TRON

Where to buy TRON (TRX) cryptocurrency in Australia

What is TRON, where to buy it and how to store it.

TRON aims to create a fully decentralised Internet by facilitating a fully functional user-centric ecosystem.

It was built in response to the perception of users losing control of the Internet, under arguments that social media giants, advertisers and other large sites have taken control and that content creation is motivated purely by profit, rather than artistry or real entertainment.

Its prices shot up at the start of 2018 to reach a market cap of almost $5 billion. Ironically, this enormous increase was mostly due to its announcement of new corporate partnerships.

TRON’s dream of a decentralised Internet, free of pure profit motivations might be a long way off, but there’s no denying that the value of the coin is skyrocketing.

This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Where to buy TRON in Australia

Name Product Payment Methods Available Fiat Currencies Available Cryptocurrencies
Cash, BPAY, POLi, Cryptocurrency
AUD
BTC, BCH, ETH, XRP, ADA, XEM, LTC, XLM, MIOTA, TRX, DASH, NEO, XMR, EOS, QTUM, BTG, LSK, ETC, XVG & over 45+ more
CoinSpot is an Australian marketplace that allows you to easily buy, sell or exchange multiple cryptocurrencies using AUD.
Cryptocurrency
BTC, XRP, USDT, ETH, NEB, XVG, TRX, NEBL, ETH, NEO, FUN, ETC, BCC, POE, DASH, ELF, ICX, BNB, ZRX, APPC & 80+ more
Trade 60+ cryptocurrency pairs on this up-and-coming exchange based in China. Multi-language support.
OKPay, PerfectMoney, Yandex Money, Payeer, QIWI, Cryptocurrency
USD, EUR, RUB
BTC, XRB, ETH, DCN, BCH, NIO, TRX, DASH, COB, DOGE, PRIX, DSR, XCPO, LTC, VERI, LOC, NUA, PKT, PPT, ICO & 80+ more
Supporting over 100 coins, you can exchange a variety of cryptocurrency pairs on this peer-to-peer platform.

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How does TRON work and what’s it all about?

TRON is all about creating a social-user ecosystem, centred around content creation and having creators interact directly with consumers.

The idea is to cut out expensive intermediaries who take profits and sites that treat their users as fodder for advertisers.

It also uses the blockchain to add transparency to the idea of popularity. Rather than having manufactured superstars, it lets everyone see what’s actually popular rather than being pushed forward by record labels or other brands that manufacture celebrities.

It does this by putting a direct line between creators and consumers, while taking steps to ensure a lively and healthy ecosystem.

To this end, TRON developers have created a formula that determines creator rewards. This reward system takes into account the following:

  • Creation. Simply creating content and thereby contributing to a healthy ecosystem is enough to earn rewards. More regular contributors will earn more rewards.
  • Popularity and engagement metrics. Likes, shares, comments and other signals of user engagement or enjoyment will increase the rewards for content creators.

It also plans to offer tools to facilitate content creation, for example, by letting developers use the platform to create games specially designed for TRON or offering a range of new communication channels between users.

The TRX token is the native currency of the TRON ecosystem. It will essentially be mined by content creators, with their mining rewards being based on the quality of content they produce.

TRON’s stated goals include becoming the following:

  • A high-quality content hosting platform
  • A social network that provides a link among all users
  • A digital currency to bridge users
  • A payment network
  • An autonomous ecosystem

TRX owners will also get voting rights on the platform's management and decision-making. The goal is to encourage people to hold TRX for the long run, which could help shore up the currency’s value against inflation.

TRON developers expect that the entire process will take about 8-10 years to achieve.

What to consider before purchasing TRON

As an idealistic project, TRON will inherently fail. Despite the promises of the blockchain, bringing the Internet’s content under the TRON umbrella will only centralise it, rather than decentralise it.

And even if TRON does manage to accomplish its ambitious goals, advertisers and existing media giants will simply migrate over to TRON in order to keep capturing an audience. In practical terms, there’s nothing inherently decentralised about TRON, despite its aspirations.

Some aspects of the reward algorithm are geared towards penalising click-farming or other manipulation, but there’s no actual way to prevent native advertising, crowd manipulation or ugly mob mentality in the TRON ecosystem.

At a glance, the entire project might have little to recommend it, but looking at it from a more mercenary angle shows a different view.

Despite all its talk of decentralisation, TRON aims to become a centralised content creation tool, hosting platform, social media giant and payment network all in one. This is an exceptionally lucrative and challenging business plan.

TRON’s idealism and talk of decentralisation can be considered a branding exercise and a way of cushioning the impact from its ongoing development of corporate partnerships.

But is it enough? Functionally, TRON has little to offer other than a unique reward algorithm for content creation. Almost any cryptocurrency can offer similar transparency and be used by consumers to directly reward content creators.

If TRON succeeds, it will be based on the strength of its business chops and on its ability to disrupt the giant social media and online content platforms.

If it succeeds, purchasing TRON today might be like buying cheap Facebook shares. If it doesn’t succeed, then it will be about as useful as buying Dogecoin.

How to sell or trade TRON

  1. Find out which exchange platform you have your TRON in and visit that site. If your TRON is in a digital wallet, sell it by picking a platform from the list above.
  2. Transfer your TRON to bitcoin or Ether within the platform.
  3. Go on to follow the steps to sell or trade your bitcoin or Ether.

Andrew Munro

Andrew writes for finder.com, comparing products, writing guides and looking for new ways to help people make smart decisions. He's a fan of insurance, business news and cryptocurrency.

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