The cryptocurrency market has several thousand digital currencies, making it challenging for investors to pick the best coins for their portfolios. But more than half of cryptocurrencies have little to no real-life value. TRON is one of the few cryptocurrencies that has made its way and weathered the storm.
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What is TRON?
For those who don’t know, TRON can be best explained as a decentralized virtual machine that works similarly to Ethereum. TRON enables developers to create decentralized applications (dApps) and execute advanced smart contracts. What makes TRON desirable to most decentralized application developers is its transaction speed and transaction cost. The platform can process around 2,000 transactions per second, a feature that alone puts it at par with giant payment processors like PayPal.
And do you know the best part? There are minimal transaction fees on the platform. It means you can send as much money as you want in TRX without having to pay hefty transaction fees. Because of these reasons TRON has done exceptionally well in the market, considering it was launched quite recently in 2017. The current rate of 1 TRX to INR will show you how valuable this cryptocurrency is, even in today’s time.
But is it enough information to help you shape your investment decision? Well, certainly not. It is why we have curated some essential information around TRON that is enough to help you decide whether you should invest in TRON or not. The list of things you should know about TRON is shared below.
TRON has an Excellent & Strong Developer Team
A cryptocurrency’s developer team can make or break it. TRON’s team is one the best and highly sought-after in the crypto space. They not only went ahead and created one of the most scalable and adaptable blockchains available in the crypto space, but they also constantly worked hard to improve the network to meet the ever-changing market needs.
They were also able to integrate TRON and Bittorrent, which in turn increased the use-case for their blockchain-backed platform. It is relatively easy to see that this strong team is responsible for this cryptocurrency’s phenomenal success. As a long-term investor, the platform’s team can be one of the most compelling reasons to invest in this cryptocurrency.
TRON is now an Independent Blockchain
TRON began as an ER20 token in 2017, but it later moved to its own blockchain to not get affected by changes in the Ethereum blockchain. This significant shift gave TRON the freedom to grow by allowing independent developers and other TRON users to create smart contracts without any fuss.
The change has also made TRON’s blockchain more efficient, resulting in huge demand for TRX coins. The platform’s ever-growing developer network will provide TRX with a wealth of value, so investors shouldn’t take this cryptocurrency lightly.
TRON is Created for the Real World
There are many crypto coins and crypto tokens in the space that don’t have any real use. You can find countless tokens that are nothing but paper tigers. So if you’re an investor, never make investment decisions based on a cryptocurrency’s whitepapers alone. Check what utility the coin is providing in the real world. Digital currencies that add no real value are at risk of falling if the market crashes. This was the case once after the ICO bubble burst in 2018.
TRON was one of the cryptos that weathered the storm and thrived. The market fell by more than 70%, but tokens with no activity simply vanished. TRON has also seen a rebound in this market rally. This cryptocurrency has real-world applications in sectors like entertainment, payments, and content distribution. These use cases are still in their nascent stage, but with a strong development team, this coin is sure to perform exceptionally well in the coming years.
TRON is a Low-cost Crypto Geared for Long Term
Many cryptocurrencies have seen their market value increase significantly from a few dollars to several hundred dollars, like Bitcoin. Those who invested in it during the initial years got significant returns when converting BTC to INR later. Investors have a great incentive to invest in low-cost cryptocurrency in the hopes of becoming wealthy in the future. This can be seen in the booming demand for tokens such as Safemoon.
TRON is one of the cryptocurrencies that has the potential to become a major cryptocurrency in the long term. It is not only cheap, but it also has many underlying fundamentals that support it. It is a cryptocurrency that can be accumulated with long-term value growth.
Justin Sun’s Marketing Efforts Have Given TRON the Much-Needed Boost
Justin Sun is more than just another crypto founder on the block. He’s also a remarkable marketer whose marketing efforts have yielded excellent results. He doesn’t miss a single opportunity to promote his cryptocurrency, TRON. Quite recently, Sun spent a little over $3 million to have lunch with Warren Buffet.
This is huge because generally, all or most lunches with Warren Buffet get highlighted in American mainstream media. TRON was exposed to many Americans who knew little about him and his cryptocurrency via this coverage.
Another marketing effort of Sun that deserves attention is capitalizing on the NFTs hype in the Wall Street bets-driven stock rally. During the GameStop stock rally, Sun claimed that he had purchased $10 million worth of GameStop stock.
TRON was made more visible during this publicity. Sun is so committed to the project that new investors will certainly continue to come in and increase its value over time.
With so much working in TRON’s favor, it’s hard to ignore it. While TRON has emerged as a promising cryptocurrency to invest in, one should remember that it is not free from volatility and risks. So if you want to include TRON in your crypto portfolio, make sure you’ve done your research to see if this cryptocurrency aligns with your investment goals and risk appetite.