Where to Buy Tron: Best Exchanges to Buy TRX

Last updated: Oct 06, 2023
10 Min Read
AI Generated Summary
Low transaction costs, making it cheap to use
Fast transaction speed for instantaneous settlement
Highly scalable and adapts easily to changes to the latest crypto developments
Top 50 wallet holders have 74.37% of the TRX token
Still more development needed for the blockchain to blossom further

Cryptocurrency exchanges come aplenty, with CoinGecko listing close to 800 exchanges it tracks. Whether you're a seasoned investor looking to trade or hodl, or just a curious newcomer, finding a reliable platform to buy and trade digital assets is crucial. If you're on the lookout for such a platform, head over to our article on the best crypto exchanges.

TRX, the native token of the Tron blockchain, is among the various cryptocurrencies that have piqued users' interest. In this guide, we will delve into the world of TRX and give you the lowdown on where to buy Tron.


What is Tron?

Tron is a layer-one blockchain network that developers can use to create a variety of DApps on its blockchain. It is one of the fastest Layer 1 networks with TPS of up to 2,000. Like the majority of the other Ethereum competitors it is grouped with, Tron uses an account-based mechanism and has low transaction costs. 

Its Delegated Proof of Stake (DPos) consensus technique differs slightly from that of the other Layer-1 platforms that use Proof-of-Stake (PoS).  It is also one of the most popular blockchains for trading USDT. 

Tron's goal is to become the decentralized platform of choice for all entertainment-related services. The platform encourages direct communication between content producers and users without worrying about censorship issues.

Tron's total value locked stands at $6.79 billion, second only to Ethereum.

Tron vs ETH TVL.jpg
Tron's TVL is Second Only to Ethereum. Image via DefiLlama

Interested to know more? Our full review of the Tron network covers everything you need to know.

What is the Tron (TRX) Coin?

TRX is Tron's native cryptocurrency, used for the payment of transaction fees and also as a governance token.

Unlike other Proof-of-Stake blockchain projects where the validators are the ones to validate transactions and earn rewards, Tron has Super Representatives, selected by other TRX holders to approve transactions and maintain the network. TRX holders stake their tokens in order to be eligible to vote for Super Representatives. 

The staked tokens generate three things for holders: energy, bandwidth and yield. The first two are concepts within the Tron network that are used to operate the blockchain and keep things fast and cheap. Bandwidth is used to offset the transaction fees on Tron and Energy is needed to interact with the smart contracts on the Tron network.

According to Stakingrewards.com, the current yield for staked TRX is 3.45%. That's not too bad considering that ETH gives you 3.76% these days. 

Where to buy Tron
ETH's Yield Edges Out the Yield for Staked TRX. Image via Staking Rewards

What are the Best Exchanges to Buy Tron?

TRX coins can easily be obtained through most cryptocurrency exchanges such as Coinbase, Kraken, OKX, and Bitget to name a few. Some of them allow for purchases of TRX using fiat currency which needs to be deposited on the exchange first. Decentralised exchanges like Uniswap let you swap stablecoins (USDT, USDC etc.) for TRX on their platform. 

A quick note here: Decentralized exchanges require no KYC but you will need to have some level of understanding about crypto to interact with them. If you are completely new to the crypto scene, a centralized exchange could be a good choice but you will need to give up just a bit of your privacy in order to use them. 

Also for newbies, we have a cryptocurrency beginner's guide that explains the digital asset class in plain English.

How to buy TRX in 5 Steps

Getting your cash converted into crypto is not as hard as you may think. Nowadays, there are quite a few ways to do this safely and relatively easily.

Centralized exchanges are one of the most popular places to buy crypto, including TRX. Note that these exchanges usually require their customers to undergo a KYC process. For those who are more privacy-minded, you might want to skip this section and move on to the next one. 

Step 1: Choosing a platform

We've given you some ideas on the best exchanges to buy TRX. As long as it is an exchange that's been around for at least five years, has proof of reserves, has gone through audit checks, and may even be regulated in certain jurisdictions, these are usually the more reputable exchanges you can consider. Some of them may not operate in the region you are in, so please check this carefully before signing up for an account with them. 

Step 2: Do KYC

The next step is usually to undergo the KYC process, often required by regulators. They'll likely ask for some form of ID and proof of address as a basic requirement. This step can take a few minutes or several days, depending on the exchange. 

Step 3: Deposit Funds

After having successfully opened an account, it's time to move some money into it. Be sure to follow the instructions carefully when filling out the bank details for making a deposit. Check that all the required fields are entered correctly, including any reference numbers needed to accompany the bank transfer. Incorrect details may lead to delays in crediting the funds to your account, or worse still, having the funds returned to your bank. Some exchanges might also have deposit minimums, so check before making the transfer.

