TRU

Aspect	Information
Short Name	TRU
Full Name	TrueFi Token
Founded Year	2020
Main Founders	Rafael Cosman, Terry Li, Alex Payne
Support Exchanges	Binance, Coinbase, OKEx, Hotbit, 1inch Exchange, Uniswap, Balancer, Sushiswap, Poloniex and PancakeSwap
Storage Wallet	Metamask, Trust Wallet, and hardware wallets like Trezor and Ledger
Customer Support	Discord, Twitter, Telegram, YouTube

Overview of TrueFi Token (TRU)

TRU, also known as TrueFi Token, is a kind of cryptocurrency that was established in 2020 by main founders Rafael Cosman, Terry Li, and Alex Payne. This token can be exchanged on platforms such as Binance, Huobi, and OKEx. For storing TRU tokens, wallets like Metamask and Trust Wallet are used. The purpose and utility of the TRU token connect it to the broader TrueFi platform, a system that allows for unsecured lending and borrowing within the cryptocurrency market.

To obtain more information, you can visit their website：https://https://truefi.io/ and try to log in or register to use more services.

Pros and Cons

Pros	Cons
Partnership with established exchanges	Relatively new in the market
Connection to the TrueFi lending platform	Potential regulatory challenges
Supports unsecured crypto lending	Dependent on the success of DeFi market
Stored in reputable wallets	Volatile market conditions

Pros:

1. Partnership with established exchanges: TRU has strategic partnerships with well-known and popular exchanges, such as Binance, Huobi, and OKEx. These partnerships not only provide a wider reach but also add to the liquidity and stability of the token's transactions.

2. Connection to the TrueFi lending platform: TRU token's association with the TrueFi lending platform opens up unique opportunities within the DeFi space, specifically towards uncollateralized lending. This allows token holders various interaction methods and improved functionality.

3. Supports unsecured crypto lending: The TrueFi platform enables unsecured lending, marking a significant shift in the decentralized finance market. This innovative approach may attract borrowers who are unable to offer collateral but are still deemed creditworthy.

4. Stored in reputable wallets: Storing TRU tokens in respected cryptocurrency wallets like Metamask and Trust Wallet ensures user-friendliness, convenience, and added security.

Cons:

1. Relatively new in the market: Being established in 2020, TRU is comparatively new in the cryptocurrency market. It may take a bit more time to prove its reliability and to gain more widespread traction and acceptance among potential users.

2. Potential regulatory challenges: Being part of the decentralized finance market, the TRU token could face regulatory issues. Changes in cryptocurrency regulations in various countries can impact the overall operations and popularity of the token.

3. Dependent on the success of DeFi market: The success of the TRU token is closely tied to the growth and acceptance of the DeFi market. Any setback in the DeFi space could potentially impact the tokens value and acceptance.

4. Volatile market conditions: Being a cryptocurrency, TRU is subject to the volatility inherent in the crypto market. Changes in market sentiment, regulations, or macroeconomic factors can lead to significant price swings.

Crypto Wallet

The TrueFi Wallet is a secure and versatile mobile cryptocurrency wallet that offers convenient access to your TRU account on both iOS and Android devices. By syncing with the blockchain and providing backup options, the wallet ensures your account is always ready for use. You can log in quickly using your email, Facebook, Gmail, or mobile phone number.

Additionally, the TrueFi Wallet offers desktop access through the website, allowing you to manage your coins on Windows, OSX, Ubuntu, and other Linux-based operating systems. With a focus on high-grade security, the wallet encrypts private keys and implements robust security measures to protect your crypto assets. Even in the event of a lost mobile device, your funds remain safe and can be restored on another device.

What Makes TrueFi Token (TRU) Unique？

The innovation of TRU, also known as TrueFi Token, largely arises from its association with the TrueFi platform that focuses on uncollateralized or unsecured lending within the decentralized finance (DeFi) space. This is a significant departure from the traditional collateral-based borrowing mechanisms that dominate much of the DeFi market, as it opens the door for creditworthy borrowers who may be unable to provide collateral.

This positional uniqueness differentiates TRU from many other cryptocurrencies that operate strictly on collateral or over-collateralization principles in lending. Furthermore, TRU's strategic partnerships with established exchanges like Binance, Huobi, and OKEx, increase the accessibility and potential liquidity for the token compared to some other cryptocurrencies which may be limited to certain exchanges.

How does TrueFi Token (TRU) Work？

TrueFi, the platform on which the TRU token operates, works on the principle of uncollateralized or unsecured lending. The idea is to direct a significant shift in the decentralized financial (DeFi) market, enabling creditworthy users to borrow without providing collateral.

