When it comes to comparisons that don’t often get made, Tron vs. Bitcoin is a perfect example. This is because Tron functions in a way that is more similar to Ethereum and is aiming to make blockchain technology a widespread and heavily integrated tool. But that doesn’t mean that Tron can’t be compared to Bitcoin, and, surprisingly, it has a few big advantages over Bitcoin too.
What Is Tron?
Tron started its life as an ERC20 token that wasn’t really destined for great things. It did, however, get a lot of public attention, and this meant that it did very well at ICO. The ICO itself raised $70 million for the Tron team, and it cemented Tron as a big crypto token to watch out for.
Then the token started getting more attention, this time unwanted. The Chinese government decided that Tron was a problem token and banned it. Then, crypto investors themselves noticed that parts of Tron’s whitepaper appeared plagiarised.
Tron responded by denying any plagiarism and moving from an ERC20 token to a fully-fledged coin by creating the Tron network. This meant that Tron was no longer at the mercy of Ethereum, and they had created a platform that actually directly competed with Ethereum.
This was a largely positive move, and Tron has since started to enjoy a lot more trust among the crypto community and is steadily increasing in value. Its biggest challenge remains adoption, and Ethereum and EOS both actively seek to attract developers that Tron might snatch.
Advantages of Tron Over Bitcoin
When comparing Tron to Bitcoin, there are a few things that really stand out about Tron. The first is that it is incredibly fast compared to Bitcoin. Tron can process 2,000 transactions each second compared to Bitcoin’s measly 5 per second.
Then there is scalability, which Bitcoin is notoriously bad for. Bitcoin uses Proof-of-Work, which gets more costly and more energy-draining as time goes by and the blockchain is using more. Tron, on the other hand, uses a very good alternative called the Delegated Proof-of-Stake system, which allows TRX members to vote and elect representatives who can be trusted to validate each block.
This means that Tron is much more scalable than the clunky Proof-of-Work Bitcoin. Another advantage of Tron is that it has a low entry-level price compared to the price of one Bitcoin. Nowadays, it is commonplace for people to buy a small fraction of Bitcoin, which is great. However, it does mean that anyone bothered by not owning a whole coin will prefer Tron to Bitcoin.
Before deciding whether or not you should invest in Tron (TRX), it is best to check a TRX to BTC exchange calculator to see what the current values are.
Should I Invest in Tron?
After you know what values both TRX and BTC have, the question is whether or not TRX is a good investment. This can be answered in many different ways. If you’re looking to HODL Tron or any cryptocurrency the primary concern is that you believe in the project personally. You should only HODL a coin that you have faith in it rising over long periods or indefinite periods of time.
For this reason, many HODL Bitcoin or Ethereum (ETH) as they feel that overall, these two cryptocurrencies will appreciate in value. When it comes to currencies down the market capitalization list, it becomes more about your personal feelings about the project. Some of the tokens in the top 20 today might not be around in 20 years’ time, so picking the right token to HODL is crucial.
For this reason, because there is a bit of risk involved with a Tron HODL, many choose to trade and convert TRX against other currencies and leverage Tron against other coins. This can be a lucrative practice and requires a good in-depth knowledge of both Tron and the currencies you’re switching between.
It also requires an exchange that can process your TRX transactions quickly, as even a minute’s delay could be catastrophic to the success of a trade.
Where to Buy Tron?
Because you will notice that time is of the essence when it comes to trading TRX, it is advisable to use a fast and secure exchange like Godex.io. You can go in and out in seconds with Godex, and the funds are deposited into your wallet without you needing to worry about transferring.
This means you will have your TRX deposited or sent instantly and allows you to look at other trades and building your portfolio in a hassle-free way.