TrueUSD is an ERC-20 stablecoin backed by the US dollar at a 1-1 ratio. It means that for every TUSD minted, one USD is held in a bank account. TrueUSD is backed by trusted, legally sound banking systems and stands out because every coin can be redeemed for USD. TrueUSD and other stablecoins are safe from the volatile swings of crypto markets, making them a must-have for any crypto trader.
With Zengo, it’s easy for anyone to buy, trade, and hold TrueUSD tokens. Zengo requires no recovery keys and is non-custodial, keeping your TrueUSD secure with the latest facial recognition technology. With an easy-to-use interface for new crypto buyers and advanced functions for veterans tracking portfolios, the Zengo wallet has something for everyone.
If you wish to hold, trade, send, receive or purchase TrueUSD, you will need a TrueUSD wallet. Zengo is the safest and most user-friendly cryptocurrency wallet on the market. Despite its ease of use, it does not compromise on security or features. Therefore, it is suitable for both new and experienced crypto traders.
Tracking your crypto portfolio in an evolving market can seem overwhelming. With Zengo, you can ditch portfolio trackers and hours spent researching. Zengo provides access to historical data, your portfolio’s performance, and data about other cryptocurrencies so you can trade on the fly.
Using cryptocurrency shouldn’t feel like rocket science. The Zengo mobile app allows you to send and receive TrueUSD with just a few swipes. You can send your TUSD to other investors from the home screen. To receive coins, simply send your wallet address to the sender. Once the coins are in your wallet, you will be notified.
No matter whether you already own crypto or not, Zengo makes purchasing crypto easy. The app provides step-by-step instructions for buying TrueUSD tokens and other cryptocurrencies. Payment can be made with several convenient methods, making cryptos more accessible to everyone.
Zengo makes it easy to exchange cryptocurrencies for TrueUSD. However, you can also safely buy TrueUSD stablecoins directly using real fiat currencies such as Euros, US Dollars, and pound sterling.
Zengo allows you to buy TrueUSD and other currencies with credit cards, SEPA, Swift transfers, and payments via mobile apps (Bank transfers are available in the EU and UK, but a minimum amount is required).Â
TrueUSD can be held (or HODL’d, as it is called) for however long you like. Zengo has strict security controls in place as well as reliable recovery methods, so no matter if you lose or change your phone, Zengo keeps your crypto safe.
Zengo’s savings service offers a higher interest rate than most banks! However, this applies only to certain coins, but new coins are added all the time.
Stablecoins are the backbone of crypto trading, but each project is unique. Want to know more about TUSD? Here are some essential details to know before taking the leap.
TrueUSD is a fiat collateralized stablecoin with a 1-1 ratio of USD, meaning every TUSD is backed by one real USD. The value of TUSD always returns to 1 USD no matter if the rest of the crypto market is up or down. TrueUSD’s collateral is held in escrow accounts by trusted financial institutions.
TrueUSD was created by TrustToken, a company co-founded in 2017 by Stephen Kade, Danny An, and Rafael Cosman, the current CEO. TrustToken is building an international network of exchangeable stablecoins by tokenizing other currencies like the Hong Kong Dollar and British Pound, along with aspirations for tokenizing other real-world assets.
TrustToken created TUSD as a token to allow for the exchange of value to be used worldwide without third-party fees currently required for international transfers of fiat. TUSD is also compliant with regulatory frameworks to ensure the trust of users and lawmakers.
Like most other stablecoins, TUSD is a consistent store of value, which mitigates some risk while trading, resists inflation, and can be used in Defi. TUSD is becoming a trusted transfer of value internationally with TrueCurrencies.Â
TrueUSD went live in March 2018, backed by significant investor funding and a team from Stanford and Berkely with experience at Google and Palantir. The TrueUSD whitepaper outlined the benefits of a tokenized version of the USD with legal and regulatory backing.
TrueUSD can be minted but not mined. After submitting know-your-customer (KYC) information, USD is deposited in a third-party escrow account, and TUSD is minted. These tokens can then be used in the larger cryptocurrency market and redeemed for USD at any time.
The amount of TUSD in existence is constantly changing based on how many tokens are being minted or redeemed. This number is updated live on the TrustToken Website.
TUSD is a stablecoin, so inflation of the US dollar will definitely affect it. TrueUSD is soft-pegged to USD, meaning that it can fluctuate by several cents. Due to the TrueUSD architecture, TrueUSD’s price will always remain stable since it was designed in a way that traders can quickly correct it when necessary.
Because TUSD is constantly being minted or redeemed for USD, its price changes as more or fewer coins enter and exit circulation. However, arbitrage traders are motivated to cheaply buy TUSD whenever its price goes below 1 USD or sell for profit when it is above 1 USD.
