What is TrueUSD (TUSD)?

TrueUSD is a cryptocurrency pegged to the United States dollar at a 1:1 ratio which promotes the increased liquidity volume to its participants via its nature of being a stablecoin.

The platform was first launched to a small number of investors in January 2018, but shortly after, the platform grew to amass $400 million in backing through tokens as of October 2020.

The TrueUSD platform is one of many cryptocurrency stablecoins which are issued by a platform used for tokenizing assets in the real world known as TrustToken. In a similar nature to the other stable coins, the main goal of the platform is the facilitation of increased liquidity to provide the traders and participants on the network with an asset that has low volatility and is also tied to free-floating tokens, such as Bitcoin.

Who are the Founders of TrueUSD (TUSD)?

The TrueUSD platform was created by TrustToken, a company whose co-founder and CEO named Rafael Cosman.

Cosman has been attached to the cryptocurrency space for most of his life which much of his studies going in the line of artificial intelligence. He has gained major experience over the years from his work with several platforms including the software company Palantir and Google. Shortly after he decided to start his system after founding the Trusttoken in 2017.

According to Cosman, the TrueUSD platform is a small subset of the TrustToken products which involves the creation of high-impact assets with the requirement of only a little work.

Right before the platform was launched, Cosman noticed that the consistent auditing of the stablecoins created a new direction for the company, in turn putting the minds of its investors at ease while other coins were experiencing heavy volatility due to the addition of an initial coin offering

What is TrueUSD (TUSD) used for?

In general, there are two major reasons for the stability in the prices of fiat currency. The first reason is due to their reserve backing and the perfectly timed market actions of the controlling authorities such as the central bank. Since the fiat currencies are tagged to underlying assets such as forex or gold, which act as collateral, this protects the value from being subject to constant swings. Stablecoins, such as the TrueUSD platform attempts to bridge the gap by including a collateralized backing system to provide w level of stability for the network.

The TrueUSD platform offers its participants the convenience of being a stable coin with the ranks of Bitcoin and Ethereum. This means that the users of the TrueUSD network who have holdings of its native crypto token, TUSD, are allowed to enjoy the low level of volatility that comes with being on the platforms.

This platform was majorly designed to give individuals who are new to the cryptocurrency and coin trading scheme that their TUSD coin can not only give them a hedge in the market but also opens them to several pools of cryptocurrency loaning opportunities.

What Is the Unique Point of TrueUSD (TUSD)?

The TrueUSD platform was created with the aim of balancing the two major use cases of a stablecoin which are stability and unity. The platform also has a regular attestation security process.

Right from the time the TrueUSD platform was launched, the main focus of its parent company, TrustToken has been to undercover the level of importance of independent verification to the provenance of the stablecoin. As such, the appeal of the stablecoin is directed towards large-scale investors looking to minimize the risks, as well as smaller private traders.

According to a description made by the parent company, TrustToken, the TUSD network is the first of its kind, being that it is the first regulated token with complete backing by the US dollars.

The TrueUSD platform is a part of a consistently expanding stablecoin market which now includes a lot of assets that are backed by US dollars. However, the Tether platform by far remains the largest network with a market capitalization rate of $15 billion as of October 2020, this is in compression to TrueUSD’s $382 million market cap.

As a corporation, TrustToken has entered into several strategic partnerships as a part of its business activities. One of these partnerships opens the participants of the TUSD platform to the chance of increasing annualized passive income.

How many TrueUSD (TUSD) coins are in circulation?

As of October 2020, there were a total of 381.9 million USD tokens in circulation. Due to the platform’s nature of being a stable coin, its supply is not capped and will continue to grow over time according to the forces of demand and supply.

There are two embodiments of the TUSD platform, one of which is an ERC-20 token on the Ethereum network. The other is called the TUSBD platform which is a BEP-2 token powered by the Binance network.

The redeemability of the TrueUSD system is maintained by the platform’s partnerships with several banks and fiduciary institutions.

Is the TrueUSD (TUSD) Network secured?

In order to deliver maximum transparency to the system, the TrustToken system uses several tools, among which is the real-time auditing of the backing and reliability provided by the TrueUSD system.

Beyond trusting the validity of the platform via its USD peg, any security issue on the network can be related to the user base of ERC-20 apps. For instance, transacting in the network may become more expensive at some point in time due to a spike in gas fees on the Ethereum blockchain.

How do I buy TrueUSD (TUSD)?

One of the most notable qualities of the TrueUSD platform is its existence as a stablecoin. This implies that the general risks that come with dealing with cryptocurrencies are excessively minimized here making it a suitable investment engine for several cryptocurrency traders and larger scale investors. Due to this, there has been an increase in its overall level of adoption and has led to it being readily available on several exchange platforms globally. To buy TUSD tokens, the steps below provide the right direction to purchasing its tokens.

* Open an account with crypto trading platform.

* Transfer the specific amount of your fiat currency to your account.

* Wait for your deposit to be confirmed and Buy TUSD through your trading account.

Which Cryptocurrency Wallet Supports TrueUSD (TUSD)?

The PTPWallet platform supports many cryptocurrencies simultaneously, such as TrueUSD tokens. Because of its speed, flexibility, and unique features, it has grown to become one of the most used new platforms. In addition, users can easily use PTPWallet as their main TrueUSD wallet as it offers a simple and interactive interface, making it easy to navigate its system.

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