Before u can start playing DApps or trading Tron tokens. The first thing u should do, is to buy some Tron (TRX). Lucky, there are a lot of ways to buy Tron at the moment. Tron is currently listed on a long list of exchanges, also the major ones like Binance and Kucoin. Exchanges are the platforms where u can trade different types of currencies. U can buy TRX there with other currencies like Bitcoin (BTC) or Ethereum (ETH). So the first option is to buy Bitcoin and send it to Binance, so u can trade BTC to TRX on Binance and send it back to your Tron wallet.
Another option is to buy TRX with your own national currency like EURO or USD at a broker. A Brokers is a platform where u can buy coins, without the option to trade. Brokers buy their currencies and sell them with fee to users. Currently there are only a few brokers that listed TRX on their platform. It’s important to check if the Broker supports your country and the payment option that u want to use.
- Option 1: Buy TRX on a Exchange: Buy Bitcoin at a Broker and trade this on a exchange to TRX.
- Option 2: Buy TRX at a multi-asset broker: Buy TRX with your national currency on a multi-asset broker, where TRX is listed.
List of Tron Brokers
|Name||Minimum Amount||Payment Options|
|BitLadon||9 EURO||iDEAL, Sepa, Giropay/Sofort, Mybank, Bancontact|
|Litebit||No minimum||iDEAL, Bancontact, Giropay/Sofort, Sepa|
Since not everyone has a creditcard or can use iDEAL in his or her country. I will explain option 1 in this step-by-step guide because everyone can follow this steps in any country. First we’re going to buy BTC at Coinbase and send the Bitcoin to Binance to trade it there for TRX. Let’s get started.
What do I need before I can start buying Tron (TRX)?
- A Tron Wallet: To safely store the TRX that we’re going to buy, u can find all the information about Tron Wallets here.
- Binance account: U will need a Binance account (or a account on a other exchange) to trade the Bitcoin to TRX. Setting up a Binance Account takes only a few minutes and is very easy. Start here.
- Coinbase Account: U will need a Coinbase account to be able to buy your Bitcoin with your national currency. How to setup a Coinbase Account is described below.
How to buy Tron by using Coinbase and Binance?
A. Setup a Coinbase Account
Step 1: Login or Signup at Coinbase
Go to the website of Coinbase and click in the upper right corner on ‘Sign up” or ‘Sign in‘ if u already have a account (u can go to the next paragraph B). Submit your name, e-mail, choose a unique long password and agree to the terms. After that click on “Create account“. After this u will be asked to read the Privacy Rules and if u want to receive updates by mail.
Step 2: Confirm your e-mail and phone number
Coinbase will send u a link to verify your e-mail, login in your e-mail and click on the link. The next question from Coinbase is to submit your Phone number. Select first your “Country” and then submit your phone number. Coinbase will send a SMS to your phone with a code, submit the code in Coinbase to verify that you’re the owner of the phone number.
Step 3: Verify your identity
The last step before u can buy/sell or trade cryptocurrencies is to verify your identity. For this Coinbase asks your home-adress, your name, your date of Birth and a few questions about your financial situation. Submit all details and click on “Continue”. After this u will need to proceed with KYC (Know Your Customer) to verify your identity they will need pictures from your ID or driver license. First select the mode that u want to use: passport, diver’s licence or photo ID. Then select if u want to use your webcam, your mobile camera or file upload. If your choose mobile, u will get a SMS from Coinbase with a link where u can submit the photo’s from your phone. If u followed all these steps succesfull it will say “Identity Verified” which means u are ready to use Coinbase.
Step 4: Choose a payment method
In this step u may enter the details of your preferred payment method. U can choose to use a Creditcard (Visa or Mastercard), which only can be used for small investments. Or u can choose to connect your bank account, with this method u can instantly buy and sell once verified. Select the payment method that u prefer, in this case we choose “Bank account”. It will ask u to fill in your bank name, your IBAN number and your BIC number. If u dont know what the BIC code is of your bank u can check it here. Once u checked all personal information, click on “Verify your account“.
After this u have to proof that you’re the owner of these accounts. Coinbase will send two small payments to your bank account, which should be visible in 24 hours. Check your upcoming/pending transactions in your online bank account, u will see two small amounts from Coinbase UK. If u received the payments, u can verify this on Coinbase by submitting the last two digits of these charges. After this you’re account is function able and u can easy buy and sell crypto on Coinbase, congratulations.
B. Buy Bitcoin on Coinbase and send it to Binance
- Login on Coinbase, always check if you’re on the official website.
- Click on “Buy/Sell” in the menu at the top.
- Select “Buy” and select “Bitcoin”.
- It automatically selects your preferred payment method, check if this is right.
- Choose the amount of Euro’s or USD that u want to spend, Coinbase will calculate the amount of Bitcoin that u will get for this. It will also show u in the right menu how much fee u pay for this payment.
- Check the details: Always double check the information. Is this the right amount u want to spend? If u checked the information click on “Confirm Buy“.
- Your amount of Bitcoin will be available in your (Coinbase) BTC wallet instantly, go to your dashboard and u will see the portfolio value.
- Click in the menu at the top at “Accounts” to view your BTC-Wallet and click on “Send“.
- Login in your Binance account and click on “Funds“, u will get a overview of your balances.
- Search on “BTC” and click “Deposit” u will get a overview like in the picture below.
- Click on “Copy Address” and go back to the Coinbase Page and “Post” your BTC Adress under Recipient.
- Choose the amount of Bitcoin u want to send or click on “Max“.
- Check the transaction, and once u done click on “Continue“.
- A new popup will open with a overview of the order, check the information. Also u need to verify the transaction by giving the code that has been sent to your phone number. Submit the code.
- U will get a new popup with the message that the transaction has been send, it will take max a half hour before Binance did proceed the transaction.
C. Trade BTC for TRX and send it to your Tron Wallet.
- Login in your Binance account and click in the right menu at “Exchange” and then on “Basic“.
- In the right menu u can search for the pair “TRX/BTC” submit TRX and select the trading pair “TRX/BTC”
- Under the chart u will see a buy/sell menu. Click on “Market” and choose the amount of TRX that u want to buy.
- Once u click on “Buy TRX” u transaction will be filled immediately.
- Go to “Funds” and search on “TRX” and click in the right on “Withdrawal“
- Copy your Tron Wallet address and submit this under “Trx withdrawal Address” and select the amount of TRX that u want to send. U will pay also 1 trx as transaction fee.
- If u check the details, click on “Submit” verify the withdrawal by clicking on the verify link that was send to your e-mail. After this the TRX will be send to your Tron wallet. This can take up to a hour.