Table of Contents
1. Choose a crypto exchange
First things first, you need an exchange that both has TrueUSD, and is trustworthy!
You can find our top 3 exchanges for buying TrueUSD here, alternatively you can also check our comparison of the best Australian crypto exchanges if you’re generally interested in seeing which exchanges work for Australians.
2. Sign up with the crypto exchange
Once you’ve chosen your crypto exchange, it’s just a matter of signing up and getting your account verified. Most exchanges have streamlined this process very well so it shouldn’t take long.
3. Fund your account
The next step is to transfer AUD or another cryptocurrency into your account. Most top crypto exchanges offer various payment methods. From bank transfer to PayID, POLi pay and credit cards, it’s very straightforward.
4. Buy TrueUSD
And of course, the final step is to find TrueUSD on the exchange and buy it. A lot of exchanges offer different ways of buying cryptocurrencies, like market orders and limit orders.
Where to Buy TrueUSD (TUSD)
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How to Sell TrueUSD
- Sign into the exchange
- Find where you stored your TrueUSD, either on a hardware wallet or on the exchange.
- Transfer your TrueUSD to the right place on the exchange, it could just be the same wallet or a dedicated trading account.
- Sell TrueUSD.
Considerations when looking to buy TrueUSD.
TrueUSD is a U.S. Dollar stablecoin that can be pegged to USD at 1:3. TrueUSD was first launched in January 2018 to a small investor base. Since then, TrueUSD has grown to include almost $400 million worth of backed tokens by October 2020.
TrustToken is a platform that tokenizes real-world assets and TrueUSD is just one of many cryptocurrency stablecoins.
TrueUSD, like other stablecoins aims to increase liquidity and provide cryptocurrency traders with a nonvolatile asset in comparison to free-floating tokens like Bitcoin (BTC).
TUSD was the 38th most popular cryptocurrency in terms of market capital as of October 2020.
TrueUSD seeks to balance utility and stability -- the main uses cases for any stablecoin -- while providing security through regular attestations.
TrustToken, the parent company of the stablecoin, has stressed the importance of independent verification regarding the coin's provenance since its inception. The stablecoin appeal is therefore geared towards large investors who want to lower risk and smaller private traders.
TrustToken refers to TUSD as the "first regulated stablecoin fully supported by the US Dollar."
TrueUSD is part a growing stablecoin market that now includes many USD-backed assets. Tether (USDT), which has a market cap in excess of $15 billion, is still the largest. This compares to TUSD's $382million.
TrustToken has formed various corporate partnerships to support its business activities. This includes options for TUSD holders who want to increase their annualized passive income returns.