TrueUSD is a regulated stablecoin fully backed by the US dollar and claims to be the first of its kind that is regulated. It is an independently-verified digital asset pegged to the USD, making it fully redeemable against the US dollar.

Calling itself the new face of money, the TUSD stablecoin operates across multiple blockchain ecosystems, including Ethereum, TRON, Binance Smart Chain (BSC), Binance Chain (BC), Polygon, Avalanche, Fantom, HECO, Arbitrum, and Cronos.

It empowers users with all the strengths that blockchain-based digital assets offer - transparency, decentralization, encryption, and security, without the extreme volatility of leading crypto assets in the market. Pegged to the USD, users can mint TUSD for USD on a 1:1 basis.

They can then use their TrueUSD coins to trade other cryptocurrencies on exchanges as a base asset immune to market volatility. As of July 2022, the TrueUSD stablecoin is supported on over 70 exchanges, services over 160 markets, and over 20 OTC desks across five continents.

In 2021, TrueUSD announced the integration of TUSD stablecoin with Signet, the blockchain-based payments platform of Signature Bank. TrueUSD also has a connection to Blocktower Capital, one of the investors backing TrustToken - the company behind the development of the stablecoin. In August 2021, the company, along with A16z and Alameda Research, participated in raising $12.5 million in funding.

TrueUSD is one of five stablecoins issued and managed by TrustToken, a company that is powering the DeFi movement with its innovative products and offerings. TrustToken aims to revolutionize the future of finance by making financial services accessible to all through its TrustToken app and TrueFi DeFi protocol.

The TrustToken platform leverages independent third-party attestations and monthly audits and provides live updates on proof of reserves for TUSD and its other assets on-chain. The TrueUSD is the first regulated stablecoin that is completely collateralized, meaning that every TUSD coin is backed by an equal amount of USD held in escrow accounts by custody partners of TrustToken.

The company uses the services of PrimeX and Silvergate Exchange Network to enable almost instantaneous exchange between TUSD tokens and USD. The borderless crypto asset enjoys the regulatory trust and backing in over 100 countries where it complies with local laws and aims to prevent fraud.

Rafael Cosman spearheads TrustToken, the company responsible for the TrueUSD coin, functioning as its Co-founder and CEO. The company's team is spread across numerous locations around North America, Europe, and Asia, making it a truly global initiative.

The TUSD coin has several uses, including:

Hedge Against Crypto Market Volatility

Invest in TrueUSD as a hedge against the severe volatility and uncertainty the crypto market is notorious for. The TUSD crypto makes for a safe investment option when you wish to dabble in digital assets but don't wish to experience sharp price fluctuations in your portfolio.

Buy Goods and Services Online

TrueUSD can be used to make payments to businesses partnered with TrustToken to accept the stablecoin as a payment option. One example is Vodi, where you can buy mobile calling plans and more using your TUSD crypto.

Base Asset to Trade Other Cryptocurrencies

You can set TUSD as the base asset when trading cryptocurrencies on exchanges. The TrueUSD offers a stable and reliable base asset when buying or selling digital assets as a price-stable digital asset. With the TrueUSD price maintaining its peg to the US dollar irrespective of market conditions, it offers a safe base asset for crypto traders conducting transactions on exchanges. Review the current price of TrueUSD, TUSD market cap, current circulating supply, 24-hour trading volume, and latest crypto news before entering a new trade in the market.

Earn Passive Income

You can use DeFi platforms to grow your TrueUSD holdings by performing staking, yield farming, and liquidity mining. Since the TUSD is supported on multiple blockchain networks, you can select a wide range of DeFi protocols based on the best returns and reputation.

TrueUSD (TUSD) is available on various leading crypto exchanges and DeFi platforms. One of the easiest ways to purchase TUSD is through BYDFi. Here's a step-by-step guide:

1. Set Up Your BYDFi Account

If you're not already a user, register for an account on BYDFi using your email address. After logging in for the first time, complete the KYC verification process to gain access to all services and offerings.

2. Add Crypto Funds to Your Trading Account

Convert your fiat currency into crypto by using the BYDFi Fast Trade section. Choose from over 70 supported payment methods, including Visa, Mastercard, PayPal, and SEPA.

You can also utilize the BYDFi P2P service or engage with third-party sellers on the platform to add crypto funds to your trading account.

3. Buy TUSD on BYDFi with Existing Crypto Holdings

Use your existing cryptocurrencies to purchase TrueUSD and other digital assets on BYDFi. Transfer your crypto from an external wallet to your BYDFi trading account to get started.

4. Trade USDT/TUSD on BYDFi Spot Trading

Go to the BYDFi Spot Trading section and search for the USDT/TUSD crypto pair. Review the latest TrueUSD to USD price, TUSD market cap, circulating supply, and 24-hour trading volume. Perform technical, sentiment, and fundamental analysis on the TUSD price chart before initiating the trade.

