If you are a blogger, freelance writer, or content publisher of any kind, you’re going to find TRON very interesting. Why you ask? Well, content creators are TRON’s target audience.
TRON aims to make the web decentralized again. The way it will do that is through content creators. By giving creators complete control over ownership rights, distribution and payment, it will empower creators and in the process, form a decentralized entertainment ecosystem.
In this article, we’ll explore in more detail how TRON is empowering content creators and how you can invest it in it.
What Is TRON?
The person behind TRON is Justin Sun, a well-known figure. Forbe’s did an interesting piece on Sun.
Sun is the former Chief Representative in Greater China of Ripple. He also founded Peiwo App with over 10 million users and is a protege of Jack Ma. The same Jack Ma of Alibaba. Justin is currently TRON’s CEO.
The official currency of TRON is the TRONIX.
According to coinmarketcap.com, TRON is currently ranked #14. Its price is $0.0682 and there are 65,748,192,476 TRON in circulation. That’s a fairly large amount compared to Bitcoin at 16,825,775 and Ethereum at 97,203,121.
How Is TRON Different?
TRON seems to be one of those currencies that is more focused on infrastructure rather than the pure utilization of digital currency. It wants to build what it calls Web 4.0. In a nutshell, that means a decentralized entertainment ecosystem.
This entertainment ecosystem is meant to benefit mainly digital media creators. By using smart contracts and the blockchain, TRON will ensure that creators own rights to their content, have a place to store it, distribute their content and even charge a subscription fee.
Digital media creators will have total control of how content is created and how it is distributed. There is no middle man between the creator and final consumer, which also means that creators don’t have to pay fees. Basically, TRON will be the middleman.
TRON is also pre-mined, so there no mining on the platform.
TRON has a token called the TRON 20 token. This token is different from TRONIX. It allows content creators to create custom tokens. In a way, it allows digital media creators to create their own cryptocurrency.
The TRON 20 token isn’t yet available and will be rolled out with TRON’s overall larger plan.
How To Invest In TRON
You can’t buy TRON directly. Instead, there is a round-about way to purchase TRON. The flow looks like this: Buy BTC through Coinbase then transfer to Binance, where you can buy TRON with your BTC.
There are more exchanges coming in the near future that will allow you to buy TRON. For now, we’ll have to use Binance.
Let’s walk through the process in detail.
1. Create A Binance Account
The first thing you need to do is setup a Binance account.
Binance is a popular choice because it allows crypto-to-crypto transactions from companies like Coinbase. It’s important to note that you can’t send money to Binance. You have to go to Coinbase -> Exchange (Binance) -> TRON.
So, you’ll always need two accounts:
- Binance: which you can signup for here
- Coinbase: Coinbase gives you $5 in free Bitcoin when you signup and make your first trade.
Hopefully, this changes soon, but that’s how it goes today.
2. Buy Bitcoin or Ether on Coinbase
Once you have a Binance account setup, you need to buy Bitcoin or Ether on Coinbase.
It’s very easy to do once you have a Coinbase account setup. You simply go to the Buy/Sell page and enter your information. Then, your Bitcoin will be in your wallet and you can move to step 3.
3. Transfer Your Bitcoin To Binance
Once you have your Bitcoin or Ether in your Coinbase account, you can transfer it over to Binance. This is also fairly easy to do.
In your Binance account, go to your balances then wallets and you can see all the different coins you can hold in your account.
In our case, we’re transferring over Bitcoin, so click on Bitcoin, and you’ll see a Wallet Address generate. Here’s what most look like:
Once you have that address, you go back to Coinbase, choose “Accounts”, and then “Send.” You’ll see this screen come up where you can send your Bitcoin to the address generated in Binance:
4. Buy TRON
Once you have your Bitcoin in your account at Binance, you can finally buy TRON.
In your Binance account, execute the TRON/BTC (or TRON/ETH) exchange.
Once you place your trade, it will show up in your Binance account.
Final Thoughts
If you are a digital media creator of any kind and interested in utilizing blockchain technology or simply seeing how it might benefit creators, TRON is a cryptocurrency that you should keep an eye on.
TRON is still in its early phases but expect more details to be forthcoming. With some big names behind it and that know how to make news, TRON should continue to get spikes in its price.
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him on the About Page, or on his personal site RobertFarrington.com.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.
