Bitvavo makes Tron as easy as possible. Here are answers to common questions to help you make your first steps in the world of digital assets.
Tron (TRX) is an open-source decentralized platform that wants to change the digital entertainment industry with the help of blockchain technology. With the Tron platform it is possible for content creators (such as music or video) to share their content with interested parties without the intervention of a third party. Because the intermediary can be removed, the consumer can get access to the content for a cheaper amount while the creator of the content has a larger amount left over.
The Tron blockchain is made up or three different layers. These are the:
1. Core layer; This is the base layer of the Tron blockchain which consists of a distributed development platform based on the Proof of Stake consensus protocol. This base layer makes it possible that at least 10,000 transactions can be processed per second and that it is not necessary to calculate transaction costs.
2. Storage layer; to store the data on the Tron blockchain, Tron uses Block Storage and State Storage. The choice to use a double layer has been specified to ensure that the data can be stored in a more diversified manner.
3. Application layer; the application layer is the top layer on which smart contracts, DApps, tokens and wallets can be built which run on the Tron blockchain. Different programming languages can be used to make it accessible to as many people as possible.
Within all smart contracts, DApps and wallets that are built on the Tron blockchain, Tron can be used as a means to transport value between the various users.
Bitvavo makes it as easy as possible to buy digital assets and cryptocurrencies.
1. Sign Up
Create a free account with which you can buy, sell, send, receive and store Tron. Access your Bitvavo account from every location, on mobile and desktop.
2. Transfer Funds
Verify your account and transfer Euros to your Bitvavo wallet using one of the 8 supported payment methods.
3. Buy and Trade
Buy or sell over 150 digital assets and pay a maximum trading fee of 0.25%. Store your assets in your Bitvavo wallet or send them to your external wallet.
Storing Tron and other digital assets requires a wallet, but don’t worry: Bitvavo’s hosted wallet allows you to store Tron without any technical knowledge. Here is a brief overview of the existing wallet options to store your Tron:
Hosted Wallet
Hosted wallets are wallets where the private keys to your Tron are managed by a third party such as Bitvavo. Access to your account is protected by a password and other advanced security features. Once you are logged in, you can easily and conveniently manage your Tron online. Bitvavo offers standard hosted wallets for all digital assets that are offered on the platform.
Software wallet
A software wallet is a program installed on your computer or other device in order to use and manage your Tron. Using a software wallet gives you full control over your private keys, so you are not dependent on third parties. The risk is that you alone are in charge of the security of your Tron, and if malicious parties have access to your device, your private keys (and therefore your Tron) can be stolen.
Hardware wallet
A hardware wallet is a physical device on which you can store your Tron offline. It is one of the safest ways to store your Tron, because the private keys are stored on a separate and offline device. Access to this device is often protected by a password. In many ways, a hardware wallet can be compared to a safe in which your Tron is stored.
You can use Bitvavo's hosted wallet to easily store, send and receive Tron. Once you have purchased Tron on Bitvavo, you can choose to send your Tron from your Bitvavo wallet to your own software or hardware wallet.
