If you're unfamiliar with the term FUD, it's an acronym for "Fear, Uncertainty, and Doubt". It is a strategy to influence the perc...
Let us introduce you to TrueUSD – stablecoin that is highly appreciated for its transparency and that has grown to become the most preferred choice of many traders.
TrueUSD, also dubbed TUSD, is a popular ERC20 stablecoin fully backed by the US dollar. In the tale of crypto, TUSD has marked the first regulated USD-backed stablecoin.
The idea of TrueUSD initially appeared in the early months of 2018. At that time, TrustToken Platform decided to remediate fraudulent and manipulative schemes in the space. It is no doubt that the accelerating rate of frauds and manipulations happening within the crypto community has geared major concerns. Prominent exchanges are seeking to secure the reputation of the industry. As such, TrueUSD has been initiated to curb risks associated with the use of cryptocurrencies.
With its value directly pegged to that of the US dollar, the asset primarily focuses on providing its holders with legal protections and real-time audits via its exclusive feature of transparency.
TrueUSD is highly appreciated for its transparency. It has grown to become the most preferred choice of many traders.
As said earlier, the asset was issued by TrustToken, a San Francisco-based exchange that focuses on creating asset-backed tokens that can easily be traded globally. TUSD is, however, the first stablecoin launched on the TrustToken platform.
With concerns to provide a more reliable market condition, the team behind the TrustToken platform has taken it a point of duty to tokenize assets like properties, movies, limited businesses, and the likes.
The co-founder and CEO of TrustToken Rafael Cosman has mandated a regular monthly audit for the TUSD stablecoin. Thus, it provides a hedge against the volatile market and promising investors a trustworthy and high-impact asset.
TrueUSD is traded at an equal rate with USD. It maintains an equal value with the asset it represents being the US dollar and can be exchanged between parties from any part of the world. The circulating supply of the token is fully collateralized by U.S. dollars.
TUSD uses multiple escrow accounts to keep funds of its holders with no direct access by TrustToken. It distributes its USD funds into various bank accounts of different trust companies. Thus, it ensures a secured and reliable platform for investors.
The asset is an ERC20 token. Built on the Ethereum (ETH) blockchain, it is secured and influenced by the standards provided on the network. Utilizing the advancing Ethereum blockchain ecosystem, TUSD can be traded on the blockchain in the same way as the second largest cryptocurrency, Ether.
TrueUSD in its feature of simplicity allows anyone access to use the token, which means it has no restrictions on who can hold the coin. However, this is only on the condition that TUSD is listed on the exchange company involved.
Therefore, anyone who picks the slightest interest in the use of cryptocurrencies can use TUSD and at any time, without the fear of a volatile market. In other words, the asset is much available for crypto-related companies, traders and firms who want to venture into the crypto space.
TUSD can also cater to mainstream commerce for the benefit of digital currencies as well as financial institutions to facilitate institutional crypto investments.
The exclusive benefits that come with the use of TrueUSD have made it top on the list of investors’ alternatives.
Since TrustToken generates its revenues from USD interests held in their accounts, it charges no fee for trading TUSD. Thus, one of these advantages is that the token ensures zero or less transaction fee for users.
Moreover, with the consistent attestation and the extreme transparency TUSD provides, investors are thereby relieved of the fear of manipulations. Its transparency is considered top-notch among others.
It also supports the redeeming of the token for the corresponding quantity of the US dollar with ease.
For everything that comes with benefiting features, there are always some limitations that come with it as well. TrueUSD in its nature and design, also comes with some disadvantages.
Firtsly, TrueUSD ensures a compulsory completion of KYC towards the purchase and redemption of TUSD. In other words, users who want to purchase or redeem the token have to complete their Know Your Customer (KYC) and Anti Money Laundering (AML) documents before proceeding with the process.
Secondly, TrueUSD is not fully decentralized. It is bound by the standards the TrustToken platform provides. As such, regulatory actions on the platform will affect users of TUSD.
TrueUSD (TUSD) with its relevance in the crypto sector is currently gaining ground in the industry. Besides, it is striving to become the top-listed stablecoin with its top-rated feature of transparency.
The coin has seen massive expansion since its launch a few years ago. Thus, it is correct to forecast success in the fate of the asset.
Interestingly, the asset’s availability on the Ethereum blockchain assures the token of the necessary mechanism it needs to explore the crypto space and grow massively among other stablecoins in the industry.
TrueUSD is a transparency-focused stablecoin fully backed by the US dollar. The asset is built on the Ethereum blockchain and derives its security and infrastructure from the network. It is the first stablecoin that offers real-time audits.
TrueUSD was innovated by the TrustToken platform in early 2018. It is the first fully regulated stablecoin launched by the platform.
It operates with an equal value to that of the US dollar. It uses multiple escrow accounts to keep funds of TUSD holders with no direct access by TrustToken and distributes USD funds into various bank accounts of different trust companies.
Individuals and firms with an interest to venture into the crypto space can use the TrueUSD. And of course, existing crypto enthusiasts can find use cases for the stablecoin.
Considering the transparency in the operations of the asset and the escrow account it uses, it is very correct to say that the token is safe to use. It has been considered the safest stablecoin available in the crypto market.
TrueUSD is fully regulated and legal. It represents the US dollars in the digital world. TrustToken, the platform that launched the asset, is also fully regulated and legal. Therefore, TUSD is legit.
The circulating supply of the TrueUSD token in the market is over 1.1 billion.
TrueUSD is available for purchase to anyone at any crypto exchange that has the token listed on its platform. It is certainly available on leading crypto exchanges like Binance, Coinbase, and the likes.