At the end of this lesson, you’ll have learned why you should trade ETH for TRX, the types of crypto exchanges, and the reasons to pick decentralized over a centralized exchange. Completing an ETH to TRX exchange is an easy process if you know how. Let’s see how you can handle the exchange within a few minutes. Off we go!
Having an ETH/TRX Pair
For a coin exchange to be profitable, your pairing has to be carefully thought through. ETH and TRX are a pair that comes to mind often, and we’ll see if it is a wise choice to make.
What Is ETH?
Ethereum is a decentralized and open-source software platform that was launched in 2015 on blockchain technology. This platform allows programmers to build Đapps — Distributed Applications — and SmartContracts in the absence of third-party fraud, downtime, control, and interference.
Ether (ETH) is a token to access all features available on Ethereum. The coin is chiefly used by developers to build and publish SmartContracts on the platform. It is, however, also valuable crypto that is accepted on any platform.
What Is TRX?
Tron is a Singaporean platform launched in 2017. TRX uses blockchain and P2P technologies to form a network that allows media content to be shared and accessed globally at lower costs by cutting out the middleman.
TRX is the means of payment on the Tron platform. It is paid by viewers of content to the producers of the content. It is like the cash you pay on Netflix to watch movies.
Reasons to Exchange ETH for TRX
Diversification of Assets
By having a considerable ETH to TRX exchange, your crypto portfolio is diversified, which is a good thing. A portfolio that contains several coins in calculated percentages is highly unlikely to result in an overall loss.
Trading history favors TRX, considering that the coin hardly depreciates. TRX has maintained a steady upward climb since its launching.
Promising Price Returns
Forecasters predict appreciation in the price of TRX. CoinLiker, for instance, predicts that the coin will be worth $0.50 in a few years.
Choosing the Right Way to Exchange
Types of Crypto Exchanges
- Broker: A broker service is a legal, centralized exchange platform that operates within its local laws.
- Instant: This is a decentralized app that fosters the exchange of tokens instantly, usually within a minute.
- Hybrid: As you may already think, this is a platform that combines the best features of a broker (centralized exchange) with the best of instant (decentralized exchange).
Centralized or Decentralized?
A centralized platform of exchange is one that concentrates powers in the hands of particular personnel, usually the owner of the service.
This exchange platform spreads equal power throughout the hands of every user on the platform.
Reasons to Use a Decentralized Exchange
Direct Control Over Funds
Since power is not held in a single capacity, you have direct control of your coins and funds.
Instant platforms charge smaller percentages on your funds, unlike brokers who demand something higher.
You can complete an ETH to TRX exchange on a decentralized system within minutes — often seconds, in fact.
Zero Possibility of Fraud
You’re dealing with an automated system on a decentralized platform. There’s no possibility of someone defrauding you.
Steps to Exchange Crypto on a Decentralized Platform
Choose a platform
Find a trusted decentralized platform — for example, Godex.io.
Select the Exchange Pair
Select the pair of coins to be exchanged (for example, ETH and TRX).
Enter Your Wallet Address
Paste your wallet address in the provided field.
Make the Deposit
Enter the number of coins to exchange and proceed if you agree with the displayed corresponding amount.
Go ahead with the exchange and wait some moments for your wallet to reflect the transaction.
ETH to TRX exchange is highly advisable. This is due to the diversification offered, good returns, and the promising future of the former. When making an exchange, use a legitimate, instant decentralized platform like Godex.io.