TRONS native currency, Tronx, can be bought and sold on an extensive range of crypto exchanges. Tronx, which initially functioned as an ERC20, was founded in 2017. And with many popular businesses allowing investors to buy and sell TRON, you must know how to buy TRON in Australia.
The recommended way to buy TRON in Australia is: Swyftx
What is TRON
Tron mainly decentralises the internet, focusing on unsettling the content creation and sharing process by using blockchain technology. Its popularity has increased among developers for the design of decentralised applicators (DApps).
Among the widely used blockchain networks and TRX, Tron has a market capitalisation of $2 billion and is listed as 18th among all cryptocurrencies. If you are looking forward to purchasing TRON in Australia, swyftx is the most recommended crypto exchange to consider.
How TRON Works
Being a blockchain-based entertainment content sharing tool, TRON will immensely improve the world entertainment industry. TRON enables the creation and publishing of decentralised services and limited control from major entertainment firms like Facebook, Apple or Google.
It was created to change the perception that the control of the internet is no longer among the users and has been taken over by large social media companies, media sites and advertisement agencies.
TRON eliminates the profit-motivated middle man hence allowing direct transactions between the content creators and the consumers. This is made possible by the use of blockchain technology as well as its peer-to-peer benefits.
To cut out the middlemen, TRON creators have developed a system that determines creator rewards. The reward formula accounts for the following;
- Creation of content: Creation of content that enables an ecosystem that is healthy enough to generate rewards. Users that create more content are rewarded in direct proportion.
- The metrics of popularity and engagement-Increase in the reward for content creators come from signals of user engagement and entertainment such as likes, comments and shares.
A Quick Guide on How to Buy TRON
- Create an account on Swyftx to get started with buying TRON. You’ll need an email address and any other details required during the registration process.
- Next, you’ll need to deposit some funds into your newly created Swyftx account.
- You can now start purchasing TRON and trading it with other cryptos
How to Buy TRON with Other Cryptocurrencies
- Purchase BTC or ETH: The common cryptocurrencies against which TRX is traded are bitcoin and Ethereum. BTC, ETC is the most recommended cryptocurrencies to acquire if you intend to buy TRX.
- Create an account: TRX can be traded on a wide range of exchanges; therefore, determine the difference in the features and fees of different platforms before choosing the one to use.
- Commit finances into your account: Settle on your chosen currency and copy the correct wallet address or scan the QR code given. Use the address while making transactions for the first time from your external crypto wallet.
- Purchase TRX: After depositing the amount into the account, begin the exchange and settle on either basic or advanced trading views. After that, find the trading pair you prefer to use, e.g. TRX/BTC and select a limit; it could either be a market or a stop-limit order. Choose the value of TRX you wish to purchase.
Always see to it that you review the purchase details and the total amount before you go on with purchasing the TRX.
Where To Buy TRON
Having exclusive knowledge on how to exchange fees, the supported fiat currencies, and more exchange metrics help you settle on where to buy your TRON. So what are some of the best crypto exchanges you should consider?
1. Swyftx—Best for the Purchase of TRON
Swyftx is our #1 crypto trading platform in Australia, utilising a genuine and straightforward way for people to transact and trade more than 280 cryptocurrency projects. It has grown in popularity since it began in 2009, with registered users exceeding 250,000. The platform is also easy to use, quite personable and enriched with features for beginners, intermediate and advanced traders.
This popular crypto exchange platform has enabled a fast and straightforward process to register, verify, commit funds and start trading. Unlike other trading based in Australia, e.g. CoinSpot, CoinJar and Independent Reserve, the need to upload ID documentation has been eliminated or passport photos and wait for long periods for approval.
In other words, Swyftx’s fastened verification enables users to start immediately, usually requiring just a name, email address and ID documentation information.
The multiple security layers on swyftx ensure safe exchange and security to clients finances. This implies that users require password verification and a 2FA device to be able to log in smoothly. Two-factor authentication and cold wallet storage are also employed to keep safe the customer’s accounts and wallets.
Pros
- Swtftx offers value for money and aims at being the leading value exchange in Australia through minimal spreads.
- There are a lot of cryptocurrencies on this trading platform.
- Swyftx has a customer service response time that averages 1.5 minutes.
