The Tron blockchain stands out in the market thanks to its numerous advantages compared to traditional networks. Tron has a high throughput which is superior to Litecoin. Tron boasts excellent scalability, which is in many aspects better than that of the Ethereum blockchain. Tron also possesses high availability, which makes its distribution process exemplary and much better than Bitcoin’s. All of these features make the Tron coin ideal for business operations. Payments are one of the main use cases of the TRX coin. NOWPayments provides solutions for featuring a Tron crypto payment gateway to businesses around the world.
Key Points:
- TRX is the native token of the Tron blockchain.
- TRX transactions are free, rocket-fast, and absolutely anonymous.
- NOWPayments delivers tools for deploying a TRX payment gateway to businesses.
What is Tron (TRX)?
The Tron (TRX) coin is the native cryptocurrency of the Tron blockchain. The network was launched in 2017, and over five years, has processed more than 2.5 billion transactions. In 2018, the Tron Foundation acquired BitTorrent, which allowed it to make waves in the industry. In 2019, the BitTorrent token was launched on the Tron blockchain. The Tron network uses a Delegated-Proof-of-Stake consensus technology. Basically, in order to reach a consensus on the blockchain, Tron relies on the decisions of 27 “super representatives” who are responsible for validating transactions. Blocks are added to the Tron blockchain every 3 seconds. Every user who produces a block is given 32 TRX.
Thus, TRX serves as a utility token for the Tron ecosystem. For instance, as mentioned above, TRX is utilized as a reward for staking. Additionally, TRX coins are used for deploying decentralized apps on the network.
Why should you choose to accept Tron payments for your business?
Non-existent fees
If you have grown tired of paying insane bank fees and wish to reduce your fee expenses, TRX is the coin to go for you. After all, TRX transactions entail zero fees making the cryptocurrency one of the most attractive ones on the market. Businesses often struggle with paying bank fees because they can render certain services and products simply unreasonable to sell due to low profit margins. Switching to TRX payments can help companies to save more resources on fees. Additionally, customers will be more than happy to end up paying less using TRX.
Lightning-speed transactions
TRX transactions are not only free but also extremely fast. As already mentioned, the Tron blockchain has a high throughput. Namely, the network processes 2000 transactions per second which is simply mind-blowing, especially when compared to Bitcoin’s 4.6 transactions per second and Visa’s a little over 1500 transactions per second. Essentially, TRX transactions are absolute OGs in the crypto game.
Anonymity and decentralization
TRX transactions are also anonymous, and privacy is a big trend among modern consumers. Basically, the number of people willing to disclose their bank information when shopping is gradually decreasing. Offering TRX as a payment method is a great way to provide clients with a chance to pay anonymously. The Tron blockchain is also decentralized, so it can be accessed without any preliminary KYC procedures virtually by everyone.
How to accept Tron (TRX) crypto
Businesses that wish to deploy a Tron payment gateway can utilize several tools offered by NOWPayments. For example, eCommerce businesses can utilize plugins that are compatible with PrestaShop, WooCommerce, Magento 2, WHMCS, OpenCart, Zen Cart, Shopify, and Shopware. Moreover, businesses can use crypto invoices and a virtual Point-of-Sale terminal. There is also an option of deploying TRX donation widgets, buttons, and links.
Conclusion
A Tron payment gateway provides businesses with free, fast, and anonymous payments. NOWPayments has designed a variety of tools for accepting TRX payments for companies worldwide.