Is TRON (TRX) a Good Investment?

TRON is an excellent additional coin to your crypto investment portfolio. It is a reliable coin with investment appeal, especially if you’re looking for an inexpensive trading option. TRON has been performing exceptionally compared to other blockchain ecosystems that have been founded recently. The last annual year has seen the TRX increase by 299.2%, which outlines the potential for cryptocurrency. 

 

While TRX may seem like a cheap cryptocurrency, it relatively has a huge market cap. With this in mind, many experts believe that TRON has the potential to grow in the near future – making it a worthy investment option to consider when diversifying your investment portfolio. This is particularly true when you see how dApps are becoming popular.

TRON (TRX) Cryptocurrency Overview for 2024

 In 2024, TRON (TRX) has implemented upgrades to enhance compatibility with Ethereum, reduce smart contract costs, and improve its P2P network. These changes aim to attract more developers and increase interoperability with Ethereum. TRON is notable for low transaction fees and offers free daily bandwidth points, which can be increased by freezing TRX. The network’s transaction fees are minimal compared to other cryptocurrencies.
Financially, TRON has recovered from its 2022 lows, with predictions suggesting a potential rise in its price. Projections for 2024 vary, but some analyses indicate a positive trend with a potential maximum price of $0.0955. Additionally, TRON is expected to see a significant surge post the 2024 Bitcoin halving, potentially reaching around $0.50, marking a new all-time high. The network’s growing popularity for processing large international payments due to its speed and cost efficiency contributes to its positive outlook.

TRXUSD Chart by TradingView

What Is TRON?

TRON is a blockchain decentralized platform with a cryptocurrency referred to as Tronix (TRX). The platform was created in 2017 by Justin Sun and was designed to host entertainment applications and enhance the cost-effective sharing of digital content. It grew pretty fast, reaching over 50 million platforms by August 2021. Just like its slogan suggests, TRON was mainly created to manage web-based entertainment entities like Amazon and Netflix.

 

It tries to eliminate intermediaries in the process of media consumption. TRON does this by employing blockchain and air-tight network technology to eliminate intermediaries and enhance direct sales of content creators’ projects to customers. The platform uses a solidity programming language to design apps hosted on its platform.

 

Moreover, its crypto TRX interconnects the TRON ecosystem with various application options that facilitate application and transactions on the platform, making consumers directly pay content creators for accessing their work using TRX. Content creators are not charged any fee, plus the transactions on there are also free of charge. 

It has a high throughput beating Bitcoin and Ethereum in the game by having a throughput of 2000 transactions per second. This high scalability and smart, effective contract gives a myriad of options for how the application can be created, which supports large-scale users.

The History of TRON

TRON was officially launched by Justin Sun in 2017. It aligned with Justin Sun’s non-profit organization, known as the TRON Foundation. The organization’s main aim was to create an infrastructure for a decentralized internet plus offer a democratic system that manages this new network.

 

Sun, a protégé of Alibaba, Jack Ma, had already made a name in the blockchain market before the creation of TRON. He was Ripple’s main representative in the great China area. The position allowed him to meet up and network with people, which helped create the concept of TRON. Moreover, Justin Sun is known for developing a live streaming app called Peiwo, with only 10 million users in China.

 

A fun fact about Sun is that he was able to integrate TRON into Peiwo months after developing it. How impressive! The integration made the position of TRON skyrocket in the region. It also expanded the number of active TRON users. TRON’s launch was a big deal and raised an ICO of $70 million, which was channeled back into developing TRON further. During this time, Investors were given TRX tokens in exchange for BTC and ETH. 

By 2018, TRON was among the top 10 cryptocurrencies in terms of capitalization. Its success made its developers venture out to create their blockchain, which made TRON move from ERC-20 to the Ethereum network and finally to TRX tokens that use TRON’s native protocols.

How Does TRON Work?

TRON has three layers that back up the TRON ecosystem’s infrastructure. Each layer plays a critical role in ensuring the platform network functions at its full capacity. The three layers include:

 

• Storage layers; this is where TRON data are stored securely. There are also state data stored here related to blockchains, which stay behind the TRON ecosystem.

 

• Application layers; this is where developers come in. The application layer allows the development of apps powered by TRX tokens and TRON.

• Core layers; right at the center of the core, there’s a layer that processes different kinds of instructions. It can only process instructions written in only two programming languages, namely Solidity and Java. When instructions are processed on the core layer, a code is sent to a virtual TRON machine. On reaching the virtual machine, the application is executed.

