Prix Bridged TrueUSD TUSD

TrueUSD was released in early 2018. It is a stablecoin backed by US dollars. It can exchange with and trust multiple bank partners in a legally protected escrow account. It is the first regulated stablecoin fully backed by the US dollar, obtaining the highest trading volume and liquidity in any trusted stablecoin exchange.

It aims to become a simple, transparent and reliable stablecoin. Therefore, it does not use hidden bank accounts or any special algorithms.

The US dollar assets held by TrueUSD are distributed in multiple bank accounts belonging to different trust companies. The parties have signed the daily disclosure and monthly audit agreement of the guaranteed shares. Tokens use multiple escrow accounts to reduce counterparty risk and provide legal protection for holders against theft.

TrueUSD applies to:

Business flow: TrueUSD is a very good tool to prevent market fluctuations. You can enter the market without buying BTC / ETH first.
Conventional trade: ordinary individuals and enterprises can enjoy the benefits brought by blockchain technology without being affected by large price fluctuations.

Developing economies: developing markets can trade in stablecoins.

Long term financial contracts: such as loans, wages or forecast markets.

Financial institutions: they can use trusted assets to conduct transactions in the crypto market.

How does TrueUSD (TUSD) Work?

The key to the normal operation of each TrustToken token asset is the third-party custodial account. Anyone who requests through KYC and AML can use their app to buy / redeem TrueUSD.

TrustToken uses publicly audited smart contracts to prevent the issuance of tokens. The money did not even reach the TrustToken team. When the escrow account receives US dollars, the new TUSD will be automatically minted. The same amount of TUSD will be burnt immediately when the user swaps US dollars.

In this way, TrustToken guarantees that the ratio between the funds in the custodial account and the outstanding TUSD is 1:1 USD and TUSD. Whenever a user passes through KYC / AML, he or she can send us dollars directly to one of TrueUSD's trusted partners (along with the wallet address). After the funds are verified by the custodial company, the API interacts with the TrueUSD smart contract, which issues tokens in a ratio of 1:1 and sends them to the provided wallet.

Once tokens arrive in your wallet, they can be used for anything you need. TrueUSD token combines the best of both worlds - stability and reliability of low trust fees, fast transmission time and global influence of cryptocurrency.

If you want to convert TUSD back to US dollars, the reverse process will occur. The user sends the TUSD token back to the smart contract address, which notifies the trust company and triggers the trust transfer back to the user account.

Such a system uses multiple APIs and makes controlling token provisioning easier and better than previous alternatives.

Presently, the cost of buying and redeeming TrueUSD in US dollars is $75 or 0,1%. The fee for sending TrueUSD between Ethereum wallets is 0.1%.

The following is a summary of the advantages of TUSD Tokens:

Legal protection: the company regularly publishes letters of recommendation, which are subject to strong legal protection provided by the custodial account.

Convertible into US dollars: any individual or organization that passes AML / KYC authentication on the TrustToken platform can convert TUSD into US dollars. However, the minimum withdrawal amount is $10.000.

Trust fund management: due to the configuration of the TrueUSD system, it allows you to exchange US dollars directly with the custodial account instead of sending money through theTUSD network.

Comprehensive warranty: for the USD held in the custodial account company, a single TUSD token is always guaranteed. New tokens are created and burnt by publicly audited smart contracts.

Regular certificate: all custodial account holdings must be subject to publicly issued periodic certificates.

What is TrueUSD (TUSD)?

TrueUSD, also known as TUSD, is a popular ERC20 stablecoin, fully backed by US dollars. In the crypto history, TUSD marks the first regulated stablecoin backed by US dollars.

TrueUSD (TUSD) cryptocurrency is a fully guaranteed ERC-20 token, protected by law and transparently verified. It is linked to the US dollar and maintains a 1:1 ratio. It is also the first crypto asset built on the TrustToken platform. Price instability is one of the biggest obstacles to the widespread adoption of cryptocurrencies. The high volatility of the market makes it difficult to use encryption in daily transactions, international transfers and as a generally accepted payment gateway.

However, some crypto startups take this seriously and are committed to achieving smoother integration between the current financial paradigm and blockchain technology. They developed the so-called stablecoin, one of which is TrueUSD.

TrueUSD (TUSD) Crypto Wallet

In addition to placing TUSD in the Gate.io exchange to facilitate trading, TUSD can also be placed in a crypto wallet.

TrueUSD wallet is an Ethereum wallet that stores TrueUSD tokens. It is a wallet that enables users to interact with the Ethereum blockchain so that they can send and receive TrueUSD. Some TrueUSDwallets have recently been extended to include lending, loans, cryptocurrency transactions or exchange functions. There are several different types of TrueUSD wallets. Some are for private use, while others are open to the public.

TrueUSD wallet is an Ethereum wallet that stores TrueUSD tokens. It is a wallet that allows users to interact with the Ethereum blockchain, so they can send and receive TrueUSD. Users need keys to operate TrueUSD wallets, and they need to pass KYC and AML authentication requirements for applications. After users pass, they can purchase tokens and send them to TrueUSD wallet.

It is a wise idea to buy a TrueUSD hardware wallet and use it with your mobile phone or network wallet. TrueUSD hardware wallet is the ideal choice for long-term storage of cryptocurrency assets. Ideally, you want to keep some in your mobile phone or online wallet for payment, transaction and collateralization, while securely storing the rest in a secure hardware wallet. Ledger series hardware wallets are very popular and recommended by most advanced cryptocurrency users. Trezor is another brand worth mentioning.