The Corsair TX550M (2021) is a very good PSU, managing to keep its relative performance below the RM550x (2021) which belongs in a higher category in Corsair's portfolio of products. If the TX550M scored higher than the model mentioned above, it would create a severe internal competition problem. The performance difference would be smaller, with a slightly better ripple suppression at 12V and better transient response at 3.3V. Still, the RM550x has a significant advantage in noise output. The TX550M is not noisy, but the RM550x behaves like a passively-cooled PSU!
There are some worthy opponents in this category, including Super Flower's Leadex III Gold 550 unit, which also features RGB lighting, the be quiet! Pure Power 11 FM 550 and the Corsair RM550x. If you don't mind the semi-modular cable design, the TX550M is a good choice, and it comes with two EPS connectors, supporting even high-end mainboards and power-hungry CPUs. A major con for some can be the only three SATA connectors. There should be another SATA cable, increasing the number of the corresponding connectors to six. Nevertheless, this doesn't change much that the TX550M is worth your money.
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Disclaimer: Aris Mpitziopoulos is Tom's Hardware's PSU reviewer. He is also the Chief Testing Engineer of Cybenetics and developed the Cybenetics certification methodologies apart from his role on Tom's Hardware. Neither Tom's Hardware nor its parent company, Future PLC, are financially involved with Cybenetics. Aris does not perform the actual certifications for Cybenetics.