TRON (TRX) Price Prediction

According to technical analysis, TRON’s price prediction is that the minimum cost of TRX will stand at $0.081, while the maximum cost of TRX will reach $0.097. The average trading price will be $0.083. Additionally, price prediction for TRX for March, while relating to the fluctuations in prices at the beginning of the year 2022, experts indicate the prices for minimum and maximum costs to be at $0.058 and $0.066, respectively.

As for April, experts forecast the prices of minimum and maximum costs of TRX to be at $0.063 and $0.069, respectively, which on average was somewhere at $0.066. Going into May, keeping in mind TRON fluctuations, it is seen that the minimum and maximum trading costs may be at $0.065 and $0.072, respectively. On average, it will be around $0.068.

In mid-year, TRX is predicted to be trading on an average price of $0.069, with some increase and decrease in the value of TRON, but it wouldn’t reduce to the average price range for June and July. Moreover, at the end of summer, crypto experts predict the price will be around $0.073. TRX prices will be somewhere around $0.076 on average at the end of September.

Going into the middle of autumn, the trading costs of TRX will be $0.076 on average and at 0.079 at the end of October. In November, the trading costs will be, on average, $0.080. By December, the maximum and minimum trading costs for 2022 will be $0.097 and $0.081, respectively.

Is TRON Worth Buying?

TRON (TRX) is among the fastest-growing coins right now. Since it was launched in 2017, it has been a promising player in the crypto market. There are several reasons why TRON is a safe investment in 2022. Undoubtedly, it will be more mainstream than established cryptocurrencies on the market. Here’s why;

The entertainment market has high prospects, as it covers a myriad of areas, including social networks, hosting and video streaming, casino, and gaming. TRON has all these things, making it stand to gain a lot of returns. Additionally, the idea of having decentralized content sounds appealing.

Consumers would want to use TRON as they can access content for little cash. On the other hand, content creators can sell their work and get their full payment, which will widen their user base, thereby making TRON more valuable. Initially, TRON was created by developers who are experienced in blockchain technology. They’re tirelessly working to make TRON more lucrative and efficient to users.

When you compare it with other cryptocurrencies, TRON can process up to 2000 transactions per second, which is suitable for people looking for speed and efficiency. These are enough reasons to buy TRON in 2022.

TRON Forecast

Various experts have made value predictions for TRON in 2022. Most analysts like Wallets investor thought (TRX) would have dropped at the beginning of 2021. This was not the case, as the coin was seen on an uptrend scale and quickly became one of the most valuable coins in 2021.

Another analyst, Digital Coin Price, also gave a low prediction on the value of TRON in 2021, which was not the case. Moreover, TRON’s value has surpassed expectations since 2020 regarding price prediction from analysts – even though some analysts keep revising their prediction to maintain a parabolic growth, it’s like they’re still underwhelming TRON.

The site paints TRON in a bad light in 2022, indicating that the price prediction by the end of 2022 will end at $0.056. On the other hand, Wallet investors predict a bullish trend indicating that the value of TRON will stand at $0.138. It will range from $0.06-$0.11 for the better part of the year 2022.

This is seen as a good sign considering the Wallet investor’s record. They, too, had been previously bearish but have since changed their minds seeing that TRON is an uptrend. Overall, the price prediction will increase in 2022 as there are strategies in place to ensure the price does not shrink. The coin is expanding and will soon be a promising cryptocurrency.

Where to Buy TRON (TRX)

There are various places where you can buy TRON. Here’s a list of some of them:

eToro

eToro has proven to be a trustworthy trading platform to trade and invest in.

Pros

• Multiple deposit payment options.
• Low commissions.
• Seamless account opening process.
• Free stock and ETF trading.

Cons

• Could have a better customer support service.

How to Buy TRON (TRX) on eToro

Here’s a step by step guide on how to buy TRON with eToro:

Open an Account

Go to the eToro website, and fill in the required fields. Review the data you’ve input and also the terms and conditions. There’s also an option of opening an account via Facebook or Gmail.

Proof of Identity

eToro follows strict rules for verifying the identity of all account holders. It does so to ensure the platform is a safe place to trade. You can prove your identity by uploading your ID. Moreover, account holders can verify their identity by proof of address. A bank statement would suffice.

Making a Deposit

Funding your account is essential. You can use various payment options, but going with eToro money is essential. Once you fund the account, you’re ready to trade.

Search for TRON Coin and Buy It

You can easily go to the live trading marketplace and see where TRON coin prices stand. Wait for that opportune time, then buy the coin.

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Binance

Another great option is the Binance trading platform, which supports TRX tokens.

Pros

• Multiple deposits and withdrawal options are available.
• Has a convenient cryptocurrency wallet.
• Offers low fees with 0.1% spot trading fees.

