Review on TrueUSD by Aman Arora
TUSD Potential to become best Stablecoin due regultion nd Transparency
Cryptocurrency Market volitality is so difficult to handle and with so many opportunities and tracking could sometime let you take unnecessary risk. In order to tackle that volitality TrueUsd lauched a Coin who take care of your funds by offering easy conversions of crypto currency to True Usd.
Popularity and Growth of TUSD has been immense and with people contantly look for safety of funds and good returns stablecoins use to be the best solution and with TUSD is the transparent and regulated it has been the preferred choice of users.
True usd is a token issued by Trust token which is a stable coin and pegged into U.S dollar in 1:1 Ratio. With there are so many stablecoins around like Tether DAI USDC etc. TrueUsd is a preferred choice as Token is backed by banks and funds are kept in US banks where regular audits are done to ensure safety and security of user's funds.
Other versions of TUSD are issued in Australian (TAUS) Great Britain Pound (TGBP) and Hongkong dollar (THKD) Singapore Dollar(TSGD) and Canadian Dollar (TCAD)
Best thing is whenever a user buy TUSD on Trust token platform automatically correspondently create and issue TUSD which becomes the part of Circulating supply and when user redeemed Tusd platform burns the equivalent amount maintaining the same supply.
TrueUSD is gaining lot of interest in people due to regulated and pegged in U.S dollar and because of ERC20 compatibility it is easy to store TUSD and lot of exchanges offer TUSD pair with USDT cross with good liquidation and easy swap facility in compatible wallets for safe token conversions. TUSD is all set to give tough competion to other stablecoins specially USDT which is widely used Stablecoin.
Pros
- TUSD is most secured stablecoin pegged into US dollar and regulated digital asset
- Erc20 compatibility makes it easy to use by storing lending and borrowing on various platforms
- TUSD is easily available on exchanges with USDT and other variables
Cons
- Possibly no drawback but still has tough competitors and work need to be done for mass adoption
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Comments (1)
January 17, 2021
I can say that reading this article, after what happened to Tether recently, has given me new perspectives. Because I am looking for a stable coin for myself, reading this article was very good for me, thank you.
