What is TRON (TRX)? – Crypto Betting Guide
TRX (Tron) is one of the most popular cryptocurrencies with fast transactions. At Stake.com , you can easily bet on casino games and sports events with TRX .
But before using TRX, let’s first understand how it works and how it differs from other cryptocurrencies.
What is TRON (TRX)?
Tron is a blockchain platform that provides an environment for enterprises and developers to build and run decentralized applications (dApps). Tronix, or TRX, is the native currency on the Tron network and can be used for fast online transactions.
Initially, Tron was designed to help content creators freely share and profit from their content. However, the Tron Foundation, which is responsible for maintaining the Tron network, later redesigned the platform architecture to make it more suitable for the development of decentralized applications.
Similar to cryptocurrencies such as Ethereum , TRX is particularly suitable for fast and secure transactions. As long as the other party has a valid TRON wallet address, you can quickly transfer TRX to them. In addition, you can also get rewards by staking TRX, which encourages long-term holding of coins while eliminating the trouble of traditional Bitcoin mining.
History and operation of TRON
TRON development milestones:
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July 2017 : Justin Sun established the TRON Foundation in Singapore.
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September 2017: TRON ICO raised $77.71 million.
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March 2018: TRON testnet, blockchain browser and web wallet were launched.
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May 2018: TRON mainnet is officially launched.
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June 2018: TRON migrated from ERC-20 tokens on Ethereum to its own mainnet.
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July 2018: TRON announced the acquisition of BitTorrent, a well-known peer-to-peer file sharing platform.
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January 2019: TRON’s market capitalization reaches $1.6 billion.
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2021: Justin Sun resigns as CEO of the Tron Foundation, and the Tron Foundation is reorganized into a decentralized autonomous organization (DAO) governed by user voting.
How TRON works:
TRON was originally an Ethereum ERC-20 token that runs on the Ethereum blockchain , so it has many similarities with Ethereum, but there are also obvious differences.
The TRON network allows users to earn rewards by staking their TRX tokens. The amount of staked tokens determines the user’s voting rights in TRON governance. Staking TRX also earns bandwidth points, which are used to support transactions on the network.
Transactions on the TRON network are packaged into the blockchain like other cryptocurrencies. But what is different is that these blocks are created by nodes called “Super Representatives”, who are voted in by TRX holders. Tron Power is used for voting, and 1 staked TRX is equal to 1 Tron Power.
Although TRX does not support mining, you can buy it directly on reliable exchanges or through channels such as MoonPay and Swapped . In addition, by staking TRX, you can gradually gain additional income and increase your total currency amount.
How to deposit and withdraw TRX on Stake?
Recharge method:
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Log in to your Stake account and open your wallet.
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Choose to deposit or buy crypto.
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If you already have TRX, just choose to deposit and copy the TRX wallet address provided by the platform.
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Paste the address into your personal wallet and confirm that the address is correct before sending the coins (because blockchain transactions are irreversible).
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Once the transaction has received enough network confirmations, you can start placing bets.
If you don’t have TRX yet, you can use MoonPay or Swapped to buy it with local currency , and then recharge it to Stake.
Withdrawal Methods
Follow these steps to withdraw TRX from your Stake account:
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Log in to the Stake wallet page and make sure your balance meets the minimum withdrawal requirements.
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Copy and paste your wallet address and double-check it.
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Simply enter the withdrawal amount and confirm the transaction.
If you have any issues when trying to deposit or withdraw , you can refer to the instructions in the Help Center or contact Customer Support for assistance.
Comparison of TRX with Ethereum and other currencies
The Stake platform supports a variety of popular cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), EOS , Solana (SOL), BUSD , Dogecoin (DOGE) and USDT , etc. Each coin has its own advantages and characteristics.
TRON (TRX) has a lot of similarities to Ethereum, as it was originally issued on the Ethereum chain. Both can be used for fast transactions and both support staking rewards. However, TRX transaction fees are significantly lower, while Ethereum transaction fees can sometimes be annoyingly high.
TRX has extremely fast transaction speed and extremely low handling fee, similar to USDT. However, unlike USDT, TRX transactions are limited to the TRON network, and you cannot freely choose other networks for transfers. This makes using TRX simpler and more direct, but the freedom of network selection is relatively limited.
The benefits of staking TRON
One of the biggest differences between TRON and other blockchains is that it uses a staking mechanism to process and confirm transactions. Similar to Ethereum, users can get rewards by staking. But compared to Ethereum, TRX’s staking threshold is extremely low, with a minimum of 1 TRX required to start.
Staking your TRX means participating in supporting the operation of the TRON network. The staked coins will be locked for a certain period of time and cannot be transferred or sold during this period, but you can get corresponding rewards. It is a passive income method that does not require frequent transactions.
How to use TRX to bet on casino games and sports events?
Playing casino games with TRX is easy. Read our beginner’s guide to crypto gambling right now . It only takes a few steps:
Betting on sports on Stake is just as easy:
How to bet on slots and sports events with TRON (TRX)?
At Stake, all our games support USDT, including slots. Compared with offline slots , online slots offer more exciting gameplay, beautiful graphics, diverse gameplay, and more bonuses and paylines . In addition, there are table games (such as a series of casino table games such as blackjack and roulette ) and live dealer games for you to choose from. All games on Stake are provided by top software developers . In addition, you can also place sports bets on Stake. We support pre-match and real-time betting on popular events around the world . Open the sports page to view event data and real-time odds. Football , basketball , cricket , e-sports are all available, and popular events are also free live broadcasts for you to watch.
Promotions, Stake VIP Club and Responsible Gaming
At Stake, we offer a wide range of promotions to make your gaming and betting even more exciting. Be sure to check out our casino bonuses , sports promotions and our VIP Club benefits. You can win monthly bonuses , weekly prize draws , challenges , and enjoy special rewards including cashback , reload bonuses and your own VIP dealer .
Appropriate gaming is good for your physical and mental health, but please be sure to follow our Stake Smart and Responsible Gambling Guide to bet rationally so that you can play with confidence!
