With TruePnL, users can invest in on-chain trading strategies and DeFi products. TruePnL will potentially be a solid investment to get started on the Polkadot blockchain early on. Here’s everything you need to know ahead of the TruePnL ICO (PNL) on May 18, 2021.
What is TruePnL?
TruePnL is an investment product platform with easy-to-adopt tokenized (on-chain) trading strategies and quantitative trading algorithms. That’s right, even trading strategies and portfolios can be added to the blockchain with a token!
TruePnL’s core products are a robo trading marketplace for “market-proven robo strategies”. They’ll also launch a platform for community-created ETFs and social algorithm trading across the board.
“Robo strategies” may sound scary, but these algorithms analyze big data patterns and trends like moving average crosses and pair trading to maximize profit at the macro level. Quantitative research firms around the world are working on perfecting these algorithms and are currently working at most of the major investment banks.
These algorithms execute trades automatically through a partnership with Binance and have so far achieved promising returns. Below are the robo strategies currently available. You can also see their market caps and returns over multiple time periods. Find out more on their website.
TruePnL ICO (PNL)
TruePnL focused on research and development in the first half of 2020. In the later half of the year, the core functions of robo trading were developed and introduced. In 2021, the team designed the PnL token and started selling seeds.
The PNL token will be made available to the public for the first time on May 18 at 2 p.m. UTC. If you want to take part in the first lottery offer through Ethereum, you must register for the whitelist before it ends on May 16.
A batch lottery on Ethereum will offer 1,218,750 PNL tokens for $ 0.08 per token. This corresponds to around 3.4% of the total offer. Check the full breakdown of the token assignment on the P&L OnePager.
A total of only 327 seats are available. So register soon. If your name is drawn in the lottery, you should have Ethereum ready to make your purchase. You can find more information about the initial offer in this middle post.
How to buy Ethereum for the initial offer
With token sales going live on the Ethereum blockchain, Ethereum is likely your best bet to buy. You need to have this Ethereum ready to stash in a hot wallet (one that is connected to the internet) so that you can purchase your PNL tokens in case your name is drawn in the lottery. You can purchase Ethereum on central exchanges like Crypto.com, Coinbase, Kraken, and Gemini. However, if your IP address is based in the United States, you will need to provide some personal information for tax purposes before you can start trading.
Best crypto exchanges
Here are some of our favorite Ethereum exchanges that can also be used to send Ethereum to a hot wallet. Access to your wallet is required if you want to get your hands on PNL.
Invest in crypto
Invest in crypto
1 minute review
Coinbase is one of the largest trading platforms for cryptocurrencies on the Internet. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it extremely easy to buy and sell important cryptocurrency pairs.
You can even earn cryptocurrency rewards using Coinbase’s unique Coinbase Earn feature. Advanced traders will love the Coinbase Pro platform, which has more order types and advanced features.
While Coinbase doesn’t offer the cheapest prices or the lowest fees, its simple platform is easy enough for beginners to master a single trade.
- New cryptocurrency traders
- Cryptocurrency traders interested in major pairs
- Cryptocurrency traders interested in a simple platform
- Simple platform is easy to use
- Comprehensive mobile app reflects the desktop functionality
- The Coinbase Earn feature rewards you with crypto for learning the coins available
- Higher fees than the competition
1 minute review
Crypto.com is committed to making cryptocurrency a part of everyday life by offering a full suite of services for crypto users. The company offers a Crypto.com App, Exchange, Visa Card, DeFi Swap, DeFi Wallet, DeFi Earn, Crypto.com Price, Stake, Crypto Lending and many other services. However, what really sets them apart is the combination of extremely low fees and incredibly generous rewards programs for their users.
- Merchants who want access to a secure, low-cost cryptocurrency exchange
- Passive investors who want to earn interest on their balance without frequent trading
- Mobile investors who prefer to have all of their crypto needs through their phone or tablet
- Low fees
- High security
- One stop shop for all of your crypto needs (wallet, trading, spending and more)
- Lots of ways to earn Interest, Rewards, and Discounts
- Little privacy
- Customer service response time could be improved
Crypto futures traders
Crypto futures traders
1 minute review
Kraken is a cryptocurrency that offers access to 50+ supported coins and tokens, staking functions, futures trading, and more. Kraken offers a variable maker-taker fee plan that often results in lower fees compared to flat rate brokers.
In addition to a variety of crypto options, Kraken offers customizable ordering platforms and mobile apps that allow you to completely refine your trading experience. There is a lot to love when trading Kraken. It appeals to seasoned professionals as well as new investors who want to learn more about the market.
- Cryptocurrency investors are looking for a wide variety of supported assets
- Crypto futures traders
- Beginners looking for maximum account security
- Wide range of supported tradable assets
- The uncomplicated platform is easy to master for new users
- 24/7 customer service available via live chat
- The fee schedule for manufacturers and consumers can be confusing for some users
- No option for phone or email customer service
1 minute review
Gemini is a cryptocurrency exchange and custodian that gives investors access to 26 coins and tokens. Gemini was founded in the USA and is expanding worldwide, particularly to Europe and Asia. The offer includes both large cryptocurrency projects like Bitcoin and Ethereum as well as smaller altcoins like Orchid and 0x.
Gemini is one of the few brokers with multiple platform options based on skill level. New investors will love the streamlined interface of Gemini’s mobile and web apps, while advanced investors will appreciate all of the tools that come with ActiveTrader.
In addition to a variety of platform options, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft. Find out more about what Gemini can do for you in our review.
- New investors are looking for a simple mobile and web app
- Seasoned investors who need a more advanced platform with more tools
- Users looking for a one stop shop to buy, sell, and store all of their coins
- Quick and easy registration – you can get started in a few minutes
- A variety of platforms for traders of all skill levels
- Hot wallets contain insurance to protect against theft and hacking attempts
- Collects both a commission and a convenience fee for users who buy and sell using the desktop or mobile app
Best Ethereum Wallets
The best choice for quick access to your Ethereum is the proven browser expansion wallet MetaMask or Coinbase Wallet. Either way, make sure you buy additional ether to cover gas fees which are getting pretty expensive these days.
Is TruePnL a Good Investment?
While this investment is primarily speculative, getting started early on a project with solid fundamentals and momentum amid a bull run can produce impressive returns in a relatively short amount of time. In particular, given the roadmap that includes plans to launch on central stock exchanges later this year, this could result in massive new capital flowing into the project.
Gemini develops crypto products that you can use to buy, sell and store bitcoin and cryptocurrency. You can buy bitcoin and crypto instantly and have a clear, attractive interface with all the tools you need to understand and invest in the crypto market. The Gemini Crypto Platform offers great options for account management. You can manage your account at a glance, view your account balance 24-hour changes and percentage changes. Get started with Gemini now.