From absolute obscurity to being a top 5 market cap crypto, TRON (TRX) is one of the fastest growing cryptocurrencies today. Unlike Bitcoin and Ethereum, TRON is not easily available for purchase in Indian exchanges. However, one can purchase TRON We explore a secure way where one can buy TRON (TRX) in India in INR.
How to buy TRON (TRX) in India:
Since TRX is not easily available on the major Indian crypto exchanges, one will have to buy Bitcoin/Ethereum and exchange it for Tron. Below are 4 simple steps to do so:
1. Buy Ethereum on an Indian exchange
Ethereum is both faster and cheaper for transactions than Bitcoin. So, one may buy Ether tokens on an Indian exchange like Koinex by registering on their platform and completing the eKYC process and bank linking process.
2. Setup an account on Binance and move your Ether tokens
Crypto exchanges like Binance allow traders to buy alt coins like TRON by using Ethereum or Bitcoin. We recommend that you use 2 factor authentication to secure your account.
Once your Binance account is setup, transfer your Ether from Koinex to Binance.
3. Exchange your Ether tokens for TRON
Binance has a live buy/sell portal where one can execute buy trades with Ether tokens.
Is TRON legal and regulated in India?
RBI has issued 3 warnings warning Indian cryptocurrency investors on the risks of users buying cryptocoins like Bitcoin and ICO tokens. RBI has stated that it has no regulation or authorization for use of cryptocurrency in India. Because there is no RBI regulation, legality is still in the gray area.
FAQ – Frequently Asked Questions
What is TRON?
TRON is a decentralized entertainment content sharing platform that leverages blockchain. Currently, content companies like Facebook and Twitter own user data. TRON wants to mitigate this control by letting users own their content and data.
What are the benefits of TRON?
- Free and uncontrolled data
- Supports Content ecosystem where users can obtain digital assets
- Supposed partnerships with NASDAQ listed companies with over 100 million users (to be announced on Jan 8th, 2018)
What documents are needed for eKYC to buy in India?
- Aadhaar card
- PAN Card
- Bank documents – Canceled Cheque (or) Passbook