What is TRON (TRX)?
In 2017 the TRON Foundation was created by Justin Sun TRON (TRX). The project aims to be a content distribution platform which will cater to the entertainment industry. Their blockchain-based decentralized protocol was created to allow users to publish, own and store content anonymously.
The platform’s native token is called Tronix (TRX) which can be used for consumers to pay for the content they want to access on the network. On June 2018, TRON launched of its mainnet, meaning that now it has its own blockchain to which it transferred all the TRX (ERC-20) tokens that were previously issued by the Ethereum blockchain. This day is known by enthusiasts as being the TRON Independence Day.
TRON is currently ranked 13th on the list of the largest cryptocurrencies according to market cap, and at the time of writing has a price of $0.021913 USD, with a market cap of $1,440,705,678 USD.
If you are interested in owning some TRX tokens, you are probably looking for a safe space where you can store them. There are a variety of wallets out there that are TRX compatible, and each comes with its advantages and disadvantages. That’s why you must research and know all the details before making a choice.
The help you with this process, we have compiled a list of the best TRON wallets that you can find in 2018.
Before we start, we recommend when looking into the wallet to keep an eye on a few key features:
- TRX compatibility.
- Private key ownership.
- Ongoing support and upgrades
- Strong security
- User- friendliness
1. TRON Android Wallet
The TRON Android Wallet is officially promoted by the Foundation, and it recommends it to users due to its multifunctional feature. It features an easy-to-use interface as well as a cold wallet set up, which lets you easily store TRX coins.
This wallet is for mobile users and is encrypted by a password. It can be recovered with a 24-word recovery seed, making the wallet even more secure.
This wallet is the most popular for Android users.
2. TRON Web Wallet
Tronscan (TRON web wallet) is an online wallet which offers a quick and easy way of accessing your TRX coins. The wallet offers a simple sign-up process that saves a copy of the generated private key automatically. While the user interface isn’t that impressive, it is easy to navigate and use.
It features information about your transactions, accounts balance, and many more in an accessible manner. Should you want to freeze some coins, you can do that directly from your wallet.
When owning a web wallet, one should take into consideration a few security risks. You should be extremely careful where you store your private key.
3. TRON Chrome Extension Wallet
TRON Chrome Extension Wallet is considered to be one of the best TRON wallets in 2018. The TRX wallet for chrome browser is known for its convenience and use of access. The download and install processes take very little, as well as sending and receiving TRX coins.
As the transactions occur offline the funds are safer from hacking and theft attempts, hence its status as the most recommended TRON wallet. Beginners will struggle a bit at first, but once you get the ropes of how things work, it is a cinch to understand and use.
4. TRON iOS Wallet
This TRON wallet is the newest one in our list when compared to the other contenders. It was created for the exclusive use of iPhone users, receiving support from the TRON Foundation via TRON Loan. This is an open source wallet which is capable of securing private key locally. It provides with one of the simplest user interface, which is quick and easy to navigate.
These wallets secure the top position in the “Top TRON Wallets” based on the user compatibility, security, TRON news, ease of use and ongoing development and support.
5. Ledger Nano S
Ledger Nano S is a hardware wallet, being one of the most hack-proof methods of storing your cryptos. The device is user-friendly and offers compatibility with a broad range of digital assets, which means that you can also store other coins aside from TRON as well. The device looks like a regular USB, and it is made out of durable materials.
Another advantage of Ledger Nano S is that it is compatible with MyEtherWallet. You just have to connect the ledger to a computer and transfer your tokens from one wallet to another. This means that you can always store the coins you want to hodl on Ledger Nano, and the rest that you plan on using for trading on MEW.
6. Trezor Wallet
Another hardware wallet, Trezor features similar functionalities like Ledger. It also has strong security features, as well as a navigable interface that allows you easy access to your coins. The two hardware wallets come at similar price tags, and you can purchase them for around €100.
Trezor differs though in design, being smaller and more compact than Ledger. The entire wallet can be backed up by 24 words that are generated upon setup. The initial 24-word seed is generated by using RNG from the wallet and the computer. This passphrase is created when the device is offline, ensuring protection against online hacking attempts.
If you are looking for secure wallets in which you can store your TRON (TRX) coins, the wallets we presented in our article are viable options that you can look into.