TrueUSD is an ERC-20 token that runs on the Ethereum blockchain​
TrueUSD is a fully transparent payment system without hidden bank accounts.​
Since TUSD is a stablecoin, its price stays consistent, as opposed to Bitcoin, Ethereum, and other cryptocurrencies where the price can fluctuate.​
TrustToken has committed to compliance and establishing trust with financial institutions. It has solid legal protection by using trusted financial service providers.​
Every TUSD token is backed by real USD held in escrow accounts at trusted banks.​
Exchanging TUSD for USD is dealt with without a third party between the owner of funds and the USD accounts.​
Being a stablecoin makes TUSD a reliable medium of exchange, ideal for loans, international transfers, and Defi.​
TrueUSD hopes to eventually have smart contracts controlling escrow accounts and operate as a decentralized autonomous organization (DAO).​
TrustToken has suggested tokenizing real-world assets like sports teams or gold.​
A goal of TrustToken is to disrupt the billions in third-party fees associated with international bank transfers.​
Tokenizing assets that are challenging to trade, like real estate or IP, could be made more accessible with TrustTokens proposals and TUSD.​
TrustToken does not want to compete with other stablecoins, believing traders will want to hedge bets between multiple coins.​
Using TUSD instead of international bank transfer can help small businesses save on fees to middlemen.​
TUSD seeks to create trust in the wake of some industry skepticism about certain stablecoins.​
TrustToken has plans to digitize many more currencies around the world.​
Zengo is a one-stop-shop for all your cryptocurrency needs. The wallet has several unique features that make trading a breeze, whether you are highly experienced or a complete beginner.
With Zengo, you can access your crypto portfolio at any time. Buy, trade, view, or send Ethereum to friends and family on the go, whenever you need to. Unlike other wallets, there are no minimums, no maximums, and no expensive transaction fees. Just safe and simple transacting.
Zengo’s security is enhanced by 3-factor authentication and facial recognition technology. Your assets are always safe with Zengo due to its threshold key signature (TSS) security technology.
Zengo makes it intuitive to buy, send, receive, and trade TUSD directly on your phone with just a few swipes. Without minimums, maximums, penalties, or crazy fees, Zengo makes controlling and trading crypto simple.
Zengo will be able to restore access to your wallet and your coins through its authentication methods. If you lose your device at any time, our helpful agents will help you recover access in no time.Â
At Zengo, we love automation and technology but not for our helpdesk. Find live support agents directly in the app, whenever you need them. We’re available 24/7. Zengo will help new crypto investors every step of the way.
Zengo does not require any technical expertise or cryptocurrency experience. Simply download the app from the App Store or Google Play. Then follow the steps in the app to get started! You can buy crypto from the home screen as soon as your identity and email have been verified.Â
Zengo’s strict authentication protocols provide a safe way to keep your coins in your wallet until it’s time to trade. Because Zengo’s security measures ensure that your coins are safe, accessible, and recoverable even if your device is lost or stolen, it gives you peace of mind when holding your TrueUSD.
To hold, trade, and move your TUSD tokens, you will need a crypto wallet. Your wallet serves as an identification card to prove your identity and ownership of the coins, so picking a safe and reliable wallet is crucial.
In just five simple steps, you can set up your TrueUSD wallet:
With your wallet set up, you can now start buying and trading crypto with Zengo.
Your personal TrueUSD wallet address is generated automatically the moment you create a Zengo account. To view, tap TrueUSD on your home screen and swipe right. The numbers and letters, and QR code is your address. To receive TrueUSD from others, share the string of numbers and letters or let them scan your QR code.
From the Zengo home screen, tap TrueUSD, then swipe left. Follow the prompts to enter their address and press Send. The receiver will get a verification when the coins have arrived. If the person you want to send crypto to doesn’t have a TrueUSD supported wallet, you can just send them an invite to Zengo!
It’s simple! Select TrueUSD from the Zengo home screen and swipe left. Enter the address where you want to send TrueUSD, select send, and wait for confirmation.
To receive TrueUSD, share your wallet address with the sender. With Zengo, finding your TrueUSD address is super easy! Select the TrueUSD on the Zengo home screen and swipe right. The numbers and letters or QR code are your unique TUSD address. Once the crypto is in your wallet, you will receive a notification.
Disclaimer: The information provided herein is for educational purposes only. Zengo does not provide any investment or financial advice whatsoever. As with any financial or investment decision, conduct your own research and due diligence to properly evaluate the benefits and risks of any investment or financial transaction and seek the advice and guidance of qualified financial professionals, in connection with any investment or financial transaction.
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