How to buy Tron from Kenya

Recommended Broker 🇰🇪
⭐⭐⭐⭐⭐
👌Difficulty Low
☢️Commissions Very low
💲Minimum deposit 200$
🪙Cryptocurrencies: Tron and +15 more
⚖️Regulated by: Cyprus Securities and Exchange Commission (CySec), United Kingdom's Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC)
🌐 Official website: www.etoro.com *
*67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Cryptoassets are highly volatile unregulated investment products. No EU investor protection.

How to buy

For those who live in Kenya, a great way to buy Tron is, without any doubt, this popular broker.

eToro*, one of the main brokers around the world, is registered and licensed, among others, by the Australian Securities and Investments Commission (ASIC).

We recommend eToro because you can create an account for free with this broker, and its fees for trading online are very low. Besides, eToro is available in your language, accepts users from Kenya, it is really easy to manage, and its friendly interface is ideal for those who are starting to trade with cryptocurrencies and stocks.

How to sign up, step by step

The first thing you need to do is click here and fill in the fields on the right: enter your name, email, and set a password.

Now check your email: you have received an email from eToro, click on the link and your account will be verified.

Once on eToro, you just have to click on “Deposit funds”, in the page menu.

There, you can choose how much money you want to add to your account (the minimum is $ 200) and the payment method:

As you can see in the image, the first deposit can be made by credit card, PayPal, or bank transfer.

How to make your first purchase

When eToro has confirmed the receipt of your credit, you just have to search for “Tron” in the search bar, click on “Invest” and choose the amount in dollars you want to invest.

*67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

What is Tron?

Tron is a decentralized platform launched in 2017 that, like all cryptocurrencies, works with blockchain technology. With the difference that it can process 2,000 transactions per second, unlike Bitcoin and Ethereum which do not exceed 25 transactions per second.

The Tron platform was conceived with the idea of being an entertainment platform that allows to store content in a decentralized way. Also enabling access from anywhere in the world in an easy way and generating profitability for content creators.

This is how after selling its tokens in August 2017, it launched the Blockchain Explorer and the Web Wallet in 2018. These with the idea of being able to access content stored on the Tron blockchain and store cryptocurrencies.

One of Tron's goals is to eliminate middlemen in the distribution of content and have the profits generated go directly to those who create the sources of entertainment.

An example of this would be to replace the Streaming platforms model. In this model, we pay subscriptions so that they then pay the content creators. Whereas in the model presented by Tron we pay the creator directly without the middleman.

Eliminating the middleman brings with it a direct consequence, cost reduction. This benefits both the creator and the person who enjoys the content. By not having the middleman, the creator receives a little more for his work and whoever acquires the content, also pays less for it.

Tron and the acquisition of BitTorrent

Framed in this idea, Tron Foundation, the company behind the Tron platform, acquired BitTorrent in 2018 for $140 Million. And as we know, BitTorrent is a content distribution platform that works with a peer-to-peer distribution protocol, like cryptocurrencies.

BitTorrent is one of the most widely used platforms for downloading audiovisual content (movies, series, documentaries). Its acquisition by Tron represents a milestone and positive point since, it took advantage of an already existing platform to advance its proposed objectives.

The future of Tron

Although Tron is a young platform, it is a favorite among developers for creating decentralized applications because of its simplicity and transaction speed. And although with cryptocurrencies nothing is assured, it is well known that behind Tron there are a lot of big Chinese Investors backing the cryptocurrency.

And finally, what most differentiates Tron from other young cryptocurrencies, besides the improved transaction capacity, is the fact that it is focused on a single sector, the entertainment sector.

Reason for using this broker , because of this:

  1. Very intuitive and straightforward
  2. It takes other users successful investment strategies so you can replicate them
  3. Allows short-trading
  4. Leverage is allowed
  5. There are uncountable possibilities for investments

Homepage: www.etoro.com *

In case you are considering it, eToro is probably the best way to acquire Tron from Kenya.

This broker is well-known for making “social trading” fashionable. Social trading is a revolutionary way of investing in which traders can repeat the strategies of other investors who have been making profits over time.

