How to buy TrueFi (TRU) in Australia
Learn how to buy TrueFi (TRU) easily by following a step-by-step guide and comparing 10+ crypto exchanges.
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How to buy TrueFi
1. Compare crypto exchanges
The easiest way to buy TrueFi is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
2. Create an account
To create an account on an exchange you will need to verify your email address and identity. Have some photo ID and your phone ready.
3. Make a deposit
Once verified, you can deposit $ using the payment method that best suits you – bank transfer, bpay, cash and cryptocurrency payments are widely accepted.
4. Buy TrueFi
You can now exchange your funds for TrueFi. On easier-to-use exchanges, this is as easy as entering the amount you want to purchase and clicking buy. If you like you can now withdraw your TrueFi to your personal wallet.
Where to buy TrueFi in Australia
Find an exchange to buy, sell and trade TRU by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Steps on how to buy TrueFi
Look for an exchange that supports both fiat and cryptocurrency to simplify buying TrueFi.
- Compare cryptocurrency exchanges that support TRU.
Cryptocurrency exchanges differ by fees, security and payment methods, so you'll need to research which is the right fit for you. As a beginner, you don't need a big range of features, and you can always change exchanges later.
- Create an account on an exchange.
You can sign up for an account by selecting the Go to site button. This will take you to the account creation page, where you can fill in your details, starting with your name and email address..
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy TrueFi.
- Buy TrueFi.
Complete your TrueFi purchase and then find the best wallet to store TRU.
What to consider when buying TrueFi
Cryptocurrencies are highly volatile and risky assets. Before making a purchase an investor should consider all aspects of the token and the associated platform. Here are a few things to consider before purchasing TRU:
- Staking and governance rewards: Those staking TRU tokens are charged with and incentivised to make correct risk assessments for those wanting to borrow funds from the TrueFi ecosystem. For contributing to the governance and safety of the system, users are rewarded with interest that is received from all loans. Stakers can also be rewarded by contributing to the TrueFi liquidity pool, thus ensuring coverage for loans.
- Zero collateral loans: While there are tens of DeFi applications that offer users the ability to borrow funds, there are a lot fewer that offer a zero-collateral option. Although extra details are required regarding a user’s economic stability, for those that are comfortable with providing extra details, TrueFi provides a strong alternative to overcollateralisation that is required for most traditional DeFi loans.
- Team: The TrueFi project was founded by the TrustToken team, a well-known investment community within the cryptocurrency industry. The team is backed by several venture capital (VC) firms and is responsible for moving billions of dollars across more than 100 trading partners worldwide. In addition to support from TrustToken, TrueFi has enjoyed collaboration from Bill Wolf, a known Wall Street veteran, and Ryan Christensen who brings decades of experience from the financial industry.
How to sell TrueFi
You can cash out your TRU with the same exchange you bought it through:
- Sign in to the exchange you have TRU on.
If you store your TrueFi in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of TRU you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of TrueFi.
Disclaimer: Cryptocurrencies, including TrueFi, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of TRU is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the TrueFi or any other cryptocurrency discussed.
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