Tron Wallet review 2021 | Experience and costs of the Tron Wallet!
Do you want to keep your Tron safe? For this purpose we use cryptocurrency wallets in which your tokens or coins are protected. One of these wallets is the Tron wallet, in this article we explain everything about how you can invest in Tron and how you can store Tron!
Using Tron Wallet - a step-by-step plan
1 - Choose a broker: Search for a cryptocurrency provider (one of our favourites is eToro).
2 - Deposit money: Add money to your account so you can start immediately.
3 - Choose Tron: Select Tron, or another crypto supported by the Tron network from the list.
4 - Store in your Tron Wallet: Store your purchased coins in your Tron Wallet.
Do you have enough knowledge to start using cryptocurrency? Then press the green button and start right away!
Want to know more about the Tron Wallet? Then read on, because we will tell you what it is and how to use it. In addition, we will guide you with an extensive roadmap.
What is the Tron Wallet?
The company Tron is a decentralised blockchain where people can share their media content and develop applications. In order to get access to this you need a Tron token (TRX-token)
Because online media plays an increasingly important role nowadays, experts expect that investing in Tronix could be a good choice.
The company Tron was founded by Justin Sun in 2017. Its main purpose was to allow content creators and entertainers to come together in a network without an intermediary.
Through this Tron blockchain, users can directly pay the author for his work. This can be done through the currency of Tron, called 'Tronix'.
All the tronix you receive or pay out are stored in the Tron wallet. It is also possible to place other cryptocurrencies in the Tron wallet, as long as they are supported on the Tron network.
So the Tron wallet is a crypto wallet. There are different kinds of wallets developed by Tron users, we will come back to this later in the article.
How do I use a Tron Wallet?
If you are interested in one of the Tron wallets, they obviously need to be filled. Below we explain step by step how you can invest in cryptocurrency in different ways.
We will also explain how you can transfer your purchased cryptocurrency to the Tron wallet. Make sure it is always supported by the Tron network, otherwise the wallet will not accept the crypto.
Step 1: Choose an online broker
Step 4: Choose and buy Tron
Step 1: Choose an online broker
To buy cryptocurrency, you need an online broker. Fortunately, the market offers different types of crypto brokers and exchanges that you can choose from.
Each broker differs in several aspects, such as the crypto they offer, what tools they provide and the costs they charge per transaction.
Choose the right broker at the same time so you don't have to change brokers later on. This will cost you a lot of time and effort, which you can better spend on researching your own or even a new interesting coin.
One of the most popular brokers in the world is eToro. At this broker, you can invest in all kinds of different trading products including cryptocurrencies.
At eToro, you can choose from almost 30 different cryptocurrencies, and new coins are regularly added!
You can also trade stocks, indices, currencies, ETFs and CFDs! Moreover, buying and selling shares and ETFs is at 0% commission.
Investing is possible from a low starting amount of $50 (€42). Want to practice first? Then eToro has a free demo account with 50,000 in virtual money for you to learn trading.
As a beginner, you can also do well at eToro, even if you ngo have little knowledge about cryptocurrency. There are handy guides, the demo account and you can also make use of copy trading. Here you can select and imitate the investments of experienced users of eToro who perform well.
Create an account at the broker eToro today and start investing in different cryptocurrencies in no time!
You can also invest in crypto in the form of CFDs. This is possible at Libertex.
CFDs are popular because you do not buy the crypto currency itself, but you only enter into a contract about the price development. The advantage of this is that it is easier to bet on a drop in the price and earn from it, and you do not have to store coins in a wallet.
The disadvantage is that you do not own the coins yourself and you cannot move them around. CFDs are therefore more suitable for short-term price movements.
Libertex also has CFDs on various other assets such as shares, commodities and currency. Investing is safe, simple and can be done from as little as €100! It is regulated through CySEC, a well-known financial authority.
Create an account with Libertex and start investing in cryptocurrency in no time!
Another place where you can go to buy Tron is Bitvavo. At this crypto exchange, you can also buy and sell dozens of other cryptocurrencies.
Bitvavo is praised for its simple and user-friendly platform and the low costs it charges its customers. It also complies with the strict legislation for companies active in cryptocurrencies.
Bitvavo was one of the first companies to be approved by the regulators, the Financial Markets Authority (AFM) and the Central Bank (DNB).
Is Bitvaro interesting for you? Create a new account easily and for free at this broker and start buying crypto coins.
Another crypto exchange where you can start is Binance. This exchange has grown to become the largest crypto exchange in the world.
This popularity didn't just happen to Binance, it was already one of the first exchanges active in the market and has also had the largest supply of cryptocurrencies for years. For example, you can only go to Binance for many smaller coins.
