Trade TUSD - TUSD Markets, Exchanges, Broker
After rumors and accusations of the crypto currency tether had been heard again and again in the past, the demand for a secure alternative grew. Binance will start trading TrueUSD (TUSD) tomorrow in order to offer all tether contestants an alternative.
Available on Exchanges Now
As we already reported, the Bittrex crypto currency exchange introduced the "stable coin" TrueUSD at the beginning of April. This new crypto currency functions similarly to tether and is pegged to the US dollar. This means that one TrueUSD is exactly one dollar. In contrast to Tether, however, the TrueUSD coin should be legally compliant and offer complete transparency.
Binance will initially only support trading in Bitcoin, Ethereum and the exchange's own crypto currency, the Binance Coin. Trading will be officially approved on 18.05.2018. Binance also states that TrueUSD is supported by several companies and that regular checks take place:
In the TrueUSD ecosystem, US dollars are held on the accounts of several trust companies that have signed escrow agreements and not on a bank account controlled by a single company (as in the case of tether). The contents of these bank accounts are published every day and are subject to monthly checks.
TrueUSD thus tries to ensure the greatest possible transparency from the outset and thus clearly show the advantage over Tether. In order to further convince potential users, TrueCoin has switched to licensing the company as a "Money Service Business".
Based on Omny-Layer
The crypto currency Tether is based on the Omni-Layer (formerly Mastercoin), a platform that issues tokens on the Bitcoin blockchain. TrueUSD, on the other hand, is an ERC20 token based on the Etherem block chain.
Shortly after the announcement of the introduction of TrueUSD on Binance, the exchange rate rose to 1.30 dollars. A short time later, however, the price fell back to the 1 dollar mark. Market capitalization is still relatively low and currently stands at just under USD 16 million.
Although the first impression seems to be more serious and safer than that of Tether, it remains to be seen whether the new crypto currency can actually hold its own in the long term and assert itself as a real alternative to Tether.