Crypto Academy Week 7 - Homework Post for @yohan2on

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Hello steemit community! How are you all? I hope everything’s great with everyone. Week 7 of crypto academy is here. This is going to be my first homework post for @yohan2on. Let’s get started!

Well, since this is my first homework so let’s start with “what are stable coins”

A "stablecoin" is a cryptocurrency whose value is bound to an external asset, such as the US dollar or gold, in order to keep its price stable.

There are a lot of benefits of cryptocurrency, but one drawback is major enough to tackle those benefits and that is volatility of the market. You never know if prices are going to have great fall or a big jump up.

Now let’s move to the task given to write about one of the coins mentioned.

I’ll be talking about TrueUSD (TUSD)

What is TrueUSD (TUSD) ?

It is a stable coin which is pegged to USD. TUSD is the platform's first asset token, offering users daily attestations of escrowed balances, absolute collateral, and legal defence against the misappropriation of the underlying USD. This coin can be redeemed for 1-to-1 US dollars.

The main element is that the TrueUSD (TUSD) network does not have access to funds for security reasons, so all transactions are done directly via Escrow accounts.

Key Properties offered by TrueUSD

There are number of benefits provided by this coin. Some of them are mentioned below:

• Legal Protection

The holders of this coin are given this benefit of legal protection and are also provided with proof of everything so that they don’t have any doubt left in mind about volatility or anything and these are provided via escrow accounts.

• Trustworthy Fund Management

The users are provided with extra security so that there’s no danger of anything is left. The systems of TUSD can never access one’s funds directly, Instead they process the funds via escrow accounts and it is because it reduces the involvement of intermediate sources in the transactions which makes the security of data better.

• Fully collateral

This currency is entirely backed by USD, which is owned by a reputable firm. As a result, it is redeemed 1:1 from TUSD to USD and vice versa.

• Regular attestations

Escrow accounts are separate identities that are routinely reviewed by leading investigators to ensure the highest level of protection.

Now, Where to buy TrueUSD?

TrueUSD is compatible with a variety of cryptocurrencies, including BTC, ETH, BNB, and KRW. Users may use this to get access to the TUSD token if they have any of the above-mentioned currencies.

It is also available on many other platforms like

• Binance
• Bittrex
• SouthXchange
• Cryptopia
• HitBTC

How to redeem TrueUSD?

Well here are the steps:

1- Go to this Link and sign up

After you sign up using your data, they will ask you to wait for 2-3 days.

2- After the setup of your account you have to visit TrustToken site and provide them with your bank information and you’ll be given your particular redemption address.

3- Send TUSD grom crypto.com app to your particular redemption address. Remember the minimum amount that can be sent is $1000.

Source

That’s all from today’s homework.

@yohan2on I did some research on internet, mostly from here
I hope that doesn’t come under plagiarism.

I put in a lot of effort so please do evaluate.

Special Mentions to:

@steemcurator01
@steemcurator02
@yohan2on