TrueFi received capital from Alameda (Andreessen Horowitz) and Alameda. The resulting price rise left other coins in the dust.
After a remarkable 435% increase in TrueFi today, successful funding round raised $12.5 million. TrueFi stands out among the many other DeFi protocols because of its innovative, incentive-based and uncollateralised lending system. It is an alternative way to traditional ways of doing things in this sector. Alameda, BlockTower and a16z are now among the investors.
Continue reading to learn more about TrueFi’s rise today. We’ll also show you how and where to buy TRU today.
Where to find TrueFi in the UK and other countries
TRU tokens may be obtained from a variety of reliable brokers and exchange services. We’ve shortlisted two of the best platforms below for your convenience: simply join one and create a free account and make a deposit to get started.
Avoid decentralised exchanges (DEXs), as they are often unregulated. This would mean that your investment is not protected in case of hacking or fraud.
eToro, one of the most popular multi-asset trading platforms in the world, offers some of the best commission and fee rates in this industry. Its social copy trading capabilities make it an excellent choice for beginners.
Today, buy TRU with eToro
BitPanda is an Austria-based Bitcoin broker. It offers a wide variety of payment methods at affordable prices.
Bitpanda TRUs available for purchase
What is TrueFi, and how does it differ from other solutions?
TrueFi is a platform for decentralised finance (DeFi), which offers uncollateralised lending. DeFi lending platforms are typically collateralized. Borrowers deposit collateral that is then liquidated in case they can’t repay their loan. DeFi loans are easier to get than traditional loans such as mortgages. However this requires a long vetting process to ensure that the likelihood of repayment is assessed.
TrueFi sits at the intersection of these two processes. TRU tokens are used for vouching for creditworthiness. People with better reputations will be able to get loans more easily. Voting for defaulters is punished and holders are incentivised to choose trustworthy borrowers. This innovative mechanism lowers entry barriers: DeFi loans are highly collateralized and require large amounts of capital. This makes it difficult to obtain large loans for people who have substantial capital reserves.
Do I need to buy TRU right now?
The logic behind recent investmentsTrueFi’s unique mechanics make it clear. Investors will be eager to invest in a product that has been backed by highly successful venture capitalists like Andreessen Horowitz.
TrueFi is currently at $0.8248. This is an all-time high. There are still opportunities for late entries to make even more gains in this rally.