Business Daily Media

Investing in TRON (TRX) – Everything You Need to Know

  • Written by Anna Melnikova


In 2017, a cryptocurrency called TRON (TRX) that has a fair few ups and downs was launched. Three years later it has become one of the most popular cryptocurrencies by market capitalization and the future is looking good too. Let’s take an honest look at TRON and how it has performed so far.

This is your guide to TRON and how to invest in it.



What is TRON?



There have been two variations of TRON which is somewhat unusual considering that it has only been on the market for three years. This isn’t unheard of and there are a handful of other cryptos that have had rocky starts and rebranded to better effect. Unlike those, TRON hasn’t rebranded as such, instead, it changed its blockchain and how it works.

In 2017, TRON was launched as an ERC20 token on the Ethereum network. Like the majority of ERC20 tokens, it was subject to an ICO which did very well in TRON’s case. This was until the Chinese government passed a law banning ICOs and essentially stopping funding to TRON in its tracks.

As you might have guessed, TRON was based in China. Being Chinese, it also had a few problems associated with Chinese products, namely, it was copied. Those in the crypto community were quick to point out that TRON’s whitepaper had been plagiarised from other white papers and that the TRON blockchain itself was very basic and did not fit its purpose.



TRON Changed



This is pretty damaging criticism for any cryptocurrency and most scam currencies would simply pull the money and run. However, this is where TRON, to its eternal credit, stepped up. They moved their blockchain off the Ethereum network at considerable cost and created a bespoke network of their own.

They also created a new original white paper and outlined new features and benefits of TRON. This way, TRON had gone from being a complete laughingstock to being taken seriously.



How Has TRON Performed Since Then?



Commercially, TRON has done extremely well. In a short time, it has surged in market capitalization and became highly popular crypto among investors. The value of TRX has rocketed too and over the course of this last year (2020) alone the price has doubled.

Today, TRON is a highly competitive cryptocurrency that is seeking to be a viable alternative to Ethereum. It goes without saying that it is currently some way off the mighty Ethereum, and it might never reach that level of success, but it has good ambitions. Moreover, although it has performed beyond the expectations of most, it still isn’t without negative criticism from the crypto community.

The future looks very interesting for TRON and many TRON fans will be looking for further success to prove the naysayers wrong.



How to Invest in TRON?



Buying TRON (TRX) is quite straightforward if you know where to go. There are a few platforms that now offer BTC to TRX exchange and if you have Bitcoin, you shouldn’t have too much difficulty getting hold of TRX.

Of course, some exchanges and platforms are faster, safer, and priced fairer than others. Do your homework and make sure the platform you’re using is safe to convert 1 BTC to TRX. You can check platforms by looking on cryptocurrency forums and if needed, asking other investors.

Business Today

3 in 4 fundraisers have experienced sexual harassment on the job – often because of inappropriate behavior from donors

Sexual harassment is a common workplace hazard for nonprofit fundraisers.fizkes/iStock/Getty Images PlusWhile the #MeToo movement that raised public awareness of sexual harassment is making fewer headlines than it did in 2017 and ...

Cathay Pacific 2021 Sustainability Report

New commitments in carbon neutrality and diversity, and supporting the Hong Kong community during the pandemicThe Cathay Pacific Group has released its annual Sustainable Development Report that addresses its commitment and prog...

Cozycozy, is tackling consumer manipulation in the travel industry

With its user-centric algorithm, Cozycozy fights against the Online Travel Agencies' rampant manipulation of consumers’ choices. In 2019, 112.3 million domestic trips and 11.3 Million international trips were taken by Austral...

Foreign companies exiting Russia echo the pressure campaign against South Africa's racist apartheid system

McDonald's is leaving Russia after three decades of operating there.Sefa Karacan/Anadolu Agency via Getty ImagesMcDonald’s provided many Russians with their first taste of capitalism three decades ago. Now, the global fast-f...

Jennifer Westacott's interview with Ross Greenwood

Ross Greenwood, host, Business Now: Joining us is the chief executive of the Business Council of Australia, Jennifer Westacott. Jennifer, many thanks for your time as always. Quite clearly the government is setting out its age...

Business success as Aussie kids skateboard brand, Ookkie, launches in UK and Europe

Australia’s leading kids skateboard company, Ookkie, has set the wheels in motion for global business success, expanding into two new overseas markets thanks to growing demand for its products from ‘skateboard loving paren...

Business Daily Media Business Development

Rishi Sunak's £15 billion cost-of-living package and windfall tax: four experts respond

Rishi Sunak, the UK chancellor of the exchequer, has unveiled a £15 billion package of measures to help households with the cost of living, after energy watchdog Ofgem announced it wou...

Jonquil Lowe, Senior Lecturer in Economics and Personal Finance, The Open University - avatar Jonquil Lowe, Senior Lecturer in Economics and Personal Finance, The Open University

the economic tactics that drive Liverpool and Real Madrid

Liverpool against Real Madrid in the Champions League final is a fixture for football fans to savour – two giants battling it out for one of the most prized trophies in the game. And r...

Simon Chadwick, Global Professor of Sport | Director of Eurasian Sport, EM Lyon - avatar Simon Chadwick, Global Professor of Sport | Director of Eurasian Sport, EM Lyon

Cathay Pacific 2021 Sustainability Report

New commitments in carbon neutrality and diversity, and supporting the Hong Kong community during the pandemicThe Cathay Pacific Group has released its annual Sustainable Development Repor...

Business Daily Media - avatar Business Daily Media

Cozycozy, is tackling consumer manipulation in the travel industry

With its user-centric algorithm, Cozycozy fights against the Online Travel Agencies' rampant manipulation of consumers’ choices. In 2019, 112.3 million domestic trips and 11.3 Million i...

Business Daily Media - avatar Business Daily Media

How to talk to your employer about trauma

Chanintorn.v / ShutterstockThe impact of trauma and post-traumatic stress disorder (PTSD) is a hidden chronic mental health issue in the workplace. A 2016 survey of UK adults found that one ...

Stefanos Nachmias, Principal Lecturer and Deputy Head of HRM Department, Nottingham Trent University - avatar Stefanos Nachmias, Principal Lecturer and Deputy Head of HRM Department, Nottingham Trent University

Jennifer Westacott's interview with Ross Greenwood

Ross Greenwood, host, Business Now: Joining us is the chief executive of the Business Council of Australia, Jennifer Westacott. Jennifer, many thanks for your time as always. Quite clear...

Ross Greenwood - avatar Ross Greenwood



NewsServices.com

Content & Technology Connecting Global Audiences

More Information - Less Opinion