The platform uses a unique approach that involves credit scores and predictive interest rates based on supply and demand. This system assesses the potential borrowers based on their on-chain and off-chain data to determine their creditworthiness. If the community of TRU holders finds the borrower trustworthy, an uncollateralized loan can be issued.

The TRU token itself plays a crucial governance role within the TrueFi platform. The holders of this token have the final say on approving or rejecting loans. It means token holders act as the final line of defense against any potential default risks.

TrueFi also introduces a staking mechanism to incentivize the token holders. Token holders can stake their TRU tokens to earn rewards, which are distributed in TRU tokens. This incentivization and staking phenomena make TRU an integral part of the platform's overall utility and functionality.

Price & Market

Overall Trend: From November 2020 to February 2024, TrueFis price has shown significant fluctuations. The price started at around $0.1335 in November 2020 and reached its peak at $0.7339 in March 2023 before fluctuating back down to around $0.06851 in February 2024.

Volatility: TrueFis price has experienced high volatility, with substantial price swings within short periods. For example, the price increased from $0.1372 in December 2020 to $0.6234 in February 2021, demonstrating rapid growth and fluctuations.

Monthly Trends: TrueFis price tends to fluctuate on a monthly basis, with some months showing significant price increases, while others experiencing declines. For example, March 2023 saw a significant spike in price, while the price decreased in the following months.

Market Cap: The market capitalization of TrueFi has also varied along with the price fluctuations, indicating changes in the overall value and perception of the cryptocurrency in the market.

Exchanges to Buy TrueFi Token (TRU)

TRU, or TrueFi token, is supported by a diverse assortment of exchanges which facilitates the purchasing and trading of this particular cryptocurrency.

1. Binance: As one of the world's leading cryptocurrency exchanges, Binance offers the TRU token trading against pairs including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB).

Step
1	Create a free account on the Binance website or app and complete the verification process.
2	Choose how you want to buy TrueFi:
	A. Buy TrueFi with Debit/Credit Card:
	- Navigate to the buy TrueFi with USD page on Binance.
	- Select TrueFi and USD from the dropdown menu.
	- Choose “Card” as the payment method and click “Confirm”.
	- Enter card details and confirm the order.
	- Verify the payment on your banks OTP transaction page.
	- TrueFi will appear in your Spot Wallet.
	B. Buy TrueFi with Google Pay or Apple Pay:
	- Navigate to the buy TrueFi with USD page on Binance.
	- Select TrueFi and USD from the dropdown menu.
	- Choose “Google Pay” or “Apple Pay” and press “Confirm”.
	- Click the “Buy” button to complete the purchase.
	- TrueFi will appear in your Spot Wallet.
	C. Third Party Payment:
	- Explore available third-party payment channels in your region on the Binance FAQ.
3	Check the payment details and fees, ensuring to confirm the order within the given time frame for the price.
4	Store or use your TrueFi:
	- Keep it in your personal crypto wallet, Binance account, trade for other cryptos, stake on Binance Earn,or transfer to Trust Wallet for decentralized exchange trading.

See this link for details on how to buy TrueFi: https://www.binance.com/en/how-to-buy/truefi-token.

2. Coinbase: Coinbase is a popular cryptocurrency exchange platform that allows users to buy, sell, and store a variety of cryptocurrencies.

Step
1	Download the Coinbase app and start the sign-up process, preparing a valid ID and proof of address for verification.
2	Add a payment method by connecting a bank account, debit card, or initiating a wire transfer in the payment method section.
3	Start a trade by selecting “Buy & Sell” on Coinbase.com or tapping the (+) Buy button on the Home tab in the Coinbase app.
4	Select TrueFi from the list of assets by clicking the Buy panel and searching for TrueFi or typing “TrueFi” in the app search.
5	Enter the desired amount of TrueFi by inputting the local currency amount, which will be automatically converted by the app.
6	Finalize the purchase by tapping “Preview buy,” reviewing the details, and confirming the transaction by clicking “Buy now.”
7	Once the order processes, view the confirmation screen to complete the purchase transaction successfully.

See this link for details on how to buy TrueFi: https://www.coinbase.com/how-to-buy/truefi-token.

3. OKEx: OKEx offers a variety of trading pairs for TRU, including TRU/BTC, TRU/ETH, TRU/USDT.

4. Hotbit: On this platform, TRU can be purchased with trading pairs including TRU/USDT.

5. 1inch Exchange: TrueFi (TRU) token can be traded against multiple pairs on 1inch Exchange, a decentralized exchange (dex) that aggregates different platforms.

6. Uniswap: Being a decentralized exchange, Uniswap presents the TRU/ETH pair for trading.

7. Balancer: Another decentralized exchange that supports TRU tokens. It enables liquidity providers to create or join liquidity pools and trade TRU tokens.

