How to buy and hold USDD with Wigwam
1. Choose a token number that you want to buy
2. Create a wallet, where to store your crypto
3. Pay with credit card
4. Check your crypto in the created wallet
Why Wigwam is the best crypto wallet for USDD (USDD) storage
Ultimate security, only you have access to your USDD tokens
Send, Receive, Store your USDD tokens free and without limitations
Check the real-time value of your crypto tokens
Buy, Sell, Exchange USDD (USDD) directly in the wallet
Stake USDD (USDD) by connecting Wigwam to the popular DeFi dApps
No KYC or personal data collected
USDD Token Review
USDD (USD Digital) is a stable cryptocurrency, pegged to the USD and traded as dollars. The stablecoin was introduced by Justin Sun, founder of Tron DAO in May 2022. The USDD is not exclusive to a particular blockchain, but it's backed by Bitcoin, Ethereum, and TRON and can be used for payments, trading, staking as well as a value store.
About TRON DAO
Tron DAO Reserve (TDR) is a group that is responsible for governing the Decentralized USD (USDD) a stablecoin within the Tron ecosystem. Tron DAO Reserve allows only certain institutions to create and swap USDD. They're called "whitelisted members." Recently, a big crypto trading company named Wintermute joined this group.
Unlike traditional stablecoins like USDT and USDC, which are pegged 1:1 to the U.S. dollar reserves of centralized platforms, USDD operates differently. It is minted by whitelisted institutions of the TRON DAO Reserve (TDR) through burning TRX, and its value is backed by the over-collateralization of highly liquid crypto assets under the TDR, including BTC, USDT, USDC, and TRX.
USDD Use Cases
- Peer-to-Peer Transactions: Like conventional cash, USDD allows you to direct transactions between two parties, doing away with the need for middlemen and giving participants more control over the transaction process. Because of this, it's perfect for peer-to-peer transactions, in which participants want to exchange money without involving a middleman.
- Decentralized Finance (DeFi): You can use USDD in Decentralized Finance (DeFi) for borrowing, lending, and other financial transactions without depending on the traditional financial system. Its stable value adds predictability to financial transactions within the decentralized ecosystem.
- Staking: You can stake your funds, by locking them in to take part in the consensus mechanisms of blockchain networks. Those who stake their funds to support and make the blockchain better, get additional USDD as a reward.
- Trading: Traders can use USDD on different cryptocurrency exchanges and trading platforms for trading. It has a constant value so it acts as a safe option during market volatility. USDD can be used to transfer funds between different cryptocurrency exchanges too quickly.
USDD has a market capitalization of $717,309,511 and a circulating supply of 725,332,034 tokens, at the time of writing this article. To control its value at $1 and its circulating supply, the Super Representatives are utilized.
Super Representatives maintain the stability of USSD by ensuring the total value of the assets backing the stablecoin exceeds the value of tokens in circulation. When the value of USDD exceeds $1 because of its higher demand than the supply, Super Representatives allows users to swap TRX worth $1 in exchange for 1 USDD. This process burns TRX and mint USDD, increasing the supply and maintaining its value at $1.
USDD is backed by diverse digital assets like TRX, BTC, ETH, and USDT which ensures its stability.
USD Digital claims to be a stable crypto coin but it has experienced significant price fluctuations, as its value dropped to $0.97 on December 12, 2022. The stable crypto has been struggling to maintain its 1:1 peg with the US Dollar as the crypto market is famously volatile and the growing liquidity crisis of the crypto market is only intensifying the challenges of USDD.
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.
You may use the Wigwam web3 wallet to buy USDD. Also, there are some well-known centralized exchanges such as Huobi, and Gate.io, and decentralized exchanges such as UniSwap and PancakeSwap where you can purchase USDD coins.
The steps specifics might vary based on the wallet you are using but the general
steps will be as follows:
Open your crypto wallet, Navigate to “Manage Token”, and then click on “Add Token” and then enter the USDD token details as follows
- Token Contract Address for Tron: TPYmHEhy5n8TCEfYGqW2rPxsghSfzghPDn
- Token Contract Address for Ethereum: 0x0c10bf8fcb7bf5412187a595ab97a3609160b5c6
- Token Symbol: USDD
- Decimal Precision: With 18 Decimals
After entering the token details, click “Save” to add the token to your wallet.
You can stake USDD and earn Annual Yields up to 28.46% according to the TRON DAO. However, check carefully information about this project and associated risks before any staking.
USDD claims to be a stablecoin, but its value does fluctuate, it's important to thoroughly investigate as crypto currency involves risk, before buying USDD as previously a similar stable token TerraUSD collapsed in May 2022.