What is TrueUSD? Overview of TrueUSD Coin (TUSD)

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What is TrueUSD (TUSD)?

TrueUSD (TUSD) is a new stablecoin (a cryptocurrency with little price volatility) similar to the coin Tether (USDT) was created on the Trust Token platform (a platform that connects blockchain with real assets) so you can convert 1 TUSD into 1 USD. TrueUSD is the only redeemable digital currency that provides credit card holders with complete information about USD mortgages, certificates and legal safeguards to exchange TUSD for USD. .

Its purpose is to create a simple stablecoin, without having to trust some companies with hidden bank accounts (referring to Tether USDT) or certain special algorithms. Legal framework of TrueUSD allows you to exchange USD directly with escrow accounts for which they are not authorized to interfere with your money due to the role of a third person (Escrow Account - temporarily translated as escrow account, is a confirmed account. has credibility in the platform without involving a trader and TrueUSD) as an intermediary to create the best transparency and use smart contracts to secure 3: 1 ratios for TUSD / USD pairs

Features and characteristics of TrueUSD

TrueCoin emphasizes the following core features:

  • Stability in value: Value of TrueUSD backed by USD, making it a stable currency that any cryptocurrency exchange can use.
  • Legal Protection: Anyone who passes the KYC / AML standard test has the right to use TrueCoin legally for USD.
  • Guaranteed 1: 1 ratio between TUSD and USD: All TrueUSD coins are always 100% mortgaged in USD, held at banks of publicly disclosed companies.
  • Plainness: TrueUSD bank accounts will be made known to the public and subject to monthly audits by reputable third parties.
  • Bank-level security: TrueUSD will regularly undergo independent third party assessments by leading auditors to ensure the best possible privacy practices.
  • Direct cash withdrawal at a bank: Users do not need to interact with TrueUSD when they want to exchange money for USD. Instead, they can transact directly with the company's bank, and TrueCoin never touches the fund ..

How to use TrueUSD

Here are the basic basics you need to know to start working with TrueUSD:

  • You passed the test KYC / AML
  • You deposit USD for a trusted company with a depository agreement
  • When a trusted company verifies your money, their API instructs TrueUSD's smart contracts to issue TUSD equivalent to your public Ethereum address.
  • To withdraw USD, you need to pass KYC / AML check, send your TUSD token smart contract from registered Ethereum address, then the bank will monitor and send money to you.

TrueUSD history and development roadmap

  • Q3 / 2017: Complete SmartTrust, start developing TrustProtocol for auditing and insurance.
  • 12 / 2017: Establish partnerships with banks and exchanges, continue to develop TrustProtocol, and conduct a fundraising round for the TrustToken Platform on which TrueUSD is built.
  • 1 / 2018 Month: Launch support for purchase / bank transfer. Deploying TrueUSD smart contract; Launch alpha version of TrueUSD for traders and institutions
  • 2 / 2018: List TrueUSD on the exchange.
  • Q3 / 2018: Launch of TrueUSD beta

TrueUSD development team

Development team of TrueUSD is a Trust Token development team consisting of many distinguished members from Stanford University, Google Brain division of Google, and Palantir Technologies. TrueUSD based in the San Francisco Bay area, established in September 9. Here are the project's featured members.

  • Daniel An - CEO of TrustToken: Daniel has an IT and data science background and has some experience managing developers at PwC.
  • Rafael Cosman, CTO of TrustToken. has a machine learning background (worked at Google Brain and Palantir) and is the founder of HackSphere, a private community of more than 200 engineers from Stanford and MIT
  • Stephen Kade, Co-founder of TrustToken. Previous researcher at Kernel and co-founder at NeuroTechX

The main partner of TrueUSDThese include Stanford StartX Fund of Stanford University, G & TCA, Law Offices of Oshins & Associates, LLC, Cooley, WilmerHale, Alliance Trust Company of Nevada, Wealth Advisors Trust Company and others.

Exchange rate of the current TUSD Coin

TUSD cryptocurrency is listed at Coin Market Cap from November 3 with an initial price of US $ 2018. At a time Virtual money blog If you write this article on May 19, 5 then the price TUSD digital currency is 1.01 USD, as I said above, the value of TUST corresponds to USDT so its price will fluctuate at 1 USD.

Show TUSD electronic currency Has a total capitalization of more than 16 million USD. The trading volume in 24 hours is over 16 million USD. Number of coins TUSD in circulation is 16.193.018 TUSD. You can see TUSD exchange rate Coins are updated in real time to keep track of their price movements.

Trading in TUSD coin on which exchange?

Currently, you can trade coins TUSD At 4 exchanges in the world, including: Bittrex, Upbit, CoinTiger and Kuna mainly via TUSD / BTC, TUSD / ETH and TUSD / USDT.

Update: TUSD is officially available Binance floor - One of the largest coin exchanges in the world.

Store TUSD tokens in any wallet?

Present TUSD is the standard token ERC20, so e-wallets used to store them must comply with ERC20 standard and current popular wallets are MyEtherWallet, Safe deposit, Ledger Nano S, ImToken or Metamask.

If you are a regular trader, you can store it TUSD coin directly on the electronic wallets of the exchanges. If you are a long-term investor and do not need frequent transactions, you should use the specific wallets we have suggested for you above.

See more information about TrueUSD (TUSD)

Conclusion

Above is the overview of TrueUSD electronic currency (TUSD) Hope the article will help you get useful things about TUSD coin. If you have any questions or would like to share your knowledge about digital currencies TUSD With us, please contact us in the comment section below, we will respond to you as soon as possible. Finally, don't forget Like, Share and give us one 5 star rating below to support Virtual money blog ok

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