Easy way to Buy TrTrueUSD(TUSD) Online with Wigwam crypto app

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TrueUSD | TUSDTrueUSD1,223 TUSD

How to buy and hold TUSD with Wigwam

TUSD

1. Choose a token number that you want to buy

2. Create a wallet, where to store your crypto

3. Pay with credit card

816.23 TUSD

4. Check your crypto in the created wallet

Why Wigwam is the best crypto wallet for TrueUSD (TUSD) storage

Ultimate security, only you have access to your TrueUSD tokens

Send, Receive, Store your TrueUSD tokens free and without limitations

Check the real-time value of your crypto tokens

Buy, Sell, Exchange TrueUSD (TUSD) directly in the wallet

Stake TrueUSD (TUSD) by connecting Wigwam to the popular DeFi dApps

No KYC or personal data collected

Why Wigwam is the best crypto wallet for TrueUSD (TUSD) storage

TrueUSD (TUSD) Overview

TrueUSD or TUSD is a fiat-collateralized stablecoin. It means that its value is pegged to the USD dollar on a 1:1 ratio. The main purpose of the coin is to create a digital currency that represents the US dollar on the blockchain.

Usage Cases

  1. Hedging. Tokens can be used to hedge a cryptocurrency portfolio and prevent it from losing value because of market fluctuations.
  2. Payments. TUSD may be used as a means of payment and be an alternative to traditional money transfer
  3. DeFi. Stablecoins are commonly used in Decentralized finances for lending, borrowing, staking, etc.
  4. Trading. TUSD is used as a stable medium for traders on centralized exchanges and DEXes.

Technical overview

TrueUSD was created by the TrustToken platform, and technically, it’s a standard ERC-20 token on the Ethereum blockchain. Every token has an equal amount of collateral in USD that is stored by TrustToken.  

In order to mint new tokens, you should visit the TrustToken or TrueUSD website, register, and conduct KYC/AML checks. After that, the required amount of USD should be sent to the TrustToken bank account, and in return, they mint an equivalent amount of TUSD and send it to your Ethereum address.

To change TUSD and get USD in your bank account, you must initiate a redemption request using their official websites. The second step is to send TUSD tokens to their Ethereum address, pass a verification, and receive dollars in your bank account afterward.

Economical overview 

Currently, the TUSD capitalization is 2.8 billion dollars, making it one of the most popular stablecoin solutions on the market. This token is usually not used for long-term investments, and users mostly use TUSD for hedging portfolios, conducting payments, or transferring value from one blockchain to another. 

Challenges

  1. Centralization -TUSD is a centralized solution, so all potential problems with the parent company may instantly impact the token price. 
  2. Fees - most TUSD are issued on Ethereum; for transferring this token, users should pay large fees that can be bigger than the sum of the transaction.
  3. Regulatory compliance - new regulations may force the issuance of this token or significantly complicate its turnover. 
  4. Technological risks - all risks related to smart contracts and blockchains are applied to this token.
  5. Trust and transparency - the TrustToken company should constantly provide full transparency of the current USD reserves to the users and conduct independent audits. 

At the moment, TUSD is considered an alternative to the USDT and can be used on the crypto market as a bridge between traditional finances and cryptocurrency systems.

Disclaimer

This article is for informational purposes only and should not be interpreted as financial or investment advice. The views expressed herein represent solely the opinion of the author and are not intended to provide specific trading or investment recommendations. We do not guarantee the accuracy, completeness, or reliability of the information contained in this article. The cryptocurrency market is known for its high volatility and unpredictable fluctuations. Investors, traders, and anyone engaging with cryptocurrency are advised to conduct thorough research, consider a variety of perspectives, and acquaint themselves with applicable local regulations prior to making any investment decisions.

FAQ

You may buy TUSD directly on the official TrustToken or TrueUSD websites. Also, use our Web3 wallet, Wigwam, to make this process faster and buy tokens with the aid of a credit card. Besides, many exchanges support TUSD, and you can use them for this purpose.

TUSD doesn’t have direct staking options, but you may find appropriate DeFi projects on DeFi Lama that have this option. However, before interacting with any dApp, learn about the potential risks of working in crypto. This knowledge reduces your chances of losing your funds.

You may use any blockchain explorer that supports the Ethereum network. We recommend using Etherscan.io You should add your wallet address in the search box on this website, and afterward, you may check all activities with TUSD that were conducted in your wallet.

Firstly, you need to check that your wallet supports ERC-20 tokens. After that, you should send TUSD to your wallet. If you don’t see this token, try manually adding information about it. Click the “Add token” button and add information about the token smart contract; for Ethereum, it is 0x0000000000085d4780B73119b644AE5ecd22b376, Symbol: TUSD, and the number of Decimals is 18. Save this info and reload your wallet.

TUSD is a centralized cryptocurrency token that can be affected by many risks. Some of them are regulatory risks, potential problems with the parent company, technological risks, stablecoin competition, etc.