UK-headquartered crypto exchange TeraBlock reportedly revealed details of the finalization of a funding round, which looks to offer an on-ramp for crypto newbies.

Specifically, TeraBlock reportedly disclosed that it has successfully obtained $2.4 million in funding from top-tier investors, nominally AU21 Capital, Blockchain.com, Blocksync Ventures, BTX Capital, CryptoDormFund and others. 

The platform was reportedly designed to primarily cater to newbies, which comes with automation offerings enabling users to purchase and sell crypto when they have not been used to the sector yet.

“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”. TeraBlock chief commercial officer Muhammad Ali reportedly remarked. 

As for newcomers to crypto, the TeraBlock interface reportedly offers the freedom for automated purchase and selling of particular virtual coins, dependent on the risk-reward index of the user’s choosing. 

Rolled out via a collaboration with Binance Cloud, the exchange is able to tap into Binance’s liquidity and tokens, along with Know Your Customer and Anti-Money Laundering checks.

As the crypto sphere is gaining increasing attention from the general media, where Tesla has finalized the acquisition of $1.5 billion in Bitcoin (BTC) and new institutional investors are keen on assisting the development of the sector, numerous newcomers are expected to begin the selling and purchasing activities of crypto. 

Insights generated by Unchained Capital reportedly showed that crypto users who are involved in the sphere for under 24 months have a higher tendency to sell. while long-term holders are keeping their assets in their wallets.