TrueUSD (TUSD) is a stablecoin backed by the US dollar and developed by Trust Token. From this page, you can get all the information about the token, including the current price, price prediction, and how to buy it.
What is TUSD?
TrueUSD (TUSD) is a digital currency that maintains a 1:1 peg with the US Dollar and provides real-time verification of its reserves. Originally launched by the TrustToken platform, which is now known as Archblock, TrueUSD is available on multiple blockchain networks. It is commonly used for trading and transfers on cryptocurrency exchanges and within decentralized finance (DeFi) protocols.
How Does TUSD Work?
TrueUSD operates as follows: each TrueUSD token is backed by a US dollar, meaning that for every token you hold, there is an equivalent US dollar held in reserve. To acquire TrueUSD, you exchange your US dollars for the tokens, ensuring the value remains stable. This straightforward process allows you to trade your TrueUSD back for US dollars whenever needed.
What is the TUSD Price?
The price of TrueUSD can fluctuate due to market demand and supply dynamics. To check the current price of TrueUSD, you can use a cryptocurrency exchange or financial websites / Trading Telegram groups that provide real-time pricing information.
As of June 21, 2024, the price of TrueUSD is $0.999032, reflecting a 0.04% drop compared to the previous day. For real-time data on the token, check here.
TUSD Price Prediction
The cryptocurrency price is always unpredictable, and there are always price fluctuations. Compared to the previous day, TUSD has dropped slightly.
However, TUSD is a stablecoin like USDT and is backed by the US dollar, so you are at low risk with TUSD.
Where to Buy TUSD?
TrueUSD (TUSD) can be purchased on various cryptocurrency exchanges. Some popular exchanges where you can buy TrueUSD include:
How to Trade TUSD?
There are no additional steps for trading TUSD. If you are familiar with crypto trading, you can follow the same steps. If you are new to trading or a beginner, here are the simple steps on how to trade TUSD.
Trading TrueUSD (TUSD) is similar to trading other cryptocurrencies. Here’s a simple guide:
- Choose an Exchange:
- Deposit Funds
- Find TrueUSD Trading Pair
- Place an Order
- Monitor Your Trade
- Withdraw Your TrueUSD:
TUSD White Paper
TrueUSD (TUSD) functions as a digital currency, maintaining a peg to the US Dollar and providing real-time attestations of its reserves. Initially issued by the TrustToken platform, now operating as Archblock, TrueUSD is accessible across various blockchain networks. It serves as a medium for trading and transfers within cryptocurrency exchanges and DeFi protocols.
TUSD Coin Tokenomics
TUSD, an ERC-20 token, aims to drive the widespread adoption of cryptocurrencies. With a circulating supply of 1.2 billion tokens and a market capitalization of $1.2 billion, TUSD ranks among the top 40 cryptocurrencies by market cap.
Is TUSD a Good Investment?
Futures trading is always risky and is not recommended for users with low skill or knowledge. If you are new to cryptocurrency, stick to spot trading. Hold your coins longer and sell them once they have grown or reached an all-time high. Then you can make a significant profit.
If you are outside the USA and your local currency is consistently appreciating, holding the token for a long time can yield significant profit from currency exchange. In 2024, there are several advantages and disadvantages to consider when dealing with cryptocurrency:
TrueUSD Wallet
A TrueUSD wallet is like a digital wallet for holding TrueUSD tokens, which are a type of cryptocurrency that’s pegged to the US dollar. It’s a place where you can store, send, and receive TrueUSD tokens securely. You can get a TrueUSD wallet by signing up for an account on a platform that supports TrueUSD, like a cryptocurrency exchange or a wallet app. Once you have a wallet, you can use it to manage your TrueUSD tokens just like you would with a physical wallet for cash.
TUSD Scam or real
TUSD is not a scam token, and you can invest in it without risk. Currently, it supports many networks such as Ethereum, TRON, BNB Smart Chain, and Avalanche.
