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TUSD

TrueUSD Price Index

$ 0.972749 Ƀ 0.00001891
  • MarketCap
    $ 1,254,216,125
  • Volume
    $ 49,425,846
  • Change
    -0.17%
true-usdTrueUSD
$ 0.972749
$ 0.972749
0.17%
0,897655
TUSD
TrueUSD (TUSD)
$ 0.972749
TUSD
TrueUSD (TUSD)
author
author
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
By Marcel Deer
author
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
on May 01, 2023 | 4 min
Updated on Nov 30, 2023

Overview: What Is TrueUSD (TUSD)? 

TrueUSD (TUSD) is an Ethereum ERC-20 token stablecoin backed by US dollar (USD) assets or holdings. TUSD is pegged to the US dollar on a 1:1 ratio, making the value the same and stable.

This price stability contrasts other cryptocurrencies, which can be very volatile. Stablecoins are purposely created not to be volatile, which makes them more suitable as a digital means of payment or exchange.

TrueUSD was launched in 2018 as the first coin of the TrustToken platform, which allows users to tokenize fiat currencies and real-world assets.

What Makes TrueUSD Unique? 

TrueUSD is one of several stablecoins that emerged on the cryptocurrency market in response to demand and controversy surrounding the first stablecoin, Tether (USDT).

Its creator, TrustToken, has four co-founders, Danny An, Rafael Cosman, Stephen Kade, and Tory Reiss. They created TrueUSD as a stablecoin with more transparent USD backing than USDT.

TrueUSD’s US dollar holdings are in numerous bank accounts held by trust companies. Information about these collateralized holdings is published daily, with the accounts audited monthly to prove sufficient USD backing for the coin exists.

For these reasons, TUSD can be viewed as more reliable than USDT. Still, it needs to be more decentralized and requires anti-money laundering (AML) and know-your-customer (KYC) user compliance.

TrueUSD History 

Since its launch in 2018, TrueUSD has gained a good reputation without controversy and is now listed on most major exchanges.

At the time of writing, TUSD remains in the top 25 cryptocurrencies by market capitalization. Though TUSD was the second most popular stablecoin after USDT, USD Coin (USDC) now has a greater market capitalization.

How Does TrueUSD Work? 

TUSD, as an Ethereum ERC-20 token, operates on the Ethereum blockchain and uses the security and reliability of the Ethereum network. Ethereum’s smart contracts record TUSD transactions to the network, making them permanent and trackable.

TUSD has a two-way pegging mechanism where USD traded for TUSD is held in TrustToken’s audited accounts. When TUSD is changed back for USD, the TUSD tokens are burned or destroyed, and the USD is released. This process keeps the TUSD value close to that of the US dollar.

What is TrueUSD Used For? 

TUSD can be viewed as a digital version of the US dollar, like other stablecoins, including USDT and USDC. As well as a means of payment or transfer, stablecoins can be used by investors and traders to retain digital asset value on an exchange or in a wallet with a known value that they can then exchange into a more volatile cryptocurrency as required.

How Is the TrueUSD Network Secured? 

Ethereum’s smart contract technology secures the TrueUSD coin and the TrustToken platform. TUSD also uses Chainlink’s Proof of Reserves technology to add security to its coin minting process and for transparency and reliability. This innovation makes it the first stablecoin to control minting programmatically. The technology enables off-chain reserves, the USD in TrustToken’s accounts, to be verified on the network.

How to Buy TrueUSD?

TrueUSD is listed on over 100 major cryptocurrency exchanges and can be bought with fiat funds or other cryptocurrencies. It’s also available at decentralized exchanges where it can be traded for Ethereum or other ERC-20 tokens. As it is a stablecoin, you probably will not be able to find it at any CFD brokers.

What is the TrueUSD Price Prediction for 2025?

As TUSD is a stablecoin pegged on a 1:1 ratio with the US dollar, its price should always be $1. Stablecoins have minor variations from their fiat backing, which can be seen in any TrueUSD price chart. A TrueUSD coin price prediction should always expect one TUSD to equal $1.

Most frequently asked questions about TrueUSD

Is TrueUSD a good stablecoin?

After its launch in 2018, TrueUSD (TUSD) gained in reputation and popularity and was second only to Tether (USDT) regarding stablecoin market capitalization. It has remained reputable, but USD Coin (USDC) is now more widely used.

Is it safe to use TUSD?

The TrueUSD (TUSD) stablecoin is generally considered a secure and reliable cryptocurrency. TrustToken provides daily clarity and monthly auditing of its US dollar reserves.

What are the disadvantages of TrueUSD?

TrueUSD (TUSD) does require Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance from its users. The platform will also freeze the accounts or funds of users if it believes there is unusual activity. TUSD is also viewed as being more centralized than Tether (USDT).

Is TUSD better than USDT?

Both TUSD and USDT are popular stablecoins. USDT is seen as more decentralized, but there have been past concerns about the transparency and consistency of its US dollar reserves. TUSD is more transparent about its fiat backing and has stringent user compliance processes.

Is TUSD the same as USD?

No, TUSD is not the same as USD. TrueUSD is a cryptocurrency stablecoin pegged to the US dollar (USD) on a 1:1 ratio to retain the same value as USD.

How to convert TUSD to USD?

TrueUSD (TUSD) can be traded for the US dollar (USD) on many leading cryptocurrency exchanges.

What is the best way to convert USDT to cash?

The easiest way to convert USDT to cash is to trade TrueUSD  for the US dollar or an available fiat currency on one of the major cryptocurrency exchanges.

author
About Marcel Deer
With a background in journalism and digital marketing, Marcel is a keen crypto enthusiast and investor. A regular contributor to several crypto publications, he believes that META-based projects will soar in the coming years and is super-bullish on MeritCircle and the increase in P2E gaming platforms. Marcel is also excited about AVAX and FTM as ETH-chain alternatives, and any projects with strong utility, transparency, experience, and community marketing.
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