TrueUSD (CURRENCY:TUSD) traded 0.1% higher against the U.S. dollar during the 1-day period ending at 23:00 PM Eastern on June 10th. TrueUSD has a total market capitalization of $1.44 billion and $108.12 million worth of TrueUSD was traded on exchanges in the last 24 hours. One TrueUSD coin can currently be bought for approximately $1.00 or 0.00002729 BTC on major cryptocurrency exchanges. During the last seven days, TrueUSD has traded 0% lower against the U.S. dollar.
Here is how other cryptocurrencies have performed during the last 24 hours:
- Chainlink (LINK) traded down 8% against the dollar and now trades at $22.95 or 0.00062601 BTC.
- Binance USD (BUSD) traded up 0% against the dollar and now trades at $1.00 or 0.00002728 BTC.
- Polygon (MATIC) traded down 8.2% against the dollar and now trades at $1.35 or 0.00003677 BTC.
- THETA (THETA) traded 7% lower against the dollar and now trades at $8.45 or 0.00023036 BTC.
- DREP (DREP) traded down 21% against the dollar and now trades at $1.96 or 0.00003398 BTC.
- DREP [old] (DREP) traded down 19.5% 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 0.00002733 BTC.
- Aave (AAVE) traded 6.7% lower against the dollar and now trades at $308.42 or 0.00841147 BTC.
- FTX Token (FTT) traded down 2.2% against the dollar and now trades at $32.71 or 0.00089217 BTC.
- Maker (MKR) traded 6.7% lower against the dollar and now trades at $3,068.50 or 0.08368702 BTC.
TrueUSD Coin Profile
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 possible to buy alternative cryptocurrencies such as TrueUSD directly using U.S. dollars. Investors seeking to trade TrueUSD should first buy Ethereum or Bitcoin using an exchange that deals in U.S. dollars such as GDAX, Changelly or Coinbase. Investors can then use their newly-acquired Ethereum or Bitcoin to buy TrueUSD using one of the aforementioned exchanges.
Receive News & Updates for TrueUSD Daily - Enter your email address below to receive a concise daily summary of the latest news and updates for TrueUSD and related cryptocurrencies with MarketBeat.com's FREE CryptoBeat newsletter.