Best crypto exchanges for TRON (TRX)

November 1, 2019   TRON

TRON (TRX) is one of the most popular and largest cryptocurrencies in the entire crypto industry, currently holding the position of the 10th largest coin by market cap. At the time of writing, its market cap is at $1.38 billion, while its trading volume is significantly higher, sitting at $66.68 billion.

TRON's great usage does not only come from its role in crypto trading, but also from its dApps, many of which are dedicated to activities such as online gambling. Even so, the coin is one of the most used digital currencies in the industry, and any new trader or investor to the crypto space should know which are the best exchanges for trading this coin. That is why we have created a list of top exchanges for TRX.

Binance


Binance is a crypto-only exchange which is currently headquartered in Malta. It lists numerous altcoins, with TRX, of course, being among them. What all of this means is that TRX cannot be purchased on Binance with fiat currencies directly. However, it can be bought with Bitcoin, Ethereum, and other coins against which it is paired.

Once you have your coins — such as BTC or ETH — delivered to your Binance account, you can simply enter a limit or a market order on the bottom of the TRX pairing page. This allows you to buy as much TRX as you wish in exchange for the altcoin that you had deposited in your Binance account.

Making market orders is simpler than making limit orders, which is why they are recommended for newcomers to the crypto industry. Limit orders allow for numerous other options, such as specifying conditions under which the sale will take place. Binance is one of the largest and most popular exchanges around the world, although it can be complicated for new investors due to all the different tools it features.

On the other hand, it also has low trading fees (0.1%), as well as good security, although many are questioning this due to a hack earlier this year.

Bittrex


Like Binance, Bittrex requires you to own cryptocurrency that is paired against TRX, and Bitcoin is likely the best option. After you deposit your funds to the Bittrex wallet, the instructions are pretty similar to those for Binance.

Bittrex is based in the US, and it became quite popular in recent years. It is a relatively old exchange with strong security, decent speed, and great stability. One downside is that it might suspend accounts without any previous notification or warning, and the customer support is generally not that great.

It lists a decent number of altcoins, it has slightly higher trading fees, although many still consider them average, and it is available in most countries around the world, which allows for great liquidity.

Bitfinex


The last on our list is Bitfinex, a Hong Kong-based exchange that is also one of the oldest ones in the industry. The exchange was founded in 2012, and it offers a good number of altcoins. The exchange's past is long, but also troubled. It suffered hacking attacks, as well as some allegations, although the fact that it is still used and highly popular likely makes it relatively safe.

It offers a number of services, like advanced trading, margin trading, OTC services, and alike. Unlike the other two on this list, Bitfinex accepts fiat deposits, meaning that you might be able to buy coins directly with fiat. Alternatively, you can deposit your money to the exchange, buy USDT or another token with multiple trading pairs, and then purchase the coin you need — in this case, TRX.

As for fees, it has 0% maker fees, 0.2% taker fees, 0.1% deposit and withdrawal fees, and free crypto deposits for amounts that exceed $1,000 in crypto.

Author: Ali Raza for Crypto-Rating.com
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