Tron is a blockchain-based operating system that allows users to build independent apps and exchange media assets. The TRX token is used to obtain access to specific operating software functionalities. As a result, the token’s primary function is to be used on the Tron network. It may, however, be regarded as a virtual money because it is still a store of value that can be sold on exchanges.
Holding Tron (TRX)
Staking is the process of holding funds in a cryptocurrency wallet to support the operations of a blockchain network and, in return, holders are rewarded for their contribution.By making blocks those SR earn TRX rewards, that are redistributed to their voters. Stake your Tron (TRX) and earn up to 10% rewards in the Atomic Wallet interface.
Earning cryptocurrency income online has become increasingly popular for more people around the world. Many employers and marketplaces are now offering jobs and tasks that pay in crypto-currencies. In this beginner’s guide, you will discover how you can start earning your first free Tron TRX coins if you are interested in learning more about this digital currency, its community and the opportunities it offers.
Mine Tron
While you cannot mine the Tron blockchain to get TRX, it doesn’t mean that you cannot get TRX from mining. You can mine the Ethash, Kawpow, and RandomX algorithms and get mining rewards in TRX. You will be mining Ethereum, Monero, or Ravencoin just like you would do it normally. But instead of paying you rewards in ETH or XMR, the platforms would exchange them to TRX and pay your rewards in TRX.
Here is how you shall proceed to start getting mining rewards in TRX.
- Open a TRON wallet. You will receive your mining rewards there.
- Download and set up efficient GPU mining software. Claymore’s Dual Ethereum miner is among the most efficient options.
When the installation is completed, access and edit the start.dat file:
- Indicate what coin and algorithm shall be mined
- Where to send the rewards
Buy Tron
There are many different exchanges that you can buy Tron coin from, but I am going to show you the top five. Each exchange has its own advantages and disadvantages, so have a read on each one and decide which is best for you – buying TRX with a credit or debit card is preferable, so take your time and decide!
Binance
Created as recently as 2017, Binance is one of the most reliable crypto exchanges. One of their biggest disadvantages is that you can’t deposit or withdraw funds using fiat currency, which means that you will need to trade using a different cryptocurrency.
However, Binance is really popular because they list more than 100 different coins, including Tron. Every time you trade on Binance you will pay a fee of 0.1%, which is one of the lowest. Even better, if you use the Binance Coin, which is also a cryptocurrency, you get a 50% discount on all fees!
HitBtc
HitBTC is a multi-currency crypto exchange based in Estonia and has been providing its services since late 2013. It is perfect for beginners as they allow you to deposit using fiat currencies such as USD and EUR. If you are located in Europe this is normally through SEPA or SWIFT for other parts of the world.
Just remember, if you decide to use your bank account to deposit you will need to submit identity documents. You will also have to wait a few days for HitBTC to verify your ID. If you need to buy Tron quickly, then it might be better to deposit using another cryptocurrency like Bitcoin or Ethereum.
HitBTC has almost 200 different cryptocurrencies to buy and sell, including Tron. Just like Binance, trading fees are very low at 0.1%. However, depending on which coin you want to withdraw, the fees can be quite high.
OKEx
OKEx was launched in 2014 and originally only supported the Chinese language. However, as they became more popular they also offered English!
You can buy more than 100 different coins on OKEx and the website has lots of trading volume. Although they have a fiat currency facility, this is to allow advanced traders to buy complicated financial products, so this wouldn’t be suitable if you are just looking to buy Tron.
Security at OKEx is one of the best in the industry, with users required to complete verification steps every time they log in, trade or withdraw funds. Some people complain about the number of times they have to confirm their mobile number, but I think it’s good they take security so seriously!
Mercatox
Mercatox was created in 2016 and is a peer-to-peer exchange (P2P). This means that you are not buying Tron directly from the exchange, but from the person that wants to sell it. Think of P2P like person-to-person!
Funding your account is really simple as there are many different payment providers that can process fiat currency deposits such as PerfectMoney and Payeer! This will include debit/credit card and bank account deposits. Although this is very convenient, each payment provider will have their own fees, so check this before you deposit.
CoinEgg
Although CoinEgg is much smaller than the other exchanges I have listed, they have one of the highest trading volumes for Tron. Based in the UK, there are many different cryptocurrencies that you can buy and sell.
