Tron: Why Should You Care About it?

Tron is currently one of the largest digital currencies. Everyone’s brother’s sister’s uncle is asking for it 😅. Even our exclusive community is talking about it.

It’s the next best thing if you don’t want to touch Bitcoin or Ethereum. But what exactly does Tron do? And more importantly, why is it becoming so popular suddenly? We’re about to break it down so buckle up and let’s get started 🚀

What is Tron?

The odds are you already get the general gist of cryptocurrencies. If you don’t, this 5-minute guide to cryptocurrencies will help.

But to understand why Tron is different from other digital currencies, we’ll look at it in 2 ways. First, what Tron does, then its performance as a currency so far.

What Does Tron Actually Do?

In its simplest form, Tron’s blockchain system is a content host. Justin Sun created it to fill the gap between content creators and fair payment for their content.

If you listen to content creators, one of their biggest complaints is not getting paid what they deserve for their work. You see popular artists and think “ah they must be making so much money.” But a lot of the time, they don’t earn much.

Tron acts as a network where content can go from the creator to the target consumer without paying a middleman.

Smooth and easy, no noise. You create your content, distribute it through Tron, and receive money directly from your audience. 

Here’s an example to help you understand better:

Imagine you were a movie producer and after creating a movie you put it on Netflix for free. Then, you decide you want to charge ₦1,000 for everyone who watches the movie view but you want the money to go straight to you without splitting it with anyone. That’s basically what Tron allows you to do.

But just like Bitcoin, it has its own blockchain for verifying the transactions on its network. And since blockchains need a central currency, Tron uses Tronix (TRX). Tronix is boring so everyone just says, Tron.

Its Track Record as a High Performing Cryptocurrency

Just like Bitcoin, you can trade TRX for other currencies on a cryptocurrency exchange. You can send it, receive it, or keep it like an investment.

Tron cryptocurrency price movement over the years
Tron’s price movement over the years

Look, Tron may not be as popular as Bitcoin but it’s had its moments. We love a good underdog story so here goes:

In September 2017, the price was $0.002 (₦0.72). By December, it was about $0.014 (₦5.04). This may not seem like much since it wasn’t up to $1.

But look at it like this. If you had bought ₦1 million worth of Tron in September 2017, it would have been worth ₦7 million by December.

The wildest part is that just the next month, it would have been worth about ₦66 million when Tron hit its all-time high of $0.133 (₦47).

Why Should Anyone Buy Tron?

Look, if you want the short story, it’s this: Tron has mad potential. But if you want the long story, then let’s dig in, shall we? 

1. Tron Could Potentially Become a Content Magnet

The world runs on content. And where you have such large scale content, you have creators who feel cheated by industry giants. Unless platforms give content creators more agency, this won’t change. Tron is in the best position to become a safe space for content creators. 

2. Is it the Next Bus-stop for DeFi after Ethereum?

Tron has its own virtual machine called a mainnet. You know how people can build apps (decentralised applications or DApps) on Ethereum with their own cryptocurrencies? Tron allows you to do the same thing. The world is currently going crazy over decentralised finance (DeFi) services. Everyone sees their long-term potential. But most DeFi services are still hosted on Ethereum. 

Unfortunately, Ethereum is overloaded and struggling to scale their platforms for all the DApps they currently have. This is where Tron comes in. Soon, more DApp creators will start looking for other stable platforms to host their services.

Tron has the structure for it. Dappradar shows that there are already 793 listed DApps on the Tron platform. 17 of them are DeFi services and the number is growing fast. 

DappRadar image showing the top Tron cryptocurrency DApps
DappRadar image showing the top TRON DApps

3. Tron Could Make Gaming Easier and More Engaging

Let’s say you like playing the game Call of Duty, now imagine someone needs a particular gun to achieve a task.

But only you and 20 more people have that gun. You bought it for about 5,000 but now, you’re only willing to sell or loan it out for 30,000. 

The other person is really bent on destroying their village people in the game, so they pay for it. Next, you release the gun to them.

Imagine how much more interesting the game would be if you could make money from them virtually. And it is real money, not just audio money. 

A listed location in the game Lordless up for sale by another player on the Opensea virtual marketplace. Lordless recently moved from the Ethereum blockchain to Tron.
A listed location in the game Lordless up for sale by another player on the Opensea virtual marketplace. Lordless recently moved from the Ethereum blockchain to Tron. 

How to Buy Tron in Nigeria?

You can easily buy Tron in Nigeria using direct bank transfer or your debit card. And you get credited instantly and Sign up for free to get started.

Tron cryptocurrency is going places and people are riding that wave in different crypto trading circles. In 2017, many people missed out on several cryptocurrency bull runs. Including Tron’s amazing 6550% increase.

But those were short-term unstable gains. Many of these crypto projects were just starting out. Luckily, you’re in a unique position.

This is the beginning of Tron’s stability as far as their goals are concerned. If you decide to invest, there’s no better time than now.

Do you want to learn more about crypto trading but you don’t know where to start? Join our community! We hold regular training just like this one. You can also check out our other cryptocurrency guides.  Other people are facing unique challenges and amazing benefits while trading. You can also read their Bitcoin Stories and share yours with us.

Quidax Africahttp://www.quidax.com
Quidax is an African focused cryptocurrency exchange that provides a simple platform for you to send, receive, store, buy and sell digital currencies. Our aim is to educate you about cryptocurrency. It should not be considered as financial advice. We recommend conducting your own research before deciding to buy, sell or hold any cryptocurrency.