Tron Mining – Can Tron Be Mined In 2021?

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Tron Mining – Can Tron Be Mined In 2021?

2021 has been the year crypto investors and traders have been looking for over a decade. Bitcoin and many other Altcoins are having the bull run of their lifetime. The market capitalization of all the cryptos combined has crossed 1.7 trillion, with Bitcoin dominating the market with ~60% share. The mainstream adoption of cryptocurrencies by global companies such as Visa, Mastercard, Microsoft, and PayPal has increased confidence over cryptos among the general public. These imply that cryptocurrencies are here to stay, and their presence in our daily lives is inevitable.

Crypto experts predict that there a few altcoins with huge potential both fundamentally and technically. If we watch those coins closely and invest in them, there is a possibility of them making us a fortune very shortly. One such altcoin is Tron (TRX). This crypto has been in the market for over four years and has shown great potential even since its inception. Since the beginning of 2021, TRX has grown about 194%, which is astronomical. 

tron mining chart
TRX Mining Chart

We realized that there is some keen interest out there related to mining TRX. Therefore, in this article, we have answered a few questions about Tron Mining and the future potential of this crypto. Let’s get started.

What is Tron?

Tron is a decentralized platform built around blockchain tech, just like many other significant cryptocurrencies. Tron was launched in 2017 with the mission of building a global entertainment system using distributed storage technology. The unique selling proposition of this crypto is to offer affordable sharing of digital content without any intermediaries seamlessly.       

For instance, Tron could replace marketplaces like YouTube and AppStore, which are currently acting as a medium between creators and end consumers. Currently, both parties are paying a hefty fee to use the platform and also compromise their privacy.

Using the Tron network, artists and creators get to directly share their content and enjoy all the profits while having complete control and ownership over their content.  This is the reason why many experts think that Tron has great potential in the upcoming future.    

Can Tron be Mined?

To answer this, let’s first understand the terms – Maximum Supply, Total Supply and Circulating supply of a cryptocurrency.

  • Maximum supply is the largest possible quantity of coins that can ever exist for crypto.
  • Total supply is the current amount of coins that’s already been created or mined.
  • Circulating supply is the current amount of coins that are both mined and technically available.  

Tronix (TRX) is the native cryptocurrency of the Tron platform. As of 22nd March, the price of one TRX is $0.064 with 71.6 billion TRX in supply. The total market cap of TRX is ~4.6 billion, with a total supply of 100.8 billion TRX.

Technically, Tron cannot be mined as there is no maximum supply for this crypto. All the coins (100.8 billion TRX) already exist, so there is no need to mine from a network like Bitcoins. However, you can earn TRX by staking your coins, and the supply is controlled by transaction fee and token creations, just like any other cryptos that use the PoS consensus algorithm.

How Tron Mining Works

As discussed, Tron cannot be mined as a coin, but you can earn TRX by following certain mining procedures. If you have a graphics processing unit, TRX can be gained by mining Ethereum. It is advisable to use GPUs over CPUs because the former offers a better hash rate. The working of Tron Mining is simple in 2021.

  • Using a proprietary Tron Mining platform, we should mine Ethereum in the way it is typically mined.
  • The Ethereum rewards generated there are taken by the platform and use for their mining pool.
  • The platform is automated in a way that it will exchange ETH and pay back to you in the form of TRX.

How to Mine Tron

By following the below steps, you can mine TRX in the easiest and quickest way possible.

Step 1: Download any credible Tron mining software on your GPU.

Step 2: Visit the Tron mining site and click on ‘Continue to unMineable.com.’

where to mine tron
Step 2 of Mining Tron

Step 3: In the image below you will see an Ethash algorithm and you can select it for mining.

Ethash algorithm
Step 3 of Mining Tron

Step 4: After installing the downloaded software, you will see a text document. Highlight the teat that looks like ‘eth-eu1.nanopool.org:9999’ and replace that with your ‘receive’ address.

Step 5: Copy your TRX receive address and paste it on the mining software mentioned as ‘your TRX wallet address’. If you don’t have a TRX address, install any reliable crypto wallet, and you will find your TRX send and receive addresses there.

tron address
QR Code of Mining Tron

Step 6: Close all the text files, let you’re mining software run, and wait for the confirmation message. The TRX will be credited to your wallet once they are mined.  

Is Tron Mining Lucrative In 2021? 

Simply put, the answer is, yes. Apart from the procedure mentioned above, there are many other ways to profitably mine Tron. Based on the fundamentals of this crypto, expert opinions say that TRX is highly undervalued at this point. Tron is not just a crypto that is confined to having just a store of value. Similar to Ethereum, it is a platform that could be scaled significantly. In a few ways, Tron is a bit more advanced than Ethereum, especially in terms of speed and scalability. Based on the price action of TRX in the last 30 days, Technical Analysis say that the market is highly bullish, as shown in the infographic below.  

tron mining bullish
Tron: Bearish of Bullish?

If the TRX price is expected to go up and eventually reach $1 or even $10 in the near future, thus, it is evident that Tron mining is lucrative in 2021.  

Tron vs Bitcoin

In the below screenshot, you can see clear comparisons between BTC and TRX. We can see the domination of TRX in the recent past.

bitcoin vs tron
TRX vs BTC

As you can see below, Tron is a clear winner in terms of growth from the past one month. This isn’t to say that TRX has a greater potential than BTC. It is a typical comparison of percentage growth for the last 30 days. 

bitcoin vs tron chart
Chart Credits – Wallet Investor

Overall, both Fundamental and Technical Analysis of this crypto is strong and portray high potential. Therefore, if you plan to consider Tron mining this year, we wish you all the best. We also hope you found the answers you were looking for in this article.  

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