TRON cryptocurrency reviews, are TRON cryptocurrency a good investment?
TRON, maybe this cryptocurrency is not that tempting for some crypto enthusiasts, but TRON is one of the many cryptocurrencies on the exchange.
TRON was known at press time, ranking sixteenth out of all cryptocurrencies that number more than one thousand and six hundred different types of tokens. With a market capitalization of over $ 1 billion and currently priced at $ 0.025716.
This article will discuss everything related to TRON, and also predict the future of TRON whether it is feasible as an investment asset or should be avoided.
What is TRON Cryptocurrency?
TRON is a cryptocurrency created by a man from China named Justin Sun, through TRON he wants to challenge the world's leading content providers, such as Facebook and YouTube.
Just like other cryptocurrencies, Tron is a blockchain platform designed to share content on the internet.
This platform is especially aimed at creative people, artists, writers, and the like.
You could say TRON is a competitor to Amazon, YouTube, Apple, or Facebook.
Justin Sun who was included in the Forbes 30 "under 30" list for the Asia region in 2015, has also worked for another cryptocurrency, namely Ripple.
Tron can be used on a platform called Tronix. Simply put TRON is a decentralized entertainment platform as a place to share and create content, with Tronix as the base blockchain and TRX as the paying token.
Unlike the Facebook or Youtube platforms where without your knows they use your data for their business interests, the difference of TRON is claimed to compensate for content that you create yourself.
So far, Tron has partnered with several big companies, such as Baofeng, which Justin refers to as 'Netflix of China' and oBike, a bicycle-sharing service provider from Singapore.
The plan, Tron will hook oBike to release oCoins on the Tron platform, which is an incentive for riders as they ride more.
Besides that, the cryptocurrency has also obtained some investments from big companies, such as the Alibaba and Microsoft development team and Wei Dai, founder of a bicycle-sharing company called Ofo.
Even though it is not as big as Bitcoin or Ethereum, it has started well as from the gaming sector by launching Tron Puppies which will be on game.com.
TRON cryptocurrency history
Previously TRON used the ERC-20 platform which is the Ethereum platform, but eventually launched its main network and left the ERC-20 platform.
From several facilities, Tron is similar to Ethereum, therefore some say TRON is the second version of Ethereum.
Both use smart contracts that use Solidity, and the availability of the token feature.
But the difference is that if Ethereum uses the ERC-20 token standard, there are two types of tokens in Tron, namely TRC-10 and TRC-20.
Both have quite different characteristics.
The TRC-10 is much simpler when compared to the ERC-20. TRC-10 has a low level of difficulty, so that anyone, including those who do not have good programming skills, allows them to develop applications more easily.
TRC-10 is managed by the Tron system where the person who will make an application with TRC-10, one has to pay a fee of 1,024 TRX (the main coin in Tron), which is paid only once at the time of the creation of the TRC-10 token.
TRC-20 in Tron is designed to be a challenge to ERC-20 within Ethereum.
TRC-20 is also compatible with the existing scripts in ERC-20, so any developer who was using ERC-20 can switch to TRC-20 immediately without having to recode their script.
TRC-20, running smart contracts requiring bandwidth, the user also needs power.
This power is a transaction cost model for running smart contract scripts in a Tron Virtual Machine (TVM) which of course requires computational resources such as CPU and memory.
The total power needed, of course, depends on how complex the TRC-20 script is designed.
Of the two types of tokens, according to user needs, TRC-10 provides a token that is simple and easy to use. TRC-20 has a full-featured token.
Who owns TRON cryptocurrency?
Behind TRON is the name Justin Sun who became the founder of Bittorent and founded the TRON foundation, which later became CEO of the company he started.
He is a young man born in 1990 who has achievements as a reliable entrepreneur, together with Bittorrent managed to make history in his life which he also founded Peiwo.
Peiwo is an app that aims to become a Chinese Snapchat to connect users by analyzing a 10-second sound sample.
Justin Sun's education story earned his M.A. from the University of Pennsylvania in East Asian Studies. He also received a B.A. from Peking University. He is also the former deputy head of China's Ripple region.
