the Proof-of-Stake consensus mechanism, Delegated Proof-of-Stake, allows the owner of TRX to participate in the ecosystem's life.
The DPoS consensus mechanism does not permit users to mine. Nevertheless, the TRON creator does not exclude the possibility of mining in the future when the coin becomes even more popular.
Unlike the Ethereum blockchain, which charges high transaction fees, the TRON system allows 15 transactions for free. Fees for subsequent transactions are set according to the individual transaction's bandwidth score.
Where to Buy and How to Use TRON (TRX)?
There are two ways to purchase TRX:
Cryptocurrency exchanges. This coin trades on many exchanges, such as Binance, KuCoin, Huobi Global, Coinbene, Bitfinex, etc. You should register on the selected platform and choose the available cryptocurrency pairs for exchange to buy it.
Online exchangers. This method is most suitable for those users who already have cryptocurrency. The disadvantage of buying from online exchangers is a higher conversion rate than in cryptocurrency exchanges.
PassimPay exchanger. You can convert TRX into 45+ coins and withdraw them with low fees.
TRX tokens can be used to buy content and entertainment on the TRON platform or its applications (DApps). Occasionally, users use the coin to pay for tangible services and goods, but this is not as common.
Where to Store TRON (TRX)?
The easiest way is to use the official wallets supported by the platform (Trust Wallet, TronLink, Klever, etc.).
You can also use multi-currency services such as PassimPay, Trezor, Metamask, etc.
When selecting a wallet for crypto, it is necessary to carefully examine the chosen storage, as, in the case of a hacker attack or loss of access to the wallet, you will lose your coins.
For example, PassimPay partially uses cold storage, the safest one, along with various systems and technologies to protect user data.
Pros and Cons of TRON (TRX)
The upsides for Tron (TRX):
- low TRX (Tron) price;
- high transaction speed;
- business leaders support and focus on a huge market (the entertainment industry), which creates a push for development;
- work with giant platforms.
The coin's cons include:
- no mining option;
- used consensus (DPoS) is more susceptible to hacker attacks than the same PoW (Proof-of-Work);
- a limited number of coins (about 100 billion).