The Tron network is renowned for its superior transaction processing capabilities. This is why it gets heavy use on a daily basis. For instance, Tron handles millions of dollars worth of the USDT stablecoin in just 24 hours. Yet, apart from serving as an efficient platform for transferring different types of assets, the Tron project has its own native token TRX. The TRX coin has made it to the wallets of hundreds of thousands of people around the world. The impressive scale of the TRX market opens a whole host of new opportunities for businesses focused on maximizing their profits. NOWPayments gives merchants a chance to gain the upper hand in their industries by accepting Tron coin payments using recurring invoices.
- The Tron crypto enables businesses to get larger profits by reducing their expenses.
- TRX transactions are borderless and chargeback-free.
- NOWPayments is a TRON payment gateway, letting businesses accept recurring TRX payments.
What Is Tron Crypto?
Tron seeks to become a foundation for the Web3 internet, where every service is decentralized and there are no monstrous players like Facebook that have unlimited power in their hands. To achieve this, Tron provides users with an advanced blockchain infrastructure that works like a charm. Tron’s well-tuned network powers thousands of smart contracts and hundreds of decentralized applications, while taking care of millions of transactions. The efficiency of the Tron blockchain is truly astounding, as it manages to host all of these activities without compromising on fees or speed. It costs almost nothing to send transactions using Tron. What’s more, Tron transactions get processed in seconds, as the network maintains a throughput of 2000 transactions per second.
Tronix is the native token of Tron, yet most users are familiar with its ticker symbol TRX. Tronix does just what any regular utility token does. TRX is needed for paying network fees when you conduct transactions on Tron. It is also used by validators, who stake it and receive rewards for contributing to the network’s security. The coin also acts as the governance token, allowing its holders to vote on various proposals concerning the Tron blockchain. TRX has been a deflationary token since 2021, meaning that its supply is continuously shrinking. Yet, apart from serving as the network fuel, TRX can also be successfully used for the purpose of payments.
What Are the Benefits of Recurring Invoices Paid in TRX?
Transactions done in seconds
As was already noted, TRX transactions are extremely fast. In fact, they take between 3 and 5 seconds, which is on par with the performance demonstrated by the largest payment processing networks such as Visa and Mastercard.
The speed of TRX payments can become a secret weapon for businesses looking for ways to supercharge their payment processing. Quicker payments also mean a smoother customer experience. NOWPayments provides tools for accepting TRX, which do not slow down transactions. This is because NOWPayments delivers instant payouts, which means that you can expect payments to reach your wallet within a couple of minutes. Basically, there are no delays or slowdowns, allowing you to always easily access your funds when you need them.
Seamless cross-border payments
The decentralization of the Tron blockchain makes it a truly borderless system. In other words, there are no restrictions which can limit users’ ability to move their assets across the world. In order to send a TRX payment, one only needs to have an internet connection.
As a result, TRX can act as a genuinely international payment method. This is especially relevant for businesses that want to access foreign markets, expand their operations, and establish a global presence. NOWPayments also does not limit the geographic scope of TRX, enabling businesses to accept payments from any place in the world with internet access. Thus, you will not need to use dozens of bank accounts in different countries. Thanks to TRX, you can manage all payments using just one NOWPayments account.
The Tron network is permissionless, so no one can be denied the right to use it. Moreover, the network does not require users to share their personal details, providing them with an anonymous service. Businesses can use this to their advantage by featuring TRX as a private payment method.
This will significantly streamline the payment process for your clients, as they will not need to go through any kind of lengthy verification procedures. NOWPayments also maintains your confidentiality. Specifically, in order to start using NOWPayments you will only need to register a personal account by providing your email and payout address. So, there is no KYC.
Free to set up
To accept payments on the Tron network, you do not need to pay any type of fees. All of the expenses will be covered by your clients, as they will be the ones initiating the payment transactions. Basically, you just need to generate your payout address, which is also free, and you are good to go.
Similarly, NOWPayments does not charge you for deploying its payment tools. In other words, you can provide the option of paying with TRX to your clients without spending a penny.
The Tron network can protect you against chargeback fraud. This is because TRX transactions are irreversible, which means that they cannot be somehow changed or undone. This is because there is no central authority capable of interfering with the users’ transactions. Using TRX payments helps you keep your money safe.
NOWPayments also does not conduct any type of refund. This means that the ability to grant a chargeback rests solely with you. In order to send chargeback payouts in TRX you can always utilize NOWPayments’ Mass Payments tool, allowing you to efficiently send money to your clients and employees.
TRX transactions do not entail any substantial fees. In many cases, Tron fees are much lower than those charged by banks. It costs a mere $0.000005 on average to send a transaction on the Tron network. This is why TRX can be a powerful way for you to keep more of your revenue.
When using NOWPayments, you will only need to pay a 0.5% fee per payment, which is quite negligible considering that TRX transaction fees themselves are quite low. Thus, TRX can truly help you earn more.
How to Accept Recurring Invoices in Tron?
Companies have the ability to generate and automatically deliver invoices denominated in TRX to their clients with the Recurring Invoicing tool. This solution offers numerous advantages to businesses, including the availability of more than 150 cryptocurrencies to choose from to use as payment methods, not just the Tron coin. NOWPayments is a secure, non-custodial service that provides instant payments to its users. However, you have the option to enable custodial features to securely store your funds and withdraw a larger sum at a later time.
Here is how you can set up Recurring Invoicing from NOWPayments:
- Provide your Tron payout address.
- Use the Recurring Invoicing API (read the detailed instruction).
- Set up a recurring payments plan.
- Your clients will receive a payment invoice on a set schedule
The Tron network is an effective solution for lowering transaction fees, increasing the payment processing speed, and streamlining the shopping experience for your clients. NOWPayments lets companies begin accepting Tron coin payments with ease.