Tron Cryptocurrency: What is Tron coin? TRX Crypto FAQs
Everything you need to know about Tron cryptocurrency tokens - both TRC10 and TRC20 - inside of your Exodus wallet. Find out how to enjoy using Tether (USDT) on the Tron network and much more!
In this Article:
- Further Tron Information
General Tron FAQs
What is Tron?
Tron is a blockchain whose development started in 2017 by a Singapore non-profit called the Tron foundation with CEO Justin Sun. Tron started out as an ERC20 token on the Ethereum network until it was launched to their mainnet Tron network in 2018.
The Tron blockchain is designed to support free digital content in a decentralized way, whilst also ensuring very low transaction fees with its native token Tron (TRX).
What are the benefits of Tron?
Tron supports smart contracts as well as its own TRC10 and TRC20 tokens, you can check out the Tether (USDT) token on the Tron network to enjoy using the stablecoin with no transaction fees by the use of freezing your Tron for resources.
To find out more about Tron freezing as well as Tron tokens, please check out this article: Tron Token FAQs
Tron coin Swap Questions
I have Tron (old) what should I do?
Tron (TRX) migrated out of Ethereum and into its own mainnet blockchain. The swap was exclusively done on exchanges, and the deposit window for the transition closed on June 26th, 2018. Medium - Tron Foundation - Guide to independence
Guide to swap Tron (TRX) to Mainnet
Before you start If you still have any of the old ERC20 TRX tokens in your Exodus Wallet, you will need a Binance.com account, you will not be able to use a Binance.us account as it is not supported on the US version of Binance. Binance.com is the only exchange still allowing you to perform this swap.
First open up your Exodus wallet and find your Tron (OLD) wallet.
- Log into your Binance.com account and go to Funds and then Balances.
- Search for your Ethereum ( ETH) wallet and click Deposit.
- Binance.com will display an ETH Receive address for you to send Ether. It will warn you to only send ETH to this address.
Please note: It will warn you to only send ETH to this address. 99.9% of the time, sending an asset to an unspecified address results in a loss of funds, this is a very unique exception.
- Copy the ETH address from Binance.com and paste it into the Send details in your Exodus Tron (OLD) wallet.
- Select All so your entire TRX balance is added to the transaction. In this example, we're sending 150 TRX (OLD) tokens to Binance. When you are ready, hit Send.
Please note: Because this is an ERC20 token transaction, you will need some Ether (ETH) to pay for the transaction fees.
- You will be able to confirm that Binance.com detected the TRX deposit on your Deposit History.
- After 19 blockchain confirmations, Binance.com will credit your deposit with the same amount of the mainnet Tron (TRX) tokens in your Binance.com TRX Wallet.
Now you can send these Mainnet TRX tokens back to your Exodus wallet, just remember to send them to the mainnet address, which should start with "T".