The basics of a blockchain are to stand ‘free internet’ an option that can’t be throttled, monitored, or censored that is what TRON (TRX) is.
TRON (TRX) was designed as a decentralized network on content distribution, where the internet is regulated by Titans i.e Google, Facebook, and Amazon in the current phase.
TRX wishes to establish an internet where all the content and data can be monitored by the users themselves and not by the involvement of any third party on corporate interests. This network will pave a way for the usage and distribution of the online digital assets on which TRX tokens develop their value.
Through this blog, we shall look upon ‘How to buy TRX on Binance US’ through its online official website or on Binance App. We advise you to read the article thoroughly till the end of this page.
How to buy TRX on Binance App
The method lies the same for both on how to buy TRX on Binance app or on Binance official website. Thereby let us go through the steps on how to get the first Token and begin investing in TRON (TRX) on Binance platform.
The steps are discussed in detail below:-
- Register an account on Binance
Firstly, to buy TRX, you need to register for the Binance account.
If you do not have an account, then you must create an account on Binance. The procedure is quick and simple. You just need to provide the required credentials and register on the account.
- Verify the account
In the next step, you have to deliver various documents for verification before you start on trading.
The verification may take time but you must hold for a while till the completion of the verification.
- Set Up 2-Factor Authentication
Now, in addition to that you require to set up the security criteria on the account i.e the 2-Factor Authentication.
- Send the BTC or ETH Coins to the Binance account
Once the account is ready and is running, then you have to send the BTC or ETH to the wallet of Binance.
In order to deposit into Binance the steps are:-
1. Move to the navigation bar and click on ‘Funds’ section.
2. Next, tap on ‘Deposits’.
3. In the next step, select the desired coin that you want to deposit from the pop-up list.
4. Then, a wallet address will be sent where you need to send the coins. Ensure to send the selected coins only to that particular address i.e ETH to the ETH Wallet or BTC to the BTC Wallet. Coins other than these may get lost.
- Wait for a while for the confirmation
The transaction often gets completed shortly, but it may also take time depending on load of the network.
So you need to hold for a while until you get the confirmation by Binance that everything has been successfully completed before moving to the next step.
- Search and choose the pair of BTC or ETH
Once you have successfully added your desired coins such as ETH or BTC to the Binance account, then now it is time to go to the ‘Exchange’ tab.
1. Navigate to its header bar and tap on the ‘Exchange’ section.
2. Click on ‘Basic’.
3. Move to the right of the displayed page and click on the coin which was deposited by you earlier.
4. In the search box, look for ‘TRX’.
5. Next, tap the pair that shows up like TRX/BTC or TRX/ETH.
Optional: Use of Binance advance tools:-
On Binance, users will be offered several data and tools which will help them to inform about their trading. Such as price history, real-time price graphs, limit orders, and order history.
To limit orders means an investor can set a price at which he/she wishes to buy TRX on Binance. When the price hits the point which was set up then Binance will execute automatically the trading i.e to buy or to sell.
- Select the proportion of TRX you want to buy
1. Now, just move to the box which is below the graphs on prices.
2. Then put the amount of TRX, one wishes to buy including the price at which you desire to buy at.
3. In an alternative sense, you can choose the tab on ‘Market’ to buy at the existing given price.
- Buy TRX
Click on the ‘Buy TRX’ tab which is green in colour and then you are done. The process is completed.
How to get TRX out of Binance account
To learn how to get TRX out of Binance you can move the coins to the secure wallet on Tron and for these, you can go through the following steps.
In cryptocurrency it is good to keep the coins off from an exchange when they are not performing in trading.
- For this, you require a wallet supporting TRX. You will get a list of wallets provided by Tron such as the Atomic and Exodus wallets for Desktop users and Satowallet for the iOS and Android users.
- For high-level security, you can also make an investment in the hardware wallet namely Ledger Nano S.
- When you select and have set the wallet, then you need to withdraw the coins from Binance so as to get TRX out of Binance. For this: Move to the navigation menu and select the ‘Funds’ section again.
- Next, hit on the ‘Withdrawals’ tab.
- Then, select ‘TRX’ from the list to buy TRON.
- Enter the address from the wallet of TRX and the number of coins that you wish to withdraw.
- Tap on the ‘Submit’ button.
- When the transaction gets completed, then the coins must be shown up in the TRX wallet.
Thus, we hope this blog will surely be able to guide you on how to buy TRX on Binance and how to get off it is very simple and easy terms.