TRY is the TrueFi project's liked-named native cryptocurrency, which is a protocol providing lending services. For those seeking to earn, it provides an opportunity to invest funds at a high interest rate. As for users in need of working capital, it gives them the opportunity to receive funds even without collateral. The project's coin is listed under the ticker TRU on trading platforms.
The protocol captured special attention on August 5, 2021, when the price of the cryptocurrency TRY rose more than 300% just in a day. In this article let's take a closer look at the principles of the project and get the experts' opinion about its future prospects. And most importantly - let's find out if it is worth investing in this coin.
One of the features of the protocol is complete transparency. Lenders get detailed information about the people applying for loans and can study the cash flow. It works in the following way:
Over time, a base of high-quality borrowers who bring relatively stable profits to the lenders is formed. This keeps TrueFi growing.
As the protocol improves, it is expected that those who decided to buy TRY crypto at a favorable rate, or received it as a reward, will have the opportunity to vote not only on loan applications, but also on possible directions for the entire protocol.
The project has existed for a little over a year. When TRY cryptocurrency became possible to buy on major exchanges, the rate was $0.24 per coin. Now, a year later, the value is at $0.4. However, at the peak, as seen on the chart, the price reached $0.72. So, some users were able to sell the coins three times more expensive than they were bought (especially taking into account the fact that the price was lower than the starting price a couple of times and was kept on that level for about 2 months).
Sharp rises of TRY crypto, as well as falls, are natural. Almost all new projects in the market go through these cycles. This is even an advantage, since you can wait for another drawdown to buy cryptocurrency TRY at a rate below average.
Experts believe that the project will develop successfully, because over the past year, it has already proven to be a reliable and profitable way to invest money. Since TRY tokens allow you to participate in the development of TrueFi, and vote on outstanding loans, it is likely that this cryptocurrency will gradually grow. Of course, we're talking about the long term - in short timeframes, it's almost impossible to predict the price dynamics of a not very big project.
Investing in this project won't be a mistake, even though there is a risk involved. However, a new market participant can easily make a wrong choice when choosing a platform for buying cryptocurrencies. There are a lot of exchangers and other platforms, and not all of them work faithfully and honestly.
That's why you should trust only licensed exchangers, such as Broex. It belongs to a company officially registered in Estonia, which has passed all the checks of the state authorities. Not only does this speak to the reliability of the exchanger, but it also allows you not to worry when using it to buy and store cryptocurrencies.
In addition, however, there are other advantages of Broex worthy of your attention:
Broex allows you not only to buy digital assets, but also to access them directly through your personal account, trusting their storage to the company. That is, you don't have to withdraw coins to third-party wallets at all, because the latter is not convenient for everyone. Broex will keep your assets safely, and you can save your time and spend it on more important things. For example, to study new crypto projects.
Register on Broex now to buy TRY crypto, bitcoin or any other popular coins at the current exchange rate!