Learn everything you need to know about True USD or TUSD. Also learn how and where you can buy True USD in 2022.
Cryptocurrency is a digital money that has no physical backing. These coins are only available virtually. Online traders can exchange True USD to other virtual cryptocurrency coins. True USD is a digital currency. Unlike other types of money, your True USD is unique and cannot be stolen by a competitor. The value of True USD depends on the total supply and demand of the coin. People who solve complex algorithms (known as “proof of work”) earn new True USD. These people called miners.
The idea behind True USD is to create a peer-to-peer payment system without the involvement of banks or other intermediaries. True USD is a form of digital currency that allows individuals to transfer funds directly from one party to another without using a central bank.
Today, in this article, we are going to share how to buy and trade in True USD. You will also learn Where to buy True USD securely without any issue.
About True USD Coin: Price, Rank, and Market Cap
| Price to USD | $1.01 |
| Price to BTC | 0.00002455BTC |
| Rank | 81 |
| 24h Volume | $85.9 Million |
| Market Cap | $1.1 Billion |
| Fully Diluted Market Cap | $- |
| All-time high | $1.33 |
What is TUSD and How Does It Work?
TrueUSD (TUSD) is a fiat collateralized stablecoin tied directly to the value of the US dollar. TUSD is backed 1:1 with USD held in escrow accounts redeemable to the benefit of TUSD holders for the underlying value in USD. TrueCoin platform allows users to mint stablecoins for multiple currencies including TGBP, TAUD, and TCAD among others. TrueCoin works with 3rd party accounting firms including Cohen & Co. to provide monthly attestations confirming fiat reserves collateralization for each tokenized currency, and that TrueCoin has made no changes to the terms of
service agreement.
Technology behind True USD (What is TUSD )?
Blockchain is the technology behind the all cryptocurrency like True USD. True USD is the name of the best-known cryptocurrency, the one for which blockchain technology was invented. A cryptocurrency is a medium of exchange, such as the US dollar, but is digital and and decentralized. So no one can control or manage it.
What is blockchain technology?
A blockchain is a decentralized ledger of all transactions across a peer-to-peer network. Using blockchain, user can confirm transactions without a need for a central clearing authority like bank. All your records are saved on decentralized computers in realtime. So no one can manipulate with any information.
Overview on True USD: The latest Valuation!
The live True USD price on April 22, 2022 is $1.01 USD with a 24-hour trading volume of $85.9 Million USD. We update our True USD to USD price every 24 hours. The current market cap of True USD is $1.1 Billion.
The value of the coin is 1.01 in comparision with BTC. The Rank of this coin is 81. Till now, the coin has reached the value of 1.33.
The total supply of True USD is 1.119 B and the maximum supply is -. As of today, the volume of this True USD is $85.894 M. The total market cap of True USD is $1.125 B.
Step by Step Guide to buy True USD in 2022
If you are new to Crypto world and want to start trading in cryto coins like TUSD then here is a complete guide for you. There are somany platforms that allow buying True USD and sell True USD and all platforms and crypto exchanges are secure and safe. But some cryptocurrency exchanges are complex to use for a new users. Coinbase is the trusted place to buy, sell, and manage your digital currency like True USD, and ETH. If you want to trade True USD directly, you can do it easily on Coinbase. You will have to pay minor transaction fee.
We will share some best platforms where you can buy TUSD easily and also we will share how to buy TUSD using your computer or smartphone.
Some cryptocurrencies, like True USD, can only be purchased with another cryptocurrency on decentralized exchanges. Some coins can only be purchased with Ethereum (ETH) and then use ETH to buy Crypto coins. You have to choose the one that crypto exchange that suits your needs and criteria. Be aware of fee policies, before using it.
Today, Coinbase is one of the most popular and secure decentralized exchange to buy and trade in True USD on cryptocurrency markets.
Many experts recommanded decentralized exchanges instead of using centralized exchange.