Cons
- The total value of the price may be offset by USD/AUD conversion rates after the pay-free period.
- Swyftx often only permits AUD fiat deposits; however, there are currencies available for more significant transactions.
2. Binance—Best When Looking for Lower Fees
Concerning trading volume and liquidity, Binance is the best cryptocurrency in the world. It has proven to be beginner-friendly, easy to use, and allows many trading pairs, features, innovative products, responsive customer support, and competitive fees. Its exchange is permitted in many countries worldwide, supports the highest number of trading assets and has excellent liquidity.
While creating a Binance account is free, there are some costs you will incur. For example, you’ll incur some costs when depositing funds into your Binance account and withdrawing funds. The fees mainly apply to exchanges that are not decentralised to cover the companies expenditures for offering the infrastructure that enables a safe trading environment.
Binance is widely known due to its support for many fiat currencies. It has a wide range of transacting funds into the trading account, e.g. SEPA, credit/ debit cards, bank transfers, cash deposits and wire transfers.
Pros
- The instant and non-instant buying fees are low
- Wide range coin selection
- There is a large number of extra services
- Cryptocurrencies exceed 50
Cons
- Absent in seven states in America
- Missing in the united states
3. Digital Surge—Best for Ease of Use
Digital Surge offers an exclusively easy way to transact—buy, sell and bank crypto in Australia. The emphasis on simplicity makes this crypto exchange one of the best crypto trading platforms for most investors, especially those just getting started with crypto.
Furthermore, Digital Surge boasts a motivated team based in Brisbane focused on building trust and transparency within the community involved with cryptocurrency. In most cases, the team gets involved in various community functions to create awareness of the crypto industry.
What’s more, Digital Surge offers a wide selection of cryptocurrencies—more than 270 currencies on the exchange that can be purchased or sold. The platform has immediate AUD deposits and withdrawals so that traders can buy and sell crypto rapidly.
Every currency has been openly listed with its corresponding exchange price in AUD for the past twenty-four hours. There is also the choice to list favourite coins on a watch list for easy access.
Digital Surge is one of the most affordable cryptocurrency exchanges in Australia, with an optimum charge of 0.5 per cent for buy and sell trades. The other respected providers, such as CoinSpot, offers 1 percent and BTC markets 0.85 percent.
The fee is sometimes revised down to 0.1 percent for trades involving large funds, over $1 million in 30 days. Even more, the spreads average 0.4 percent for every transaction cutting across the 270 allowed trading coins.
Generally, Digital Surge has one of the best compensation for money and the most affordable platforms to purchase altcoins following its low trading fee rates and spreads.
Pros
- It has a simple and intuitive user interface that is good for beginners.
- Registration and beginning trading takes a short time
- Easy accessibility of price notifications, recurring purchases and trigger orders
- All-time customer service through the chatbox and email
Cons
- AUD is an independent choice for fiat deposits.
- The use of credit cards to commit funds into account is not acceptable
4. CoinSpot—Best for Multiple Cryptocurrencies
Another Australian cryptocurrency exchange that provides a secure platform for purchasing and selling cryptocurrencies is Coinspot. It is located in Melbourne and allows users to buy and sell bitcoin immediately or transact the open market to analyse and accrue potential profits.
It is a legal company registered under Case Block Services Pty Ltd selling and buying as CoinSpot. The exchange is under the watch of the highly managed Australian financial sector to conduct efficient operations with traders money.
Coinspot cryptocurrency exchange keenly observes the regulations by Australia’s strict new AML/CTF laws enforced by AUSTRAC to cement the safety of user accounts. The transaction incorporates bank-like security guidelines to ensure customer information confidentiality and keep finances safe.
Coinspot features 2FA authentication, demanding a mobile code to access the platform. It is a role model for other exchanges across the globe on security issues, making it one of the safest platforms to trade crypto.
Like many other cryptocurrency exchanges, new users must sign up with CoinSpot and follow through the registration process to create a crypto trading account. To begin, go to the website and choose the “register” option at the top of the webpage, provide the details and click “create account”.
The CoinSpot exchange requires an email address to verify the traders’ access to the submitted email address. Email address verification is the essential and only requirement for a complete registration after which, the beginner can log in for the first time.
Pros
- Users can directly purchase in AUD.
- The fees for deposits and withdrawals are minimal and sometimes free.
