Tron (TRX) is undoubtedly one of the fastest-growing altcoins in the cryptocurrency market today. It is one of the top small-cap altcoins you should consider as an option to diversify your portfolio, The burning question on your mind is probably, how much is one Tron in naira? We’ll get to that in a minute.
Several cryptocurrencies and tokens are created for different reasons, and TRX is no different. its developer wanted to create a token that digital creators can use to create entertainment pieces. Tron (TRX) is available on top crypto exchanges like Binance, Coinbase, etc. Users can buy the coin on these top exchanges using fiat currencies such as USD, GBP, AUD, NGN, CHF, etc.
In this post, you’ll learn how much 1 Tron (TRX) is in the Nigerian Naira (NGN) today. Before then, let’s briefly describe Tron and why you should invest in it.
What is Tron (TRX)?
TRON (TRX) is a decentralized blockchain-based operating system created to help digital content creators. Its own cryptocurrency is called Tronix with the abbreviation TRX. It was founded in 2017, by Chinese crypto entrepreneur Justin Sun. It ran on the Ethereum network initially as an ERC20 token for a while but migrated to its own network and has even become a major contender with ERC20 tokens due to its structure and features.
The Tron software supports smart contracts, dApps, and blockchain systems. The platform was built to create a decentralized Internet and serves as a tool for developers to create dApps.
While Bitcoin (BTC) uses the proof-of-work (PoW) consensus mechanism and Ethereum, the more energy-efficient proof-of-stake (PoS), Tron (TRX) uses the delegated Proof-of-Stake (dPOS) system. This feature makes Tron far more energy efficient and also processes transactions faster.
Tron’s Worth in the Crypto Market Today
Tron trades in the crypto market with the symbol TRX. The live price of TRX is $0.08, with a 24-hour trading volume of $128.83 Million.
CoinMarketCap ranks TRX 16th among thousands of crypto assets. It has a live market cap of $4.8 billion and a circulating supply of 92,160,531,017 TRX coins.
Tron is available for purchase on various exchanges such as Binance, Coinbase, CoinW, Bittrue, etc.
How Much is 1 Tron in Naira Today?
You can purchase Tron on exchanges such as Binance with fiat currency such as the Nigerian Naira (NGN).
As of writing, 1 TRX equals N23.32, while 1000 TRX is worth NGN 23,316.54. The latest TRX price is half its price a year ago at NGN 41.17.
Why Buy Tron (TRX) in 2023?
TRON TRX has many appealing features that can reel in investors. Take a look at some of them.
1. Speed
Tron says that its network has a speed of 2,000 transactions per second. BTC, the largest crypto, handles up to 6 transactions per second, and ETH at 25 per second. This is an enticing feature for investors.
2. High Trading Activity
The crypto market came down with the crash of Terra and the FTX exchange. This crash caused the price of Bitcoin and other cryptocurrencies to go into red indexes. Despite this, averse risk-takers are buying crypto assets, and buying a crypto asset before the next bull is a smart move for investors. Looking at the growth of the market cap and the trading volume of TRX over time, one can see that it shows promise of being a worthy investment in the coming years.
3. Low-risk Investment
Including TRX when diversifying your portfolio can help minimize the loss in your investment. This is another reason to consider this crypto coin. Apart from adding variety to your investment portfolio, TRX is a safe coin, and it’s always good to include low-risk investments in your portfolio.
Where to Trade Tron in 2023
With the recent bankruptcy of the FTX exchange and other crypto firms in 2022, it is essential to do background research before dealing in crypto.
A top-tier exchange like Binance is still a good choice considering its trading volume. On platforms like this, your crypto assets are much more secure.
If you are in Nigeria, one of the best places to sell Tron is Prestmit.
Conclusion
There are many altcoins in the crypto pool. One of the new crops is Tron (TRX). The coin was developed with the intention of helping content creators who use blockchain apps. Today, it’s one of the fastest-growing blockchains with excellent network support. Interested investors can purchase Tron (TRX) on major exchanges with the Nigerian Naira, some of which include Binance and Coinbase. The price of crypto assets is unstable, but at the moment, 1 TRX costs N23.32 in Nigerian Naira.
Is always wise to do proper due diligence before making any financial investment or commitment. This article does not serve as financial advice. Kindly consult your financial advisor or crypto investment broker for proper guidance on this cryptocurrency and if you should invest in it.
