How to buy Tron (TRX) from Australia

By   |   Verified by David Boyd   |   Updated 29th August 2022

  • Tron was created by Singapore-based Tron Foundation.
  • Its aim is to disintermediate the market for content creators and artists.
  • TRX, Tron's token, is ranked as one of the largest coins by market cap.

You can buy Tron (TRX) in Australia by opening an account on a TRX-supported crypto exchange.

New to crypto? Here's a complete guide to buying Tron in Australia from beginning to end.

Where to buy Tron

Swyftx

On Swyftx's website

Highlights

  • Receive $10 worth of BTC when you sign up and verify your account.
  • Trade over 260 assets on Swyftx including Bitcoin, Ethereum, Ripple and Litecoin as well as DeFi coins such as UniCoin.
  • Deposit or withdraw funds from your account using several payment methods (PayID, OSKI, POLi or bank transfers).
  • New to Crypto? Try Swyftx's demo mode, it allows you to mock trade with no financial risk while you learn the ropes of crypto trading.

Pros

  • Trade more than 300 crypto assets through the Swyftx platform.
  • Offers tight spreads and low trading fees.
  • Get support within 5 minutes through their live chat.
  • Practice trading with a demo mode.

Cons

  • Lacks access to advanced trading markets.
Digital Surge

On Digital Surge's website

Highlights

  • Trade 270+ crypto assets in a clean design that's easy and fast to use.
  • Live chat support available 7 days a week with average response times of less than 1 minute.
  • Invest in crypto for your SMSF and get ATO compliant reporting.

Pros

  • Quick sign-up and verification process.
  • Fees are low and the fee structure is clear.
  • Has an Australian-based support team.

Cons

  • For fiat deposits, AUD is the sole choice.
CoinSpot

On CoinSpot's website

Highlights

  • Buy Bitcoin, Ethereum, XRP and over 370 other digital currencies.
  • Refer a friend and earn $10 BTC.
  • Get 24/7 helpdesk support.

Pros

  • Trade for only 0.1% and withdraw in AUD for free.
  • Multiple deposit options.
  • Access CoinSpot NFT Marketplace.
  • CoinSpot is regulated by AUSTRAC and is ISO certified

Cons

  • Margin trading is not available.
eToro Crypto

On eToro's website

Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.

Highlights

  • Access thousands of assets across multiple categories.
  • Copy trades of popular investors that trade Crypto.
  • Access powerful analysis tools and innovative social features.

Pros

  • The user-friendly website and app make it easy to trade from anywhere.
  • Trade Bitcoin, Ethereum, and 60+ other crypto assets.
  • With its CopyTrader feature, you can replicate the moves of other investors.
  • Start trading with just $10.

Cons

  • There is a 1% fee that is added to the market price.
  • Other exchanges have more selections of crypto coins and tokens.
CoinJar

On CoinJar's website

Highlights

  • Buy and sell digital currency on desktop and mobile devices with a flat 1% fee.
  • Buy digital currencies using your Visa or Mastercard with a low fee of 2%.
  • Set up price alerts so you never miss a well-timed opportunity.

Pros

  • Extremely user-friendly interface.
  • You can use a credit card or debit card to buy crypto.
  • Has a competitive fee structure.

Cons

  • Limited crypto tokens to trade compared to other platforms.

Step 1: Choose what exchange to buy Tron on

Tron is one of the largest cryptocurrencies by market cap and is available to buy on a number of crypto trading platforms. Locating an exchange that sells Tron will not be a problem. But that doesn't mean you should sign up for the first one you see.

When selecting a crypto exchange, there are a few different aspects to consider. For instance, whatever exchange you use must be highly secure, which is why you should look for features such as offline cold storage for digital assets, insurance, and 2FA-enabled authentication. Take the time to review trading fees or spreads as well as fees to deposit or withdraw funds. These vary widely between exchanges.

Although new traders might not necessarily use every feature available from day one, having access to margin plus loans and staking can be useful as you develop your trading skills.

Step 2: Sign up

When you've selected your preferred exchange, you'll need to sign up for an account and then verify your identity.

The majority of exchanges require your full name as well as your date of birth and street address. Some exchanges allow users to trade anonymously (with limits), but most require a verified identity before you can start trading. To get verified you'll probably have to provide a copy of government-issued photo ID. Some exchanges require a selfie while holding the ID.

Step 3: Fund your account

If you have some cryptocurrency already, you can use it to fund your account and then exchange it for Tron.

For those who are brand new to crypto, you can fund your account with fiat currency (AUD) from your bank account, credit or debit card. Osko, PayPal, PayID, POLi, etc. may also be accepted.

Don't be surprised if it takes a few days for funds to clear into your account and be available to trade with. Some exchanges may require a minimum first deposit to activate the account.

Step 4: Set yourself a budget

Decide how much Tron you'd like to purchase before placing an order. Crypto asset prices can be extremely volatile, so you should only invest money that you can afford to lose in the event of markets dropping suddenly.

Step 5: Buy Tron

Often called instant buy, market orders let you buy Tron for the current market price with a single click (or tap). There is a possibility of slippage in a fast-moving market, i.e. what you actually pay is slightly above or below what you were quoted.

If you want more control and don't need to buy immediately, you can configure a trigger order to buy once specific conditions have been met.

Another way to buy is with a recurring order. This type of order lets you buy Tron on an ongoing regular basis of your choosing, i.e. buy $100 dollars of Tron once monthly. The benefit of this is known as dollar cost averaging.

Where to store your Tron

You can store Tron and other crypto in the wallet on the exchange. Doing so makes it convenient to react to the market and trade responsively.

For a more secure way to store your Tron, transfer it to a hard wallet. These are not connected to the internet, so they cannot be hacked as easily. But there is a drawback. If you forget or lose the key to your hardware wallet, you won't be able to access what's on the device.