Binance also has many additional features, such as the ability to store purchased coins in a wallet. So you can also store the Tron you bought at Binance or elsewhere in the Tron wallet at Binance itself.
Is Binance something for you? Take a look at the platform, create a new account and start using the demo function or deposit money immediately to trade in crypto.
Step 2: Create an account
Time to create an account at the broker or crypto exchange you just chose. Most brokers and exhanges require you to take the same actions, so in this example we will look at the broker eToro.
You simply create an account with your email address and password. You can then immediately use the free demo account that you get at eToro.
To get started with the real account, you first have to prove to eToro that you are behind the account. You do this by sending a copy of your ID and filling out a questionnaire.
Step 3: Deposit money into your account
As soon as eToro has approved your proof of identity and the questionnaire, you will receive an e-mail from the broker. You can then start with your real money account.
Of course, this must first be filled before you can actually make investments. Depositing money at eToro can be done easily via a digital payment method such as iDeal or PayPal, or by using bank transfer or credit card.
Step 4: Choose and buy Tron
If you deposit money via iDeal or PayPal, it is immediately in your account and you can start with your first cryptocurrency purchase. In this case, we are going to look for the coin TRON.
You can find this coin by using the search bar at the top or by filtering all cryptocurrencies. Then you can click on TRON to go to the market.
If you are at that market you see the latest Tron price and the possibility to buy the coin immediately. Once you press buy you get the next screen with a number of options and you can also confirm the transaction.
Step 5: Store your newly purchased Tron in your Tron Wallet
Now it is time to properly store the purchased Tron. If you have followed the example and also started at eToro, you should look for a good Tron coin wallet to store the coins safely.
If you have a Tron Wallet, you can send the coins to the address of this wallet, always make sure that you use the right address. You can also use the Tron wallet of eToro itself by leaving the coins on the exchange, but this is less secure.
How can I create a Tron Wallet?
Tron offers a wide selection of wallets that can be supported via various devices. It is possible to use the wallet via desktop, mobile or even a physical device.
The choice you make depends on your preferences and usage. Each has its pros and cons, and some are slightly more secure than others.
We will take a look at the different Tron wallets together with you. But first two important notions.
Crypto wallets are often divided into a number of categories. They do this to make it easier for you to make a choice, a kind of filter actually.
The two most important ones are hot and cold wallets. Where you can see a hot wallet as a wallet with convenience, you can see a cold wallet as a wallet with better security.
Creating a hot wallet
A hot wallet actually refers to a storage that is in constant connection with the internet. You can think of the desktop or web browser version.
The most common wallets are also hot wallets. This way you have quick access to your cryptocurrencies, which makes it very accessible.
The mobile app can also be seen as a hot wallet. The app is often used to trade tokens and coins on a daily basis, which makes them very popular.
In addition to that you can also use them for free and they are very user-friendly for beginners. This in combination with the accessibility of the hot wallet, makes it very interesting.
There is also a downside to this. Because you are connected to the internet, it is very easy for hackers to get into it. A crypto wallet is a jackpot for a hacker, so a hot wallet is definitely interesting for them.
Create a Cold Tron Wallet
On the other hand, we have the cold wallets, which are more about security and privacy. We saw that the hot wallet is rather vulnerable to hackers, so the cold wallet is the solution for that.
The cold wallet can also be seen as the hardware wallet or a paper wallet. Although a paper wallet is not very safe because you can easily burn it or something like that.
So it is really a physical thing that is separate from the computer or laptop. It is not connected to the internet, which makes it much safer.
But one good turn deserves another, because the cold wallet also has its disadvantages. A cold wallet does not accept all cryptocurrencies, which means you probably need to have several physical devices at hand, which is not very practical.
Besides that, the average price of a cold wallet is 100 euros and it sometimes takes time to transfer everything to your wallet. The exchange of different cryptocurrencies goes a lot slower here.
Enthusiastic about trading Tron? Create an account at eToro to start trading!
Different Tron TRX Wallet
However, hot and cold wallets are two overarching terms within the different Tron trx wallets. Now that you know what these two terms mean, we can go a little deeper into explaining the best tron wallets.
Before we continue, we will give a short explanation of the meaning of the desktop wallet, mobile wallet and hardware wallet.
Do you already know what these terms mean? Then go straight to the best tron wallet.
The desktop wallet can be used via your laptop or computer. These are easy to download and install via the TronLink website, in the software you can then create your Tron wallet.
On this decentralized tron trx wallet you can put your private key and TRX and TRC-10 and TRC-20 tokens. These are the tokens that are present on the tron blockchain.
Because this wallet is connected to the internet, you can consider it as a hot wallet.
You can easily download the mobile crypto wallet of Tron through the App Store, Google Play or Android. It is called Trust Wallet for TRON (TRX) and also works with various crypto-tokens.
