Last update: Jun 6, 2022

How to Buy TrueFi (TRU)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy TrueFi. Depending on where you’re located, you’ll have various crypto trading platforms to choose from.

In this guide, we not only cover the top 3 global cryptocurrency trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Truefi

How to Buy TrueFi – 4 Easy Steps

1. Choose a crypto exchange

Finding a crypto exchange isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have TrueFi of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger crypto trading platforms.

4. Buy TrueFi

Now that you have what you need to buy TrueFi, head over to the market or buy section of the crypto exchange and buy some TRU.

If the crypto exchange doesn’t have any TrueFi on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has TrueFi first), and trade your Ethereum for TrueFi.

Where to Buy TrueFi (TRU)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell TrueFi

  1. Sign into the crypto exchange where you bought TrueFi.
  2. Move your TrueFi to the right place on the cryptocurrency exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell TrueFi.

 

Crypto trading

How to Buy TrueFi (TRU) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy TrueFi in Australia, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy TrueFi if it’s available. If the exchange doesn’t have TrueFi. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has TrueFi), and trade your ETH for TrueFi.

If you’d like to learn more about the exchanges we prefer, read our list of the most trusted crypto exchanges in Australia.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy TrueFi (TRU) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy TrueFi in Canada, the process remains the same:

  1. Find a crypto exchange below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy TrueFi if it’s available. If the exchange doesn’t have TrueFi. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has TrueFi), and trade your ETH for TrueFi.

Also, check out our comparison of the best cryptocurrency brokers in Canada for those curious to know more about which ones we prefer.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy TrueFi (TRU) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy TrueFi in the UK, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy TrueFi if it’s available. If the exchange doesn’t have TrueFi. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has TrueFi), and trade your ETH for TrueFi.

Or, if you’d like to know more about which exchanges we recommend, look at our list of the crypto brokers in the UK.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying TrueFi? TRU Rundown

TrueFi (TRU), a deFi (decentralized financing) protocol that is geared towards peer-to-peer lending. It is unique because it offers uncollateralized, credit-based, on-chain lending. To accomplish this, the network uses multiple tokens and permissionless lending pools. TrueFi is ideal for both enterprise clients and institutions.

TrueFi can help with a wide range of problems. Centralization is a major problem for both lenders and borrowers. Market abuse is possible when there is centralization. Large lending platforms currently set the rates for this market.

Borrowing funds can be very costly due to the sheer size of these companies and the need for integration of so many third-party verification system because of the fiat currency. This means that it is impossible for the average person or business to make a profit by lending their money through these groups. TrueFi's decentralized technical structure greatly improves the lending process by eliminating middlemen and gatekeepers.

Collateralization requirements are one of the most troublesome scenarios for DeFi loan protocol users. These protocols allow users to collateralize loans and use lending pools without credit checks. This is a necessity that locks up funds that could be used to fund other profit streams. TrueFi is a game changer because it doesn't require collateral from creditworthy borrowers. Borrowers have the ability to submit their applications and be whitelisted for their company or organization. Once you are whitelisted, you can access the loan marketplace.

Anyone who has ever tried to obtain a loan at their bank branch knows that approval is not based on your credit score. The loan agent can often have complete control over your loan status. The loan agent can decide if you " merit" the loan. This could be based on everything from your plans to use the funds to your past or your attitude.

TrueFi removes most of the barriers to loan approval and leaves only your credit to determine your loan's approval. This system allows the market to access a wide range of lending options. You can browse through all the available lending options to find the right loan for you. The developers simplified the approval process for loans to just four steps.

Lending delays are another problem that borrowers face. While you may be approved for funding, it might take up to a week for your loan to be issued if you are discussing centralized options. Approval for larger loans can take several months. This can cause valuable funding to be delayed and not get there in the time it should. TrueFi offers consistent loan issuance, with an average of seven days between loan approval and application.

TrueFi offers many benefits to the market. TrueFi effectively combines P2P lending and advanced DeFi capabilities, including high yield farming or staking protocols. This allows anyone to join the ecosystem and create wealth in a safe manner. It also offers a fast and flexible open lending protocol to the market.

TrueFi's unique lender protection mechanisms are another reason TrueFi is still popular. TrueFi's lending protocol allows users to lend their stablecoins directly to TrueFi lending pools. These pools use predefined strategies that determine creditworthiness to identify borrowers. Lenders can earn additional ROIs by lending to other lenders in return for their efforts.

TrueFi offers on-chain credit scores that can be used to improve borrower experience and loan quality. This system allows borrowers to maximize capital efficiency and create an on-chain credit history. A borrower profile can be created by any organization with significant credit. This will highlight their outstanding repayment history and improve their ability to access funding in the future.

TrueFi (TRU), which is a part of the DeFi movement, offers high yields and keeps it in line. High-yield returns can be secured for stablecoin loan holders. To ensure that lenders and lending pools are solvent, the protocol uses a liquidation process.

Borrowers can also enjoy lower lending rates than centralized alternatives. This system uses market-driven interest rate on unsecured debt to benefit. All interest rates are locked in for the term of the loan.

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author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.