TRX in Naira; Have you heard about the TRON network currently making waves in the crypto sphere? If you haven’t, then this article is for you. In this article, you will find out everything you need to know about it, how it works, and its equivalence in naira.
What is TRON (TRX)?
The TRON network was founded in September 2017 by a non-profit Singapore-based foundation, the TRON Foundation, headed by H.E. Justin Sun. The network uses blockchain technology and Decentralized apps (DApps) to further decentralize the internet and take away control from the government. Since the launch of its mainnet in May 2018, the network has kept up its excellent performance.
The TRON network is continuously progressing in its quest for decentralizing the internet. It is evident in their acquisition of BitTorrent in July 2018. BitTorrent is a pioneer in decentralized services with close to 100 million monthly active users. Soon after its acquisition, BitTorrent was integrated into the TRON ecosystem. Additionally, TRON, which surpassed Tether on Ethereum in April 2021, contains the largest global circulating supply of stablecoins. The 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), JUSTt (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.
How much is 1 Tron in naira?
The current market capitalization of TRX is $10.62B uSD, with a circulating supply of 88.10B 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 value of one Tron (TRX) is NGN 171.85. If you were to exchange any amount of Tron in your possession, all you have to do is multiply the value by NGN 171.85 or you can use the Astro Africa rates calculator for ease.
How much is 1000 TRX in naira?
The current price of 1000 TRX in naira is 171,850. Keep in mind that the value of crypto is volatile, and this price can change at any time. Use the Astro Africa rates calculator to calculate the current value of all your cryptocurrencies as it is constantly updated.
What are the benefits of TRON (TRX)?
Here are some benefits of TRON.
Staking
As a user, you are eligible to participate in a selection of raffle draws by holding and staking TRX. The platform allows content creators to receive payments for their content while maintaining total control of their work.
Cheap transaction fees
Not a lot of platforms can boost or provide their users with cheap transaction fees. To make transactions cheaper on the TRON network, the creators decided to make the transaction fee affordable. The transaction fee on TRON’s decentralized digital platform is as low as $0.000005.
Speed
If you are looking for speed, TRON is the network for you. Transactions on the TRON network happen quickly because it supports up to 2,000 transactions per second. In comparison, Bitcoin boasts three to six transactions, and Ethereum permits 25 transactions. Also, in terms of trading, you can trade TRX coins24/7 without platform interruption.
Where can I buy TRX?
Before buying TRX coins on any platform, make sure you do thorough research to prevent losing your money to cheap scammers. On platforms like Liqui and Binance, 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 preferable. You can also keep it on MyEtherWallet (MEW).
Best place to sell crypto in Nigeria
Astro Africa is the best place to sell your crypto in Nigeria. Astro Africa allows you to trade Bitcoin 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 exploited 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.
Read also: How much is 1 Ethereum in naira?
