Tron (TRX) is undoubtedly one of the fastest-growing altcoins in the cryptocurrency market today. As it is an excellent option to diversify your portfolio, Tron is one of the top small-cap altcoins to be considered.
Tron (TRX) is available on some top crypto exchanges like Binance, Coinbase, etc. The top exchanges allow users to buy using fiat currencies such as USD, GBP, AUD, NGN, CHF, etc.
In this post, we’ll learn much is Tron (TRX) in the Nigerian Naira (NGN) today. Before then, let’s briefly describe Tron and why you need to buy/invest in it.
What is Tron (TRX)?
TRON (TRX) is a decentralized blockchain-based operating system created to help digital content creators. Tron was founded in 2017 by Chinese crypto entrepreneur, Justin Sun.
Tron has its network after first being run on the Ethereum network. 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 proof-of-stake (PoS) that is energy efficient, Tron (TRX) uses the delegated Proof-of-Stake (dPOS) system. This feature makes Tron far more energy efficient and 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 $0.052593, with a 24-hour trading volume of $407,164,343.
TRX is ranked 16th among thousands of crypto assets by CoinMarketCap. It has a live market cap of $4.8 billion. It has a circulating supply of 92,160,531,017 TRX coins.
Tron is available for purchase on exchanges such as Binance, Coinbase, CoinW, Bittrue, etc.
How Much is Tron in Naira Today?
Tron can be purchased 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 2022?
Tron has stated that its network has 2,000 transactions per second capacity. BTC, the largest crypto, handles up to 6 transactions per second, and ETH at 25 per second. This is something to be considered by investors.
The crypto market is currently down with the crash of Terra and now the FTX exchange. This has made the price of Bitcoin and other cryptocurrencies turn red indexes. Despite this, averse risk-takers are buying crypto assets, and buying a crypto asset like now before the next bull could be a smart move for investors.
Including TRX when diversifying your portfolio can help minimize the loss in your investment. This is another reason to consider this crypto coin.
Where to Trade Top Crypto Assets in 2022
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 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 cryptocurrencies is Prestmit. Bitcoin (BTC), Litecoin (LTC), Tether, and Dogecoin (DOGE) can be traded here. Top gift cards can also be sold at reasonable rates on this platform.
Tron can be purchased on major exchanges with the Nigerian Naira. The price of crypto assets is unstable, but at the moment, the cost of 1 TRX goes to N23.32.