A decentralized, open source cryptocurrency in nature, Tron is largely used in day trading, and is one of the top 15 cryptocurrencies with respect to market capitalization. The Tron ecosystem aims at being a digital content distribution platform for the entertainment industry. Its cryptocurrency, Tron (TRX), is used by content users and consumers to pay for access to the content available on the network. Creators have the power create content for free, store it and own it on the Tron blockchain.
These tokens find their way to the accounts of the content producers as when a consumer pays for access to their content. Content producers can then exchange these tokens for other cryptocurrencies and cash out via an exchange, or use the tokens to pay for blockchain services. The ecosystem eliminates the middleman in the entertainment industry, allowing consumers to interact with creators.
How to buy Tron
When it comes to buying Tron, an individual has two options. You can buy Tron an a popular exchange like Binance, hoard your tokens for a substantial amount of time and sell when you feel the price of the coin has risen significantly. You can then proceed to sell your acquired coins on an exchange. The second option is with respect to trading a contract for difference on a particular cryptocurrency, and speculate on the difference in price. CFD trading is, however, very risky, especially for traders with little or no knowledge with this investment type. That being said, there are various crypto trading software and other tools, which can be of good help when trading cryptocurrencies such as Tron with contracts for difference.
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The cryptocurrency was first launched in 2017, and has been a massive hit ever since. It was listed on CoinMarketCap on the 13th of September, 2017 at $0.002, its trading volume being $48,512 on the day. The highest price recorded by the token was during trade on the 5th of January, 2018, reaching $0.30. It received its largest trading volume a day before that, at $4,089,410,000. Due to the circulation of its token and decentralized issuance, Tron is widely traded and is the best cryptocurrency suited to day trading.
Why trade in Tron?
Among the many liberal and non-liberal reviews published by cryptocurrency journals, Tron finds itself in good light with respect its project vision and its plethora of features. Here is why you should invest in the coin today, and what makes it best suited for cryptocurrency day trading –
- Purchasing Tron is simple and straightforward. You purchase tokens on Binance and trade your tokens immediately, or as per how you wish to.
- Tron has seen massive rises in value, with some weeks having charted a 2000% appreciation on its value.
- Unlike other cryptocurrencies, the ecosystem wants consumers and users to initiate their own coin offerings by individually dispensing digital assets.
- Tron allows content creators to own the content they create with respect to the entertainment industry. There is no middleman involved, and consumers can interact with producers, the consumers of which pay in the Tron token to access content they wish to see. These tokens are then transferred to the content creators, who can choose to trade these tokens for other cryptocurrencies and either cash out, or hold on keeping in mind a long term investment.
- The core team behind the project is solid, with a set of ideals and principles they swear by. Forbes has published an article in awe of their CEO, Justin Sun, terming him to be the “Next Jack Ma”.
- The roadmap of Tron’s vision outlines two future phases, with respect to the gaming industry and market forecasting. Investors may buy in to this as and when it is released, generating significant profits from the same and forecasting future market scenarios. These two phases could have a substantial impact on the growth and value of the token, making it ideal for day trading.
The safest bet to storing a cryptocurrency is a hardware wallet. There is no point buying a cryptocurrency if you do not secure it securely. The last thing anyone would want is their earnings being stolen, or their wallet hacked into. The Tron ecosystem being built on the Ethereum blockchain, the best offline wallet for storing Tron is the MyEtherWallet (MEW). The best hardware wallets for the same are Ledger Nano S and Trezor.
Conclusion on why Tron is the best crypto to day trade
The Tron ecosystem is taking a fantastic approach with respect to the entertainment industry, eliminating the middleman between consumers and producers and allowing for financial empowerment. The have a clear vision, a significant financial backing and a highly qualified team, add to which a fantastic environment for day trading.
As is the case with all cryptocurrencies, Tron too is volatile and investing in the coin comes with its own set of risks. Be brave, invest keeping a long term vision in mind and wait for its future updates, as mentioned in its roadmap! Tron is set to be a top 10 cryptocurrency in the near future.
Tron (TRX) Surges to Top 10 as Justin Sun Teases TRX-Based Decentralized Stablecoin
Justin Sun has been creating new developments for the TRX coin recently with anonymous transactions being the latest one. Now, Sun has announced an upcoming launch of a decentralized stablecoin based on TRX and BTT.
Meanwhile, there is more good news. The current pump of the Bitcoin price and altcoins has taken Tron (TRX) back to a top ten spot on the CoinMarketCap scale where it has not been for approximately a year.
Image via CoinMarketCap
TRX-based decentralized stablecoin
A short while ago, Justin Sun took to his Twitter page to announce an approaching release of a decentralized stablecoin pegged to TRX and BTT. He asked the community for the best title for it.
Sun’s readers on Twitter offered various titles in response – from sarcastic ones to those that could indeed serve as a name for a Tron-based stablecoin. The word ‘scam’ got mentioned a lot.
Tron regains top 10 spot
Finally, the thing that many
Justin Sun promised to get TRX to the top-ten list back in summer 2019 and bring BTT back to the top fifty. Another target Sun set for the Tron team back then was to get TRX pairs added to Coinbase and Binance U.S.
Recently, it was reported that TRX is among the coins that are being considered by the American branch of Binance.
