TeraBlock, the UK-based crypto exchange, has announced the completion of a funding round that will reportedly provide an on-ramp for new crypto users.
It has been reported that TeraBlock said it secured $2.4 million in funding from major investors including AU21 Capital, Blockchain.com, Blocksync Ventures, BTX Capital, CryptoDormFund, and others.
However, the platform was reportedly developed with newbies in mind, providing automation tools that allow users to buy and sell crypto when they are unfamiliar with space.
United Kingdom-based crypto exchange @MyTeraBlock announced the completion of a funding round that will reportedly provide an on-ramp for new #crypto users.#TeraBlock said it secured $2.4 million in funding from major investors.https://t.co/Yf2LHbxUJv — TeraBlock (@MyTeraBlock) April 20, 2021
Muhammad Ali, the Chief Commercial Officer of TeraBlock, said:
“We believe there is pent-up demand for a more comprehensive and easy to use solution for onboarding users to the cryptocurrency ecosystem. TeraBlock can support crypto users through their entire learning curve, giving them all the necessary tools and features under one roof.”
The report said that for crypto newbies, the TeraBlock interface is able to automatically buy and sell certain cryptocurrencies based on the risk-reward index that the user chooses. Launched in partnership with Binance Cloud, the exchange has access to Binance’s liquidity and tokens as well as Know Your Customer (KYC) and Anti-Money Laundering (AML) checks. As more media attention is focused on the crypto space, with Tesla purchasing $1.5 billion in Bitcoin (BTC) and new institutional investors likely helping the industry grow, many newbies are expected to start buying and selling crypto.
Thus, recent data from Unchained Capital suggests that crypto users who have been in the space for less than two years are more likely to sell, while long-term HODLers are keeping their assets in their wallets.