TrueFi is a technology that allows liquidity providers to create interest-bearing pools with a high APR. TrueFi uses TrustTokens (TRU) as a utility and incentives system, rewarding players for maintaining stable, high APRs.
TRU is the TrueFi protocol’s native token, and it’s used for: TrustToken holders have the final word on who is a credible borrower in the prediction market. TRU allows the account holder to rate credit for third parties. TRU credit rating allows for the creation of a permissionless credit system based solely on incentives. TRU shareholders have a stake in the development of a new credit system.
TRU became traded for the first time on November 19, 2020. There are 1,441,129,427 coins in circulation. TRU now has a market capitalization of $738,838,207.94 USD. TRU is currently trading at $0.510 and is number 263 on Coinmarketcap, with a recent gain of 89.28% at the time of writing.
TRU has been listed on several cryptocurrency exchanges, however unlike other major cryptocurrencies, it cannot be purchased using fiat currency. However, you may still get this coin by first purchasing Bitcoin on any fiat-to-crypto exchange and then transferring to an exchange that trades TRU. In this tutorial article, we will lead you through the procedures to purchase TRU in detail.
You must first purchase one of the major cryptocurrencies, such as Bitcoin (BTC). In this article, we’ll go over two of the most popular fiat-to-crypto exchanges, Uphold.com and Coinbase, in depth.
Once you’ve completed the KYC procedure. You’ll be prompted to provide a payment method. You have the option of using a credit/debit card or a bank transfer here. When you use a credit card, you will pay a greater cost, but you will be able to make a transaction right away. While a bank transfer is less expensive but takes longer, depending on your place of residence, some countries provide low-cost quick cash deposits.
But we’re not finished yet; because TRU is an altcoin, we’ll need to move our BTC to an exchange where TRU can be exchanged; in this case, we’ll utilise Gate.io. Gate.io is a popular alternative currency exchange with a significant number of tradable cryptocurrency pairs.
You may be asked to go through another KYC process, which might take anywhere from 30 minutes to a few days depending on the exchange’s requirements. The procedure, however, should be straightforward and simple to follow. After that, you should have complete access to your exchange wallet.
The string of random numbers that says ‘BTC address’ in the box on the right is a unique public address of your BTC wallet at Gate.io, and you can receive BTC by presenting this address to the person sending you the coins. Because we’ll be moving BTC from Coinbase to this wallet, click ‘Copy Address’ or right-click on the whole address and select copy to copy the address to your clipboard.
Return to Coinbase, go to the Portfolio page, select BTC from your asset list, and then click ‘Send’ on the right.
Paste the wallet address from your clipboard into the Recipient field. To continue, click ‘Send.’ You should immediately receive a confirmation email; click the confirmation link in the email, and your coins will be on their way to Gate.io!
There’s a search bar in the right column; make sure “BTC” is chosen because we’re trading BTC for altcoins. When you click on it and enter in “TRU,” you should see TRU/BTC appear. Select that pair, and a price chart for TRU/BTC should appear in the middle of the page.
TRU is available for purchase on gateio.
Below is a box with a green button that says “Buy TRU.” Inside the box, select the “Market” tab, which is the most straightforward sort of buying order. By clicking on the % buttons, you can either enter in your amount or choose what fraction of your deposit you want to spend on purchase. After you’ve double-checked everything, click “Buy TRU.” Voila! You’ve finally purchased TRU!