When it comes to support, there is a live chat facility, or you can submit an email ticket. Security is taken very seriously at CoinEgg and you will not be able to trade until you set up three security questions.
So there you go, you now know where to buy Tron coin from! Now it’s time for me to show you how to buy Tron coin with step-by-step images!
Stake Tron
Tron’s system is complex, especially for newcomers to crypto, so we recommend using Tron’s proprietary blockchain explorer TronScan. To link to the TronScan website and stake TRX, users must be holding TRX within a Tron compatible wallet, such as Tronlink or Ledger.
Users must freeze (stake) their TRX holdings for 3 days to become accepted as a node on the Tron network. Only then will they be eligible to take part in the voting process.
One frozen TRX token equals one vote. Votes are invalidated if you unstake and remove your TRX holdings.
The procedure is as follows:
1. TronScan. Go to TronScan’s Representative’s page.
2. Connect Wallet. Link your wallet via the “Connect wallet” button at the top right of the screen.
3. Vote Access. Click the green “Vote” button
4. APR. Click at the top of the “APR” column.
5. Tron Power. Before being able to vote for a preferred candidate node, you will need to freeze (stake) your TRX tokens for 3 days. Frozen TRX tokens equate to Tron Power (voting power). Click “Obtain TRON Power” on the dashboard. This will provide an option to freeze your TRX holdings. Enter the amount you wish to stake and confirm the transaction in your TronScan wallet.
6. Voting. After your TRX tokens have been frozen for 3 days, head over to the “Vote” tab and distribute your TRX voting tokens amongst your preferred Super Representative (candidate) nodes. Enter the amount of tokens you want to contribute and click “Vote”. Confirm the transaction in your TronScan digital wallet.Don’t worry about bandwidth points or energy at this point: these are to do with paying for transactions or other network activity.
7. Rewards. To claim your rewards, distributed by Super Representatives, click on “Personal Assets”.
8. Claim. Click the button that says “Claim Reward”. Your reward will then be credited to your wallet. Some Super Representatives instantly distribute.
Your available TRX balance and frozen (staked) TRX balance will be visible in your TronScan wallet.
How to Earn Free Tron?
- Tron Faucet
- Tron PTC Sites
- Tron Airdrop
- Tron GameFi
- Tron Bounties
- Learning About Tron
- Shopping Reward
- Tron Interest
- Owning a Faucet
- Write about Tron
- Tron Affiliate Program
- Free Tron Cloud Mining
Read More: How to Earn Free Tron (TRX) in 2022 (12 Safe Ways)
How Does TRON Work?
TRON was initially an Ethereum-based ERC-20 token. Today, it’s a separate coin working in the Tronix network. Everyone should learn that all data on the blockchain network is free. No financial or central authority controls it.
Content creators gain TRX coins as rewards for posting content. They can also create their tokens on the TRX network, which can be further used within users’ dApps on the TRON network. The main TRX token underpins newly created ones.
TRON runs on the proof-of-stake (PoS) consensus mechanism. The transactions within the network are validated by 27 super representatives that are chosen every six hours and earn a TRX coin as a reward for their work.
A new block is added to the TRON blockchain every 3 seconds. Users who add new blocks earn 32 TRX coins as rewards.
Tron (TRX) Coin Price Prediction
TRON technical analysis from CoinCodex showed that sentiment on the coin was bearish at the time of writing (25 April), with four indicators showing ‘buy’ signals compared with 24 ‘sell’ signals. Nonetheless, in its short term TRON price prediction, CoinCodex reckoned that the TRX value would fall around 10% to $0.057 by 30 April.
The TRON crypto price prediction from Wallet Investor was positive on the long-term outlook, predicting that TRX could trade at $0.093 in 12 months’ time. The algorithm-based site expected the price to reach $0.21 by April 2027.
DigitalCoin’s TRX crypto price prediction expected the price to trend higher at a slower pace. Based on historical data, the site forecast the coin to average $0.082 in 2022 and $0.1 in 2023, rising to an average of $0.12 in 2025 and $0.3 in 2030.
In its TRON coin price prediction Gov Capital also suggested a slower price rise initially, predicting that TRON could trade at $0.14 this time next year and at $0.55 in April 2027.
The TRX/USD forecast from Price Prediction was for a bullish long-term outlook, estimating that the price could climb from an average of $0.083 in 2022, to $0.26 in 2025 and on to $1.64 in 2030.
