What Is TrueUSD & How to Exchange TUSD at Best Rates?
Stablecoins have been able to take the crypto industry game to a whole new level. Other coins and tokens with their fluctuating prices are infamous for their volatile nature which might make die-hard conservatives think of them as somewhat unsuitable for day-to-day use. But it becomes different with stablecoins, such as TrueUSD, entering the space. Though pegged to USD, there might be a premium on getting your hands on TUSD coin, and Swapzone’s here to help you find the best exchange rates and show how to exchange TrueUSD with no custody..
What is TrueUSD (TUSD)?
TrueUSD is a stablecoin, launched and backed by TrustToken, with an equivalent in USD. Unlike some other famous stablecoins, TrueUSD coins are regularly audited, with the report going public, to ensure the masses that the peg is maintained at all time.
TrueUSD cryptocurrency offers a variety of benefits to users around the world. Listed on major cryptocurrency exchanges and accepted by thousands of merchants worldwide, it provides a secure and easy means of movement of not only value, but helps traders to mitigate their losses in a bearish crypto market.
TrueUSD (TUSD) is more than just a stablecoin. It has a whole ecosystem that you can leverage in your daily lives and the crypto world. The biggest feature of TrueUSD is its transparency. With many other stablecoin issuers refraining from publishing their reports, they can easily destabilize the market if people request to redeem crypto since they will not be able to back it. On the other hand, each TrueUSD token is backed by one USD, meaning coin holders can always take their TrueUSD and exchange it for fiat currency such as US Dollar.
As a stablecoin, TUSD ensures the price stability that we are so used to and merges it with the ease of storing and moving crypto. It offers a whole new economic benefit of spending without the need for intermediaries such as payment processors and banks, which might save us some money.
The team behind TrueUSD understands the fragmented nature of cryptocurrencies. Limiting TUSD to one network means that hundreds of thousands (if not millions) are cut off from its benefits and use. As such, there is not only an Ethereum compatible TrueUSD ERC20 token, but also a BEP2 token (Binance Chain) and a Binance Smart Chain compatible BEP20 token, too. Its availability on the largest DeFi network makes TrueUSD tokens more accessible and lucrative. Holders can use it to take part in different DeFi protocols as liquidity providers, gain LP tokens and further stake the LPs to generate wealth.
TrueUSD vs. USD Coin
- USD Coin (USDC) is another stablecoin, just like TrueUSD. Both are available to the public and are pegged to the US Dollar, but this is where the likeness ends.
- The USDC coin was created by a consortium of companies, called Centre, which itself was formed by a crypto peer-to-peer payment firm Circle, and is heavily promoted by Coinbase since Centre includes members from Coinbase itself and is heavily backed by one of the largest ASIC manufacturers, Bitmain.
How to exchange TrueUSD to Bitcoin?
Converting TrueUSD to other cryptocurrencies and vice versa is easy and pretty common. The community often wants to exchange TUSD for BTC or BTC for TUSD.
Since Bitcoin is a volatile asset, its price is constantly fluctuating. You can end up paying more than expected when buying. There are two more factors that have their role in this game. The first is a fee that services might take to make profit and the second is the price difference between exchanges that is affected by platforms’ internal supply and demand mechanics. But you shouldn’t worry about all that with Swapzone. It is a crypto exchange aggregator that can help you exchange TUSD to BTC and vice versa in a matter of minutes, showcasing only the best exchange rates.
Here’s what you need to do to convert TUSD to BTC:
- Go to Swapzone to get your work started.
- Select TUSD in the Send section (pay attention to TUSD’s network since Swapzone supports two of them, and selecting the wrong one may result in a loss).
- Specify the total amount you are going to exchange.
- Select BTC in the Get Up To section.
- Review the offers on the screen. You will find multiple offers with the best rate listed at the top. You can also see how many minutes it would take for you to complete the TUSD-BTC exchange.
- Confirm the offer you wish to proceed with and then enter the wallet to receive BTC.
- Copy the generated TUSD address and send your TUSD deposit. Make sure the deposit sum matches the one you specified on Swapzone.
- Wait for the deposit to be processed by the exchange service and the exchange to be done.
- Do not forget to rate the exchange partner, so we can gather more information on the exchanges for future users.
That’s it, all you need to do now is to wait for the TUSD to BTC exchange to be completed and to use your BTC any way you want.