Cons

• Withdrawal fees to fiat currencies.

How to Buy TRON (TRX) on Binance

Account Opening

A user has to open an account with Binance. They can either open through email, Binance apps, or your mobile number. Once you open it, you must verify your account.

Make a Deposit

Users may choose how to fund their accounts. They can do so with credit or debit cards, bank deposits, third-party payments, and P2P trading.

Buy TRON

Visit the marketplace; you’ll have one minute to confirm your order. After this, the platform will recalculate based on the recent market price.

Store TRON

You can store or use TRON on the Binance platform.

Coinbase

You can buy TRON on Coinbase, but not in the traditional sense. You’ll need to follow tricks that allow you to use a credit or debit card on Coinbase.

Pros

• Multiple purchasing options.
• Advanced trading platforms.
• Easy to send money.

Cons

• None

How to Buy TRON (TRX) on Coinbase

• Visit Coinmarketcap to see how you can buy TRON with the different currencies available. Coinmarketcap provides multiple purchasing options. Search for TRON, then go to the market to see where you can buy TRON and the currency option available.

• Select a platform for payment; various platforms have various liquidity, reliability, and security. Do your research.

• Buy TRON on your preferred platform; these platforms operate in various ways. Using fiat currencies like USD is more straightforward than using another crypto. If you’re using another crypto, you’ll need to create a wallet that supports TRON. Users will then buy the first currency, then buy TRON.

Kraken

This is a secure trading platform for buying TRON. Here’s a step-by-step guide on how to buy TRON:

Pros

• 24-hour access to charting tools.
• 24/7 global customer support.
• Advanced order type.
• Leveraged trading.

Cons

• None.

How to Buy TRON (TRX) on Kraken

Signing Up for Account

Fill in the email address on the required fields, with a username and a strong password.

Verify the Account

You can also buy TRX with other cryptocurrencies like LiteCoins and Lumen by providing additional information. This information may include the date of birth, country of residence, and phone number. 

Deposit Cash or Crypto

You must create a deposit wallet and transfer funds from your wallet to the address to deposit crypto. If you’re depositing cash, you have multiple options depending on your area of residence and preference. 

Buy TRX

After funding your account, go to the open order page to fill in the order form, then click buy.

Buy TRON (TRX) With PayPal

Visit eToro

Visit the site of your preference and make sure you can use PayPal as your payment method.

Buy TRON Using Your PayPal Balance

Make the purchase with your PayPal balance. Afterward, store your TRON in the appropriate areas. A ledger is likely the way to go. You can also leave it in the eToro trading platform.

The method is only available for residents of countries where eToro and PayPal are supported.

Buy TRON With Credit Card

First, you’ll put the deposit amount you’d like to use, then choose a preferred trading platform that supports credit card payment options.

Enter Your TRON (TRX) E-wallet Address

Lastly, using your debit card, purchase TRON (TRX) on the selected trading platform. 

Buy TRON With Debit Card

Enter the amount you wish to deposit and select the trading platform where the deposit fees are friendly and offer TRON at the best prices.

Input Your E-wallet Address for TRON (TRX)

Finally, use your credit card to purchase TRON (TRX) on the preferred trading platform you selected earlier.

Buy TRON with Bank Transfer

• Sign up for a cryptocurrency where you can buy ETH/BTC.

• Buy BTC/ETH that you need.

• Send the BTC/ETH bought to a trading platform that sells TRON.

• Buy or exchange BTC/ETH with TRON.

• Send TRON to your e-wallet.

FAQs of TRON (TRX)

Will TRON Reach One Dollar?

According to price predictions and how TRON is currently performing on the market, there’s a high possibility of it reaching and surpassing the one-dollar mark. However, the crypto world is volatile and full of surprises, so one can never give a definite answer to this question.

What Is the TRX Reward Program?

TRON has many alliances, plus TRX tokens that have expanded the user base. It has many promotional measures referring to customers as kings. With that, it has to stake programs that give users cash windfalls and prizes through competitions.

Is TRON a Scam?

Rumors were flooding the market about the illegibility of TRON as it appeared to have duplicated other platform protocols’ white papers. This, however, was just mere innuendos and fake news spread by people who wanted to hurt TRON. It has proven to be a solid and legitimate place for trade.

Can You Transfer TRON to Exchange in Time?

TRON supports the migration of TRX. There are no worries here; you’ll not suffer any losses. Just wait for periodic migrations.

Conclusion

TRON has proven to be a worthy performance on the crypto market. It is undoubtedly one to keep an eye on in 2022 as it is fast-growing and suitable for investors looking to diversify their investment portfolios. TRON is here to stay, and we might as well get used to it.