Another good news for the TRON community is that a p2p market has been introduced to buy and sell TRON [TRX] OTC. LocalTRX is a ‘most private, secure and intuitive’ way to swap TRON [TRX] with other cryptocurrencies for a local currency.
Also, users can purchase TRX using any local fiat currency with over 30 different payments. WeChatPay, Venmo and MoneyGram are just but a few examples. Similar to LocalBitcoins, LocalTRX aims to provide not only the easiest but also the fastest, most reliable way to purchase TRON [TRX] with local currency.
According to its official thread on Reddit, the LocalTRX token will be launched this week rewarding users 1 LocalTRX for every 10 TRX (in Volume) they trade. The project is still under continuous developments and more features are to be expected daily.
It is important to note that LocalTRX is not an exchange and does not act as an intermediary or take deposits. It is a place where users can find other OTC traders, giving them more control on how they’d like to trade.
How to Buy TRON [TRX] with LocalTRX
As mentioned earlier, buying TRX using LocalTRX is easy and quick. Below are the steps;
- Create a LocalTRX Account –To accomplish this, you’ll only need a username an email address and a password. Once you’ve signed up you cannot be able to change your username. Your password will act as your private key therefore you should ensure it is strong and secure. Your email address will be used for two-factor authentification.
- Find an offer that you like – On the homepage, you’ll see a list of offers that have been posted by trader from all across the globe. Search the offers that match your preferences. You can search the offers by considering factors such as location, popularity, payment method, and price.
- Open a trade –After entering the amount of TRX you want to buy, click on ‘Open Trade’. You’ll see the price locked in and an encrypted conversation will be created between you and the seller. Before sending any money, wait until the seller puts ‘agreed-upon’ TRX in escrow or else they may not hold up their end of the bargain.
- Transfer money to the seller –Using the encrypted conversation, the seller will let you know where to send your money. You can safely send money to the seller since they are sitting in escrow.
- Click on ‘Mark as paid’ then wait for the seller to release –The moment you click on ‘Mark as paid’, the seller can no longer cancel the trade, he/she is permanently forbidden from pulling the TRX out of escrow. Once the countdown timer has expired, then the seller will be able to withdraw their TRX.