TUSD Official Links
- Website: TrueUSD Official Website
- Twitter: TrueUSD Twitter
- Blog: TrueUSD Blog
- Medium: TrueUSD Medium
- Discord TrueUSD Discord
More Key points of TrueUSD (TUSD)
Daily trading volume of TrueUSD (TUSD) – TrueUSD (TUSD) has recorded a trading volume of $34,245,592 over the past 24 hours.
Market cap of TrueUSD (TUSD)? – TrueUSD (TUSD) has a market value of $510,308,139. Market capitalization is calculated by multiplying the token price by the circulating supply, which currently stands at 510 million tokens available for trading.
Here are some key points about TrueUSD:
1 – Stability: TrueUSD is made to always be worth one US dollar. It stays stable by having checks done regularly, and there are always real US dollars kept safe to back it up.
2 – Transparency: TrueUSD wants to be open about what it does. It gets checked by outside accountants often to make sure that the number of TrueUSD coins being used matches the number of real US dollars kept in reserve.
3 – Trust: TrueUSD focuses on being trustworthy and dependable. It follows rules and laws to make sure it’s operating properly and can be trusted.
4 – Tokenization: TrueUSD is based on blockchain technology, specifically the Ethereum blockchain. Being an ERC-20 token means it works with wallets and platforms that support Ethereum, allowing easy storage and transfer.
5 – Use Cases: TrueUSD has many uses. You can trade it on crypto exchanges, use it for sending money across borders (remittances), or even as a stable form of currency in decentralized apps (dApps).
6 – Partnerships: TrueUSD teams up with different companies and platforms in the crypto world to grow its usage and usefulness.
7 – Legal Framework: TrueUSD works within the rules and regulations that apply to stablecoins and cryptocurrencies in the places where it operates, making sure everything is legal and above board.
8 – Decentralized Governance: TrueUSD might let token holders join in decision-making about how the project is run and developed through decentralized governance mechanisms.
TrueUSD (TUSD) FAQ
1. What is TrueUSD (TUSD)?
- TrueUSD is a stablecoin backed by real US dollars at a 1:1 ratio. This means each TUSD token is worth one US dollar, offering stability amidst cryptocurrency market fluctuations.
2. Who Created TrueUSD?
- TrueUSD was developed by TrustToken, and founded in 2017 by Stephen Kade, Danny An, and Rafael Cosman. TrustToken’s goal is to establish a global network of stablecoins by tokenizing various currencies and real-world assets.
3. Why Was TrueUSD Created?
- TrueUSD was created to enable fee-free international value exchange without relying on third-party intermediaries. Compliance with regulatory standards ensures trust among users and lawmakers.
4. What is the Use Case for TrueUSD (TUSD)?
- TrueUSD serves as a reliable store of value, reducing trading risks, resisting inflation, and finding utility in decentralized finance (DeFi) applications. It is increasingly trusted for international value transfers alongside other TrueCurrencies.
5. When Was TUSD Introduced?
- TrueUSD was launched in March 2018, supported by substantial investor funding and a team with expertise from institutions like Stanford, Berkeley, Google, and Palantir.
6. Can You Mine TrueUSD?
- TrueUSD cannot be mined but can be minted. Users complete know-your-customer (KYC) requirements and deposit USD into a third-party escrow account to mint TUSD, which can be used within the cryptocurrency market and redeemed for USD at any time.
7. How Many TrueUSD (TUSD) Tokens Are There?
- The total supply of TUSD varies as tokens are continually minted or redeemed. Real-time information on the circulating supply is available on the TrustToken website.
8. What Kind of Blockchain Does TrueUSD Run On?
- TrueUSD operates as an ERC-20 token on the Ethereum blockchain, alongside other TrustCurrencies like TGBP, THKD, TAUD, and TCAD. The US dollar reserves backing TrueUSD are held in multiple third-party bank accounts, ensuring security and stability.
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