TrueUSD Kurs

TrueUSD is a stable coin presented in 2018 by the TrustToken stage. This stable coin doesn't utilize a special algorithm or any hidden bank accounts as it is made to be transparent. TrueUSD has a 1 to 1 proportion with USD where the US dollars which back it up are circulated in numerous protected bank accounts. The holders of those accounts have signed an agreement in which they consented to publish the collateral in their records consistently. This likewise provides the token holders with a more elevated level of safety and legitimate security if something illicit happens to their tokens.

TrueUSD has various utilizations relying upon the requirements of the holder. It can serve individual traders as it very well can be hedged against volatility, give clients the advantages that accompany blockchain technology and it tends to be utilized as a stable currency for any developing market battling with price fluctuations. The entire network runs through the outsider escrow accounts. At whatever point one of the escrow accounts receives one US dollar a new TrueUSD token is minted and whenever someone takes back their USD an equivalent amount of TUSD is instantly burned Through this the organization ensures that the token always remains at a 1 to 1 ratio with the US dollar.

To use TUSD you must first get your hands on some of these tokens as they can be bought on some major exchanges. From then on you can use it in daily transactions which allow you to reach any place on the globe, and include low volatility as well as high transaction speed. To redeem your TUSD you will need to send them to a TrustToken controlled address and from there they will destroy the number of tokens you wish to redeem and send fiat currency directly to your bank account.

TUSD serves as a stable currency for exchanging digital assets where each token is collateralized by the US dollar and the bank accounts which the protocol uses are trusted as the network does a background check. Also, another thing that adds to the transparency of the project is the fact that the amounts in those bank accounts are disclosed every month. Also, the funds which you are transacting are never in the possession of the protocol as you directly interact with those trusted bank accounts which add to the security as the independent leading firms evaluate them.

The fact that TUSD is always collateralized by the US dollars and the legal protection which comes from the use of escrow accounts drive the value of the token upwards. The option to always be able to redeem this token for USD has made a lot of traders interested in it. Transparency is also something that is tied to this token as the escrow accounts holding the collateral are legally bound to disclose information monthly. Those escrow accounts are independent third-party and this only adds to the security of the token.

The way the protocol works and has incorporated the third-party accounts to provide another layer of security for their clients speaks volume. Also, the transparency which the network has is something that every holder and possible trader appreciates. With all that being said, remember that the crypto world can be extremely volatile so it is no large surprise that experts are divided on the future of the platform. If you want to invest in TrueUSD, make sure you only invest an amount you are willing to risk.

You can buy TUSD on any of the major exchanges of your preference that hold the token. Keep in mind that not all of them offer directly buying them for fiat currency so you might have to use another token with better liquidity to swap for one of these tokens. So doing this research beforehand can spare you any potential inconvenience. Taking advantage of the peer-to-peer exchange is also a possibility where you send fiat to a holder’s bank account and they send an equivalent amount of these tokens to your crypto wallet.

As of , the price of 1 TUSD is per token. Keep in mind that this is a USD backed stablecoin and it always aims to have a 1:1 ratio with it.

There are currently of TUSD both in circulation and total supply.

When redeeming or buying TUSD you can expect a 0.1% fee which is the exact amount charged when moving these tokens between Ethereum wallets. Trading fees which accompany TUSD on some of the major exchanges go from as low as 0.1% up to 0.75%. When withdrawing these tokens expect a withdrawal fee which normally goes from 1.0 TUSD on binance to 42 TUSD on BitTrex.

Cryptocurrency is getting approval all around the world lately and even offered as a payment option in some countries.  However, this doesn't change the way that their legal status varies from one country to another. Click here to check the legality status of cryptocurrencies by country.

You can store your TUSD on an appropriate hardware or software crypto wallet, with the hardware one being more expensive. Also there is always the possibility to keep them on the exchange platform you bought them from. Keep in mind that this is not the safest option since a third party is in control of your tokens. Most traders prefer to spread their tokens out and store them on a few different storage options to prevent risking all of them in case something happens to their preferred storage option.

You can take advantage of the peer to peer exchange by selling these tokens directly to another person. In this transaction you will not use a third party but exchange the assets among yourselves. You will receive an appropriate amount of  fiat currency for your tokens and send them directly to the other person’s crypto wallet. If you prefer selling them on any of the major exchanges you can do that as well but keep in mind that not all of them offer the option to directly exchange them for fiat currency. To go around that you can simply swap the for another token of your choice and then exchange those for fiat currency.

TUSD is continuously used for transactions within the crypto community. The network boasts about the transparency of their transactions as well as the fact that they do not have power over any of your digital assets so it is deemed as safe. However, do keep in mind no crypto platform or network is completely secure. You should do some research on your own on Ampleforth before making your final decision if this is something you want to get yourself into or not.