8. Sushiswap: As an automated market maker (AMM) decentralized exchange (dex), Sushiswap supports the TRU/ETH pair.

9. Poloniex: On Poloniex, users can trade TRU with pairs like TRU/USDT.

10. PancakeSwap: PancakeSwap, a Binance Smart Chain-based DEX, also supports trading of TRU/BNB pair.

How to Store TrueFi Token (TRU)？

Storing TRU involves digital wallets that are capable of handling cryptocurrency transactions. These wallets allow users to send, receive, and store their TRU tokens securely. The type of wallet chosen can depend on specific needs such as level of security, ease of use, mobility, and more.

1. Metamask: A popular web-based wallet that is often used for interacting with decentralised applications (dapps) in the browser. Metamask supports all ERC-20 tokens, which includes TRU. It can be downloaded as a browser extension and also has a mobile version.

2. Trust Wallet: A mobile-oriented wallet that supports multiple cryptocurrencies including all ERC-20 tokens. It offers an easy-to-use interface and allows users to manage their cryptocurrencies directly from their phone.

3. Hardware wallets such as Trezor and Ledger: These are physical devices that store your private keys offline, providing an additional layer of security against attacks. TRU, being an ERC-20 token, should be supported on these devices.

4. Web or Online Wallets: Wallets such as MyEtherWallet and MyCrypto support TRU as they handle ERC-20 tokens. These wallets are accessible via the web and can be used to manage tokens directly from your browser.

5. Mobile Wallets: Apart from Trust Wallet, other mobile wallets such as Coinomi and Exodus also support ERC-20 tokens like TRU. These wallets offer mobility and convenience.

6. Desktop Wallets: Wallets such as Exodus and Atomic Wallet that can be installed directly on your computer and allows management of cryptocurrencies, including TRU, from your desktop.

Is It Safe？

The security of TrueFi is ensured through the decentralization provided by the TrueFi governance token, TRU, which empowers holders to govern the protocol, approve new managers and borrowers, and oversee key treasury and partnership decisions, thereby safeguarding the integrity and transparency of the credit system while bringing debt infrastructure onto the blockchain for increased accessibility, transparency, and programmability.

How to Earn TrueFi Token (TRU)？

- Staking: You can earn TRU tokens by participating in staking programs where you lock up your TRU tokens for a set period of time to support the network and earn rewards.

- Participating in Governance: Engaging in the governance activities of the TrueFi protocol by voting on proposals, contributing to discussions, and actively participating in decision-making processes can earn you TRU tokens as incentives for your involvement.

- Borrowing and Lending: In some cases, borrowing or lending assets on the TrueFi platform offers TRU token rewards as part of the incentive structure for users.

- Yield Farming: Participating in TRU token yield farming programs where you stake or provide liquidity with TRU tokens and other assets to earn additional TRU rewards.

Conclusion

TRU, also known as TrueFi Token, is a cryptocurrency that operates on the TrueFi platform, a system focused on unsecured lending within the DeFi sector. Being established in 2020, it is relatively new to the market and, consequently, carries various inherent risks and rewards. It differentiates itself by being connected to the TrueFi platform, offering potential opportunities in the rapidly growing DeFi space.

As for the prospects of TRU, it hinges largely on the acceptance and proliferation of uncollateralized lending in DeFi, as well as the overall health of the DeFi market itself. Its partnerships with reputable exchanges, connection with the lending platform, and storage in reliable wallets do yield promising directions.

However, when it comes to investing in TRU or any cryptocurrency, potential for making money or appreciation cannot be guaranteed. Like all investments, TRU is subject to market volatility, and its value may both increase or decrease. Every investor should make careful considerations, conduct extensive research, and consult with financial advisors to understand the associated risks and the potential returns of such an investment.

FAQs

Q: Where can I buy TRU？

A: TRU can be purchased on multiple exchanges, including major platforms like Binance, Huobi, OKEx, and also on decentralized exchanges like Uniswap and Sushiswap.

Q: Which wallets can store TRU？

A: TRU, being an ERC-20 token, can be stored in various wallets that support this standard, including Metamask, Trust Wallet, and hardware wallets like Trezor and Ledger.

Q: How does the TrueFi platform, associated with TRU, operate？

A: TrueFi operates by facilitating uncollateralized lending in the DeFi sector, using an innovative approach that determines the creditworthiness of borrowers through on-chain and off-chain data.

Q: How is TRU different from other cryptocurrencies？

A: TRU differentiates itself by its link to the TrueFi lending platform, enabling unsecured lending in the DeFi sector, contrary to the typical collateral-based borrowing in most DeFi markets.

Risk Warning

Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.