TrueUSD (TUSD) traded 0% higher against the U.S. dollar during the twenty-four hour period ending at 10:00 AM ET on May 22nd. TrueUSD has a total market capitalization of $1.22 billion and $106.55 million worth of TrueUSD was traded on exchanges in the last day. During the last seven days, TrueUSD has traded 0% lower against the U.S. dollar. One TrueUSD coin can now be bought for approximately $1.00 or 0.00003335 BTC on exchanges.
Here’s how related cryptocurrencies have performed during the last day:
- BITCOIN ADDITIONAL (BTCA) traded 2.3% higher against the dollar and now trades at $30,022.61 or 1.00069567 BTC.
- Binance USD (BUSD) traded 0.2% lower against the dollar and now trades at $1.00 or 0.00003332 BTC.
- Crypto.com Coin (CRO) traded up 5% against the dollar and now trades at $0.41 or 0.00001075 BTC.
- Parkgene (GENE) traded flat against the dollar and now trades at $25.59 or 0.00045023 BTC.
- DREP (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003398 BTC.
- DREP [old] (DREP) traded flat against the dollar and now trades at $1.96 or 0.00003399 BTC.
- Dai (DAI) traded down 0% against the dollar and now trades at $1.00 or 0.00003335 BTC.
- Polygon (MATIC) traded 3.7% higher against the dollar and now trades at $0.67 or 0.00002225 BTC.
- THETA (THETA) traded flat against the dollar and now trades at $5.25 or 0.00010640 BTC.
- yOUcash (YOUC) traded up 0% against the dollar and now trades at $0.50 or 0.00001667 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. “
TrueUSD Coin Trading
It is usually not possible to purchase alternative cryptocurrencies such as TrueUSD directly using U.S. dollars. Investors seeking to trade TrueUSD should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Coinbase, Gemini or GDAX. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase TrueUSD using one of the aforementioned exchanges.
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