PRESS RELEASE: Why Jinbi might be the most interesting token on the market right now
July 18, 2018A Guide to Cryptocurrency Terminology
July 19, 2018This post originally appeared at Getting Started – Australia Edition – Buy & Sell Tronix TRX
Why are you reading this?
- You’ve read all the news stories about the success of Bitcoin and how Bitcoin has hit recent highs of $US8,000, $US9,000 and now $US10,000
- You’re Australian and can’t figure out how to buy TRON/Tronix, or just haven’t started yet
What is Tronix?
Tronix (TRON) is a blockchain technology which started more recently in the crypto-currency era, which uses peer-to-peer networking technology (like BitTorrent) to create a network of nodes which synchronise every transaction on the network. Transactions between “accounts” are recorded on the blockchain, which keeps record of every single transaction on the network, on every single node – this means that transactions are highly secure, and cannot be reversed. This high security is provided by a process called “mining”, which requires the transactions to be “hashed”, a process of computing large amounts of random jibberish to a certain specification (let’s call if difficulty) such that when the specification is met, transactions which are used to compute that jibberish, are committed to the network and through a process of synchronising and voting, are rendered permanent. What makes Tronix more appealing is it’s focus on ‘fixing the internet’, and it’s real world use in existing markets like the OBike bike hire app.
How to Buy TRON in Australia with CoinSpot
CoinSpot is one of the best websites for Australians to get started with buying and selling TRON, Litecoin, Bitcoin, Ethereum and all sorts of other cryptocurrency; the process is quite simple too.
- Signup to CoinSpot
- Verify your identity (most sites require a copy of your drivers license / passport)
- Buy TRON by securely transferring funds instantly with your bank account (using Polipay, a service which appears to be created by Australia Post)
Simple!
TRON Security
What’s different with crypto-currency, is that you are even more responsible for securing your new found money. If your CoinSpot account is hacked, it’s easy for someone to send the TRON in your account to their own account, and at that point, it’s gone forever.
You MUST secure your account, your computer, and any other devices you use to login!
- Add Two-Factor Authentication to your account – CoinSpot uses the Google Authenticator to verify that it’s you; if you’re prone to losing your phone, you need to be a little bit more responsible…
- Never disclose your wallet/account addresses to anyone on social media – if someone has your address, they can easily query the balance of your account, and target you
- Once you have funds in your CoinSpot account, transfer them to a new account which is not held on CoinSpot or any web based account!
- Better yet, invest in a hardware wallet such as the Trezor Wallet or Ledger Wallet Nano S
Great, now what?
Now you do whatever you want to do with your TRON. Watch the price soar, hoping it will net you millions of dollars. The beautiful thing about CoinSpot, is that Australians can easily buy and sell TRON and transfer it to other parties with ease. You can quickly and easily just buy TRON on Coinspot.
Relevant TRON Links
- Exchanges
- Books
- Australian Crypto Currency community that runs a Slack channel and provides a number of great guides and blog posts
- Living Room of Satoshi – pay any bill in Australia!
- Hardware Wallets
