How to mine TRON (TRX) coin
TRON is a decentralised blockchain platform that seeks to revolutionise entertainment and digital content sharing. Over the past years, TRON's native coin, TRX, has increased in price by over 200%, attracting the attention of potential investors and traders who started looking for ways to mine TRON.
The fact is that mining the TRON blockchain is impossible. However, you can get paid in TRX to mine. The quickest answer to the question "How to mine TRON coin for maximum efficiency?" would be by using intermediaries to directly mine a mining pool and being paid in TRON (TRX).
Are you looking for more details? Let's get straight to business and see how to mine TRON crypto.
What is TRON (TRX)?
The TRON (TRX) coin is a cryptocurrency built on the TRON protocol. It's a means of credit sharing, payment, and storage. Everyone who owns TRON (TRX) coins fully owns all the data they create. The owners can control how this data is distributed to their audiences.
Rather than wondering how to mine TRON cryptocurrency, many people have been searching for suggestions and predictions of whether the coin has a future. The answer is yes. There are many advanced features that TRON CEO Justin Sun and the development team integrated into the project. Recently, the CEO has talked up TRON blockchain's partnership with decentralised finance. If it succeeds, the partnership will increase TRX's price in the crypto market. In addition to that, more users will be convinced to utilise the platform in the future.
On the TRON network, the TRX crypto coin is used to create and interact with dApps. Users who hold TRON coins can also gain "TRON Power" rewards by staking TRX. The longer holders lock coins, the bigger rewards they earn. Users can also use TRON Power for voting in the network, which directly affects the project's future.
The TRX coin was launched in 2017. The opening price on most exchanges was around $0.0014. In the first three months after its launch, the coin's price varied between $0.001 to $0.003. Soon after that, the coin price reached $0.50, which allowed the coin to strengthen its position by the end of the year. In January 2018, the price reached a new all-time high value of $0.30, but then it dropped to $0.01. In 2021, the TRON (TRX) price reached a new height of $0.16 until it fell again.
Capitalisation of TRON coin
As of 23 October 2023, the current value of TRON stands at $0.09059 per unit (TRX/USD), with a market capitalisation of $8,067,377,794. The trading volume over the past 24 hours amounts to $221,828,787. Within the past 24 hours, TRON has experienced a negative change of -0.90%, and its circulating supply amounts to 88,877,067,226 TRX units.
How does TRON work?
TRON was initially an Ethereum-based ERC-20 token. Today, it's a separate coin working in the Tronix network. Everyone should learn that all data on the blockchain network is free. No financial or central authority controls it.
How to earn TRON for free? Content creators gain TRX coins as rewards for posting content. They can also create their tokens on the TRX network, which can be further used within users' dApps on the TRON network. The main TRX token underpins newly created ones.
TRON runs on the proof-of-stake (PoS) consensus mechanism. The transactions within the network are validated by 27 super representatives that are chosen every six hours and earn a TRX coin as a reward for their work.
A new block is added to the TRON blockchain every 3 seconds. Users who add new blocks earn 32 TRX coins as rewards.
Who uses TRX?
Continuing our conversation on how to mine TRON (TRX) coins, let's discuss the most common use cases. Besides its main purpose of working as a platform for content creators, TRON can also support multiple games and applications. Companies such as Travala, SpendCard, and Bitnovo use the currency as a means of payment. In addition, Tether has moved the USDT-Tron stablecoin to TRON's network.
TRON's price as of 23 October 2023 is $0.09059. Its 24-hour trading volume is $221,828,787, and its market cap is $8,067,377,794. The cryptocurrency has a circulating supply of 88,877,067,226 TRX.
You can check out the TRX/USDT price chart on the StormGain platform. It reveals the latest price changes in different timeframes and views: the candlestick, line and area charts.
StormGain TRX/USDT price chart
TRON Price Prediction
According to the forecast shared by Wallet Investor, the TRX/USD price value will slide to $0.0865 over 2023. The same source estimates the coin's price to drop further to the value of $0.0742 per asset at the start of 2027.
Let's continue discussing how to mine TRON cryptocurrency with another forecast published by DigitalCoin. The source anticipates the average TRX price to be $0.18 in 2023, rising to $0.40 in 2026, $1.29 in 2031, and $1.76 in 2032.
The TRON (TRX) coin price prediction shared by Coin Price Forecast estimates the coin will be valued at $0.1054 by the end of 2023, rising to $0.1622 by the end of 2030 and $0.2084 by the end of 2035.
It's important to understand that crypto markets are volatile, and it's difficult to predict the exact price point at which a selected currency will close the current year or how much it will value in the future. As such, analysts may be wrong with their predictions. It's always a wise move to do your research and check out the latest trends, news, and tech analysis before investing.
Now that we have learned what TRON (TRX) is, let's discuss how to mine TRON crypto.
Can TRON be mined?
Tronix, being a Delegated Proof-of-Stake (DPoS) coin, follows a different mining approach compared to cryptocurrencies like Bitcoin and other altcoins that utilise the Proof-of-Work (PoW) consensus protocol. Instead of traditional mining, Tronix is mined through staking.
To better understand the DPoS algorithm, it's important to examine the underlying concept of Proof-of-Stake (PoS), which serves as its foundation. In PoS, cryptocurrency holders can stake their coins in return for rewards. This involves placing a certain amount of crypto in their wallet for TRON for a specific period, during which they cannot withdraw, trade, or transfer the coins. By doing so, their computer acts as a node in the network. The likelihood of being chosen to validate a block and receive a reward increases with the amount of crypto staked and the duration of the staking period. The selection process for validators considers various factors, including node wealth and age, and is semi-random.
