What is TrueFi coin? Where can you buy it?

3 min read | August 06, 2021 06:22 PM AEST | By Daniel Paul Johns

What is TrueFi?

TrueFi is a decentralised finance (DeFi) platform that provides lending without collateral. This is counter to most lending platforms in the digital currency arena, which require the borrower to put down money. Then in the event, the borrower is unable to repay the loan, the collateral is liquidated.

The native token of the TrueFi network is called the Trust (TRU) token. TRU coins can be accessed from a variety of crypto exchanges, including eToro.

However, it should be noted that TRU cannot be purchased with traditional fiat, unlike many other cryptos.

How to purchase TrueFi

To purchase TRU, the user must first purchase Bitcoin, which can be found on any exchange, and then use the Bitcoin to purchase TRU.

The first step is to register to a fiat-to-crypto exchange. The most popular of these is Coinbase. There are, however, other options like Uphold.com. It’s recommended to shop around and see which suits you best.

Source: © Burdun | Megapixl.com

The next step is to use the exchange to purchase Bitcoin.

Since TRU is an altcoin, the next step is to go to an exchange that trades it. One of the more popular of these exchanges is called Binance. Here you can trade a wide variety of altcoins and altcoin pairs.

From here, the user needs to acquire their BTC address which is a series of numbers that provides a unique and secure place to store Bitcoin. Finally, you need to give this address to other users to receive funds.

All that’s left to do is for the user to purchase TRU using their Bitcoin.

At the time of writing, TRU was ranked 364 on CoinMarketCap and was priced at US$0.5708.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.