How to Buy Tron (TRX)

Tron bills itself as a smart contract platform that allows users to build and deploy decentralized applications. It also boasts a number of additional services such as a non-fungible token (NFT) marketplace, a sidechain protocol and the BitTorrent protocol for content sharing.

Tron also focuses part of its business model on decentralizing the entertainment industry by allowing content creators to make, share and record digital content using the Tron blockchain.

Tronix (TRX) is the name of the native token of the Tron ecosystem. This digital currency serves as the primary utility token for the network and is available to buy on many popular cryptocurrency exchanges.

Want to dive deeper? Read Kraken’s What is Tron? (TRX) to learn more.

Tron was founded in 2017 by Justin Sun — a graduate of the Hupan University set up by Alibaba founder Jack Ma. The Tron Foundation managed the project's development until it was dissolved in 2021 and replaced by the Tron DAO.

The Tron DAO is a decentralized autonomous organization that offloads the key responsibilities of managing the protocol to its vibrant community. Following the change, TRX cryptocurrency gained additional utility as a governance token, allowing holders to vote on proposals that govern the direction of the protocol.

TRX, like many crypto assets, can be used to make low fee, fast transactions thanks to its public blockchain technology, use of smart contracts and delegated proof-of-stake consensus mechanism.

Tron is also popular among content creators, especially those in the gaming industry, for sharing and recording files without the fear of censorship that can occur on centralized platforms.

The project has also become one the largest stablecoin networks among all popular blockchains after the launch of its USDD stablecoin. This token is reportedly backed by crypto assets held in the Tron DAO Reserve. Justin Sun stated the digital assets held within the Tron DAO Reserve back the number of USDD stablecoins in circulation by more than 280%.

The wide range of services that exist within the Tron ecosystem make it unique compared to other blockchain projects. The support of decentralized applications, specifically those focused on digital content creation, is also another feather in the project's cap. Additionally, its high profile acquisition of the BitTorrent protocol in 2019 introduced crypto to millions of new users to crypto through its BitTorrent (BTT) token.

Tronix (TRX) token has no confirmed maximum supply limit and a current circulating supply of approximately 100 billion coins. At current prices, TRX ranks among the top cryptocurrencies by market cap available today.

With more than a decade of experience, Kraken has established itself as a pillar of the cryptocurrency industry. While we have grown to now offer over 200 cryptocurrencies, we remain one of the best places to buy TRX.

You can buy Tron on Kraken with as little as $10 since each TRX is divisible into smaller units. While you do not need to execute larger orders, Kraken’s advanced price discovery and execution technology helps offer some of the best rates of any cryptocurrency exchange.

Your verification level determines what you can do with your Kraken account. This can be located by signing into your account, selecting your name in the upper right and then selecting Get Verified. You will then see highlighted your current (pending or verified) level.

Dollar cost averaging is a popular strategy that allows you to invest in an asset at regular time intervals using fiat currencies (cash) and other payment methods like a bank transfer, regardless of its price. This sort of recurring buy strategy is designed to help build wealth over time while minimizing the impact of unpredictable price changes.

Kraken works hard to protect your TRX
When you buy Tron with Kraken, your crypto is automatically stored in our hot wallet — an accessible but highly secure place to keep your TRX safe.

Kraken allows you to hold your own Tron
Our rigorous security standards ensure that our users’ crypto is always safe on our platform. However, if you want to hold or transfer your Tron, Kraken allows you to take full custody of your TRX in the wallet of your choice, unlike many other fintech services. Tron can easily be stored on hardware wallets, web, or mobile wallets.

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Disclaimer
Information provided in this “Learn” section is for general educational purposes only and is not intended to constitute investment or other advice on financial products. Such information is not, and should not be read as, an offer or recommendation to buy or sell or a solicitation of an offer or recommendation to buy or sell any particular digital asset or to use any particular investment strategy. Kraken makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any such information and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use.