Now, let's address the question at hand. Technically speaking, Tron cannot be mined due to the absence of a maximum supply for this cryptocurrency. Unlike network-based cryptocurrencies such as Bitcoin, where coins are mined, all the Tron coins (100.8 billion TRX) already exist. However, there is an alternative way to acquire TRX, which is through staking your coins.
How to mine TRON coin
Everyone who starts investigating how to mine TRON crypto gets stuck by finding out that it's impossible to mine it. However, people can still gain TRON coins through mining. How to get free TRON? For example, miners can earn TRX coins by mining Ethereum on their GPU. Mining with a GPU is more efficient than using a CPU. All it takes to start getting TRON (TRX) coins is to choose one of the algorithms offered on the TRON mining site. You have to choose between two options:
- The Ethash algorithm, which is used for Ethereum encryption
- And the CryptoNite algorithm, which uses more privacy-centric cryptos like Monero.
You mine Ethereum like you normally do. The platform then takes the Ethereum rewards and uses them for mining pools. Next, the rewards are exchanged and paid back to you in TRX coins.
How to earn TRON for free? The major steps that everyone learning how to mine TRON should be aware of include the following:
- Download a good GPU mining software like Claymore's Dual Ethereum Miner.
- Open the batch file marked "start_only_eth."
- Navigate to Tron-mining to copy the Ethash algorithm, which looks like "ethash.unmineable.com:3333."
- Highlight the text that looks like this: "eth-eu1.nanopool.org:9999" and replace it with your "receive" address.
- Navigate to your TRON wallet and copy your 'receive' address from there. When you paste it in the place marked as "your wallet address", type in "allpools 1" after your address. By doing so, you can switch between different cryptocurrencies without breaking them. It's also advised to rename the BAT file to TRX to more easily identify it.
- After renaming the file, close the text files and set your miners up and running. You will receive a message saying that your TRON mining has begun in a few moments.
As an alternative — and the most efficient solution — you can use the StormGain platform to buy, sell and exchange TRON using data from the live TRX price chart to inform your trades.
What do you need to start mining the TRON coin?
- The major recommendation for everyone learning how to mine TRON cryptocurrency would be to prepare your GPU for mining by installing the latest stable drivers from the official TRON website.
- Download and install a wallet for TRON. Get your wallet address, which will serve as your username in the TRON mining pool.
- Download and install Claymore's Dual Ethereum Miner. Please be informed that your security system might tag the software as a virus. It's a false positive.
- Configure a mining pool and insert your wallet for TRON address as your username.
- Start mining as you double-click on start.dat.
TRX mining software
TRON coin is supported by many software and hardware wallets. There are multiple options miners can choose from. The choice of the TRON wallet based on your specific needs is a vital step for everyone getting ready for TRX mining.
Following the instructions provided above, you need to choose the mining software you will use as the primary one. We recommend you try our native StormGain app or simply use the platform's desktop version.
How to mine TRON on PC
Mining TRON on a personal computer is the best solution for beginners learning how to mine TRON. Users who are experienced in mining TRON can invest in ASIC. Though it's a more expensive way to mine TRX, it proves to be more effective.
While learning how to mine TRON on PC, keep a close eye on your mining profitability chart to get the maximum revenue at every step of the way.
How to mine TRON on Android or iOS
So, want to know how to mine TRON for free on Android? It's easy to start mining TRON on Android. All that you should do is install the MinerGate application.
There's bad news for users looking for an answer to the question "How to mine TRON on iOS". It's currently impossible due to the damage crypto mining causes to iPhone hardware.
TRX mining profitability
TRON (TRX) coin mining profitability varies from person to person. It depends on many factors, including the cost of the mining setup, the chosen hardware and software, taxes, electricity cost and more. The best way to check TRON mining profitability is by browsing TRON profitability charts that will reveal the estimated profitability of mining TRON in your location.
How much does it cost to mine 1 TRON?
There is no universal cost of mining one block of TRON. However, if you want to be efficient and gain the maximum profit, it's advised to invest in an ASIC designed specifically for mining cryptocurrencies.
How to mine TRON on Android
The answer to the question "Can you mine on Android?" is straightforward. Take the following simple steps to find out how to mine TRON for free on Android:
- Install the MinerGate application from the Google Play Store.
- Once installation is complete, create an account.
- Now, you are ready to start mining TRON on your Android device.
How to get free TRON
To earn free TRX tokens, follow these steps:
- Engage with their Telegram bot.
- Join their Telegram group.
- Share your referral link.
- Invite your friends to join using your referral link.
- Receive TRX tokens based on the number of friends you refer.
How to earn TRON for free
Take the following steps to discover how to get TRON for free:
- Stake TRON in your wallet for up to 10% rewards through Atomic Wallet.
- Join TRON's decentralised network, complete social tasks, and refer friends to earn TRX through airdrops.
- Participate in the Affiliate Programme to share 25,000 TRX with the top 100 users earning a proportional share.
- Earn TRX dividends by playing games and voting for super representatives on TRONSCAN.
- Consider TRON (TRX) investment, as it's a top 10 cryptocurrency focusing on decentralised digital content and applications.
- Use crypto faucets to claim up to 8640.55 TRX every hour with a 10 TRX minimum withdrawal.
- Sign up on Idle-Empire, complete tasks like surveys and watch videos to earn free TRX.
What wallets support TRON?
You can use either of the following wallets for TRON:
- Ledger Nano X is highly regarded for its security features and staking capabilities.
- TronLink is a popular free wallet designed explicitly for Tron.
- Atomic is another option that is known for its multicurrency support.
- For those who prefer to manage their TRON on multiple devices, Guarda is the recommended choice.