What Is TrueUSD?

About TrueUSD (TUSD)

TrueUSD is a blockchain-based stablecoin. That means that its value is pegged to fiat currency. TUSD is a part of TrustToken asset tokenization platform. In TrueUSD system the U.S. dollars are held in the bank accounts of multiple trust companies. TrueUSD tokens are based on Ethereum blockchain. If someone wants to obtain tokens using online application, they need to go through a KYC/AML check. Only after that they can send USD to one of the TrustUSD partners. Once the funds are verified, the API instructs a smart contract to issue tokens on a 1 to 1 ratio and to send them to Ethereum address associated with the account in hand. Only after that tokens can be transferred to someone or used as a payment.

Where did TrueUSD (TUSD) come from?

The TUSD company was founded 2017 by Rafael Cosman, Danny An and Stephen Kade. It is situated San Francisco Bay area. During summer and fall of 2017, the team completed SmartTrust and started the development of Trust protocol. In winter they established the partnership with exchanges and banks, had a pre-sale fundraising round, launched alpha version for organizations and traders, and appeared on various exchanges. In 2018 they launched the version 1.0 and beta of TUSD for general users. They are keep developing new products.

What are the advantages of TrueUSD (TUSD)?

1. Legal protection
   

   The token holders are protected with the help of escrow accounts.

2. Can be exchanged for USD
   

   After the verification TUSD can be redeemed for USD.

3. Low risk of a counterparty
   

   Leaves framework allows to exchange TUSD with escrow accounts directly.

4. TUSD is completely collateralized by USD

What are the disadvantages of TrueUSD (TUSD)?

1. It is centralized
   

   Three quarters of all tokens are held on five addresses.

2. Mining is not possible

How to buy TrueUSD (TUSD) on SimpleSwap?

Let’s say you want to buy TUSD. What should you do? We suggest you go to the SimpleSwap homepage and follow the instructions below:

1. For example, you want to swap BTC for TUSD. Select the currency you want to exchange (e.g. BTC) in the first drop-downlist. Then enter the amount you want to swap.
2. Select TUSD in the second drop-down list. You’ll see the estimated amount that you’ll get after the exchange.
3. Click the Exchange button.
4. Enter the Recipient’s Address. TUSD will be sent. Be careful and make sure you use the correct address.
5. Create the exchange.
6. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the BTC to TUSD exchange.
7. You will see the Bitcoin deposit address. You need to transfer the necessary amount of BTC to this address to start the exchange.

This is everything you need to know to buy TUSD.

SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.