If you are a novice user or haven't gained much experience in investments, eToro is great for you, since it puts your investment on automatic by repeating strategies from experienced traders with a very long profit history. And for those skilled investors willing to share their techniques with the community, eToro pays for it.

Besides, this platform is completely intuitive, ideal for users who want to start in the Tron world, without ending up overwhelmed with tons of diagrams and numbers.

How does leverage work

In case you still don't know what “leverage” is, we'll put it short. When trading, it's the capacity of multiplying your investment without putting extra money. For example, you can enter with $ 100, but if you use x2 leverage, you will be investing $ 200.

Everything you should know about leverage

Suppose now that you are sure that Tron is going to rise, therefore you decide “going long”.

You are certain that Tron will go up, and you have $ 1,000 at that moment, but the fact is, you have the chance of investing more.

There's the possibility of asking for a loan at your bank, but you must know that all the process takes time, and when you receive the money, Tron might be already at a much higher price, so you wouldn't be able to invest the way you planned.

Leverage is like a credit, but it is only a few clicks away! eToro allows you to operate with much more than what you have on the platform. Before trading, you will be able to choose between the different leverage options as in the image:

apalancamiento

When trading in different markets you can use higher leverage. This is because cryptocurrencies are a value that is invested in the medium-long term, and leverage is used primarily for day trading or short-term operations. But let's deepen a bit more on how all this works:

  • If you want to invest $ 1,000 and you use leverage x2, you will be starting with $ 2,000 (remember that$ 1,000 are a “loan” from eToro). 
  • Then, turns out that Tron does increases, as you thought, and now the price of your investment is $ 2,400 (20% more), so you decide to sell back. 
  • Once the $1,000 from leverage is deducted, you will have $ 1,400 left; which means the net profit is $ 400, since the other $1,000 was yours initially.

As you can see, with $ 1000 you get $ 400 more, no less than a profit of 40%. Not bad, right?

The thing is, it can also play against you. If everything goes as you planned, you will earn profits in little time; but in the opposite scenario, you will also lose more really quickly.

For instance: if the price falls by 10%, you won't lose $ 10, but twice that figure, which means $ 20, because of the leverage. That is why the terms “Take Profit” and “Stop Loss” are fundamental when trading with leverage.

Take Profit is used as a form of reducing risks when trading. When you enter, you can set a profit limit and ask that your position is automatically closed when the asset reaches a price. 

If you purchased Tron at $ 100, you program eToro to close when it reaches $ 120. That way, you make sure you won't change your mind and decide to keep waiting in case it keeps rising, which could make you lose it all.

Stop Loss is even more necessary, particularly when trading with leverage, since a small loss could have a significant impact. Always remember to establish a Stop Loss lower than that suggested by the platform.

What assets can you trade in eToro?

We already know about criptocurrencies, there are other financial assets you can trade .

About ETFs

Have you heard about Exchange-traded funds? They are passively managed funds, known for merging the benefits of stocks and mutual funds, because they can be exchanged regularly at market price, but include a much wider diversity of assets and considerably lower fees.

About Index Funds

This is the best option for people who can invest in the long term, mostly for those who are starting to trade, because it is inexpensive, diversified, and the risk is lower.

You may think differently, but benchmark returns are very difficult to beat and very few fund managers have done it, apart from some famous cases.

In practice, if a fund manager achieves to beat the benchmark, it is only for a short period or on a specific occasion. Or perhaps they would charge very high rates and indexing would be a better decision anyway.

Index funds offer solutions for that: they usually beat active managers in the long term, and the charges are minimal.

Commodity market

Most investors trade with raw materials due to their stability. While other assets tend to fluctuate more, commodity prices vary less and offer safety against inflation or market volatility. Nevertheless, prices are subject to supply and demand in the market, so if the fear of possible inflation provokes greater demand for a certain good, its cost will also rise.

Note that raw materials don't pay dividends. Therefore, by trading with these you will only have a further profit by selling them back.

Raw materials are generally categorized into two types: first, we have hard raw materials, which are precious metals (gold, silver, copper, and platinum), industrial metals, and oil; in second place are soft raw materials, which are agricultural goods such as sugar, cocoa, soybeans, among others.

Forex trading

Forex or currency trading allows obtaining profits by converting one currency for another.

