Steemit Crypto Academy Contest / S8W3 - Steem and TRX Integration

Hi, This is Asad Fazal from Pakistan. I hope everyone here is fine and enjoying their life to full. Today I'm here to take part in the Season 8 Week 3 contest held by SteemitCryptoAcademy Team. The topic is very interesting that is Steem and TRX Integration. In February 2020, the TRON and STEEM partnership begin and from time to time it became stronger. With the integration of Steem and TRX, it result in major growth of both blockchains. So without wasting time, let's answer the questions and share knowledge!

The Steem and TRX are two blockchains that were not integrated till 14 February 2020. TRX is a decentralized blockchain that allow the developers to create dApps and execute smart contracts on the network. It gives high scalability and availability for the dApps on the Tron network.

On the other hand, Steemit is a social networking website that allow it's users to create quality content and get rewards with the help of upvote system. It is not like a simple social media website but here the users are rewarded to create content and the reward is in the form of cryptocurrency STEEM, SBD, and Steem Power(not a cryptocurrency).

The integration has multiple phases but the first phase was done on 14 February 2020. With the integration of Steem and TRX, the Steemit users are able to get Tron account free and automatically and they will get reward in TRX along with Steem for every content they create and get curation support. The integration has many benefits including users will be able to move both cryptocurrencies on the both blockchains with less fees and faster transaction.

In integration, it was to shift the old Steem tokens to a new Steem token that is on TRON blockchain. The main goal was the growth and development of both blockchains STEEMIT and TRON. Moreover, the liquidity on both blockchains increase because users of TRON blockchain are also now using STEEMIT blockchain and vice versa. This partnership come out to be most successful integration between both blockchains that have benefit users of both networks.

If we talk about current TRX tokens ratio on our payouts than it is 0.5 TRX for 1SP if we have set our payouts to 100% SP. Both curators and authors get 0.5 TRX for 1SP during payout of their content. In order to get maximum TRX, one should set his payouts for both curation and author to 100% SP so he/she will get 0.5:1SP in return.

When the integration happened, the steemitblog announced that for every 1SP content creators will get 1TRX that was really good but a user at that time needs to set his payouts to 100% SP to earn maximum TRX rewards. The users who were setting their payouts to 50% 50%, they were getting half TRX at that time.

From time to time, the ratio of TRX:Steem changed and in start it was 1:1 ratio and then it stopped giving TRX because of most development issues but now in 2023, the TRX rewards are back with all past rewards which were not showing in the wallet. Currently the TRX:Steem ratio is 0.5:1 for every 100% powerup content and curation.

For 50% 50%, it is divided more into half and that is 0.25. To enjoy maximum benefits, I have also set my author and curation rewards to 100% SP. Before writing this content, I redeem my rewards so now can't share the screenshot but will add tomorrow after getting new payout.

Like now I am creating content and when I get payout of it, I will get Steem Power (SP) and TRX. The ratio will be suppose I get 30 SP then I will get 15 TRX in reward. To claim the TRX rewards, you need to first check your TRX account linked in your Steemit wallet. There in start, you will get the PDF file that contains TRX address and it's password.

When the payout happens, on your Steemit Wallet page, you will see at top below wallet menu how much Steem, SP and TRX you will get. Once you click on Claim button, your SP or Steem will be added within 2-3 seconds in your wallet and the TRX will be added after some time. I have personally checked my wallet multiple times after different payouts, the TRX rewards are distributed mostly in the morning of my country Pakistan time that will be UTC time of 7AM to 10AM.

In the above screenshot, you can see I have 2 TRX accounts. The upper one is old account for which I have password and it was in my old laptop. The below one is New account for which I don't have the password and the PDF file. All of my TRX rewards in the new account are stuck and I can't do anything because I have no password for it. I only have old account password which I am currently using.

To withdraw TRX rewards from Steemit wallet, you need to create either a Tron extension account or cryptocurrency exchange account. Currently I am using Binance exchange and withdrawing all of my TRX rewards there to buy Steem and other coins. The process is simple, you just need a verified account on exchange, your password and address. Let me explain withdrawal to binance first and then the Tronlink app.

Login your binance account with your email and password. Then click on "Fiat and Spot". There you will see many buttons below menu in front of Fiat and Spot title. Click on Deposit button that is in yellow.

You will be redirected to another page where you need to Select Coin and Deposit Network. From there you need to select TRX as coin from the first dropdown and (TRC20) from second dropdown as shown in the screenshot below.

Once you have selected the coin and network, you will get TRX address of your Binance Wallet. Copy that address and now move to Steemit wallet and log in there. Once log in, you need to scroll down and click on TRX as shown in the screenshot. Then you need to click on Transfer option.

