Buy TRON (TRX)
In recent years, we have all heard stories about the incredible growth of some cryptocurrencies. Sometimes the price jumps by thousands of percent. This attracts a lot of people who want to make a solid income out of almost nothing.
After all, the cryptocurrency market can be accessed without much cash, but it gives anyone the opportunity to invest in low-cost coins. Today, experts advise paying attention to promis new cryptocurrencies that can bring good returns, and such coin is TRON(TRX).
Before we buy TRON in Kenya, let's take a closer look at the project.
What is TRON(TRX)?
The creator of the TRONIX platform is the TRON Foundation. The founder of the new blockchain platform TRON is Justin Sun. The TRON project, based on a distributed blockchain protocol, is an international entertainment platform.
TRON's innovative platform is analogous to the App Store and Google Play. Several cryptocurrencies can be used in the system, with TRONIX's own token (TRX) having a special place among them.
TRX, which is used in the project, has been of particular interest to Asian investors. Jack Ma, the founder of the famous trading platform Alibaba, was one of the first major investors who managed to discern the merits of the project early on.
The project's content is limited to the entertainment industry. It allows you to keep in blockchain: gambling clubs, online casinos, social networks, entertainment videos, live- streaming, games and entertainment apps, music, literary works, images. The blockchain protocol enforces the copyrights of the creators of any content. It protects their transactions securely.
The main idea of the project, is the desire to create a free platform for sharing quality content, which users living in different parts of the world will have access to.
The developers of the TRON project have defined a strategy for the development of the electronic TRX coin for the next 10 years and written an action plan. It indicates what measures should be taken in times of crisis and how to strengthen the currency.
The long- term vision is to create a unique virtual space in which users will have free access to their account and all the information that will be posted on the network. Participants will have the right to convert tokens and receive rewards, thus giving the project new incentives and guarantees of development.
Considering that today's digital entertainment and video games industry has a turnover of more than 1 trillion dollars, the TRON project could become the main provider of online entertainment and a market monopolist, which is a good argument in favour of buying (TRX).
How to buy TRON in Kenya?
The most popular and convenient way to buy TRX is through an online platform.
Trading platforms are extremely important. It is impossible to imagine modern online trading without using them.
It should be noted that some platforms work through a web browser and do not require installation on your computer. But most trading platforms must be installed on the device (PC) from which you will be trading.
The terminal allows the trader to analyse, open trades and makes it much easier to practice a trading system. Coins can be bought, sold and exchanged at the market rate.
There is a wide range of such platforms in Kenya, you just need to choose the most stable and convenient one, where it is profitable and safe to trade. When choosing a platform for digital asset transactions, special attention should be paid to the reliability and stability of the company.
You will find many tools in the trading platform, the main purpose of which is to facilitate the trader's trading process.
- Advanced risk management tools.
- Real-time price and market alerts.
- Cryptocurrency CFDs.
- Free demo account with no restrictions.
- Real time economic calendar with current events.
- Risk management settings - e.g. profit/loss limits, trailing stop.
- 24/7 online support.
- The ability to perform technical analysis directly on the platform (because any order opening should be based on data received during analysis of the market and the selected asset).
It is possible to connect your account to the monitoring service and receive detailed statistics.
In just a few steps a trader gets a completely automatic tool for statistical analysis: drawdowns, profitability, maximal loss-making and profitable trades, etc.
When choosing a platform, pay attention to the interface of the program. It should be intuitive, and even better if you can modify it according to your needs. For example, place certain elements where it is convenient, hide unnecessary elements, change the colour scheme, font size and signal settings.
Modern online exchanges provide their clients with mobile applications, with the help of which a trader can get rid of an asset or vice versa in the blink of an eye.
The functionality of mobile apps is usually not too different from the web version. A cryptocurrency trading app is also equipped with a quote chart, the ability to deposit/withdraw funds from a balance, and the ability to make a buy or sell order.
Mobile trading provides complete freedom, because thanks to smartphones and tablets, you can buy TRON in Kenya anytime you want.
You can also buy TRX using the classic method by opening a cryptocurrency wallet on one of the trusted cryptocurrency exchanges.
How to invest in TRON in Kenya?
Investing money in cryptocurrency is promising. And if invested wisely, differences in exchange rates allow for good returns. Some people prefer to invest and not worry about short-term fluctuations. Others trade to maximise profits. And there are those who do both at the same time.
It is up to you to choose the right strategy and decide for how long to invest in TRON in Kenya. Strategies can be applied in their entirety, combined or taken from the elements you like. The main thing is to be satisfied with the returns and remain comfortable for the investor.
Here are the most popular investment options.
Long-term investments are of great interest to knowledgeable investors. They are attractive in times of crisis and instability as well as calm times. In the first case, long-term investments allow you to reliably "hide" capital, to wait out the crisis. In the second case, they can not only save money, but also multiply it.
Long-term investments are not affected by short-term fluctuations in the cryptocurrency market and do not require an investor to constantly monitor changes in the market. It is essentially passive income. Your task will be to buy TRX at the lowest price, wait for the coin to appreciate in a few years, and only then sell it. But you should know that long-term investments require a large initial capital, which is not always affordable for first-time investors.
