A Beginners Guide to Investing in TRON
Ever since TRON (TRX) entered the cryptocurrency market in 2017, it quickly gained a vocal following. The team behind TRON was fast enough to leverage this community support and unique technical aspects to promptly make it one of the most desirable cryptocurrencies of all time. Currently, TRON is on the list of the top 20 cryptocurrencies globally.
For those who don’t know, the total number of active cryptocurrencies in the market is 10,000+, so if a digital coin manages to make its way into the list of top 20, it has to be special and worthy of your attention. Those who invested in this cryptocurrency at the initial TRON price managed to get capital appreciation beyond imagination. Some were lucky enough to get profits more than 2,000 fold. All this brought TRON into more limelight, and investors started showing their willingness to invest in this cryptocurrency.
If you’re a seasoned crypto investor or planning to start your trading journey, you might consider adding TRON to your portfolio. To make your work easier, we’ve curated an ultimate guide on TRON that will give you enough information needed to know this cryptocurrency better. So let’s quickly head to the points shared below.
TRON is a Pioneer in Decentralized Content Distribution
As decentralization is taking place online, more people have started becoming part of this revolution. While most available cryptocurrencies like Bitcoin and altcoins decentralize money issuance and distribution, TRON aims to go beyond that. TRON aims to decentralize the entire content distribution, challenging many big players like Netflix, Amazon Prime, etc.
With this cryptocurrency, people can share different content formats like movies, documents, etc., and get paid for it. It was why the platform integrated Bittorrent with it. As more people engage in content distribution using TRON, its demand will skyrocket, positively impacting its coin price. As an investor, you can expect it to happen over time.
TRON is Designed for the Real World
The cryptocurrency market has over 10,000 active cryptocurrencies, but not all are useful. Some are simply fancy whitepapers with no real-life substance. It is why when the ICO bubble burst happened in 2018, endless cryptocurrencies were wiped off the market. Luckily, TRON managed to survive this market crash and is still considered pretty valuable by investors. Many believe that TRON survived because of its utility, especially in the content distribution, payment, and entertainment sectors.
Since TRON aims to solve real-world problems related to the existing entertainment and content industry, it is safe to assume it is going to stay in the long run. If you want to diversify your crypto portfolio further, you can consider Shiba Inu in addition to TRON. Because during the 2018 market crash, Shiba Inu was another cryptocurrency that managed to survive the crash, despite the lowering of SHIBA to INR figures.
Low Transaction Fees
Transaction costs are among the key factors and determinants behind the usability of a cryptocurrency. Hence cryptocurrencies that charge less transaction fees are often on the list of good digital coins to invest in by many investors. If you take other cryptocurrencies like Ethereum, for example, you will notice people complaining about the high fees charged for every transaction. But it is not the same with TRON. With TRON, transactions are almost instant, and the fees involved are cheap compared to others. The network’s low transaction fees and fast transaction speed are among the top reasons behind the growing popularity of TRON.
TRON is Listed on Multiple Cryptocurrency Exchanges
The number of crypto exchanges that list a particular cryptocurrency plays a significant role in its growth. It directly impacts the liquidity and demand of a cryptocurrency. So the more crypto exchanges a cryptocurrency is listed in, the better. When it comes to TRON, its native currency TRX is available for trade in many notable crypto exchange platforms located in Asia and beyond. With the market momentum indicating massive growth, the easy availability will play into TRON’s demand in the long run.
Investment in TRON: Final Thoughts
TRON (TRX) is a widely popular cryptocurrency with its pros and cons. While the number of advantages of investing in TRON is plentiful, its cons or disadvantages are numbered. If you have always wanted to invest in a cryptocurrency that is backed by a strong development team, then TRON is for you. However, one should not ignore the volatility involved before investing in any cryptocurrency. As TRON is highly volatile and subjected to wild price swings, you can invest in it if it aligns with your investment goals.