TrueUSD (CURRENCY:TUSD) traded 0.1% lower against the U.S. dollar during the 1 day period ending at 7:00 AM E.T. on October 14th. One TrueUSD coin can now be purchased for approximately $1.00 or 0.00001734 BTC on major exchanges. During the last week, TrueUSD has traded 0% higher against the U.S. dollar. TrueUSD has a market capitalization of $1.28 billion and approximately $84.39 million worth of TrueUSD was traded on exchanges in the last day.
Here’s how other cryptocurrencies have performed during the last day:
- Starname (IOV) traded down 3.9% against the dollar and now trades at $4,099.30 or 0.08159023 BTC.
- Binance USD (BUSD) traded down 0% against the dollar and now trades at $1.00 or 0.00001735 BTC.
- Chainlink (LINK) traded 11.3% higher against the dollar and now trades at $27.31 or 0.00047362 BTC.
- Polygon (MATIC) traded 2.4% higher against the dollar and now trades at $1.32 or 0.00002639 BTC.
- Polygon (MATIC) traded 4.7% higher against the dollar and now trades at $1.27 or 0.00002196 BTC.
- Axie Infinity (AXS) traded up 3% against the dollar and now trades at $124.07 or 0.00215162 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.
- FTX Token (FTT) traded 5.6% higher against the dollar and now trades at $55.33 or 0.00095953 BTC.
- Dai (DAI) traded up 0.1% against the dollar and now trades at $1.00 or 0.00001736 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. “
TrueUSD Coin Trading
It is usually not presently possible to buy alternative cryptocurrencies such as TrueUSD directly using U.S. dollars. Investors seeking to acquire TrueUSD should first buy Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to buy TrueUSD using one of the exchanges listed above.
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