Step 1: Download & Register on Crypto Exchange to buy
If you want to start investing in True USD or want to buy True USD then you have to first download Coinbase wallet. Coinbase Wallet is available as a mobile app and browser extension. Download Coinbase Wallet here.
Once you installed Coinbase Wallet on your mobile or browser, open the app and choose username. This username allow you to receive and send crypto.
Step 2: Securely store your recovery phrase
When you create a new wallet, you’ll be given a recovery phrase that includes 12 random words. Note that this key is access to your account. Anyone with this recovery phrase can access all your crypto coins. So keep this private and do not share it. You can also use Coinbase Wallet’s cloud backup feature to save the recovery phrase. If you lost it, Coinbase cannot help you with anything.
Step 3: Buy Coins to Coinbase Wallet
First create a new account on Coinbase. To create new account, just download the app on your mobile or open the official website of coinbase.
1. When app or website opens, click on get started.
2. Enter your basic personal information like email and password
3. Once done, you can access your Coinbase account.
4. Click on Assets and then again click on Explore Assets.
5. Now here search for True USD then click on Buy.
5. You will need to verify your identify using ID card. Once done, you can easily buy True USD.
If True USD is not available on Coinbase, you have to first buy ETH and then trade it with the True USD.
If you’re using the Coinbase Wallet, tap the Convert. Then Search for True USD and input the amount of ETH you’d like to exchange for True USD. Remember to leave enough for transaction fees. Transaction fee is different from one exchange to another.
If True USD is not available on Coinbase, you can use other Crypto exchanges like Binance, Bitmart, HitBTC, and Kucoin.
Transfer your True USD to an Altcoin Exchange!
True USD is a virtual crypto currency that can be traded like stocks or bonds. An crypto exchange is required to buy and sell cryptocurrencies, including True USD. You can exchange True USD for cash or other assets. If you want to keep your money safe then exchange your True USD to stable coins like altcoin or USD Coin.
According to Crypto experts, you should use a popular exchange where you can trade altcoins which has impressive liquidity.
Many crypto millionaires recommend BitMart because it supports many crypto coins and meme coins too.
Below is the list of some popular exchanges where you can buy popular crypto coins and exchange your True USD for stable coins.
| Exchange | Register |
|---|---|
| Coin Switch | Register |
| Bittrex | Register |
Just register using your mobile number or email address, verify your ID and then start trading in True USD.
What is Binance?
Binance is well-known for its wide range of trading pairs, which includes cryptocurrencies that most other exchanges consider far too risky for their customers. Binance has its own smart contract blockchain, the Binance Smart Chain, which sets it apart from competitors (BSC). When compared to the Ethereum network, which now has over 5,000 active nodes, the Binance Smart Chain only has 21 validators. Scalability trumps security in this case. You can easily buy True USD using Binance.
How to Sell True USD?
If you want to sell your True USD then here are the steps.
Step 1: First login into your decentralized exchange where your True USD coin is stored.
Step 2: Click on Buy/Sell in the menu bar.
Step 3: Click on the True USD coin and choose sell.
Step 4: Choose the amount of True USD coin you’d like to sell and then Complete your transaction.
Step 5: Confirm the sell price and fees and close your sale of True USD coin.
FAQs on How & where to buy Stable BTC
Q.1. Is there any option to buy True USD with cash?
Ans. Unfortunately, you cannot buy True USD with cash. You can use LocalBitcoins to explore more options if you want to buy True USD with UPI.
Q.2. Can True USD be used anonymously?
Ans. True USD is not anonymous till now. It is because transactions and balance appear publicly on the network.
Q.3. What is the Current Market Price of True USD?
Ans. Current market price of True USD as of today is 1.1 Billion.
Q.4. True USD to USD Price?
Ans. $1.01
Q.5. What is the Max Supply of True USD today?
Ans. -
Q.6 Can we buy True USD coin in Europe?
Ans. Yes, you can use popular decentralized exchanges like Binance or Bittrex to buy TUSD.
Q.7 How to Buy True USD coin in India?
Ans. You can use Coinbase or CoinDCX to buy TUSD in India in 2022.