Short-term investments are investments with a time horizon of less than a year. The idea is that you buy a cryptocurrency with the aim of selling it after a short period of time. By and large, short-term investing is a form of speculation, or trading. It is not a way to save, but to make the most of what you can.
Short-term investments protect your money from the effects of inflation. In addition, your capital may grow considerably if the price rises.
Contract for Difference (CFD) trading has recently become more and more popular on online platforms. The essence of these financial instruments is that the trader does not own the asset, but only speculates on price increase or decrease.
CFDs allow traders to make a rather serious profit with a minimum of capital.
Among the most significant advantages of using CFDs in cryptocurrency trading are the following:
- Availability of leverage. As a rule, all CFDs are implemented with a bank leverage from the broker. Accordingly, you can make large profits with minimal financial risks.
- When carrying out a transaction, you do not receive or transfer your own funds to another owner, but only pay or receive the difference in price which has arisen between the opening and closing of the transaction.
- Due to the fact that CFDs were originally designed to reduce the risk for brokers with small capital, therefore the commissions in this case are much lower.
- You can make a profit when the exchange rate falls as well as when it rises. All you have to do is to choose a suitable buy or sell contract.
Whatever strategy you choose, it's important to understand that you need to diversify your portfolio when investing in digital coins. This helps to spread the risks evenly and to avoid going into deep losses if an asset goes down drastically. Diversification will help you guard against the consequences of wrong forecasts and wrong asset selection.
How to start to invest in TRON(TRX)?
Investing is not that difficult. The main thing is to study the literature, attend webinars, etc. This knowledge will help you start making money in the cryptocurrency market. Now almost all online exchanges have educational materials, be sure to take advantage of this offer.
All successful investors and traders started with basics and made mistakes, which by the way will be even useful for gaining practical experience.
These are a few recommendations to help you invest correctly in TRON in Kenya:
- You need to understand the cryptocurrency process. To do this, you need to learn everything about the emergence and placement of virtual assets on an exchange. You can't invest in something you don't understand.
- Familiarize yourself with the online platform you will be using. It should be reliable, secure and with a good reputation. You can test the platform with a demo account and decide if it is suitable for you.
- When starting to invest in virtual money, you should be clearly aware of all possible risks. That is why it is better to place free savings on a cryptocurrency exchange that you don't mind losing.
- Diversify, think through your strategy in advance. Diversification will help protect against possible downside risks of a particular cryptocurrency or asset class.
In order to become a user of an online marketplace, you need to go through the registration process. It will take you a few minutes. On the website of the online exchange, in the "Registration" section fill the special form where you have to enter your valid email and password (make a complex combination for better protection).
Also, you have to confirm your acceptance of the trading terminal rules. Next, wait for the email notification and then click the link to activate your account.
The online exchanges require you to confirm your identity in various ways. This is to prevent fraudulent activity. So be prepared to undergo verification.
The system will ask you to upload a scan of your ID or a selfie so that it matches your face with a photo of your driving licence or passport. The purpose of this verification is to increase the protection of your funds and the security of your account.
To start trading on an online cryptocurrency exchange, besides theoretical knowledge, a beginner will also benefit from practical experience. This is where a demo account comes in handy. Once you complete your registration, it will be available to you absolutely free of charge, for an unlimited time. A demo account is a real trading simulation. You can use it to trade in real time, in a real market. The main difference from real trading is that you will be trading with virtual money, which is provided by the exchange. You will not be able to deposit or withdraw funds. Thanks to the demo account, you will be able to learn all the stages of trading. The trader has the ability to follow the charts, you can buy and sell TRON. The demo mode teaches traders how to keep their emotional state calm and keep a cool mind when things do not go according to plan. You can also try out technical analysis on real market movements.
Depositing a live account follows a standard procedure: select the "Deposit" tab and transfer funds to the specified deposit address.
The minimum deposit amount requested by the trading platform is really small. But if you have a desire to deposit a larger amount, it is easy to do. Please note that the minimum deposit amount is available to any participant and is a few dollars. There are several options on the platform to deposit, choose the one that suits you best. Most often, the platforms offer debit/credit cards and various e-wallet options. There can also be bank transfers.
Once the money you deposited is available for use, you can buy TRON(TRX).
Withdrawals are made in the same way. You create an application form, pay for it, enter your details to receive the funds. This may take some time, it all depends on the system you choose.
Security of investing in TRON(TRX)
Buying TRON (TRX) is safe. You can safely buy this coin as it has a strong development team behind it. TRON(TRX) is often chosen by professional investors because it has a good reputation worldwide and its development plan is set for 10 years ahead (which is a guarantee of reliability). And this is a good sign.
As for the company, it spends a lot of effort and money on project security.
The TRON blockchain network is secured using the Proof-of-Stake algorithm. The platform uses smart contracts in its operation, which guarantees the security of transactions.
Is it safe to invest in TRON online?
Today's trading platform takes security very seriously and when registering a new account, customers are asked to set up two-factor authentication (2FA). 2FA is an extra layer of security, every time you want to log into your personal account, exchange or withdraw funds, the system sends a special code to your mobile phone.
You are also advised to use a strong password and change it regularly.
That's the end of our review. We hope it helped you understand the issues of investing in TRON.
Be successful and have more profitable trades!