Looking to buy TRON(TRX) cryptocurrency in Nigeria? Then you wouldn’t be wrong at all.
In 2021, TRON(TRX) has proven to be one of the fastest growing cryptocurrency in the world.
From less than $0.01 at the beginning of 2020, the price of TRON has grown to over $0.09 and is still going bullish.
No wonder everyone is jumping on the TRON bandwagon and investing to grow their money.
If you decide to buy and invest in TRON, then you wouldn’t be wrong. After all, the plan is to buy low and sell high.
You are definitely in the right place.
How to Buy TRON using Binance
Binance is the safest platform to buy TRON in Nigeria for now, so we’d be sticking with the platform.
Buying TRON on Binance is as easy as ABC. Here’s how to do it.
First Buy BUSD via P2P
To buy TRON, you have to first convert your Naira to BUSD which is an equivalent of the U.S dollar in crypto terms.
To do this, log on to the Binance app, click the trade tab below the fold, click the p2p tab above the fold, select Buy and click on the BUSD under that.
You’ll be able to access a list of Nigerian P2P crypto merchants to buy from.
Check the prices and success rates of the merchants listed and click on the buy button in front of the merchant name you want to trade with.
You’ll have to indicate how much BUSD you want to buy and then pay the Naira equivalent of the BUSD.
Once they confirm your payment, the BUSD would be transferred to your Binance p2p wallet.
Transfer BUSD from P2P Wallet to Spot Wallet
Once you have bought your BUSD, it will remain in your P2P wallet which is tradeable with other buyers and sellers.
But if you want to use that BUSD to buy other crypto automatically, you’ll have to move it to your spot wallet.
To do that, click on ‘wallet’ below the fold, and click on ‘P2P’ above the fold, you will be taken to your P2P wallet.
On your P2P wallet, click on transfer, and you’ll be taken to a page where you can transfer your BUSD from your P2P wallet to your spot wallet.
You can choose to transfer part or all of your BUSD if you want.
Once you have made the transfer, check your spot wallet to confirm that the BUSD has been transferred.
To do that, click on ‘wallet’ below the fold, and click on ‘spot’ above the fold.
Buying TRON with BUSD
Now that you have some BUSD in your spot wallet, you can start buying TRON.
To do that, click on ‘Trades’ below the fold, then click on ‘spot’ above the fold. Under that, you would see Buy/Sell trade which you can click and change it to TRX/BUSD.
To do that click on the figure showing if it is not TRX/BUSD. A popup will show where you can click on ‘FIAT’ above the fold and ‘BUSD’ under it. Then you scroll down to select TRX/BUSD as your Buy/Sell trade.
Once you are done, the spot trade page will change to reflect prices for TRX/BUSD trades.
Under the Buy & Sell tags, click on the dropdown and select ‘Limit’ if you want to trade at a specific price. Otherwise, just select ‘market’ in the dropdown to buy TRON (TRX) at the current market rate. Then set the amount of TRON you want to buy and click on the ‘Buy TRX’ button.
Once you have bought TRON (TRX), the amount bought will reflect on your wallet overview page.
You could decide at any time to sell your TRON back to a stablecoin like BUSD once you feel that the value has grown high enough for you to take your profit.