How much is TRX in naira; Cryptocurrency began as a finance trend and has since established itself as one of the most profitable investment vehicles in the world. There are over 20,000 crypto tokens in the digital market today, thanks to the success of Bitcoin. With cryptocurrencies gaining ground, more crypto tokens will be created for different purposes. One such token is TRX, the indigenous token of the Tron network, which is the main focus of this article.
What is Tron?
Tron is a blockchain platform created to change how content is shared, distributed, and consumed online. The network has been able to decentralize the internet through its innovative contract applications, high scalability, and high availability on DApps. The TRON network became a wholly community-governed decentralized automated organization (DAO) in December 2021 after decentralizing fully.
TRX, also called TRONIX, is a mainnet token based on the TRON Protocol. The token serves as a fundamental unit of accounts. TRON might not be as highly valued as Bitcoin or Ethereum, but it has a promising future in the crypto community. Other tokens on the TRON network include BitTorrent (BTT), JUST (JST), and USD Coin Tether (USDT). All TRC-based tokens naturally use TRX as a medium of exchange. With several application scenarios that drive transactions and applications on the chain, TRX unites the whole TRON ecosystem.
What determines the price of TRX?
Several factors affect the value of TRX. Because of these factors, the value of TRX is never stable. These factors are listed below.
- Demand and supply of Tron
- Number of investors
- Politics and banking regulations
- Tron’s utility
- Market manipulation.
- Social media, speculations, and sentiments (3S)
How much is TRX in naira?
The current market capitalization of TRX is $10.62B USD, with a circulating supply of 88.10B of TRX reached its highest price on Jan 5, 2018, when it was trading at its all-time high of $ 0.302062. Since the bear market of 2021, the prices of all cryptocurrencies have reduced drastically, and TRX was affected.
The current price of 1 TRX is 0.120483 USD which is equivalent to 162.65 naira. Keep in mind that the value of crypto is volatile, and this price can change at any time.
Can Tron be mined?
For most cryptocurrencies, gaining access and owning them as an asset would automatically mean mining them. Mining is the process whereby new units of crypto are created. While it is so for most cryptocurrencies, it is not the same for Tron. Tron cannot be mined because it runs on a particular type of Proof of Stake (PoS) model. However, users can stake, perform, and complete transactions without mining.
Where can I buy TRX?
Before buying TRX coins on any platform, do thorough research to prevent losing money to cheap scammers. TRX is not as popular as Bitcoin or Ethereum, so it is not listed on many exchange platforms. You can buy TRX on Liqui and Binance, where you can trade TRX for either ETH or BTC. However, if you are a new user, you can purchase BTC or ETH on Bitstamp or Coinbase and deposit it to their respective wallets on Binance.
Where to store TRX?
There are two types of crypto wallets, namely hardware and software wallets. Since TRX is an ERC-20 token, Storing your TRX assets on hardware wallets that support the Ethereum blockchain, such as Ledger Nano S and Trezor, is always preferable.
Best place to sell Tron in Nigeria
Astro Africa is the best place to sell your crypto in Nigeria. Astro Africa allows you to trade Tron for cash at the best rates and get paid immediately. The platform is easy to use, with a user-friendly interface that makes navigation seamless. In terms of security, your assets are always safe with Astro Africa as we exploit the best security technologies to ensure that your assets are never prone to hacks by unauthorized third parties. To get started, visit the Astro Africa website or download the app from Google playstore or the App Store.
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