Tronix coin (aka Tron) goes by the trading symbol TRX. It’s a hot coin right now that’s not available on big exchanges like Coinbase. However, Tron’s recent boom has done a lot to put other exchanges on the map. One of the easiest to sign up on and use to buy Tron is Binance.
The fastest way to turn your US dollars into TRX coins is:
- Sign up for a Binance account.
- Purchase bitcoin using Coinbase.
- Transfer that bitcoin to your Binance account.
- Purchase Tron (TRX) with your bitcoin (BTC) on the Binance exchange.
Here’s the complete breakdown if there are too many gaps still in those instructions.
1. Sign-up on Binance
First, go to Binance.com and sign up for an account. When you sign up, you’ll have some basic info to put in and then you will have a Level 1 account, which means you are limited to a 2 BTC withdrawal every 24 hours. You can submit additional documentation to upgrade to a Level 2 account and withdrawal up to 10 BTC every 24 hours. However, the Level 1 account gets you everything you need to get bitcoin from Coinbase to Binance and buy some Tron.
2. Purchase Bitcoin on Coinbase
With Binance, you need to put your money on the exchange using Bitcoin (or another major coin). If you don’t know how to purchase Bitcoin, read my guide on How to Buy Your First Bitcoin in the US.
3. Transfer Bitcoin from Coinbase to Binance
Now that you have your bitcoin and you have a Binance account, go to the Funds tab on Binance and click Deposits/Withdrawals.
Now, you will find the line that shows “Bitcoin” and click “Deposit” on that line.
This will give you a unique BTC Deposit Address. Copy this address using the copy icon to the right of the address.
Go to Coinbase and click the “Accounts” tab. You’ll now see your bitcoin wallet in Coinbase that shows you the amount of BTC and its USD equivalent that you purchased in Step 2 above.
Click “Send” from your bitcoin wallet. Under “Recipient” you will paste that BTC Deposit Address from Binance and click Continue. Confirm the transaction and wait. Depending on the congestion of the various networks, it could take anywhere from 10 minutes to a couple hours for the bitcoin to transfer to Binance.
You can check the status under the Funds tab on Binance by clicking on “History.” You can also check the transfer (it will say “Pending” at first) on Coinbase by clicking on the individual transactions found under the Accounts tab.
4. Purchase TRX with Your BTC on Binance
Now that you have bitcoin in Binance (in reality this could all take less than 10-15 minutes), you can navigate to the Exchange tab and click on “Basic.”
On the right side of the window, you’ll see the different exchange currencies you can use. Select BTC and scroll down to select TRX (aka Tron or Tronix).
At the bottom-center of the window, select the Market tab (of course, you can do a limit order if you want but I’m assuming the quickest way to buy TRX). Select the amount of TRX you want to buy or click 100% if you want to use all the BTC that you transferred over from Coinbase. Then, click “Buy TRX.”
Boom. You’ve got some Tron coin now and it probably took you longer to read this post than it did to buy the TRX.