Tron is one of the top-performing crypto assets, with a market cap of over $9 billion at the time of writing this article. This is a function of the increasing demand for Tron (TRX), which is significant in its market value. But, while the demand for this crypto asset increases, there is a need to know the guide to mine Tron for beginners.
What Is Tron Token?
The Tron token is a cryptocurrency that is built on the TRON protocol. It is created as a method of credit payment, sharing, and data storage. This cryptocurrency works on the Tron blockchain, which users can access directly – eliminating third parties’ influence on the network.
Therefore, the viability of the Tron blockchain is what makes TRON one of the preferred crypto assets for content creators, as they interact directly with distribution networks through smart contracts.
How To Mine Tron (TRX)
While it is impossible to mine Tron, you can gain Tron (TRX) through mining. Gaining TRX involves mining Ethereum on your graphics processing unit (GPU), which is more efficient than using a central processing unit (CPU).
It would help if you started mining Tron through the Tron mining site – a platform that enables you to mine with two different algorithms indirectly. The options are Ethash or CryptoNite algorithms.
Ethash is a mining algorithm used to encrypt Ethereum, while CryptoNite is associated with privacy-centric cryptocurrencies like Monero. Therefore, you will similarly mine Tronto Ethereum, which employs the proof-of-stake (PoS) consensus mechanism. This means that the platform will take the Ethereum rewards and use them for their mining pool, which will be an exchange for you to earn in TRX.
Mining Tron (TRX) involves different steps, and these are:
- Step 1: Download an efficient graphics processing unit (GPU) mining software. One of which is Claymore’s Dual Ethereum Miner.
- Step 2: Open the batch file marked “start_only_eth.”
- Step 3: Open Tron-mining.com to copy the Ethash algorithm. It appears like “ethash.unminable.com:3333.”
- Step 4: Highlight the text you see in the text document. The text will appear like “eth-eu1.nanopool.org:9999,” which you will replace with your “receive” address.
- Step 5: Go to your wallet and copy your TRX receive address. Paste it on “your wallet address” and enter “allpools 1” after your address. This allows you to switch between different cryptocurrencies without breaking. It is also advisable to rename your BAT file from ETH to TRX to help with easy identification.
- Step 6: Ensure that the text files are closed after renaming the file. Set up your miners and get it running. You will receive messages with a notification that the Tron mining has already started.
Tron Coin Price Prediction
Tron has managed to sustain a steady uptrend, as it recorded a 98% annual return in 2023. This crypto asset is currently bullish over the key psychological level of $0.10, becoming a point of interest for traders and investors considering investing in Tron.
So, if this trajectory continues, crypto experts and analysts predict that the TRX price might increase to $0.25 in 2024. But, its price may drop to about $0.080 if the Tron ecosystem faces regulatory pressure or unfavorable market conditions. Therefore, Tron traders should expect the average cost of Tron to be $0.165 in 2024.
Furthermore, the continuous growth of the DeFi ecosystem can be pivotal to the surge in TRX price. As such, the crypto asset might be trading at about $0.763 by 2025. With much optimism in place, crypto firms like CoinSwitch predicted the price of Tron to be at $1 by 2030.
Where To Trade Tron
It should be noted that crypto trading is one of the best ways to make money online; therefore, selling your Tron on a reputable platform like Prestmit is a great way to start earning from your mined Tron. This is one of the top platforms to sell Tron as it is characterized by multiple payment options, an advanced security system, and a sleek interface to make your navigation and trading seamless.
In addition, you will get the best rates for your Tron with access to the automated Tron price calculator to give you the real-time value of the token on Prestmit.
How To Sell Tron On Prestmit
You can quickly sell your mined Tron on Prestmit with these quick steps:
- Visit the official website of Prestmit or download the Prestmit app on the Google Play Store or Apple Store.
- Create a Prestmit account and log in.
- Click “Buy & Sell Cryptocurrency,” and choose “Sell Cryptocurrency.”
- Select “Sell Tron” and generate your TRX wallet.
- Follow the prompts to sell your Tron.
- You will receive payment immediately after the confirmation of your transaction.
Frequently Asked Questions (FAQs) About Mining Tron For Beginners
How Long Does It Take To Mine 1 Block Of Tron?
Your hash rate determines the time taken to mine a block of Tron. Therefore, the efficiency of your mining is a function of the power of your mining set-up.
What Is The Cost Of Mining 1 Block Of Tron?
There is no universally stipulated cost for mining Tron. This is because your electricity price will determine your mining cost.
Can I Mine Tron At Home?
It is often advisable for beginners to mine Tron at home with their personal computer (PC). But as time passes, you can invest in ASIC, arguably the best process for mining Tron.
Can I Mine Tron On Android?
Mining Tron on your Android is simple. You must install the MinerGate application from the Google Play Store on your smartphone. Create your account, and you are ready to mine.
Can I Mine Tron On iPhone?
No, you can not mine Tron on iPhone. This is due to the damage it caused to iPhone hardware, making Apple restrict its mining.
Conclusion
It is easy for beginners to start mining Tron with the steps provided in this article. You can start on your PC or Android smartphone at a variable cost. While this guide can be helpful to you, it is essential to research how to mine Tron to keep you better updated.
