TrueUSD (TUSD) traded 0% higher against the U.S. dollar during the twenty-four hour period ending at 20:00 PM Eastern on May 14th. One TrueUSD coin can currently be purchased for approximately $1.00 or 0.00003325 BTC on major cryptocurrency exchanges. In the last seven days, TrueUSD has traded 0.1% higher against the U.S. dollar. TrueUSD has a market capitalization of $1.22 billion and approximately $118.56 million worth of TrueUSD was traded on exchanges in the last 24 hours.
Here is how similar cryptocurrencies have performed in the last 24 hours:
- BITCOIN ADDITIONAL (BTCA) traded up 2.9% against the dollar and now trades at $30,079.47 or 0.99912078 BTC.
- Binance USD (BUSD) traded 0.1% higher against the dollar and now trades at $1.00 or 0.00003331 BTC.
- Crypto.com Coin (CRO) traded 5% higher 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 up 0.3% against the dollar and now trades at $1.00 or 0.00003328 BTC.
- Polygon (MATIC) traded 2.8% higher against the dollar and now trades at $0.69 or 0.00002276 BTC.
- THETA (THETA) traded flat against the dollar and now trades at $5.25 or 0.00010640 BTC.
- FTX Token (FTT) traded up 2.5% against the dollar and now trades at $31.58 or 0.00104888 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 presently possible to buy alternative cryptocurrencies such as TrueUSD directly using US dollars. Investors seeking to acquire TrueUSD should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Coinbase, GDAX or Changelly. 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.