As an innovative blockchain project launched in 2017, Tron is a protocol that builds decentralized web apps by publishing, storing and transferring data without a trusted third party. Tron uses distributed ledger technology (DLT) to give users control of their own content.
Tron is designed to lead as a development ecosystem for DApps (decentralized applications) by giving developers a platform to build and deploy applications in single architecture. DApps networks are used for online games, social media platforms and in decentralized finance.
The network’s native token is TRX, which is used to pay transaction fees on the platform and to interact with DApp projects. Some users can earn TRX by playing online games and participating in activities within the Tron platform. Tron stands out for its efficiency, offering high transaction speeds and a processing capacity of up to 2,000 transactions per second.
Building on its own success, TRX is used by hundreds of thousands of enthusiasts who, to be able to store, send, receive and secure their tokens, use the Tron wallet.
To do so yourself, consider the following:
- How to choose the right crypto wallet?
- What are the differences between Tron cold and hot wallets?
You can answer these questions by consulting this Tron wallet review.
Get started with our tutorial below.
What Does the Tron Wallet Do?
The Tron wallet is an ideal program for securely storing your TRX tokens. This one is a physical or virtual wallet that stores and manages TRX and other cryptocurrencies.
The Tron wallet app is used not only to secure TRX crypto but also to send and receive them through a personal key. There are two different types of Tron wallets to consider:
- The Tron Hot Wallet—This is the online version, which is connected to the internet to carry out real-time transactions on the Tron blockchain. Good for active use online, Tron’s hot wallet is less reliable for long-term storage.
- The Tron Cold Wallet—This is a tangible, hardware cryptocurrency wallet that looks like a USB key. Disconnected from the Internet, it is less susceptible to cyber-attacks and, therefore, better for holding tokens for long-term storage. Cold wallets, however, are less suitable for everyday transactions.
The Best Tron Hot Wallets
Below, we discuss our selection of the best Tron hot wallets to get started with today.
Trust Wallet is decentralized and mobile, supporting multiple blockchains, including Tron. Being an open-source wallet, it was launched in 2018, and you don’t have to register with it. It’s compatible with over a hundred crypto tokens, including Bitcoin, Ethereum, Litecoin and Ripple.
- Quick access, without registration and in real time
- Compatibility with many blockchains
- Ergonomic and intuitive
- Mobile friendly
- No desktop version
- Increased security risks from the internet
Founded in 2012 in the U.S., the crypto exchange Coinbase offers a secure wallet for TRX holders. The Coinbase Wallet is surely one of the best options for trading and storing Tron tokens in the short-term. This is true since its security settings can be fully personalized.
- A customizable security protocol
- An easy-to-use interface for beginners
- Both desktop and mobile versions
- Compatibility with many other blockchains
- Centralized company, therefore prone to hacks
- Registration required
Binance, the largest crypto exchange in the world, also hosts its own hot Tron crypto wallet. Accessible from a computer or mobile device, the platform gives users the option of storing, sending and receiving funds in TRX and a multitude of other cryptocurrencies.
- Wallet designed for DeFi
- Renowned exchange wallet
- Total control over your cryptocurrencies.
- Advanced security protocols
- Access to Binance services
- Both a desktop and mobile version
- Compatibility with other blockchains
- Difficult to learn for beginners
- Registration is required
- Increased security risks due to the internet
The Best Tron Cold Wallets
If your priority is to store TRX as securely as possible, then you’ll need to consider a physical wallet, which remains offline and isn’t subject to cyber-attacks or hacking attempts.
The best known Tron cold wallet, Ledger Nano, can securely store your TRX crypto. The actual wallet is nothing more than a USB key with encrypted hardware. All of its connections require two-factor validation when registering your crypto into it.
- Optimal security
- A solid reputation
- Relatively fast
- Various cryptocurrencies are supported
- Complex for novices
Ellipal uses advanced security measures to protect user funds, which include passwords and backup phrases. The Ellipal cold wallet is compatible with dozens of cryptocurrencies. From it, you can carry out secure transactions without an internet connection.
Its compact design makes it unique from the others.
- Advanced security
- Compact design
- Control screen
- Fast connections
- Other cryptocurrencies are supported
- A short-track record
- Prise en charge de plus de 10 000 tokens
- Synchronisation mobile
- Portabilité compacte
The Trezor wallet connects to a computer via USB and stores crypto funds offline, which protects currencies from hacks and network attacks. The Trezor wallet takes advanced security measures and is compatible with a multitude of cryptocurrencies, which includes Tron.
- Compatible with other cryptocurrencies
- Excellent reputation
- Complex setup for beginners
Your Tutorial for a Cold Tron Wallet
Here’s our detailed tutorial for using a Tron cold wallet:
- Buy the hardware first—Find your “cold” wallet from the official Ledger, Trezor or Ellipal website or from another authorized dealer.
- Set up your physical wallet—Connect your wallet to your computer’s USB drive and follow the on-screen instructions. Choose a PIN, and keep your security phrase safe.
- Pay out TRX—Connect your crypto wallet to your PC by processing your PIN code. Choose a cryptocurrency platform like Binance, eToro and Kraken, for example, and buy your first cryptocurrencies there, or send the ones you own to your wallet.
- Send funds—From your wallet screen or the dedicated application, enter your recipient’s address as well as the number of tokens you’re sending.
- Receive your funds—Now give your public address to the sender, and they can then credit your wallet with the expressed amount.
A Tutorial for a Hot Tron Wallet
Here’s our tutorial for using a hot Tron wallet:
- Download—Get the Tron wallet that’s compatible with your device.
- Register—Create a new account by following your on-screen instructions. A security phrase is then generated.
- Access—Log in to your Tron wallet.
- Receive funds—Share your address with the third party who’s sending you the funds. The address of your hot wallet becomes accessible by clicking on “Receive.”
- Send funds—Log into your wallet, and click “Send.” Enter the recipient’s wallet address (hot or cold) and the quantity of TRX being sent.
The Pros and Cons of the Tron Crypto Wallet
Tron wallets have become popular thanks to their ease of use and features. Reliable for both transacting with and storing crypto, wallets enable you to securely manage your TRX tokens.
As for choosing a cold or hot wallet, this depends on the amounts you’re storing and your spending habits. To store large sums over long periods, a Tron hardware wallet is ideal. If you’re trading on small amounts, on the other hand, a cold wallet is better suited for you.
- Operates in the content sector, which has strong prospects
- Covers multiple areas, including video hosting, social media, streaming and others
- Works a decentralized platform, allowing users to create and monetize content without intermediaries
- Was supported by a strong team of developers, making it legitimate for investors AND users
- Processes over 2,000 transactions per second, outperforming its competitors
- Accused of centralization, having only 50% of all TRX tokens stored in diverse addresses
- 15% of issued tokens are only for private investment
- Still in an early stage of development