Enter the desired amount of USDT you want to exchange for TUSD. Check the number of TUSD coins you will receive and the trading fees associated with the transaction. Once you've verified all the details, click on Sell to execute the trade order.

5. Receive and Securely Store TUSD

A few minutes after executing your sell order, you will receive the purchased TUSD cryptocurrency. You can choose to hold them in your BYDFi trading account or withdraw them to an external wallet for long-term secure storage.

TrueUSD is a good investment, especially if you are new to the crypto market and want to understand how digital assets function without worrying about losing your capital. You can buy TUSD, hold it or trade it against other crypto assets when you feel more confident.

As discussed above, the TrueUSD price is pegged to the US dollar and maintains this peg even in times of highly uncertain and volatile market conditions. The stability of TUSD price statistics makes it a reliable crypto asset to include in your portfolio when you wish to hold crypto funds but protect yourself from price fluctuations.

TrueUSD could be a beneficial asset to invest in when the crypto market experiences sharp sell-offs or bearish price action. At such times, TUSD offers a way for you to park your funds in your wallet or exchange without exiting the crypto market entirely.

The TrueUSD crypto also makes for an excellent safe-haven instrument to hold when global markets face considerable uncertainty. As the TrueUSD value remains the same as that of the US dollar, it can be an especially attractive investment for overseas investors who wish to hold USD when their respective currencies weaken against the greenback.

Investing in TrueUSD can offer a far more risk-free and safer way to grow your crypto portfolio, protected from the markets notorious volatility. Here are some ways to make money by investing in TrueUSD stablecoin:

Protect Against Sudden Market Volatility

TrueUSD can be a precious asset in your portfolio during bearish price action in the overall crypto market. Unlike other cryptocurrencies, the TUSD price will continue to maintain its peg to the USD, preventing you from suffering losses while other digital assets prices head lower.

DeFi With TrueUSD

Several exchanges and DeFi platforms offer attractive returns on holding and staking TUSD. Perform careful online research on options that let you hold TUSD savings and offer APYs in exchange for growing your holdings in a risk-free manner.

Lend Liquidity

Leading DEXs and cryptocurrency exchanges offer attractive incentives if you lend your TUSD holdings to liquidity pools that can support the trading operations of the platforms. It is a safe and risk-free way to earn passive income by investing in TUSD.

Are you wondering what the differences between TUSD and other stablecoins in the crypto market are? Here's a comparison of TUSD vs. USDT vs. USDC:

Market Cap

Tether (USDT) is the world's most popularly used stablecoin and leads the list regarding market cap and 24-hour trading volume. USD Coin (USDC) ranks second in the list as of July 2022. TrueUSD (TUSD) comes in fifth regarding market capitalization and trading volume among stablecoins. TUSD is the 39th largest crypto asset by market cap, while USDT and USDC feature among the top 10 cryptos.

Effectiveness in Maintaining the USD Peg

TrueUSD is one of the most price-stable digital assets that continues to maintain its peg to the US dollar even during extreme market volatility. This is because it is one of the few stablecoins in the market completely backed by US dollar reserves.

On the other hand, the other stablecoins, USDT and USDC, have experienced some challenges in maintaining the peg to the USD. Tether has come under fire as its reserves are not completely backed by the US dollar in cash reserves but also consist of more illiquid commercial paper reserves backing the peg.

Supported Platforms

Due to their high liquidity and trading volumes, USDT and USDC are listed on a larger number of DEXs, CEXs, and digital wallets. On the other hand, the lower trading volume of TUSD shares a close correlation with the small number of exchanges and platforms that support the crypto coin.

TrueUSD is fully collateralized, meaning that it is fully backed to support its peg to the US dollar. In addition, it is also one of the few stablecoins in the crypto market that enjoy complete legal protection.

TrueUSDs backing is also transparently verified by third-party attestations to ensure high investor confidence in this digital asset. The TrustToken-based stablecoin leverages multiple escrow accounts to mitigate counterparty risk and offer legal protection to TUSD holders against misappropriation of their assets.

You must complete KYC/AML documentation to invest in the TrueUSD stablecoin and wire funds to third-party escrow accounts. Each TUSD token represents a redeemable certificate for 1 USD held in escrow on behalf of its holder.

You can convert TrueUSD (TUSD) to Tether (USDT) using the BYDFi platform. Here are the steps to follow:

1. Visit the BYDFi Spot Trading section to find the USDT/TUSD crypto trading pair.

2. Review the latest USDT to the TUSD exchange rate. While it is typically 1, market volatility could vary the peg and cause minor fluctuations in the exchange rate between these two stablecoins.

3. Place a sell order to exchange TUSD for USDT on this page.

4. Enter the number of TUSD you wish to exchange for USDT, review the number of USDT you can receive, and the trading fees you must pay.

5. Click on Sell to proceed with the trade order after reviewing all details.