He was one student Jack Ma chose to attend Hupan University when he was only 26 years old. Besides, she was the cover model for Yazhou Zhoukan in 2011; Davos Global Youth Leader in 2014.
How do TRON works?
The way TRON works is also similar to the Ethereum blockchain, they have the principle that all data on the network is free and not controlled by a central authority.
Content creators may acquire TRX digital assets or other TRX-supported tokens in return for their content.
On the TRON platform, creators can generate their tokens to use in their Dapps on the network.
The final stage of the network development plan includes network gaming support.
It will be completely decentralized and users will be able to reward the creators directly if they enjoy the game with their digital assets.
TRX coin transactions take place in a public ledger that records the history of each transaction.
The TRON transaction model has improved the Bitcoin model by providing an additional security system called UTXO.
In the UTXO model, there is a basic output which is an amount of money sent to the user's TRX address along with a set of rules that will reveal that specific amount. The result is an output called UTXO.
TRON cryptocurrency where to buy?
TRON is already widely traded on major exchanges such as Binance, or Coinbase, if you already have an account on these exchange platforms, you can easily choose TRON for whether it is traded or for investment.
Before you buy TRON, just like any other cryptocurrency, you need a wallet to store your TRON, TRON wallet is also ERC-20 compatible, you can create a wallet as a means to receive and transfer money.
Here are some of the exchanges you can buy TRON on through their platforms.
Kraken is suitable for both beginners and experienced, low fee with a user-friendly platform, you can buy not only TRON there, but many other crypto tokens can be traded.
The intuitive graphic display gives a different impression when you are trying to view historical prices.
Kraken supports several transfers and receives money methods, with the option of FewWire, SWIFT, Silvergate Exchange Network, Canadian domestic wire transfer, In-person cash/debit via Canada post, InterFIn, FPS/BACS (Clear Junction), CHAP, and SIC.
You can also buy TRON on Exmo, this is an exchange based in the UK with service coverage in several European countries, namely Turkey, Ukraine, Russia, and the UK
Operating since 2013, with significant growth.
How to buy cryptocurrency on the EXMO exchanger, you must first register and then deposit a certain amount of money in a trading account.
TRON pairs USD on their platform with the ticker TRX/USD, and uses the Tradingview platform to monitor price changes.
Another exchange is Bitfinnex, where you can buy TRX on their platform, for general steps are to register, then verify either email or KYC, then deposit crypto transactions on the exchange.
Bitfinnex is also one of the leading exchanges and many investors have joined their network.
Coingate is a payment gateway company, which started operations in 2014 in Vilnius, Lithuania.
Coingate's growth was very high in 2018 and has spread in 100 countries based on information from the Coingate official site.
You can check if your country is covered by the Coingate service, you can see the list of countries on their support page.
The exchanger above is just an example of whether you want to buy TRON, you can also go through other exchangers such as; BCBitcoin, Switch here, CEX. io, Prime XBT, etc.
Future of TRON cryptocurrency
Some analysts predict that the future of TRON is unfavorable because the reason that Justin Sun's relationship with Jack Ma raises the question of whether there will be a merger or merger of the two entities in the future.
News of events like this will be a big deal and will certainly launch Tronix on a path that is clear and guaranteed to be its success.
TRON is indeed a new product, but that doesn't make you too optimistic about TRON's future. The negative view of Sun began in 2018 when news broke that Tron used some Ethereum code and violated Ethereum's copyright license.
Justin Sun also recently accused Filecoin's developers of using an exit scam strategy by selling their 1.5 million FIL tokens for $ 200, without the consent of the community.
Through Twitter, he conveyed the accusation by mentioning the name @juanbenet @Filecoin @VitalikButerin @SEC_Enforcement.
TRON cryptocurrency predictions
Some analysts estimate that TRON's future is not good because one of them is the attitude of the founder Justin Sun who is considered less communicative, but apart from that, is the forecasting site Tron also predicted to experience a decline? Check out some of the predictions for TRON below.
Gov Capital Tron price prediction
Gov Capital, one of the leading forecasting sites predicts that the TRON price in the next one year will experience a decline, the current price is $ 0.025811, and it is predicted that in 2021 October 17, Sunday the price will fall at $ 0.005638 or a decrease of -78.064%
Short term prediction
The highest price on the short-term prediction is expected at $ 0.029 and the lowest price is expected at $ 0.024, the price prediction occurs several times both swing highs and swing lows so traders look for opportunities from swings with reference highs and lows.
