Your guide to trading TRON (TRX)

Why is TRON important to traders?

TRON is a blockchain-based decentralised protocol, founded by Justin Sun, which aims to be a content distribution platform for the digital entertainment industry. The TRON project has an internal TRON (TRX) cryptocurrency referred to as TRON or TRONix.

TRON can be used by content consumers to pay for access to content they want within the TRON network. These coins then go to content producers’ accounts, where they can be exchanged into other cryptocurrencies, or used to pay for blockchain services.

TRON is aiming to be a global and free content ecosystem, where creators have the power to freely publish, store and own their content on the TRON blockchain, allowing direct interaction between consumers and creators (eliminating the middleman in the entertainment industry) thanks to the decentralised issuance, circulation, and trading of digital assets. TRON is currently one of the top 15 biggest cryptocurrencies in terms of market capitalisation.

TRON trading hours

You can trade TRON CFDs on Capital.com 24/7.

How to trade TRON CFDs

An individual has two options when trading in the cryptocurrency market. Firstly, they can buy actual cryptocurrency on exchanges, such as buying TRON on an exchange like Binance, so they own the TRON themselves. This is considered a long-term investment, as the individual is waiting for the price to rise significantly, so they can sell their crypto coins on an exchange. Alternatively, they can trade a contract for difference (CFD) on a particular cryptocurrency, and speculate on the price difference.  

A CFD is a financial instrument, which is a contract, typically between a broker and an investor, where one party agrees to pay the other the difference in the value of a security, between the opening and closing of the trade. You can either hold a long position (speculating that the price will rise) or a short position (speculating that the price will fall). This is considered a short-term investment as CFDs are used within shorter timeframes. For instance, to trade TRON CFDs, you can speculate on the TRX/USD pairing.

There are pivotal differences between buying a cryptocurrency and trading a CFD in a crypto market. When buying cryptocurrency, it is stored in a wallet, but when trading CFDs the product is stored in your account, which is regulated by a financial authority. You are more liquid when you purchase CFDs because you are not tied to the asset, you have merely purchased the underlying contract. As well as this CFDs are a more established and regulated financial product.

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What is TRON? What is cryptocurrency?

TRON or TRONix is the native cryptocurrency of the TRON network, which aims to be a content distribution platform for the digital entertainment industry. Cryptocurrencies can be split into either: utility tokens; providing access to the services provided by a particular project, security tokens; something representing an underlying asset, or a payment token (like Bitcoin). A cryptocurrency is a digital asset conceived for use as a medium of exchange, which uses cryptography to secure transactions, control the supply of additional units, and corroborate transfers. In short, cryptocurrency is a decentralised elecTRONic currency. Cryptocurrency is stored in a ‘wallet’, which can take various forms. For instance, TRON can be stored in an online wallet, or alternatively in an offline elecTRONic wallet, and it can even be stored physically in hardware.

Why trade TRON CFDs with Capital.com

Advanced AI technology at its core: A Facebook-like News Feed provides users with personalised and unique content depending on their preferences. If a trader makes decisions based on biases, the innovative News Feed offers a range of materials to put him back on the right track. The neural network analyses in-app behaviour and recommends videos, articles, news to polish your investment strategy.

Trading on margin: Providing trading on margin (up to 1:2 for cryptocurrencies), Capital.com gives you access to the cryptocurrency market with the help of CFDs.

Trading the difference: When trading a TRON CFD, you don’t buy the underlying asset itself, meaning you are not tied to it. You only speculate on the rise or fall of the TRON coin price. CFD trading is nothing different from traditional trading in terms of strategies. A CFD investor can go short or long, set stop and limit losses and apply trading scenarios that align with his or her objectives.

All-round trading analysis: The browser-based platform allows traders to shape their own market analysis and forecasts with sleek technical indicators. Capital.com provides live market updates and various chart formats, available on desktop, iOS, and Android.

Focus on safety: Captal.com puts a special emphasis on safety. Licensed by the FCA and CySEC, it complies with all regulations and ensures that its clients’ data security comes first. The company allows to withdraw money 24/7 and keeps traders’ funds across segregated bank accounts.

History of TRON

TRON was first launched in 2017, and first listed on CoinMarketCap on 13 September 2017 at $0.002. The trading volume that day was $48,512. The currency’s highest price of $0.30 was reached during trading on 5 January 2018, while its largest trading volume of $4,089,410,000 was posted the previous day. Although TRON is a decentralised network, the TRON Foundation is a non-profit organisation that engages in operating the TRON network transparently, headed by Justin Sun. TRON originally began on the Ethereum blockchain, with tokens being offered in the ERC20 (Ethereum’s smart contract) form. But token migration occurred between 21 June and 25 June, where all ERC20 TRX were exchanged to Mainnet TRX (on TRON’s own blockchain), creating the TRON genesis block. Justin Sun himself has gained recognition from institutions such as Forbes, featuring several times on their ’30 Under 30’ lists.

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