Tron (TRX) Review (9.33/10⭐)

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The Tronix token represents the technology in the Tron network. In addition, it is the basic unit for all the Tron user accounts. Other tokens stored in the Tron wallet are dependent on the value of the Tronix coin to know how much they are worth. This coin's gain in value inspired the creation of the Tron blockchain. It's also available as a BEP-20 token on the BNB chain.

 

A Bit About Tron

In September 2017, the Tron network was developed and released with its native coin TRX. The core developer is Justin Sun, a renowned entrepreneur in technology. He served as the CEO until 2021, when he stepped down. Tronix tokens can be used to purchase items through the TRX Store.

The native coin of TRON, with amazing speeds and super low handling fee.CryptoLists.com

 

This token is the primary token for Tron blockchain and enables easy transactions throughout the network. Aside from the TRX token, there are TRC-20 and TRC-10 token standards, which make available, opportunities to dApp developers of apps under the Tron ecosystem. With the inception of this network, the Tronix token changed from being an ERC-20 token based in Ethereum to a Tronix token under the Tron blockchain. Back in 2017, this coin's Initial Coin Offering (ICO) was a huge success as it managed to raise a sum of $70 million to introduce the currency and further develop the Tronix network. In exchange for Tron tokens, investors changed their BTC or ETH.

 

Utility of Tron?

With Samsung Electronics including the Tronix network in their Samsung Galaxy S10 series, users will enjoy quick and secure access to various decentralized apps provided. Tronix tokens will be used to pay for the services included in the apps. The TRX store offers goods you can buy using these tokens. Travala's traveling services introduced Tronix payments for voyage and accommodation services; therefore, you can use your cash for other purchases during your vacation. On the other hand, you can choose to hold or stake your tokens for gains; the more you risk, the more you earn.

 

Advantages of Tron

+ You can purchase goods and services with the coin.
+ Experienced crypto professionals run this coin's blockchain.
+ These tokens are widespread, therefore, available in various exchange.
+ Most transaction costs are affordable, particularly withdrawal costs.
+ One of the top 15 cryptos in the world.
 

Disadvantages

- There is stiff competition from well-defined coins like BTC and ETH.
- Some say the coin and network is actually too centralized.
- Open to large fluctuations dependent on the wider crypto market.
- It's not supported by the major Coinbase exchange.
- Like many altcoins, it's still overly tied to the performance of Bitcoin.
 

Costs

▪ Rated at 10/10
*Buy tax: 0.5%   *Sell tax: 0.5% * at the time of writing. Note that this may change from time to time.

There are several transaction fee types, trading fees, withdrawal fees, and deposit fees. These three vary from one exchange to another. For example, for HitBTC exchange, withdrawal fees stand at 108TRX, while other exchanges like FTX, Poloniex, and 50X charge 0.0TRX, 0.01TRX, and 1TRX, respectively. Many exchanges don't charge deposit fees to encourage crypto enthusiasts to deposit their crypto in their systems. At the same time, trading fees apply to most crypto exchanges. They all charge when trading Tronix with different percentage ranges. For instance, Bitvavo charges 0.15%-0.25%, AAX fees stand at 0.06%-0.1%, and WazirX exchange will charge you a fixed 0.2%.

 

Reputation and Buzz

▪ Reputation rated at 9/10
▪ Buzz rated at 9/10

Online discussions hype the coin because of its cheap nature and promising future with its parent network forming partnerships with big corporations like Samsung, Mix Marcel, and Opera Web. However, some people are claiming that it's a scam coin.

 

FAQ

Who created the TRX token?

Justin Sun, back in 2017 when he introduced and announced its launch.

From which blockchain is the Tronix token?

Although it was an ERC-20 token, currently, the Tronix token is under the Tron blockchain and as a BNB Bep-20 token.

How much can you be charged for TRX transactions?

It depends on the transaction type and the crypto exchange you choose. Withdrawals range from 0.0TRX to 100TRX. On the other hand, trading fees range between 0.1% to 0.3%.

What can you buy with Tronix tokens?

You can buy goods and services. Commodities from the TRX store and tickets from the Travala travelling service.

Where can I buy TRX tokens?

These tokens are available in many exchanges, including, Poloniex, Binance, Gate.io, among others.

 

History of Tron

July 2014 - The ecosystem was estabilished by Justin Sun.

August 2017 - TRON held their initial coin offering (ICO) for TRX.

June 2018 It switched from the Ethereum blockchain to an open source network known as Tronix.

December 2022 - TRX is firmly established as a top 10-20 coin as listed on CoinMarketCap.

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Screenshots from Tron

 

More sites where to buy/sell/trade Tron

Below you can see some other platforms, exchanges and/or brokers where you can buy, sell or trade this token. Click on the logo to read our review.