After you click on Transfer, you will get a popup type box. There you need to click on Switch to Tron Account. Then add the amount you want to transfer. Here important thing is you need to leave fees in the Steemit wallet and only add remaining TRX amount. Like in my case when I withdraw 30+ TRX today, I left 1 TRX for fees and remaining I withdraw. In the Memo box, you can leave it empty or can write TRX as I also write TRX.

After putting the TRX address, amount and memo, click on Next button. It will ask you one more time for confirmation but you don't need to put the address and amount again. Then you need to click on OK button and it will ask you for your TRX password. This is the password you have in your TRX keys PDF. Get that password and put it in the field and click Transfer. The transfer will take few seconds to complete. I suggest to wait 2 minutes for TRX to appear in your Binance wallet.

This is how you withdraw your TRX from Steemit wallet to Binance account. Now let's talk about TRONLINK extension.

First download the Tronlink extension if you don't have already. Then signup with email and password and it will give you seed phrase that you must store in the safest place at your home or PC. After that log in to your Tronlink account and click on Receive button as shown in the screenshot.

Once you click on Receive button, you will get a TRX address of your Tronlink account. You need to copy it and come back to your Steemit Wallet. The process here is also same just like to transfer to Binance account. Click on TRX in your Steemit wallet and click on Transfer. Click on Switch to Tron Account and then put the amount and memo. Once done click on Next and confirm the transaction by putting your TRX password from TRON Key PDF.

Now wait for the transaction to complete and don't forget to keep 1-2 TRX in your Steemit wallet for the transaction fees. The transaction will take few seconds to complete but TRX will appear after 2 minutes in your TronLink account. So this is the process of withdrawal of TRX from Steemit wallet to TronLink account.

I have explained the process of withdrawal but now let's talk about how to link an external wallet with out Steemit Wallet to claim TRX tokens. For this, we can use TronLink app because it is the best option available right now. To get started, you need to download the extension in your browser or an app for your Android or iOS.

To download the app or extension, go to your wallet and click on Download TronLink wallet and it will take you to tronlink.org website from where you can download the required thing like Android or iOS app or an extension. In my case, I have downloaded Firefox extension.

Now after you have downloaded the extension, you need to create an account. During account creation, you will get seed phrase that you need to store in safest place because if you lost, you will get no access to Tronlink account during password recovery. After account creation, log in to your account and click on Import.

After that a popup in that extension appears, there click on Add Wallet button in the bottom of that page. There you will see three options i.e. Request Account, Import Wallet, and Pair Hardware Wallet. As we are linking external account so click on Import Wallet.

Now you will see a box where it is written to put either your Private key, mnemonic phrase, or Keystore. Put your private key there of TRX account from the TRON Key PDF. The extension is secure so you can put the key there but be careful that other extensions are not of hackers. Once you put your private key there, click on Next and put Wallet name. Then click on Import Private Key button and you are all done. Your account is now linked to TronLink.

The above process was to import your Tron account from Steemit Wallet to Tronlink so that you can access the wallet without logging in to Steemit wallet. But now we need to link external account to our Steemit wallet. For this, you need to get the Tronlink account and it's address. After that, go to your Steemit wallet and click on Link an Existing Tron Account as shown below.

Then a box will appear with a warning message. Read it and do what it says like moving your TRX assets to other safe account and you must have your old address private key in case of returning back to your old account.

Click on Confirm button and then put your Tronlink account TRX address that you copied in the field and again click on Confirm button. Then you will be asked for your Active key or Owner key. Put your active key there and click on Confirm button again to confirm the process. Once done, your external Tronlink account will be linked to Steemit wallet and your new TRX rewards will be claimed in your Tronlink account.

I have explained how to link external account and how to import your TRX account to Tronlink wallet. This is the best method to link external account to your Steemit wallet.

Yes, I faced problem in the past for TRX rewards that was my rewards were not adding in the wallet but after steemitblog update about TRX issue resolved, I got all of my past TRX rewards in my new account for which I have no private key. Currently I am facing issue of private key lost and I can't get my TRX rewards of new Tron account so they are just wasted. If someone can help me to get them I will be very thankful to him.

For new posts and old Tron account, I am not facing any kind of issue. All TRX rewards gets added in my wallet after few hours of claiming the reward.

There are many benefits of Steemit and Tron integration. The first is users will be able to get additional rewards in form of TRX cryptocurrency and they can either sell them or stake them to get even more TRX. Second benefit is users of both platform can learn both platforms' working.

Third benefit is the integration increased liquidity because users of tron blockchain are now part of Steemit and steemit users are also using Tron that increased the liquidity. Another benefit is the integration helped in the growth and development of both blockchains and it improved the trust level of investors and retail traders. With more trust, more investors will come to the platform and the platform will grow.

This is all from me for the "Steemit Crypto Academy Contest / S8W3 - Steem and TRX Integration". I invite @samminator, @malikusman1, @steemdoctor1, @simonnwigwe, @preye2, @lavanyalakshman, and @theentertainer to participate in this contest and tell us what they think about Steem and TRX Integration.