Quick summary: Our recommendation is to use eToro to short TRON. They have the most popular cryptocurrencies on offer, great support, and have an easy system for shorting cryptocurrencies in general.
While there are a lot of options out there for buying TRX, shorting is a different story. Luckily for us here in Australia, we do have a few crypto brokers and exchanges that allow for CFDs and shorting.
One of those brokers is eToro, which we’ll be using for this guide. Let’s get started!
How to Short TRON in Australia
A quick recap first on what shorting actually is: The main objective of shorting or short selling is to make a profit (of course). The idea is to sell a stock/cryptocurrency hoping it will drop in value so you can buy it back later for cheaper, thus creating a net profit.
Shorting TRON can be done in 4 easy steps:
1. Choose a crypto trading platform
As mentioned before, for this guide we’ll be using eToro as they offer the ability to short the most common cryptocurrencies.
You can, of course, use any other crypto broker to follow along, they all work very similarly.
2. Create an account on the cryptocurrency trading platform
Let’s start with just signing up with eToro.
The sign-up process is very easy, as is the verification that needs to be completed afterwards so you can get started.
3. Funding your account
Next is funding your account. You have several options when it comes to depositing AUD into your eToro Account. These include a bank transfer, credit card, debit card, PayPal, and more.
4. Short TRON
Now for the actual shorting:
- Starting off at the search bar at the top, find TRON by entering the name or symbol.
- Then on the crypto page/section, on the right side, hit the TRADE button to enter the trading interface.
- At the top of the trading interface: Click on sell to short sell the stock.
- Enter the amount for which you want to sell TRON and click on “Open Trade”.
Once you’re ready to close the trade, hopefully when the value of TRON has dropped, go to your Portfolio, find the TRON trade, and click on the red cross to close the trade.
If your assumption/prediction was right, then the profit will be added to your account after closing the trade. If you were wrong on the other hand, you’ll incur a loss which will be debited from your eToro account.
Congratulations, now you know how to short TRON!
Disclaimer: Trading, investing, and dealing with digital and cryptocurrencies might involve a lot of risks. Their prices are volatile and performance is unpredictable. Their past performance is no guarantee of future performance.
Affiliate Disclosure: This site is supported by its users. We may receive commissions for purchases made through the links on our site. This does not impact our reviews, guides or comparisons.
Where to Short TRON (TRX)
Aside from eToro, the other major exchange you can use is Binance.
While Binance tends to be a bit more complex compared to eToro, they do have more cryptocurrencies on offer.
Frequently Asked Questions
Can I short TRON on Binance?
Yes, you can short TRON on Binance. They have over 300 cryptocurrencies on offer and specialise in the crypto market. They also have a great app and competitive fees.
Tron, a blockchain-based and decentralized operating system that is similar to Ethereum, seeks to promote the decentralization the Internet's infrastructure and the Internet's operations. Tron, a smart contract platform, is at its core. It offers high throughput and scalability as well as high availability for all Decentralized Applications, (DApps), in the TRON community. Tronix (TRX), is Tronix' native token. The Tron blockchain was built around its usability.
Tron uses the blockchain and decentralized smart contracts to provide a decentralized internet that allows users to access content without any intermediaries such as Google or Facebook.
Youtube, a privately-owned company that stores and distributes video to its viewers, is currently the most widely used video sharing platform. Youtube's terms and conditions mean that users and creators have to follow them and may need to pay for their content. Youtube allows creators to earn a portion of Youtube's revenues, but it is up to Youtube to decide the structure.
Tron intends to replace Youtube and other services by being the decentralized infrastructure where users can connect with creators directly and pay creators directly for the content that they consume.
TRON operates on a Delegated Proof of Stake governance model. This allows users transaction spam resistance while allowing transactions to be performed at almost zero cost.
Tron Blockchain transactions can be maintained by a group Super Representatives (SR). These Super Representatives are elected by TRX holders who have invested in Tron Power. There are 100 Super Representative candidates and 27 super representatives who were voted in the top. Based on the number votes they receive from Tron Power Holders, the hierarchy of SR and SR candidates is updated every 6 hours.
Tron is, at its core, a smart-contract platform. It has an Ethereum Virtual Machine compatible (EVM) which means it can execute Turing complete virtual machines. Tron can execute smart contracts in the same way as Ethereum.
Tron is a different model. While Ethereum uses the gas fee transaction model for transactions, Tron uses the Bandwidth method, which is similar with EOS. Tron transactions are therefore cheaper and more seamless that Ethereum.
It is possible to issue smart contracts tokens on Tron, just as you can on Ethereum. Tron currently supports TRC10 (or TRC20) token standards.
Tron issued numerous TRC10- and TRC20 tokens for various purposes.