Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
TrueFi (TRU) is the 442nd largest cryptocurrency by market cap, valued at US$45,122,250.
TrueFi is a highly volatile asset capable of major price swings in a single day. Today TRU is trading for $0.04265206 USD, which is lower than yesterday's trading price of $0.0431091637 USD. Over the past year, TrueFi's price has seen a decrease of -51%.
So before you buy TrueFi, make sure you understand these unique risks as well as its legal and tax status here in the UK.
If you're ready to get started, read on for step-by-step instructions on how you can use to buy TrueFi.
How to buy TrueFi in 4 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
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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.
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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.
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Make a deposit
Once verified, you can deposit GBP using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
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Buy TrueFi
You can now exchange your funds for TrueFi. On easier-to-use exchanges, this is as simple 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 the UK
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 exchange.
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
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How we keep this TrueFi guide up-to-date
- TRU price data is regularly updated through data feeds so you always have the latest information.
- TrueFi performance data is regularly updated using automated comparisons and AI systems built by our technical experts Zak Killermann and Helen Hu.
How do I find the best places to buy TrueFi?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in the UK to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy TrueFi?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading TrueFi.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing TRU with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What is the easiest way to buy TrueFi?
The easiest way to buy TRU is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying TRU, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of TrueFi has been performing recently.
Best TrueFi wallets to store your TRU
You can keep your TRU on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your TRU below.
Ledger Nano X Wallet |
Trezor Model T Wallet |
SafePal S1 Wallet |
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Supported assets 5,500+ |
Supported assets 1,317+ |
Supported assets 30,000+ |
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Price (USD) $149 |
Price (USD) $186 |
Price (USD) $49.99 |
See more of the best crypto wallets
Crypto is unregulated in the UK; there's no consumer protection; value can rise or fall; tax on profits may apply*.
Is TrueFi a good investment?
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.
Additional information about TrueFi can be found using our TRU analysis tools.
Today's TrueFi price versus ATH
Compare today's price of TrueFi ($0.04265206 USD) against its all-time-high price of $1.017 USD on 12 August 2021. The closer the bar is to 100%, the closer TRU is to reaching its ATH again.
TrueFi's price: $0.04265206
ATH date: August 12, 2021
ATH date: August 12, 2021
4.19%
TrueFi ATH: $1.017
How to trade, convert or sell TrueFi
You can convert or sell 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 convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of TRU you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of TrueFi.
- Complete your transaction and move your TRU to a wallet for storage.
Get started with crypto
Crypto exchanges and wallets
Learn about other cryptos
* Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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