- A user-friendly interface
- Provides a wide range of choices of cryptocurrencies
- Observes AML/CTF regulations
- There are other supportive services like OTC trading, mobile app, SMSF support.
Cons
- Confined only to Australia
- Absence of margin trading
5. Cointree—Range of Depositing Methods
Cointree is another Australian cryptocurrency exchange founded in 2013 to enable a fast and safe process for buying bitcoin and various digital currencies. This exchange platform has registered users exceeding 80,0000 and has transacted more than 250 million dollars.
Cointree offers 160 digital assets to purchase, trade and sell and has a competitive charge ranging from 0.5 percent to 0.9 percent. It is an excellent exchange to commit to AUD and convert in a comprehensive digital option like Cardano, Bitcoin, Ethereum and XRP.
Cointree seems to be a genuine cryptocurrency exchange that AUSTRAC regulates. Besides, this trading platform operates under strict confines of the Australian jurisprudence, such as AML/KYC, to control the risk of fraudulent happenstances.
This Australian crypto platform has been of great help to beginners, intermediate and highly achieving investors to begin trading digital assets like TRON, Ethereum and others since its inception in 2013.
Cointree is a secure crypto exchange with several security measures that secure users’ personal information and finances. These guidelines include SSL certification, two-factor authentication, wallet and encryption of intel that is personal.
The tiered fee structure used by this crypto exchange ranges between 0.5 percent to 0.9 percent concerning the volume traded. The trading fees are relatively high but quite reasonable for investors with a high net worth. Even so,
Pros
- Account setup on Cointree is straightforward
- A supportive customer support team to always guide you
Cons
- The longer verification process of between 24-48 hours
How To Sell TRON
Ensure you enter your registration and trading details in the “sell” and not the “buy” tab and review the trade before allowing the transaction to happen.
Also, note that TRX is not paired with every possible crypto and fiat currency, making it hard to trade the TRX with the money you prefer or have chosen.
Wallets to Hold Your TRON
The launch of the TRON mainnet in June of 2018 enabled Tronx to cease being a member of ERC20 on the Ethereum network. This implies that one may need to establish a wallet that can work with TRX mainnet tokens. The options of the wallets you can choose from have been recently widened.
TRON community has developed wallets such as the desktop, Android/iOS and web browser extension wallets currently listed on the TRON website. A desktop application called the Tropscan can also be used to run TRX holding through the Nano-S- hardware wallet.
Factors to Consider Before Buying TRON
Cryptocurrency is a complicated and delicate asset, so before purchasing any digital coin or token, you need to have conducted enough research. Below are some of the factors you need to consider before purchasing TRON in Australia:
- Power of TRON: TRON holders can lock their funds away for a relatively long time; thus, holders become powerful. Tron holders also are endowed with certain privileges such as election participation.
- Chief Executive Officer Justin Sun: Sun also founded Peiwo, which is a mobile application. He has also been the chief representative of Ripples in great china and made it to the Forbes list of 30 under 30 entrepreneurs in 2017.
- Accusations of plagiarism. TRON was previously accused of plagiarism in January of 2018. Sun argued that the allegations happened following misrepresentation and misunderstanding of information by volunteers. He reacted by releasing revised white papers with no plagiarised content,
- Relationships. Networking and forming partners is an integral aspect of the business. TRON has built excellent relationships with the virtual gifting platform Gifto, a gaming site like any other business. Com, Peiwo.
- Innovation and technology. To understand the level of innovation and Tech expertise invested in TRON, read the design book of the TRON architecture.
- Adoption battle. Tron endeavours to create a simple, secure and transparent platform for content creators, opportunities for social networking and a wide-reaching platform for trades to transform TRX into a digital currency of their choice and transact to accumulate rewards. TRON is committed to having the market buy into its goals despite the evident tough competition from senior established content channels.
Buy TRON With Swyftx
Using AUD or USD is fast and easy when buying BTC and other cryptocurrencies with Swyftx and has a wide range of choices for transacting funds.
Users can use the Australian bank accounts to invest up to AUD 50,000 through a bank transfer, POLi payment, OSKO and PayID—deposit or withdrawing AUD is free. Swyftx has developed and committed to accepting debit and credit cards to purchase cryptocurrency.
