TrueUSD Price, News and Analysis (TUSD)

TrueUSD, part of the TrustToken asset tokenization platform, is a blockchain-based stablecoin pegged to the value of USD. In the TrueUSD system, U.S Dollars are held in the bank accounts of multiple trust companies that have signed escrow agreements, rather than in a bank account controlled by a single company. The contents of said bank accounts are published every day and are subject to monthly audits.  If someone wants to obtain TrueUSD through the online application, they will need to pass a KYC/AML check. Once that’s complete, they can send USD to one of TrueUSD’s trust company partners. Once the funds are verified by the trust company, their API will instruct the TrueUSD smart contract to issue tokens on a 1 to 1 ratio and to send them to the Ethereum address associated with the account at hand. Once in the wallet, the tokens can be transferred to a friend or used as payment, combining the advantages of fiat (stability and trust) with those of cryptocurrencies (reduced fees and transfer times). The user can also redeem real US Dollars by sending the TUSD tokens back to the smart contract address, which will notify the trust company, and initiate a bank transfer to the user’s account. (Description provided by CryptoCompare)

It is not possible to buy all cryptocurrencies with U.S. dollars. Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S. dollars using Coinbase or BlockFi. Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including TrueUSD.

TrueUSD produces its own wallet software that is available for download on its website, which allows you to store TrueUSD on your computer. For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X. If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

One TrueUSD (TUSD) is currently worth $1.00 on major cryptocurrency exchanges. You can also exchange one TrueUSD for 0.00002921 bitcoin(s) on major exchanges. The value (or market capitalization) of all available TrueUSD in U.S. dollars is $1.44 billion.

TrueUSD is a coin that uses the ETH Token algorithm.

The following coins use TrueUSD's ETH Token algorithm and proof-type: Binance USD, Chainlink, Polygon, THETA, DREP, DREP [old], Dai, Aave, PancakeSwap, FTX Token, Maker, Crypto.com Coin, Pundi X, Huobi Token and The Graph.