Step 4: Place an Order 

Hooray, your funds are credited and you're ready to convert your cash into TRX. Exchanges consider this a “trade” since you are trading cash for crypto. There are two common ways to place an order:

  • Market orders: A market order means you are ready to trade at whatever price the crypto happens to be at the time. These orders are usually processed instantly. 
  • Limit orders: These let you set the price you want to buy TRX at. For example, the current price of TRX is around $0.088. If you think this price is too high and are more comfortable buying it at $0.06, that's the price you enter in the order. Anytime the market price matches the price you want, that's when the order is fulfilled. 

Step 5: You have TRX! 

Once the TRX is credited to your account, the next thing to consider is where to store it. Exchanges allow you to store your balance because it's easy for you to make trades. However, these funds are in the custody of the exchange, which means if it goes bust a la FTX or if there's a major hack, you may end up losing your money. For more on protecting your digital tokens, check out our crypto safety guide.

If you don't intend to trade TRX, it's much better to store it in a non-custodial wallet. More on this later in the article.

How to Buy TRX with a Debit or Credit Card

Aside from exchanges, you can also buy TRX with plastic. Granted, most of the exchanges will also offer this service but the fees are considerably higher than if you were to make a trade. Also, if you don't want to undergo the KYC process, exchanges may not be the right place for you. Here are some alternate considerations:

  • Crypto shops: These are very niche, and I came across them in my early crypto days. One example of a crypto shop is EasyCrypto, where you can buy crypto, and they ask you for a wallet address to send the crypto to. The platform is connected with the local payment provider Windcave, which gives you access to either pay by bank transfer or via credit card. You do need to set up an account with them to get started. They don't store your crypto, which means you need to have a wallet address ready to send the funds to.
  • Buy directly from the wallet: Some wallets like Trust Wallet, Exodus, and Ledger allow you to buy crypto directly from their own interface. This saves you the hassle of having to transfer them to another place after you've bought them. 

Below are the basic steps to buying TRX with your debit/credit card:

Step 1: Log into the platform of your choice. 

Funds Are Directly Deposited into the Ledger Wallet. Image via Ledger Live

Step 2: Select the crypto you want to buy, which is TRX in this case. 

Step 3: Enter the amount.

This is What $100 Worth of TRX Looks Like. Image via Ledger Live

Step 4: Choose how you want to pay for it, i.e. Visa, Mastercard, GooglePay etc. 

Select the Region Your Card is Issued in. Image via Ledger Live

Step 5: Decide on which payment provider you want to process your transaction. Fees are usually the main consideration here. The lower the fees, the more TRX you get for your money. 

Select the Provider That Gives You the Most Bang for Your Buck. image via Ledger Live

Step 6: Go through the payment process like you would with normal online shopping. 

Step 7: Check that the funds are in your wallet. 

Best TRON Wallets to Store TRX

In the above example, I used Ledger to illustrate the purchase process. This is a cold wallet, one of the best ways to safely store your crypto. When it comes to interacting with DApps though, hot wallets (internet-enabled and online) are a better choice. We've covered our top Tron DApps as well. 

You can think of a cold wallet as a bank vault and a hot wallet as your checking account if that helps you visualize the differences.

A popular wallet for TRX is TronLink, which fully supports the Tron network. It boasts over 10 million users and is available is more than 200 countries. TronLink is available for the Chrome web browser, as well as iOS and Android mobile devices.

For more suggestions on which Tron wallet to choose, read up on our picks for the 8 best Tron wallets. Also, check out our top hardware, desktop and mobile wallet picks. 


Where to Buy Tron: Conclusion

As you can tell, buying TRX is not a complicated affair. While it's true that you need to do some research regarding which wallet you want to use, the actual steps involved in purchasing TRX are super easy if you're using a card. 

The downside to using debit or credit cards is the expensive fees since this is a service provided by the payment providers. The business models for these companies are fee-based, hence you might be paying an arm and a leg to use them. The other thing is that you can't pick and choose the price you want to buy unless you wait for the market rate to be aligned with your price of choice.

On the other hand, while trading cash for crypto on an exchange is a lot cheaper fee-wise, a certain amount of patience is required as you wait for the funds to be transferred from your bank account to theirs. If all goes well, this is a fairly quick transfer that requires less than a day. In some instances, however, it could take up to a week or more, something I know far too well from personal experience. With limit orders, you have the option of buying at a price that you find favourable, especially if you're in no hurry to obtain it, or the price you want is not too far from the current market rate.

However you choose to make your purchase, we hope that this article gives you an idea of where to buy TRX in a manner that best suits your preferences. 

Frequently Asked Questions

Can I Buy TRON on Coinbase?

Yes, you can buy TRON via Coinbase.

What Exchanges Support Tron?

Aside from Coinbase, most major exchanges like Binance, Kraken, OKX support Tron.

Can I Buy TRX on Crypto.com?

No, TRX is not supported on Crypto.com.

Is TRX a Good Coin to Buy?

The token has utility as both a governance token and a payment method. The project is fairly solid and the team has a roadmap.

Julie-Anne Chong

Crypto enthusiast since 2020. Keen on helping others navigate the complicated, and sometimes, confusing world of crypto through easy-to-understand articles, designed for non-techies like me.

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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