Because it is a mobile Tron TRX wallet, you can also see it as a hot wallet. You can easily, through the internet, receive, send, store and exchange crypto tokens.
The advantage of a mobile wallet is that you can have it with you at any time, anywhere. This way you can always keep a live eye on your crypto portfolio, for people who always want to manage their Tron, this is the best Tron wallet.
Where we just talked about the two hot wallets, we will now talk about the cold wallet. Cold wallets are hardware wallets that involve a physical device that is not connected to the internet.
You can place your investments on this hardware wallet and you need your own login codes so no one else can access your cryptocurrency. A well-known term for hardware wallets is the ledger, here you only need to download an application to create a tron wallet.
With a hardware wallet it is possible to securely store different cryptocurrencies, receive payments, send different cryptocurrencies, it is possible to use 2-factor authentication and some hardware wallets can strike your cryptocurrency.
A 2-factor authentication ensures that you can use an additional verification when logging in, so your data can be protected even better.
Is it only important for you that your tokens are kept safe, and does the extra time this takes not matter to you? In that case the hardware tron wallet is more of an option for you.
Best Tron Wallet
Below we will list the four best Tron TRX wallets. To keep it accessible for everyone, we have made a selection in which both hot and cold wallets are discussed.
Ledger Nano X
- Supports more than 1500 cryptocurrencies and tokens
- Extremely secure, every action requires a pincode
- Larger screen than the Ledger Nano S
- Can be used with a mobile device
- Supports multiple languages
Ledger Nano S
- Supports many cryptocurrencies and tokens, but less than Ledger Nano X
- User-friendly, perfect for the beginning TRX trader
- Safe and reliable
- Cheaper than the Ledger Nano X (€59,99 instead of €129,99)
- Exclusive mobile wallet for storing your tron coin wallet
- Always access to your wallet, wherever and whenever you need it
- Besides Tron, it is possible to hold even more crypto assets
- Free and user friendly
- Less secure
- Known among many traders
- Wide selection of cryptocurrencies pairs
- Very reliable
- Two factor authentication
Why choose the Tron Coin Wallet?
The Tron Coin Wallet is available on various devices. You can choose between a desktop, mobile and hardware version to store your crypto.
This possibility makes it very interesting to purchase the Tron Wallet. This way you can choose which wallet suits you best, after all it is best to use the same wallet for a long time.
All Tron coin wallets have the advantage that they accept a lot of cryptocurrencies besides the TRX coin. For a trader who trades in multiple crypto, the Tron coin wallet is a very good choice.
The biggest coin at the moment is Bitcoin. Do you already own Bitcoin? Good news, you can also store it in the Tron wallet.
Have you been thinking about investing in Bitcoin for a while but don't know where to start? Take a look at one of our recommended online brokers.
Ready to start investing in TRX? Start trading Tron at eToro now!
Tips before using the Tron Coin Wallet
Before you receive or send cryptocurrency, it is always important to copy the addresses so you know for 100% that the address is correct.
The Trust Wallet is a mobile version and can be easily downloaded from the app store. If you only have a small storage of tokens, you could still easily use the hot wallet.
The costs of a hardware wallet are very expensive. So try out the platform and the tokens first before buying an expensive hardware wallet.
Tron Wallet Review: Frequently Asked Questions
A Tron Wallet is a digital wallet in which you can safely store the Tron coins you own. Tron wallets come in all kinds, you can download software, use a smartphone app or choose a hardware wallet.
If you want to speculate on the Tron price and earn as much money as possible in the short term, the broker eToro is the place for you.
Depending on the Tron Wallet you've chosen, there are a number of extra functions you can use. For example, with the hardware wallet Ledger, you can use your coins in the Tron wallet for the blockchain network and earn rewards that way.
Every wallet has its own address where you can send your coins. Be aware that if you enter the wrong address, you will most likely lose the coins. Besides that, you can't just send all coins to a wallet, check if the coin you want to send is accepted by the wallet.
Tron Wallet: Conclusion
If you are going to invest in cryptocurrency, there is a lot coming your way and the storage of the coins you bought is one of the important things you need to take care of properly. To properly store your purchased Tron, you can use one of the Tron Wallets mentioned in this article.
Creating a Tron wallet is done differently by the different services that offer wallets. The hardware wallet Ledger only allows you to create a Tron Wallet if you have installed the application for it.
Do you want to buy cryptocurrency like Tron? Then eToro is the best place to trade cryptocurrency, this exchange is ideal to start trading crypto and to safely store it in a wallet.
Do you want to fill your Tron Wallet?
Tron wallet does not only accept TRX, but also a large number of other cryptocurrencies!