What is TrueUSD? TrueUSD is a stablecoin project that tracks the value of the US dollar at a ratio of 1:1. In this article, you can find answers to your questions such as what is TrueUSD, what it offers, how to buy TUSD, what it is used for. As Kriptokoin.com, we have prepared it for our curious readers. Let’s examine the project together.
What is TrueUSD (TUSD)?
Stable coins are cryptocurrencies that follow the price of fiat currencies such as dollars and lira in a 1:1 ratio. Investors use these cryptocurrencies to protect themselves from high volatility and risks in the markets. TrueUSD is one such cryptocurrency. TUSD is a USD-integrated stablecoin released by the TrustToken platform, which focuses on tokenizing real-world assets. Similar to other stablecoin projects, the project aims to facilitate increased liquidity and provide hedging opportunity to crypto traders.
Cryptocurrency is a centralized stablecoin. This means that the asset is managed by a particular company. Managed by the TrustToken company, the stable coin aims to offer high security, in addition to the stability and utility offered by such cryptocurrencies. Expressed by the company as “the first regulated stable coin fully backed by the US dollar,” TrueUSD allows its holders to earn annual passive income. At the time of writing, TUSD, with a market cap of around $1.35 billion, was the 71st largest cryptocurrency. In addition, 1.36 billion stablecoins were in circulation.
What are the advantages?
- TrueUSD is a good starting coin for users new to the cryptocurrency markets, due to its stable price to the dollar.
- Many cryptocurrencies have high volatility. The value of stable coins, on the other hand, follows real world currencies. TUSD, a stable coin indexed to the US dollar, attracts investors who want to hedge against volatility.
- Users can access the advantages offered by blockchain projects without being affected by the risks arising from high volatility through stablecoin.
What are the disadvantages?
- The stable coin area includes cryptocurrencies such as USDT, USDC with a market cap greater than TrueUSD. TUSD may fail to compete with other stablecoins and fall back.
- Stable coin does not offer the opportunity to make high profits due to its dollar indexed price. The price volatility of the cryptocurrency is quite low, so the value of the asset fluctuates within a narrower price range.
How to buy TUSD?
TUSD is supported by many major cryptocurrency exchanges. Currently, crypto exchanges such as Binance, Huobi Global, OKX, and Mandala Exchange list the stablecoin. Users who want to buy TrueUSD can purchase stablecoins by signing up for one of these exchanges and depositing money in their wallets.
5035
