Tron is a blockchain-based operating system by Justin Sun with the aim that it enables fast transactions on daily use. Bitcoin handles up to six transactions per second, and Ethereum on the other hand handles up to 25 transactions per second, while Tron can handle about 2000 transactions per second.
Where Can I Buy Tron in Nigeria?
Nigeria has placed a ban on cryptocurrency so you can’t easily purchase it with your ATM cards. The two ways to buy cryptocurrency are through P2P on Binance or you can buy it from a cryptocurrency vendor, however, the latter is usually filled with scammers. Follow the steps below on how to buy Tron in Nigeria via Binance:
1. Convert your money to dollars
Most platforms that sell Tron mostly calculate their prices in dollars. As of now, the naira is 480/$1. That means if you’re buying 10,000 nairas worth of Tron, it will be around $21. You can search for converter apps or websites on Google and use them for conversion.
2. Download and Install Binance
There are several other platforms you can use but Binance has the best rate and a high trust score. However, you can’t buy coins with any amount less than 6000 nairas.
You can use the Binance web version or the app (available for both Android and iPhone).
3. Create an account
You’ll register with both your email and phone number. Make sure the details you enter are correct.
4. Go to P2P trading
After setting up your account and verifying it, you’ll be taken to the homepage. On the homepage, you’ll see “P2P trading”. Click on it.
5. Choose a rate
On the new page that opens you’ll see a “Buy” and “Sell” tab. Stay on the Buy tab. Below the tab, tap on “USDT”. Check the top of the screen, you’ll see a currency tab. If it is not in naira, tap on it and change it to naira.
Then start looking at the rates on the screen. Below the rates, you’ll see the available amount the person has to sell. If the rate is suitable for you and the available amount of USDT the person is selling is around what you need, then tap on the seller.
You can’t buy Tron directly on Binance, you’ll have to first buy USDT then convert it to Tron.
6. Input the amount
The next page that appears will tell you to enter the amount you want to buy. If you’re buying 10,000 naira own, input it. Then tap on continue.
7. Pay the vendor
The vendor’s account details will be shown to you. Copy it then head to your bank app and input all those details, then transfer the money to the account. Make sure you complete the payment before the 15 mins grace window closes.
After paying, quickly return to Binance and tap on “Transferred”. Follow the on-screen instructions until you’re done.
8. Await your USDT
Binance will tell you the USDT will take a few minutes before it arrives in your wallet because the vendor has to confirm your payment. When the vendor sends the USDT, Binance will notify you via a text message to the number you used to register.
9. Go to your wallet
Return to Binance homepage. On the screen, you’ll see “wallets”, tap on it. New tabs will appear. Look for the P2P wallet then tap on it. That is where your USDT will be.
10. Transfer it
You’ll transfer it from your P2P to your Spot wallet.
Tap on the transfer option. A new page will appear showing “From” and “To”. Make sure the From is P2P and the To is Spot.
11. Convert USDT to Tron
After transferring it, your USDT will be in your spot wallet. Now go back to Binance Homepage and tap on “Traders”. Choose “Spot” from the options that appear above. Then on the far left corner of the screen, you’ll see BTC/USD. Tap on it then search for TRX/USDT and click on it when you see it.
Now choose the “Buy” tab. Below it, you will change the “Limit” option to “Market”. Just tap on it and choose Market from the list.
Now you’ll see a bar showing 25% 50% 75% 100%. Tap on 100% (this means you’re using all your USDT to buy it). Tapping on 25% 50% or 75% means you’ll be using a fraction of your USDT to Buy Tron”.
At the bottom, you’ll see “Buy Tron”. After successfully buying Tron it will appear in your spot wallet.
With big corporations adopting cryptocurrencies as a form of payment or using the utility that a cryptocurrency provides, we have seen massive adoption in cryptocurrencies, and what this means is that they will rise in price, making those holding the coins richer. We made sure this guide covers everything you need to do step by step so you too can hold a cryptocurrency, or buy it and use it for whatever purpose you desire.