Everything You Need to Know About TUSD in 2023

True USD (TUSD) is one of the most popular stablecoins in the fully collateralized cryptocurrency market.

Everything You Need to Know About TUSD in 2023

Before talking about what to know about TrueUSD, it is beneficial to briefly mention what stablecoins are.

What is a Stablecoin?

Stablecoins are cryptocurrencies pegged to less volatile external assets such as fiat currencies, precious metals, or oil. The supply or value of a stablecoin can also be pegged to other crypto assets or fixed by algorithms. Instead of going through dramatic price fluctuations, stablecoins maintain the same value as their underlying assets.

TrueUSD

TrueUSD (TUSD) is a transparent and verified stablecoin that debuted in early 2018. An ERC-20 token, TUSD is pegged 1 to 1 to the US Dollar, making it the first crypto asset built on the TrustToken platform. TUSD is designed to be a simple and reliable stablecoin. For this reason, it does not use any special algorithms and does not use a secret bank account.

TrueUSD’s US dollar assets are held in various bank accounts belonging to trusted companies. With the trusted mechanism provided by the project’s creators, the TUSD token provides legal protection to its holders while mitigating risk. They have also signed an agreement to publish the assets collateralized by interested parties on a daily basis and to conduct audits on a monthly basis.

TrueUSD was Made for Whom?

According to the project’s creators, here is how TUSD can benefit and for whom.

• Traders and exchanges. TrueUSD is a great tool to hedge against market volatility and enter markets without buying into BTC/ETH first.
• Mainstream commerce. Every day people and businesses can take advantage of the benefits offered by blockchain technologies without exposure to massive price fluctuations.
• Developing economies. The developing markets can use stable currencies for trade.
• Long-term financial contracts like loans, salaries, or predictions markets.
• Financial institutions can use trustworthy assets to trade in the crypto markets.  

How in Theory? How in Practice?

Essentially, all stablecoins are built on the theories mentioned above, but the important thing is to be able to provide them. A good example is the recent Silicon Valley Bank (SVB) crisis. While many stablecoins were unable to maintain their value due to the crisis, TUSD was among the best at maintaining its stable value.

How and Where to Buy TrueUSD Tokens?

Users who want to buy TUSD can buy this token in three different ways. The first of these is Centralized Exchanges. Users who want to buy TrueUSD can buy it from the following exchanges with the specified cryptocurrencies.

• Binance (tradeable with BTC, ETH, USDT, BNB).
• HitBtc (tradeable with BTC, ETH, USDT, DAI, XMR, NEO, LTC, ZRX).
• Bittrex (tradeable with BTC, ETH, USDT, USD). 
• Kryptono, Upbit (tradeable with BTC, ETH, USDT). 
• Cashierest (tradeable with BTC, ETH, KRW). 
• Hotbit, Bit-Z (tradeable with BTC, ETH, USDT). 
• P2PB2B (tradeable with BTC, ETH). 
• Vebitcoin (tradeable with BTC, ETH, TRY, ADA, TRX, MIOTA, XVG, BTG, ETC).
• HBUS, OKEx (tradeable with BTC, USDT). 
• CPDAX, DigiFinex, CoinTiger (tradeable with BTC).

Secondly, users can buy TUSD through the TrueUSD app. Finally, TUSD can be obtained using Changelly and Faast, other instant exchanges.

Similar Stablecoin Projects

In addition to TrueUSD, some similar stablecoins are as follows:

• Tether (USDT): The most established and popular stablecoin on the market.
• USD Coin (USDC): An ERC-20 token designed by Circle.
• Gemini Dollar (GUSD): An ERC-20 token pegged to USD, a product of the Gemini exchange.
• Paxos Standard Token (PAX): ERC-20 token backed by USD.
• Dai (DAI): The first decentralized stablecoin released by Maker.
• bitEUR (BITEUR): A Euro-backed stablecoin issued on the BitShares blockchain.
• bitUSD (BITUSD): is a USD-backed stablecoin issued on the BitShares blockchain.
• Stasis Eurs (EURS): A collateralized ERC-20 token pegged to the Euro.
• nUSD (NUSD): An ERC-20 token created by the Havven Foundation.
• White Standard (WSD): A USD-pegged stablecoin on the Stellar protocol.

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