TrueUSD (TUSD) - stablecoin not only by name

There are many stablecoins on the cryptocurrency market, i.e. tokens whose price is to reflect the value of a specific fiat currency. Few of them, however, have real coverage in the currency whose price they reflect. One of them it definitely is, however TrueUSD (TUSD) - real US crypto dollar not only in name.

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for TrueUSD - the cryptocurrency that connects the world blockchain with the traditional economy, minimizing the exchange rate risk.

What are stablecoins

Stablecoins are tokens whose rate is permanently linked to a given fiat currency. They significantly facilitate settlements (also between cryptocurrency exchanges), as well as the current valuation of cryptocurrencies. True USD is a coin that - as the name suggests - is supposed to reflect the price of the American dollar. Thanks to him, the exchange rate risk disappears in the blockchain world, because stablecoin ensures that its price will not change by e.g. 20% during the day, which is the case not only with small cryptocurrencies, but also with Bitcoin, Ethereum or other giants of the market. At the same time, however, it is a cryptocurrency with all its qualities in the form of no intermediaries, independence of transmission or access to it 24 hours a day from anywhere in the world. 

Stablecoins they also allow investors to protect capitalwho buy cryptocurrencies. At a time when their prices start to fall, you can quickly convert cheap assets into a fiat counterpart and wait out the bad times. We do not have to exchange them for our traditional currencies during this time, without losing on commissions.

Pros and Cons of True USD

TrueUSD (TUSD) is not the first, nor the only, stablecoin to reflect the price of the US dollar. Before him, he stood up Tether (USDT)which is undoubtedly the most widespread but also the most controversial. It is because legal controversies, unclear audits and suspicions that in reality not all units are actually covered in traditional dollars appear around it. Olive oil adds a link with the Bitfinex exchange, which also regularly provides investors with negative emotions.

Against this background, True USD looks like the Pope with the Alcatraz prisoners. Regularly is audited by independent institutionsthat have never disputed even the smallest details yet and have always indicated that it has 100% unit coverage in USD.

No wonder that the largest cryptocurrency exchanges in the world, with a hegemon, quickly became convinced of it Binance at the forefront. TUSD is also a secure entity, based on the Ethereum network (ERC20), still the most popular token platform. This allows for trouble-free storage of this cryptocurrency on secure mobile wallets, desktop or physical.

Most cryptocurrency exchanges are full of TUSD pairs. Daily turnover already exceeds USD 164 million and is slowly but steadily increasing.

TUSD cryptocurrency quotes

Currently, the True USD token can be traded at 161 Cryptocurrency exchanges from around the world. There are already 287 units in circulation, which of course translates into a capitalization of over USD 433 million. As of April 840, 287, each TUSD is valued at $ 23. However, it was not always possible to maintain the 2021: 1,001 ratio to the US dollar all the time. The peak of trading took place on May 1, 1, when the TUSD token was valued at $ 16 for a while.