How to Buy Tron (TRX) with a Credit Card

By September 20, 2020DApps
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We feature the top brokers and exchanges that offer the option to buy Tron Tokens (TRX) with a credit card or debit card. For larger sums you can also send a wire transfer. We list exchanges and services based on personal experience, and reputation. Please view the risks associated with Tron Tokens and cryptocurrency trading at the bottom of this page. Also access our affiliate disclaimer.

What is Tron (TRX)?

Tron is an open-source blockchain, built to facilitate democratic content sharing and value/data transfers. This overall goal is often likened to ‘decentralizing the internet’.

What does it do?

Through use of its network token, Tronix (TRX), the Tron blockchain allows for content creators and consumers to directly interact – eliminating unnecessary third-parties, or ‘middlemen’.

In addition to facilitating value/data transfers, the Tron blockchain supports the use of smart-contracts – enabling decentralized applications (DApps) to be run. Developers creating DApps on the Tron network are able to create their own Tron-based tokens, similar to Ethereum and its use of the ERC-20 standard. These tokens, however, are known as being either TRC10 or TRC20, when utilizing the Tron network.

How does Tron (TRX) work?

The Tron network functions through use of its own variant of ‘delegated-proof-of-stake (DPoS)’ known as ‘Tron-proof-of-stake (TPoS). This form of consensus involves typical staking procedures found in the similar proof-of-stake protocols. The difference is that in a TPoS, voting capabilities are delegated to elected representatives. Furthermore, Tron notes that TPoS allows for incentivized voting.

Projected Developments?

Development at Tron is largely overseen by the ‘Tron Foundation’ – a non-profit organization tasked with developing and seeking out use-cases for the project.

To date, Tron has completed several large acquisitions – each keeping in line with the goal of developing a decentralized internet. The following are each examples of these strategic acquisitions.

  • BitTorrent
  • Steemit

Moving forward, it is expected that the developers at Tron will continue to work on increasing the scalability of its network, and ancillary projects such as the recently launched, Sun Network.

Underlying Ideology?

Tron was founded on a strong set of ideologies. These were built around the idea that content creators and consumers should be able to access a decentralized internet, free from the manipulation of powerful companies.

A decentralized internet is widely viewed to be a more democratic, honest, and privacy centric variant of the internet we know today.

Acceptance and Controversies?

With regards to acceptance, Tron is ahead of most projects. Not only has it become a mainstay in the top 20 projects by marketcap, it is readily available on nearly every respected exchange. This accessibility and popularity has also led companies in the burgeoning digital securities sector to begin supporting the network for token issuances.

While Tron may not be the most controversial project around, it has had its fair share of hiccups since launch. Perhaps due to his presence on social media, various actions by Tron founder, Justin Sun, have also resulted in controversy – such as multi-million dollar lunches with Warren Buffet.

Most recently, multiple employees have launched a lawsuit against Tron, alleging that they were unfairly treated after raising concerns about the direction of the company. It is also alleged that this mistreatment culminated in the eventual firing of the employees.

This is not the only instance of a disgruntled former employee. In mid-2019, Tron cofounder, Lucien Chen, forfeited his post as CTO as he believed the project had strayed too far from its original ideologies surrounding decentralization.

Regulation?

At the time of writing, there has not been any official statement on the classification of Tron by regulators. While this may be a promising sign, as the project has been around for years now, this does not remove the possibility that the asset could be deemed a security. One aspect of TRX tokens which could be cause for concern is the integrated staking capabilities, as this may be viewed as an expected return/profit on investment.

For the time being, it is widely viewed that TRX tokens are utility tokens

Who Made It?

Tron was originally established in 2014, by Founder and CEO, Justin Sun. The current iteration of the project was developed and launched in 2017, along with the Tron foundation.

Tron Tokens Cryptocurrency Trading Risk Disclaimer

There is a very high degree of risk involved in trading securities, and this trading risk is higher with Cryptocurrencies such as TRX due to markets being decentralized and non-regulated. There is no central bank that can take corrective measure to protect the value of Cryptocurrencies in a crisis or issue more currency. You should be aware that you may lose a significant portion of your portfolio.

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All information contained herein should be independently verified and confirmed. We do not accept any liability for any loss or damage whatsoever caused in reliance upon such information or services. Please be aware of the risks involved with any trading done in any financial market. Do not trade with money that you cannot afford to lose. When in doubt, you should consult a qualified financial advisor before making any investment decisions.

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