Torum XTM Price

What is Torum (XTM)?

Torum (XTM) is a social media platform and ecosystem designed specifically for cryptocurrency enthusiasts and users. Launched in 2020, it aims to bridge the gap between cryptocurrency and social networking by allowing users to connect, share, and engage in various activities related to digital assets. The platform integrates elements of social media, decentralized finance (DeFi), and non-fungible tokens (NFTs), fostering community interaction while also providing tools for cryptocurrency trading and investment.

As of early 2024, Torum has gained significant traction, with over 500,000 registered users and partnerships with various blockchain projects. The native token, XTM, is used for transactions within the platform, including rewards for content creators, staking, and governance. The ecosystem promotes a decentralized approach, where users can earn rewards through participation and contribute to the platform's growth.

Who are the Founders of Torum?

Torum was founded by a team of blockchain enthusiasts and entrepreneurs, including the co-founders, who are:

• Shahril Azhar: With a background in finance and technology, Shahril has been instrumental in shaping the vision of Torum and driving its development.
• Wong Chen Wei: An expert in blockchain technology, Chen Wei has played a key role in the platform's technical architecture and implementation.
• Lee Zhi Wei: Focused on marketing and community building, Zhi Wei has helped to expand Torum's user base and partnerships within the crypto space.

This founding team has leveraged their diverse expertise to create a platform that caters to the needs of the crypto community while fostering innovation and engagement.

How does Torum Work?

Torum operates as a multi-functional platform that integrates various features to enhance user experience in the crypto space. Here’s how it works:

• Social Networking: Users can create profiles, connect with other cryptocurrency enthusiasts, share updates, and participate in discussions. This social aspect encourages collaboration and knowledge sharing.
• Content Creation: Users can generate and publish content related to cryptocurrencies, which can be rewarded with XTM tokens based on engagement metrics like likes, shares, and comments.
• Marketplace: Torum features a marketplace for users to buy, sell, and trade NFTs. This allows creators to monetize their digital art and collectibles while providing buyers access to unique assets.
• DeFi Features: The platform includes integrated DeFi services, such as staking, where users can lock their XTM tokens to earn passive income and participate in governance activities.
• Community Events: Torum regularly hosts events, contests, and giveaways to engage users and promote interaction within the community.

Through these functionalities, Torum creates a vibrant ecosystem where users can engage with one another, trade assets, and explore new investment opportunities, all while being rewarded for their participation.

Top Use Cases of Torum

Torum offers a diverse range of use cases that enhance the value proposition of its ecosystem:

• Social Engagement: Users can interact with others in the crypto community, fostering discussions and collaborations that can lead to new ideas and projects.
• Content Monetization: Creators can earn rewards through their contributions, making it a viable platform for influencers and content producers in the crypto space.
• NFT Trading: The marketplace allows users to buy, sell, and trade NFTs, providing a platform for artists and collectors to engage in the growing NFT market.
• Staking and Rewards: Users can stake their XTM tokens to earn rewards, incentivizing long-term holding and participation in the governance of the platform.
• Decentralized Governance: XTM token holders can participate in decision-making processes regarding platform upgrades and community initiatives, ensuring that the ecosystem evolves according to user needs.

These use cases highlight Torum's commitment to creating a multifaceted community platform that caters to various aspects of the cryptocurrency experience.

How to Keep your Torum Safe?

Ensuring the safety of your Torum account and assets is crucial in the cryptocurrency space. Here are some tips to keep your Torum experience secure:

• Use Strong Passwords: Create a unique, complex password for your Torum account that combines letters, numbers, and special characters. Avoid using easily guessable information.
• Enable Two-Factor Authentication (2FA): Activate 2FA on your Torum account to add an extra layer of security. This requires a second form of verification, such as a code sent to your mobile device.
• Be Wary of Phishing Attacks: Always verify the URLs and ensure you're accessing the official Torum website or app. Be cautious of unsolicited messages or emails requesting your login information.
• Keep Software Updated: Ensure that your device’s operating system and any apps related to Torum are kept up to date to protect against vulnerabilities.
• Secure Your Private Keys: If you’re using a wallet for XTM tokens, make sure to securely store your private keys and never share them with anyone.

By following these safety measures, users can protect their assets and enjoy a secure experience on the Torum platform.