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How to Buy Tronix Cryptocurrency (Tron, TRX) | Complete Guide

How to Buy Tronix (Tron, TRX)

Tronix (TRX), the cryptocurrency coin of the Tron network, has experienced huge growth since early December 2017. At the time of writing this guide, TRX is up over 11,000% in this period. In this guide, we’ll show you exactly how to buy Tron’s cryptocurrency Tronix.

TRX Exchanges

Before getting into our step-by-step guide, let’s first quickly go over the exchanges that list the Tron coin on their platforms.

Currently, the vast majority of TRX trade volume comes from Binance. We’re pretty big fans of this cryptocurrency exchange and you can learn more about it in our Binance Review.

Binance is a cryptocurrency only exchange, meaning you’ll need to use Ethereum or Bitcoin to buy TRX on their platform. There are currently no exchanges that allow you to purchase Tronix with fiat currencies (USD, EUR, KRW, Etc.), unless you live in Korea.

Aside from Binance, there’s a number of smaller exchanges that list Tronix on their platforms and have a decent amount of trade volume:

  • Binance is our recommended option.
  • Coinnest is a Korean exchange, where you can buy TRX with the Won (Only accepts Koreans).
  • HitBTC is a global cryptocurrency only exchange, but we do NOT recommend using it (See our HitBTC Review).
  • Bit-Z is a relatively small exchange, which we’ve yet to review. Use at your own risk.

How to Buy Tronix (TRX) on Binance

The process for buying Tronix on Binance is fairly straight forward. Below, we’ll show you step-by-step how to go from creating a Binance account to withdrawing your purchased TRX.

Keep in mind, you’ll need to use Bitcoin or Ethereum to make your purchase. If you don’t already own cryptocurrency, check out our guide on buying Bitcoin and Ethereum.

1) Create Your Binance Account

The first step is to sign up for a Binance account. Registration is simple, only requiring an email address and to create a password.

Binance Sign up Register

Once you've submitted the registration form, you'll need to verify your email address. This is simply done by clicking the link Binance has emailed you.

Binance Email Sent Sign Up Confirmation

2) Secure Your Binance Account

Upon logging into your account for the first time, you'll likely be prompted to enable 2-Factor Authentication (2FA). While this is not required, it's highly recommended.

Binance 2FA Prompt

2FA helps to secure your account by requiring an additional passcode when login attempts are made.??Binance offers 2FA through the Google Authenticator App and SMS text messaging. We recommend using Google Authenticator, as SMS 2FA has known security vulnerabilities.

Once you select Google Authenticator, Binance will show you step-by-step how to set it up.

Binance Google Authenticator Set Up

You can also set up 2FA at any time from your "Account" page.

Binance Account Page

From your "Account" page, you'll also be able to submit verification documents, should you need higher withdrawal limits than the default 2 BTC equivalent per 24 hours.

3) Deposit Bitcoin or Ethereum to Binance

Locate the "Deposits" page, under "Funds" in the main menu. Here you can search for the cryptocurrency you want to deposit. We recommend Ethereum over Bitcoin, as it's faster and has lower network fees (fees from their respective networks, not Binance).

In this example, we'll be depositing 1 ETH.

Binance Deposit Ethereum Step 1

Once you've selected the cryptocurrency you want to deposit (in our case Ethereum), Binance will give you an address where you can send your deposit.

Binance Deposit Ethereum Step 2

After you've sent funds to the given address from your cryptocurrency wallet, your deposit will soon show up as pending while it completes the required number of block confirmations. For our ETH deposit, it took about 5 minutes for our deposit to be completed. Other cryptocurrencies like Bitcoin, that have longer block confirmation times, will take longer to deposit.

Binance Pending ETH Deposit New

 

4) Buy Tronix (TRX) on Binance

Once your deposit has been credited, it’s time to buy Tron.

Locate the Binance exchange (1). On the right-hand side of the exchange, find your TRX trading pair (2). To buy TRX with Bitcoin, located “TRX/BTC”. To buy TRX with Ethereum, locate “TRX/ETH”. Click on your trading pair to be brought to that page of the exchange.

Once on the page for your trading pair, use the “buy TRX” order form to make your purchase (3). Binance offers a variety of order types, with a “Market” order being the easiest. All that’s required to place a market order is to enter the amount of Tronix you want to buy. The exchange will automatically fill your order at the best available price.

Binance Buy TRX Tron Tronix Coin

Binance’s 0.1% fee will be taken out of the cryptocurrency you purchase. In this example where we placed a buy order for 100 TRX, we received 99.9 TRX.

Binance Tron TRX Tronix Balance and Withdrawal

You can withdrawal your purchased TRX from your accounts “Deposits & Withdrawals” page.

Buy TRX on Binance

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