If you decide to trade euros and dollars, you speculate how many dollars it will take to buy a euro, with the expectation that the first currency (the euro) will increase compared to the second (the dollar), to make a profit by selling it. Assume you entered when the price of one euro is 1.10 USD and you leave when the price has gone up to 1.15: consequently, that margin will be yours once you sell back.

You may be thinking by now that this form of trading requires investing considerable amounts, and you are not wrong, since increases in prices are never that dramatic, and if you use a lot of leverage to counter that, you will take a considerable risk. Our advice for those starting in the world of trading is to choose another market to begin with, since Forex is not the safest.

Most currencies are available on eToro but bear in mind that this market works with CFDs, which means the underlying asset won't be yours.

Investment strategies

There are many cryptotrading trategies: from buying and holding to day trading using volatility of the market to your advantage.

My recommendation for those who are starting to invest is something in the middle: when you open your position, set a stop-loss order 15-20% below the highest price, and let the magic happen.

For example, if you buy a cryptocurrency when its price is $ 15, then it rises up to $ 25 and decreases again to $17, the stop-loss will close your position at $ 21 or $ 22. Thus, you will obtain a good profit.

Perhaps you are wondering: why not selling back when the price is at its peak? But that would only work for a psychic or a fortune-teller. The mentioned strategy is more down-to-earth and can work out perfectly if it is well applied.

Later on, you will be able to apply more sophisticated techniques, such as using leverage or going short.

How does a virtual portfolio work?

For those who still don't have much experience in investing, using a demo account can be very helpful. You just need to set the virtual mode and you can start operating with fictional funds.

This can be a great way of practicing before trading with real funds. You will have an amount of $ 100.000 (“fake” or virtual, of course) to begin with, and you can trade with all the different instruments available on eToro, not just with Tron.

Don't worry, since if you lose all your virtual balance, you can contact support so they can add back the $ 100,000 to your portfolio and you can make a second attempt.

However, remember that trading is mainly about being cautious, and using a practice account can have an adverse effect. It is completely different to risk your own money than to operate with virtual funds which loss does not suppose any drama. Besides, investing virtual money can prevent you from learning to control your emotions, something you should be able to do when trading.

Finally, if you are interested in trading in the long or medium-term, there is no point in using the virtual mode and having to wait for years. On the other hand, it can be ideal if you want to practice short and medium-term investment.

What is social trading?

The first platform that conceived trading as a social activity was eToro, and the idea spread like wildfire. Other brokers have also taken this concept, but we have tried them all and eToro is way better.

But it wasn't just about creating yet another social network to talk about investment. The real innovation was in the possibility for users to replicate the strategies of experienced traders, who were in turn paid for their ideas.

You will find in the left menu of the page the options “Copy People” and “Invest in CopyPortfolios”.

CopyPortfolios

“CopyPortfolios” are a kind of portfolio that bundles a number of financial assets in a certain sector. For instance, if you think that the gaming sector is going to succeed soon but you don't know enough to start choosing stocks (or you don't have time), you just have to pick the CopyPortfolio called “InTheGame”, which includes companies like Google, Microsoft, NVIDIA, Nintendo, Logitech, among others.

CopyPortfolio has generated a 100% return in the last year, and you just need to click on “Invest”, select the amount, place the stop-loss, and the rest will be done practically on its own.

Copy People

But you can also copy other successful traders of the site. With “Copy People” you can locate them and replicate their moves easily.

In each user profile, you will be able to see their risk profile (how much risk do they take when trading), their performance, and what type of instruments they trade..

Besides duplicating other investor's moves, which is really interesting and helpful, we also recommend that you benefit from the community by reading other users. You can learn a lot from their experiences, particularly if your goal is to make a living from trading.

FAQ

How much is the minimum deposit?
The minimum deposit is 200USD.

When will I be able to withdraw my money?
Whenever you want. You just have to sell your Tron trade, click on “Withdraw Funds” and you will receive the money very soon.

What deposit methods can I use?
Available payment methods are: PayPal, Bank Transfer, Credit Card, Rapid Transfer, Klarna / Sofort Banking, Neteller and Skrill

* Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Disclaimer: 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.