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.
Poloniex to list Tron (TRX)
- TRON (TRX), ranked as the 11th largest cryptocurrency has a $1.1 billion market cap.
- Users will be able to start posting limit orders for TRX/BTC, TRX/USDT and TRX/USDC from November 12.
Poloniex recently announced that they will be listing TRON (TRX) on its platform. Poloniex was recently sold to new owners, who are reportedly expected to boost Asian involvement. TRON (TRX) is one of the largest altcoins and is currently ranked as the 11th largest cryptocurrency. TRX has a $1.1 billion market cap.
TRX will be listed on the exchange on November 12th. Users will be able to start posting limit orders for TRX/BTC, TRX/USDT, and TRX/USDC. Currently, only limited orders are available. However, full trading will be enabled “shortly after this date.” The exchange will also facilitate TRX deposits and withdrawals in the future. The news was also confirmed by TRON’s Founder and CEO, Justin Sun.
Poloniex team recently announced that they will be spinning out of Circle into “a new independent international company – Polo Digital Assets, Ltd. Backed by an Asian investment group, the spin-out will bring significant resources and freedom to deliver the product features and marketing strategies needed to be competitive.”
TRON also announced its partnership with the tech giant – Samsung. Samsung’s Blockchain Keystore recently added TRON’s blockchain. This will allow Keystore SDK users to create decentralized applications on it.
Recently, the company’s Odyssey protocol was also updated. Post-update, the network incentive mechanism has attained full decentralization as everyone will be able to access the rewards data. It ensures that the voters’ rewards are secured. TRON Foundation recently announced that TRX will also be listed on McAfeeDex, a decentralized exchange launched by former antivirus software tycoon John McAfee.
Tron Europe climbs the partnership ramp as 888TRON comes on board
Apart from adding TronEurope’s native token TERC to its gaming platform, 888TRON said that they would also be conducting a grand competition worth a whopping 50 million TRX.
The Tron community has always been known for its partnerships and integration into the community, and many of its latest partnership has always adhered to that mantra. One of Tron’s leading Super Representatives Tron Europe has now revealed that they have created an alliance with 888TRON. With the exclusive partnership, the platform will offer the first and online gaming platform to offer TERC token.
888Tron had officially stated:“Dear 888 family,
888TRON and Tron Europe are excited to announce an exclusive strategic partnership. TERC is the token that that fuels any of the Tron Europe operations Due to the fact that TERC is only distributed as a voting reward, its limited circulating supply gives it the possibility of rising in value.”
The companies have noted that the launch of TERC token play will be in action by December with other “major content updates.”
TERC shot to fame when the token stared being used for major DApps on the Tron blockchain. One popular DApp who stuck with TERCX was BeFaster, a health and sports DApp that creates a monetary benefit to users every time they use the application during exercising.
DVMarketplace, another popular application on Tron, was also part of the TERC family intending to create a decentralized marketplace based on the impending and imminent crypt payment systems. The partnership did not stop there as 888TRON added that they would also be conducting a grand competition worth a whopping 50 million TRX.
Touted to be one of the competitions with the biggest prize pool on the TRX blockchain, the company will offer the 2000 plus game catalog that is currently being tested for implementation.
“Our 888TOKEN is limited to a maximum supply of 100 million for all current and future updates. We will list on all major exchanges and have a clear roadmap for 2019-2020. The community believes that because TERC is only distributed as a voting reward, its limited circulating supply gives it the possibility of rising in value.”
The number of DApps being built on the Tron blockchain has also enabled it to be elevated on the charts in terms of price and market cap. At press time, the cryptocurrency was trading for $0.019, with a total market cap of $1.269 billion. At a current 24-hour price decrease of 1.16 percent, the cryptocurrency was holding a 24-hour market volume of $1.124 billion.
Disclaimer: The presented information is subjected to market conditions and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.
Coingaming Partners with TRON Foundation to Deliver Future of TRX gaming
November, 2019, Tallinn, Estonia – The Coingaming Group has agreed on a partnership with the TRON Foundation, the non-profit organization behind the popular cryptocurrency TRX, welcoming the TRON community to use the currency for the first time with the leading brands in the crypto gaming space – Bitcasino.io and Sportsbet.io.
TRON transactions happen almost instantly and without any fees, making it a perfect match for the fun, fast and fair gaming experience provided by the Coingaming Group’s customer-centric gaming brands.
Bitcasino.io and Sportsbet.io users can now enjoy some of the lowest entry levels in the industry via TRX, bringing world-class gaming to an even wider audience. With a minimum deposit of just 100 TRX (around €1.80) and no transaction fees, it is cheaper and easier than ever before to play and bet with TRON, which has already gained popularity as the ultimate gaming coin.
Tim Heath, CEO of the Coingaming Group, voiced his thoughts on the new partnership, stating:
“We always work hard to put our customers at the center of the universe, and by adding TRX gaming we are once again at the cutting edge of what is possible in this space. We are particularly excited to offer a low minimum deposit threshold and zero transaction fees, ensuring Bitcasino.io and Sportsbet.io gaming can be enjoyed by even more players for the first time.”
“The TRON community is one of the most engaged, forward-thinking and dynamic in the cryptocurrency world. It is also passionate about gaming, so this is a great opportunity to introduce TRX holders to the fun, fast and fair world of the Coingaming Group brands. We are certain they will enjoy the ride.”
Games from some of the industry-leading game providers – including OneTouch, Evolution Gaming, GameArt, and Kalamba – now offer native TRON play, meaning Bitcasino users can wager directly in TRX without the need for in-game currency conversions.
Justin Sun, the founder of TRON, added:
“One of the TRON Foundation’s core missions is to support growth by providing engaging, real-world use cases for TRX. We’ve been aware of the market-leading gaming brands operated by the Coingaming Group for some time now; Bitcasino.io and Sportsbet.io are fantastic examples of what is possible when crypto-led products put the customer above everything else.
“It is genuinely thrilling to see another world-class brand open its doors to the TRX community.”
Meanwhile, Sportsbet.io has already given away a massive 1 million TRX to celebrate the launch through its nail-biting ‘Last Man Standing’ competition, which saw the ultimate winner successfully predict seven correct outcomes.
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Coingaming is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.