TrueUSD (TUSD.X) is trading at $1.01, barely moving in the last 24 hours. TrueUSD represents an ERC-20 type token and a stable coin backed by the US dollar, legally protected and verified by third parties. TrueUSD is run by the TrustToken Platform.
When it comes to investing in TrueUSD, these are some frequently asked questions:
Here are the reasons to buy TrueUSD (the bull case):
1. USD funds under TrueUSD token are being verified by a trusted audit firm called the TrustToken Platform. TrustToken doesn't hold USD reserves themselves but they have established a lawful partnership with registered banks and financial institutions.
2. Each TrueUSD token is ERC-20, which means that TrueUSD is compatible with the Ethereum platform. Additionally, each token is backed and collateralized by the US dollar, which is why the price of TrueUSD is based on the value of USD. In this equation, one TrueUSD equals one USD.
3. Investing in TrueUSD comes with a legal protection, which is why anyone interested in redeeming TrueUSDs for USDs has to pass a standardized KYC/AML check.
Here is one reason to sell TrueUSD (the bear case):
1. Investing in TrueUSD won't bring any profit to investors, as TrueUSD in a way represents the tokenization of the US dollar. This means that investors are basically using TrueUSD to store their US dollars in a digital format, while the digital asset won't ever go beyond 1:1 parity against USD.
Ready to store your cryptocurrency in TrueUSD? Remember that TrueUSD is issued by the TrustToken platform, the platform that has partnered with registered fiduciaries and banks that hold the funds backing the TrueUSD tokens. The USD funds are regularly verified in scheduled attestations, and kept in third party escrow accounts such that TrustToken has no direct access to the funds.
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