Tron (TRX) is really a good coin of this cryptocurrency market. In the present time numbers of coins are available that are better at their level.
But it is TRX, which played a vital role in the field of cryptocurrency.
After the entry of TRX coin and Tron Network, the whole cryptocurrency field potential changed to another level to perform the task.
Lets see, what we got in this field of cryptocurrency due to TRX coin & Tron network entry in may 2018.
Use Of TRX Coin
The most popular use of TRX coin in the present time is in payment options.
We all know very well how other coins are expensive for us to use as payment options.
Before TRX there were many coins that were best to choose for payment purposes.
The best examples are DogeCoin, Digibyte coin, Bitcoin Cash, Ethereum. These coins were popular before 2020. Because the price of these coins were not high. In Particular, DogeCoin was the best option. Because transaction fees with DogeCoin use was around $0.001and even less in some cases. But now the price of DogeCoin is very high and we have to pay $1.5 approx per transaction as a fee in DogeCoin.
So we can understand how much it has totally changed.
In the present time if we want to use TRX as a payment option then we just need $0.01 to pay in fees. Alternatively we can say we need to pay 1 TRX.
If we look at Bitcoin cash or another coin then these fees result in a very high amount for small traders.
If any person will claim that there are numerous coins available which can replace TRX, then, he may be right in his point of view.
But here the point of view to use TRX coins is not only based upon the transaction fees amount. But it is based on the transaction speed also.
Most of the exchanges confirmed the accepted deposit in maximum 3 confirmation of TRX coin and it took around less than 1 minute. Which makes payment very fast.
So don’t decide or judge any coins as best or bad from a single point of view.
And also many new projects are looking only for TRX coin to use as payment option because of its speed and fees efficiency.
For example many multi-level-marketing, Gambling websites are using it for payment purposes.
Here we are not in favour of MLM or Networking/chain system schemes & Gambling, We are just trying to explain the use of TRX coin. It all depends upon you how you’re thinking.
TRC-20 Network Efficiency
TRX coin is working on the Tron Network. Tron Network allows people to use their public blockchain to launch their own coin.
Here we don’t mean to launch new coins. We mean, If any coin’s Team has belief in Tron Network then they can launch their coin on Tron Network through TRC-20 contract system.
Since any team/individual has freedom to list/launch their new/old coin project on the TRC-20 Contract system, But it doesn’t mean that TRC-20 is just like an ERC-20 copycat.
TRC-20 provides high transaction speed with less transaction fees.
So if any coin will be based upon the Tron Network then that will have efficiency totally like TRX coin.
Here we are not praising the Tron Network, but it is in use at a wide level.
If you are an old cryptocurrency user, then surely you know very well about the confirmation speed before 2018.
To send Bitcoin or another high potential coin like USDT, we need to wait for the 3-6 confirmations ( varying from exchange to Exchange). The confirmation time was around 30 minutes to 1 hour or sometimes more.
But after the entry of TRC-20, USDT coins can be sent through the Tron network and we need to wait for 1 confirmation only and that takes around 0.5 minute.
So here we are getting a very high transaction speed with a very small amount of fees.
After the entry of USDT over the Tron network, Margin Trading became more active than what was earlier.
TronPad Launch (Tron.Network)
Recently a platform has been launched under the partnership of Tron and BSC, TronPad.
The TronPad is totally supported by the Tron Network.
Since the TronPad is not using TRX coin directly at their TronPad Platform.
They launched a new Tronpad token with TronPad.Network .
Probably soon the team of Tron Coin will allow the use of the TRX coin at the TronPad Network.
Since TronPad is in the initial Launch. But soon they will integrate their launch Pad Service with other coins also. And TRX coin will be at number one.
Burn Of TRX Coin
To increase the price of the coin in the cryptocurrency market, Coin Burn is a popular concept.
Many of the coin’s team are widely using the concept of coin burn.
Coin Burn is a process to send coins/token to an address whose private key is inaccessible or trashed by the team.
The transaction fees that we are paying in TRX coin transactions are burned by the Team of Tron Coin. So day by day supply of TRX coins is decreasing.
And as all of us know very well that if a coin’s supply tends to go down and demand will increase. Then the price of the coin will also increase.
So the owner of TRX coin is not making any profit due to TRX coin transactions.
So this concept of burning TRX coins is also an indication of the best future of TRX coins.
Is It Worth To Buy TRX Coins For The Long Term?
Since here we are not a financial advisor. But still we recommend everyone to use And hold TRX coins.
Your money, your decision of Investment and your profit/loss.
According to the full analysis of the TRX coin by the Truebitcoiner.com team, TRX is the best coin to buy and hold for the long term.
But here everyone should not decide to invest in any of the coins due to our analysis points of view. Everyone is suggested to use your own ideas and mentility to think and analyse this coin. And then decide whether you should invest or not.