Source Gov capital.
Long term prediction
The long term TRON prediction is expected to be in a bearish trend, with up and down waves as well as Elliott waves, at $ 0.0188 in early January 2022.
Source gov capital.
Wallet investor TRON price prediction
The investor's wallet forecasting site also predicts that TRON will decline in the next year to $ 0.0224 from the current price of $ 0.025. Based on this prediction TRON is not a good investment asset in the next one year and if it invested $ 100 today that value could decline in the next year.
Short term prediction
In the short term forecast, the Tron price is expected to be a high of $ 0.028 with a low of $ 0.024 for the next fourteen days prediction early November.
Source wallet investor.
Long term prediction
Not experiencing much change in the long-term prediction by wallet investors, it is expected that the price will fall in the range of $ 0.0224, which means it will decline in early 2022.
Source wallet investor.
Tradingbeast TRON price prediction
Tradingbeast predicts that the TRON price at the end of 2020 will reach $ 0.0324578 with a minimum price of $ 0.0275892 and a maximum price of 0.0405723.
The predicted 2021 price of TRON is expected in December of $ 0.0365575 with a minimum price of $ 0.0310739 and a maximum of $ 0.0456969.
The 2022 forecast for TRON price is expected in December $ 0.0434292 with a minimum of $ 0.0369148 and a maximum of $ 0.0542865.
2023 forecast TRON price expected December at $ 0.0505904 with a minimum of $ 0.0430018 and a maximum of $ 0.0632380.
The conclusion of the overall TRON prediction by Tradingbeast is expected to experience a significant price increase. This differs from the predictions of the two previous sites, both Goc Capital and Wallet Investor.
Coinliker TRON price prediction
Coinliker predicts TRON price in the next year 2021 TRON price is expected to increase at $ 0.137567, and the next three years 2023 forecast price at $ 0.445516 and the next five years forecast 2025 at $ 0.787541.
The conclusion of the overall forecasting of TRON by Coinliker is that it has increased, meaning that it is expected to be a profitable asset.
Digitalcoin TRON Price prediction
Digitalcoin predicts the TRON price in the next five years in December 2025 is expected to reach $ 0.12782246, predictions for 2021 to reach $ 0.07140288, predictions for 2022 to reach $ 0.07597256, 2023 to reach $ 0.05388075, 2024 to reach $ 0.10027746.
TRON cryptocurrency analysis 18 October 2020
TRXUSD on the Kraken platform shows currently at $ 0.025720, with a 0.05% increase, a daily volume of $ 781 million, the price changes are not very large. The daily timeframe shows that sideways market conditions are more dominant in the market for several weeks.
Chart by Tradingview.
From the image above we can see the Bollinger bands indicator starting to squeeze, as an indication that volatility has decreased.
In this situation, conservative traders will usually look for opportunities in the upper and lower bands as a reference.
The overall pattern currently includes lows, where the highest TRON price occurred in September 2020 with a value of $ 0.049900.
Meanwhile reading the current MACD shows that the bearish trend is dominating, this is the reason that the MACD line is below the signal line and the Histogram is below the zero levels.
Chart by Tradingview.
In the short term, the TRON price analysis tends to be in a bearish trend that dominates more. The 1H timeframe also shows low volatility which is indicated by the narrowing of the two Bollinger bands lines.
Short-term speculation will usually look for opportunities when the price has reached the upper band.
While the 1H RSI provides bearish signals through the MACD line and a signal line. And RSI 1H provides a bearish indication from the 46 levels which is shown by this indicator indicating bearish and has not reached oversold.
Some TRON forecasts show that the possibility of future prices will decrease significantly, while several other forecast sites show a possible increase in prices.
This may lead to confusion over which novice investor to follow his advice. However, crypto investing also has its risks where not all speculators will get the gain as expected.
What needs to be concerned about asset growth is news about the asset, good news can increase the value of the asset, while bad news can reduce the value of the asset.
By following the latest news on developments TRON can help you to try to evaluate your investment.