TrueUSD (CURRENCY:TUSD) traded 0% lower against the US dollar during the 24-hour period ending at 15:00 PM ET on September 15th. During the last week, TrueUSD has traded 0% lower against the US dollar. One TrueUSD coin can currently be purchased for approximately $1.00 or 0.00002083 BTC on major cryptocurrency exchanges. TrueUSD has a market capitalization of $1.41 billion and $97.59 million worth of TrueUSD was traded on exchanges in the last day.
Here’s how similar cryptocurrencies have performed during the last day:
- Chainlink (LINK) traded up 5.9% against the dollar and now trades at $30.57 or 0.00063676 BTC.
- Binance USD (BUSD) traded 0% lower against the dollar and now trades at $1.00 or 0.00002083 BTC.
- Polygon (MATIC) traded up 5.5% against the dollar and now trades at $1.37 or 0.00002853 BTC.
- FTX Token (FTT) traded up 6.3% against the dollar and now trades at $71.51 or 0.00148972 BTC.
- THETA (THETA) traded up 9.7% against the dollar and now trades at $6.85 or 0.00014269 BTC.
- DREP (DREP) traded 21% lower against the dollar and now trades at $1.96 or 0.00003398 BTC.
- DREP [old] (DREP) traded 19.5% lower against the dollar and now trades at $1.96 or 0.00003399 BTC.
- Dai (DAI) traded up 0.1% against the dollar and now trades at $1.00 or 0.00002085 BTC.
- Aave (AAVE) traded up 1.4% against the dollar and now trades at $385.41 or 0.00802893 BTC.
- PancakeSwap (CAKE) traded up 10.9% against the dollar and now trades at $22.34 or 0.00046539 BTC.
According to CryptoCompare, “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. “
Buying and Selling TrueUSD
It is usually not currently possible to purchase alternative cryptocurrencies such as TrueUSD directly using U.S. dollars. Investors seeking to trade TrueUSD should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase TrueUSD using one of the aforementioned exchanges.
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