TRON wallet is always available on Guarda. In this tutorial, we will describe the basics of TRX cryptocurrency and answer the main question – how to store your TRON coins securely?
A brief introduction to TRON wallet
If you are into crypto, you must have heard of TRON. No, not the movie with peculiar LED swimsuits, but the blockchain-based system. The project, founded by a non-profit foundation based in Singapore, was initially striving to tackle the entertainment industry. However, it is much more than just a crypto coin for content creators now.
As TRON wallets, purchases and exchanges are available on Guarda, we would like to break down the basics of this cryptocurrency and how to store it securely in this guide.
What is TRON?
TRON works on the same concepts as the majority of blockchain projects – decentralisation and blockchain storage. The difference, however, is that Tron foundation strives to change the content and entertainment space. The main ideas behind TRON are cutting out the middleman standing in between content creators and users and reducing the creators’ dependency on such titans as Facebook. Instead of giving the traffic and revenue to middlemen, the content creators can receive revenue and public exposure by themselves (with help provided by TRON, of course).
The development team of TRON is truly formidable. The founder and CEO of TRON Justin Sun (Forbes Asia 30 under 30 and former Chief Representative in Ripple Greater China) created an ambitious project backed by a team of specialists from various countries and backgrounds. Currently, TRON team comprises of over 100 members in the dual headquarters in Beijing and San Francisco.
The main advantages of TRON are in the project focusing on people instead of organisations. Generally, TRON was created to allow spreading data without borders and restrictions. Users can upload and store their content in a variety of formats. As some piece of data gets uploaded to the platform, a user responsible for it gets digital assets. Users can control their digital footprint, too.
There are, of course, perks from the point of transaction system of TRON coin – Tronix transactions are performed through a blockchain, so all the operations are transparent and limitless. TRON TRX, however, cannot be mined. The total supply is 100,000,000,000 TRX.
How to buy TRON?
TRON TRX is a popular cryptocurrency, so it is available on the majority of crypto purchase and exchange services. Before jumping in to buy TRON coins, however, you need to get a suitable TRON wallet. Originally, TRX was a token based on Ethereum blockchain (ERC20), so it could be stored in any suitable Ethereum wallet. However, after the mainnet launch in 2018, TRON coins require their own dedicated TRON wallet.
How to store TRON?
The main question in the minds of cryptocurrency holders is its security. Of course, you do not want your TRON to disappear from a crypto wallet. This is why Guarda team has made a list of criteria characterising the best TRON wallet. Let’s look deeper into those!
- Security. First and foremost, your crypto wallet for TRON TRX needs to be secure. We advise turning to non-custodial cryptocurrency wallets. Custody-free services do not have access to your personal data (private keys and backup), so there is no chance it can be used by any third-party or leaked. You can read more about non-custodial wallets in this article. A secure TRON wallet should also be updated frequently – check how the development goes it on the wallet’s official website and social networks pages.
- Functionality. Depending on your needs, choose a wallet that is the right fit for you. For instance, if you are planning to manage other coins besides TRX, take a look at multi-currency crypto wallets supporting TRON. First of all, such crypto storages save you a great deal of time on switching in between wallets. Secondly, they are usually packed with other great features – exchanges, purchases, crypto-backed loans and more.
- Accessibility. If you are a person looking for a suitable TRON wallet for daily cryptocurrency management, find a wallet that is supported across various platforms. Multi-platform wallets can come in Web, Desktop, Mobile and Chrome Extension versions.
- Community. Besides the obvious security and handiness factors, take a look at the community of your wallet. Are the developers active on social media? Do they answer the users’ questions on time? During this step, you can also check the reviews for your wallet (for instance, on Trustpilot).
How to set up a TRON wallet?
Once you have made your pick, all you have left to do is set up your wallet for TRON and start managing your coins. In here, we will provide step-by-step instruction on how to set up a TRON TRX wallet on Guarda:
- On the main page of Guarda’s Website, click Create a Wallet.
- Proceed further by choosing to create a new wallet on the welcome screen.
- Make up a good password to protect your TRON wallet with. If you are not sure about what password to use, you can check this crypto wallet password guide to help you out.
- Download your backup. As Guarda is a non-custodial wallet, you need to make sure your backup is stored safely and out of the public eye. You can only access your funds with a combination of Guarda backup and your wallet password.
- Your TRON wallet is all set up! Now you can store, send, receive, exchange and purchase TRON along with a variety of other coins and tokens.