Adding Tron to your investment portfolio is a good choice.
Tron coin is a cheap Altcoin cryptocurrency that has great potentials as platform for creating decentralized applications that use TRX currency.
If you would also like to know about some other cheap coins to investment in right now, then you can read this article on best penny Altcoins with potentials.
In this short guide, I’ll show you the best most popular ways to buy the cryptocurrency with Naira, while you’re still in Nigeria.
How to buy Tron (TRX)
Buying this crypto-coin is very easy, but at the same time, still not all that straightforward par say. You will need to acquire Bitcoin and then exchange it over for Tron.
Just follow through this process below to avoid making any mistake that may cost you a fortune.
- Visit LocalBitcoins marketplace
- Purchase Bitcoins from a vendor
- Find an exchange (e.g. Binance – Read review)
- Swap BTC to TRX on the exchange
- Get a Tron wallet (e.g. Ledger – Read review)
- Locate your Tron wallet address
- Withdraw the coins to your wallet.
It’s that simple… congratulations!
You’ve successfully bought your first Tron (TRX) from an exchange, while you are still in Nigeria.
Now to maintain high security of this investment, you really have to withdraw the cryptocurrency coin to an offline crypto wallet.
Should in any case Binance did not work for you, then checkout other reliable cryptocurrency exchanges to convert Bitcoins to Tron.
Best ways to buy TRX
In Nigeria, to buy cryptocurrency just became a bit hard, since the CBN (i.e. Central Bank of Nigeria) banned banks and other third-parties from cryptocurrency transactions.
If you are looking for the best options to safely purchase your desired amount of Tron coin online, then you must have to adhere to these exchanges.
Binance is arguably the best place to buy Tron. Although launched in 2017, it has quickly established itself as one of the most popular crypto exchanges.
Binance (Most recommended)
Binance is a first-rate exchange for experienced traders who are looking for a respectable cryptocurrency marketplace to perform real-time trades.
With over 166+ cryptocurrencies available, both beginners and advanced traders have a myriad of tools and pairs available to them within one powerful trading platform.
Binance accepts deposits in over 50+ currencies including USD, EUR, JPY, KRW, GBP, AUD, RUB, and many more.
Binance charges a trading fee of just 0.1%. Interestingly, this fee can even be reduced further, by using the BNB coin (Native crypto-coin) to pay transfer fees.
To get low withdrawal or transfer fees on Binance, I would recommend you read my guide on how to reduce Binance transaction fees.
It also charges a withdrawal fee of $1-5 depending on the crypto-coin that you are withdrawing. These low fees make Binance a great option.
Pros
- Trustworthy management
- High volume exchange
- Low transaction fees
- A large number of crypto pairs
- Global support.
Cons
- Few payment options.
CoinSwitch
Using CoinSwitch exchange aggregator, you can buy Bitcoin without ID, but that’s because you need to have Altcoins already.
If you already have an Altcoin (like Litecoin, Ethereum etc.), then you can buy Bitcoin in seconds with no ID verification and account registration.
Pros
- Fast
- Low fees
- High exchange limits.
Cons
- Partially private
- Limited payment methods.
Changelly
Changelly is an instant exchange that supplies the best live rates on the market for every pair. The interface is colourful and simple to use.
The cryptocurrency transactions on this exchange platform are performed instantly and smoothly, without having to search through numerous exchanges.
Changelly accepts USD, EUR, and GBP for buying cryptocurrency.
Pros
- Fast
- Private
- Low fees
- High exchange limits
- 24/7 live chat support
Cons
- Limited payment methods.
CEx.IO
CEX.IO is a multifunctional cryptocurrency exchange that is trusted by millions of customers worldwide and allows users to buy bitcoin with a credit card or debit card seamlessly.
This cryptocurrency trading platform was founded by Oleksandr Lutskevych, Dmytro Kalynovskyi, Victoria Polyakova and Peter Ivanov.
CEX.IO boasts multiple payment options (SWIFT, SEPA, ACH, Faster Payments), 24/7 customer support, and proven platform stability.
It accepts deposits in USD, EUR, GBP, and RUB.
Pros
- Established and trustworthy
- Supported worldwide
- Low transaction fees
- Simple credit card purchases
- Clean user interface
Cons
- Verification procedure requires private information
- Lengthy verification time
FAQ
Below are my candid answers to some of the frequently asked questions you will find online, while researching on how to buy Tron cryptocurrency coin.
Is Tron a good investment?
Tron has certainly captured the interest of many investors. However, it’s still not being adopted as Bitcoin and Ethereum, so there’s a long way to go.
It’s also one of the harder Altcoins that are very cheap to buy, since not many popular crypto wallets in the market supports it.
Conclusion
I hope the information in this guide gave you a clear overview of the process involve on how to buy Tron online with Naira.
If you follow the guide, by now you will be able to buy TRX, and also transfer it into a secure hardware cryptocurrency wallet (like; Ledger Nano X/S).
Storing your Tron tokens on a cryptocurrency exchange isn’t recommended because exchanges can be hacked, or even shut down.
Even smaller issues such as scheduled maintenance of an exchange can prove problematic.
Once you found your exchange, signed up, and made the trade, make sure to withdraw the TRX to the Tron address you got from your offline wallet.
