How to exchange Bitcoin (BTC) to TRON (TRX)
Options for exchanging BTC to TRX
BestChange service provides a list of exchangers that allow you to exchange Bitcoin for TRX cryptocurrency not only in the native blockchain but also in the Lightning Network, Ethereum, and BNB Smart Chain. Below, we will discuss each option in a little more detail.
Bitcoin native network
This is the most common network, as many investors prefer to store bitcoins in wallets that interact with the original blockchain — it's the safest option.
However, the native Bitcoin network has two key drawbacks:
- High fees: as of April 2024, the average value of a Bitcoin transaction exceeds $4, negatively impacting the commission or exchange rate.
- Lack of access to the DeFi market: Bitcoin does not support smart contracts, so the list of possible actions is limited to sending and storing cryptocurrency.
On the BestChange website, the Bitcoin of the original network is the easiest to find in the exchange table — it is on the first line.
Lightning Network
The Lightning Network or LN is a Layer-2 or L2 network designed to scale the Bitcoin blockchain. LN is not a blockchain network in the usual sense; it consists of centralized payment channels but provides instant and almost free transactions.
In the BestChange exchange table, this option can be found under Bitcoin LN (BTC).
Ethereum network
Ethereum is the second-largest blockchain network after Bitcoin and supports smart contracts. It allows Wrapped BTC (WBTC) tokens to be used for liquidity mining, lending, and other transactions. However, Ethereum network fees for token transactions can reach several dollars, and their processing speed also leaves much to be desired.
In the BestChange exchange table, this item can be found by Wrapped BTC (WBTC).
BNB Smart Chain
The BNB Chain blockchain has the same advantages as Ethereum, but the commissions in this network are much less, and the processing speed is faster. In the BestChange exchange table, this item is called Bitcoin BEP20 (BTCB).
What should I pay attention to when exchanging Bitcoin for Tron?
Suppose everything is clear with addresses in EVM networks (Ethereum and BNB Chain). In that case, they support the same address formats, so several types of addresses exist in the original Bitcoin network.
Among them, the most commonly used is a new type of Bitcoin address known as Native SegWit or Bech32 (starting with the characters bc1). However, you can also find SegWit addresses (starting with the number 3) and, slightly less frequently, Legacy addresses starting with one. Regardless of what type of addresses the user's wallet supports, you can send cryptocurrency to any of them — all these formats are compatible. However, the choice of the type of address used will depend on the network commission: the cheapest transactions are provided by the Native SegWit format.
How to exchange BTC to TRX: step-by-step instructions
The following step-by-step procedure for exchanging Bitcoin cryptocurrency for TRX will be described.
1. Searching and selecting an exchanger
In the left column of the BestChange exchange table, you need to select one of the following options, depending on the network that the user will use for the exchange:
- Bitcoin — original network;
- Bitcoin LN — Lightning Network;
- Bitcoin BEP20 — BNB Smart Chain;
- Wrapped BTC — Ethereum (ERC-20 token);
In the right column of the same table, you need to select an asset to buy. In this case, it is TRON (TRX).
After selecting a pair of assets to exchange, the site will show a list of all exchangers that allow you to trade cryptocurrency in this direction. In this list, you should choose the exchanger that matches the user's preferences.
When choosing an exchanger, you should consider the exchange rate and available reserves; additionally, you can read the reviews of other users. It is also worth paying attention to the icons located next to the exchangers names — if you put the cursor over them, tips will pop up that contain useful information about this or that exchange office.
For example, exchangers that process applications in manual mode do not fix the rate during transactions, and require verification of identity or account registration for exchange are marked with unique icons.
2. Creating a request for exchange
When visiting the exchanger's website, a form will be available for the user to complete to create a request to exchange BTC to TRX. It should be noted that different exchangers may request different information from the user, but in all applications it is necessary to specify:
- the wallet address to receive TRX corresponding to the Tron network;
- the amount in bitcoins or TRX cryptocurrency that the user wishes to exchange;
- the email address will be needed to receive the check (some exchangers do not require filling in the email address field).
In some cases, entering other personal data about the user or even documents for verification (KYC) may be required. If the user does not want to provide his personal data, he should choose another exchanger that does not ask for such information.
3: Sending BTC and receiving TRX
The last step will be the exchange itself. To complete the transaction, the user must send the exact amount of bitcoins to the BTC wallet address provided by the exchanger.
In most cases, exchangers automatically confirm the cryptocurrency transfer as soon as the Bitcoin network has reached a certain number of transaction confirmations (most often up to 4).
It is worth noting that transactions in the Bitcoin network can take up to 15 minutes to be confirmed on average. The confirmation time depends on two factors:
- The size of the commission that the user sets when sending a BTC transaction;
- Network congestion. Even if the user has set sufficient fees to confirm the transaction quickly, due to a spike in activity, their fees may increase, causing a delay in the transaction. Some Bitcoin wallets, such as Electrum, Atomic Wallet, Blockchain.com, and imToken, support a feature to speed up BTC transactions.
Transaction confirmation progress on the blockchain can be tracked in real-time using OKLink or Blockchain.com browsers. If a user finds that a transaction is confirmed too slowly, they can speed it up by paying an additional fee. The thing is that exchangers provide a limited time for sending cryptocurrency (usually up to half an hour).
If the transaction takes longer, the exchanger may reject the application or change the exchange rate during this time, and then you will have to solve the issue through service support.
After the exchanger confirms the receipt of BTC cryptocurrency in his wallet, he must immediately or within a specified time send TRX to the user address specified in the application and provide a hash of the transaction, which can be used to track its status in a browser like Tronscan.
If this does not happen, although bitcoins have been received in the exchanger's wallet, or the transaction is not displayed in the browser according to the received identifier, you should contact the exchange's support service.
