Tron (TRX): Benefits, Features, and How to Accept Payments

Launched in 2017 by Justin Sun, TRON quickly became popular due to its high transaction speeds, minimal fees, and decentralized architecture. TRX is used not only as a medium of exchange but also as a tool for blockchain technology development. 

In this article, we will analyze what Tron is, its key advantages, and how to efficiently organize payment acceptance with its help. 

What Is Tron (TRX)?  

Tron (TRX) is the cryptocurrency of TRON, a decentralized DApps application development platform founded by Chinese entrepreneur Justin Sun. 

The coin was originally powered by Ethereum, but later moved to its own blockchain. It includes 3 layers:  

• core — modules for smart contract, consensus, and account management; 
  
  
• application layer — provides tools for creating DApps; 
  
  
• storage level — stores blocks and their statuses. 

TRX uses a special P2P consensus algorithm called Delegated Proof-of-Stake (DPoS). Due to this, the generation speed of new blocks is at most 3 seconds.  

The TRX network can be used to develop decentralized software in various program languages, mainly Java. The platform can also distribute entertaining video content.  

Tron (TRX): Brief History  

In 2017, Justin Sun announced the intention to launch a platform on which software developers could create decentralized applications (primarily entertainment) and offer them to end users without intermediaries. The service was to run on blockchain, and its settlements between users were to be conducted in its own cryptocurrency.  

In 2017, an ICO launched the platform and its token, raising $70 million in investment. In the fall of 2017, Sun launched the service and simultaneously issued the token. In early January 2018, the coin reached a capitalization of $18.9 billion. 

Today, TRX exists beyond its parent platform. It is widely used as a means of payment and is among the most popular cryptocurrencies.  

Benefits of Accepting Payments in Tron (TRX) 

Here are the main advantages of the Tron (TRX) cryptocurrency:  

• Low fees. Unlike other cryptocurrencies, transactions on the TRON network have extremely low fees. This allows businesses to save money, especially when conducting a large number of microtransactions. TRX transfer fees are typically only a fraction of a percent, making this payment method cost-effective for businesses of all sizes. 
  
  
• Transaction speed. The maximum number of transactions on the TRON network is 2,000 per second. This fast processing makes transactions almost instantaneous. 
  
  
• High level of security. Since TRX operates on a blockchain, third parties cannot obtain counterparty data. The only information available is wallet numbers, by which they cannot be identified. 
  
  
• Decentralization. TRON is a blockchain platform, which means no central authority controls the network. This ensures independence from banking structures and government regulators, which is especially important for international businesses. 
  
  
• Liquidity. TRX is one of the most liquid cryptocurrencies on the market. It ranks 10th in the top cryptocurrencies by capitalization, and is supported by many exchanges and platforms. This allows TRX to be quickly exchanged for other cryptocurrencies or fiat, which simplifies financial transactions for entrepreneurs. 

How to Accept Payments in Tron (TRX)? 

There are two main ways to accept Tron payments: directly to the wallet and with the help of crypto processing. Let's consider each of them.  

Cryptocurrency wallet 

The simplest way is to provide customers with the address of your Tron wallet. To do this, the business owner needs to create a wallet, for example, using the TronLink service, and send the client a public address to transfer funds. The advantage of this method is that there is no need to integrate third-party services.  

Nevertheless, this option of accepting payments has some disadvantages. The main one is the manual processing of the transaction from the moment the order is placed to the confirmation of payment. This option is suitable only for businesses with a small payment flow.  

Crypto processing  

Connecting a crypto processor is a more advanced and convenient way of accepting payments. Such services allow business owners to automate the process of receiving payments in cryptocurrency and offer a wide range of functionality. These usually include transaction analytics, payment links creation, auto conversion of funds, AML checks, and more.  

In addition, the services charge low commissions (about 1%) and automatically convert the order amount into cryptocurrency. The buyer only has to transfer funds to the right wallet address, and the system will track and confirm the payment.  

Connecting Crypto Processing  

The process of integrating a cryptocurrency payment gateway depends on the chosen platform. Let's consider the connection on the example of CryptoCloud: 

1. Registration on the system's website. For this purpose, e-mail and Telegram will be required. 
   
   
2. Adding a project. In your personal cabinet you need to click on «Add a project» and fill out a small form, as well as choose one of the options: accepting payment on the site or through invoicing (payment links). Merchants can add several projects to one personal account. 
   
   
   
3. Integration. There are several ready-made options available for this: API, plugins for CMS, HTML widget. The service provides step-by-step instructions that will allow you to perform integration within a few minutes. 
   
   
4. Testing. After adding a project, a test mode is enabled to check the correctness of the connection. 

The process of integration takes a few minutes, after which the merchant can immediately start accepting crypto payments.  

CryptoCloud provides several benefits for entrepreneurs, including low commissions (from 0.4%), support for popular cryptocurrencies, auto conversion of incoming payments to USDT and the ability to choose the payment side of the service and blockchain network fees.   

Tron — a Convenient Tool for Accepting International Payments 

Tron (TRX) is a native cryptocurrency of the TRON, which is perfect for accepting payments in the current conditions. Low fees, high transaction speed and security make TRX attractive for both businesses and customers. Using CryptoCloud, merchants can easily set up TRX payment acceptance on their sites, providing customers with convenience and security.  

Benefits of CryptoCloud include easy integration, support for various cryptocurrencies, and the ability to automate payments. Connecting crypto processing will help you expand your payment methods and attract a new audience willing to pay for goods and services using cryptocurrencies.