Review on TrueUSD by David Olayide
TrueUSD Has Truly Innovative Ideas For The Crypto Space
TrueUSD is an ERC20 based stablecoin built on the Ethereum network and was released by the company known as TrustToken in 2018. TrueUSD is just one of the many currencies implemented by TrustToken. TrueUSD is backed by the US dollar. This stable coin has seen rapid growth ever since it was first introduced and implemented. The coin is only beaten in terms of market cap by, Tether, and I find this fact to be impressive.
To put the minds of investors at rest, the management of TrueUSD stated that there will be a regular auditing of the stablecoin and this goes a long way in assuring the investors of safety even in periods of high volatility. Like I said earlier on the project is affiliated with the US dollar and that means that there will be fewer issues to encounter because of the nature of the dollar. The project aims to maintain a constant value of just $1.
You can purchase the token and then redeem them for USD on the TrustToken official website. There are over 300 million of the tokens in circulation currently. So far there is no limit and more coins will continue to pop up according to demand. I would have really liked it if we can have more information as to how the project was developed, its structure, and how it will benefit the crypto community in general. I intend to invest in TUSD as soon as possible, because from my point of view, investing in it will be profitable to some extent. In case you need to buy some of the TUSD tokens, just head over to Binance or any other major exchange platforms.
There you will find trading pairs of both TUSD and other stablecoins or cryptocurrencies. The stablecoin is a good one that is sufficiently backed by the dollar so I feel comfortable investing with it.
Pros
- The project is secure through the regular auditing TUSD is affiliated to the dollar so it is a little bit immune to price fluctuations
- The stablecoin runs on the Ethereum network
- It has over 300 million coins in circulation and this makes TrueUSD popular and trusted
Cons
- As good as it is, it still can't compete with Tether.
