Ready to start investing in TRX? Below are the steps involved.
STEP 1: Buy Bitcoin (BTC) or Ethereum (ETH)
The main crypto exchanges that allow direct credit-card purchase of crypto-currency currently do not list TRX. A 2 step purchase process is thus required. You first need to buy Bitcoin or Ethereum from a site that allows you to purchase these with your credit card. A popular first point of purchase website is Coinbase.com which allows you to setup an account for free and then purchase Bitcoin and Ethereum. The reason many people buy Ethereum instead of Bitcoin as a currency with which to then go on and buy TRX is because Ethereum transaction times are usually faster than Bitcoin’s. Depending on your location though, you may not be able to use your credit card on Coinbase. Luckily there are other trusted websites such as Luno.com that caters for quite a few countries in Africa and South East Asia.
Also be sure that you are purchasing the correct currency as some currency symbols are similar to each other. For example Ethereum is ETH while Ethereum Classic is ETC.
STEP 2: Exchange Bitcoin (BTC) or Ethereum (ETH) for Tronix (TRX)
Once you have purchased your initial BTC or ETH you need to send your coins to a wallet on an exchange that allows you to buy TRX. This means you have to now sign up on a second exchange. The most popular exchange for purchasing TRX and the one that we recommend is Binance.com
Once you have created your account on Binance, you should go to the Binance wallet of the currency that you purchased on the first website. For example, if you bought ETH, find your ETH wallet on Binance and copy the wallet address. Then go to the first website and go to “send”. You will be prompted to enter the ETH wallet address you want to send your funds to. Fill in the details including the amount, make sure all details are correct and send. It may take anywhere from a few minutes to a few hours but your ETH will land in your Binnce ETH wallet. Now that you ETH is on Binance, go to the Binance “exchange” tab, select “Basic” and find the ETH / TRX exchange. This is where you can use your ETH to buy TRX.
STEP 3: Store your Tronix (TRX)
TRX can be stored on a Ledger Nano S hardware wallet although feedback we received from members of the TRX community suggests that most holders are comfortable storing it with Binance.com at least until TRON releases their own wallet which is scheduled for the second quarter of 2018. Always be sure to keep your login details stored in a safe place. It is also recommended to activate 2 step Google authentication for an extra layer of security when making transactions on the above websites.