Tron promoted by top YouTuber PewDiePie
As recently reported by U.Today, Tron has received a brand new level of promotion after the top YouTube blogger PewDiePie mentioned Tron and TRX several times in one of his recent videos.
PewDiePie has 102,000 followers on YouTube and over 75,000 people follow him on Twitter. He also broadcasts live streams about once a week on the DLive app – which was recently acquired by Tron.
Justin Sun then announced a long-term goal to turn DLive into the number 1 streaming dapp for the crypto community.
Tron [TRX] Addresses are the 3rd Most Active after Bitcoin and Ethereum
Tron, the smart contracting platform that competes with Ethereum and EOS and ranked highly by the China’s Center for Information and Industry Development (CCID), has climbed up the public addresses rankings only trailing Bitcoin and its competitor, Ethereum.
Tron is the third most active after Bitcoin and Ethereum
Taking to Twitter to report the good news, Misha Lederman, a staunch supporter of the Justin Sun-led platform, said there were 233k active addresses generating 1 million transactions.
Meanwhile, Bitcoin had the most active addresses, at 640k, however, they only churned 300k transactions. Compared, Ethereum had 281k active addresses but lags in the number of transactions.10 BTC & 20,000 Free Spins for every player in mBitcasino’s Winter Cryptoland Adventure!
5% of all Tron Addresses are Active
According to data from Tron Scan, the network’s explorer, there are over 4.4 addresses moving over 896k transactions in the last day alone. Also, the network has 972 online nodes with a throughput of 6 TPS. From this, simple math reveals that although Tron prides of millions of addresses but only 5% are active.Advertisement
By Jan 15, 2020, additional data from CoinMetrics also reveals that the number of Bitcoin addresses is 10X more than Tron’s at 759k and 70k, respectively.
An earlier Twitter post from Tron Scan said the 4 million address milestone points to an ecosystem that is rapidly developing.
A parallel finding by DappRadar, a dapp analytics firm, further concludes that Tron is almost purely a gambling platform.
“TRON is a blockchain that’s almost purely for gambling. And it supports this category very well, both in terms of high daily usage and generated value.”
Moreover, while developers can launch on the platform, it’s a tall order to sustain audience:
“This isn’t to say developers haven’t attempted to launch other types of dapps on TRON. A decent number of games have been released but, as with dapps in other categories, it appears to be easy to launch well on TRON, but very hard to sustain an audience.”
Dismissed the current Bitcoin Rally
Misha Lederman also dismissed the current Bitcoin (BTC) revival terming it as a blend of hopium and fear about a “notorious fraudster.” Sentiment around digital assets has improved in recent times.
As evidence reveals, Bitcoin’s dominance felled from 68% to 66% at the time of writing hinting of investors re-balancing.
A section of them might have shifted their funds to altcoins in anticipation of the so-called “altcoin season” that could directly benefit TRX, the native currency of Tron.
News Today – Top Headline for Tron TRX
- Justin Sun to pay 1 million TRX to a Tron troll
- Twitter user demands that Tron should pay its unofficial promoters
- Biggest digital asset promoter running for president
Tron News Today –Tron has entered the limelight again after CEO Justin Sun offered to pay a whopping 1 million TRX to a Tron troll. The so-called Tron troll alleges that because Ethereum pays its trolls openly quarterly every year, that Tron must do the same. The user behind this is Udi Wertheimer. Wertheimer is a Bitcoin proponent and co-host on the Reckless Review podcast. He made the claims in a recent Twitter post. According to the user, Sun hasn’t given him any rewards for his actions. Claiming he shilled Tron and helped build its reputation on crypto Twitter. In end, Sun had to bulge to his remarks.
Tron Should Pay its Unofficial Promoters Like Ethereum Does
According to Wertheimer, Ethereum and ConsenSys usually compensate their trolls per quarter. Paying $70,000 every quarter in total. Sun quickly responded to the post that he would pay 1 million TRX to the Twitter user if he sent his wallet address to Sun’s DM.
Additionally, in the comment session, Wertheimer calls Sun his friend, that’s why he agreed to collect 1 million TRX for his role that he usually charges more than that figure. At this point, sarcasm found its way into the picture. But knowing Sun’s SMM tactics (an example was the Warren Buffet lunch), it could be that the dialogue was set up to make Tron the center of attention once again.
Most Prominent Crypto Promoter Running for President
The art of shilling coins has spread seriously on crypto Twitter. John McAfee the biggest crypto promoter who gave up his job is now running for the presidency. Two years ago and earlier than that, McAfee shilled a large amount of coins and covered one ‘coin of the day’ on Twitter. One of his favorite tokens at the time was Docademic (MTC). McAfee is alleged to have a large stash of MTC. McAfee also initiated a conflict with HitBTC exchange over MTC.
During his coin promotion campaigns, the market saw what was called the McAfee effect. Whenever the crypto mogul would talk about any crypto or call it a champion, its price will begin to surge higher shortly after. The community will start to buy it, thus pushing its price up. Eventually, McAfee stopped promoting digital assets and ICOs when the SEC started a crackdown on the asset class. The federal regulator demanded that McAfee stopped his work as a promoter. At the time McAfee alleged that he received threats from the SEC.