Introducción

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Thanks to professor @yhoan2on class for deepening the knowledge of stablecoins. I have understood many positives and negatives of stablecoins. When we should or should not use them, what are their weaknesses and strengths in the cryptocurrency market. As investors we must be clear about every aspect involved in a crypto project, whether in standard cryptocurrencies or in stable currencies, in order to have the least risk of losing our investments.

Each of the stablecoins that we have studied have a common purpose for which they were created to avoid the volatility of traditional cryptocurrencies (Bitcoin, Ethereum), however they all have some characteristics that differentiate them.

Are stableconis really as stable as they say? There is divergence in this sense, even more so in those collateralized in fiat money. In appearance and possibly in the short term, taking advantage of the small appreciations of a currency pegged at the price of $ 1 is positive. But neglecting the general trend of the dollar as a currency is a serious mistake.

No matter which national currency you compare, the general trend of any of them is always downward, if you keep your long-term savings in a national currency or in this case in a stable currency. The general trend of that currency will always, absolutely always, downward, since each national currency is always devaluing.

Some of the problems in particular arise when they are used for something that they were not created for, such as savings. In other words, saving in stablecoins increases investment risk.

This time I will talk about the most important aspects of the stableconis and the benefits it brings to the crypto world.

What is TrueUSD all about?

TrueUSD is the first stablecoin issued by the TrustToken platform, which has also launched other stablecoins such as TrueGBP and TrueCHF. What's special compared to other stablecoins is that the platform has joined forces with registered trustees and banks managing the deposits behind the TrueUSD token.

TrueUSD is pegged to the USD exchange rate and is issued on the Ethereum blockchain as an ERC-20 token. It provides users with protection of the underlying foreign exchange reserves through regular reports on fiat deposits.

TrueUSD is a USD-backed ERC20 stablecoin that is fully guaranteed, legally protected, and transparently verified by third-party certifications. TrueUSD uses multiple escrow accounts to reduce counterparty risk and provide token holders legal protections against misappropriation. TrueUSD is the first asset token built on the TrustToken platform. withepaperTrueUSD

TrueUSD Features

• Like other stablecoins, TrueUSD is pegged 1: 1 to the USD. For every TrueUSD token issued, there should be $ 1 in foreign exchange reserves. They only have the possibility to produce new tokens if the foreign exchange reserves are increased accordingly.

• The configuration of TrueUSD is designed in such a way that TrustToken does not have access to the currency reserves. These are continually reviewed by renowned external auditors, whose name and reputation are intended to ensure the confidence of investors.

• To ensure high liquidity and usability of the TrueUSD token, intense efforts have been initiated to include in as many crypto exchanges as possible.

• To ensure high liquidity and usability of the TrueUSD token, intense efforts have been initiated to include in as many crypto exchanges as possible.

• Current TrueUSD currency reserves can be viewed at any time in real time through an account managed in trust. Therefore, there is no question about the actual 1: 1 coverage of all issued tokens.

Uses of TrueUSD

If you want to store your cryptocurrency in TrueUSD, you can quickly do so on exchanges and through brokeds.

The TrueUSD token allows you to send US dollars anywhere in the world in seconds. In addition, TrueUSD transactions have the ability to process up to 1000 times faster and 100 times cheaper than traditional bank transfers.

The use of TrueUSD is mainly based on 3 executors. These are cryptocurrency exchanges, brokers, traders, and investors or traders. The more executors that use the stableconis, the higher its level of utility.

• Cryptocurrency exchanges choose to include it because they want to offer their users the opportunity to exchange cryptocurrencies for TrueUSD to deposit money in this stablecoin.

• Brokers are simply brokers who can also participate in the TrueUSD network by allowing users to buy TrueUSD for a commission against a leading cryptocurrency.

• Merchants can choose to accept payments in TrueUSD. Although these are currently very few, more and more will be added in the future.

Conclution

In conclusion, the future prospects for TrueUSD Coin will depend less on the future price and more on the market volume and tradability of the coin, mainly on how fast it is possible to be available on other exchanges, how it competes with other stablecoins and whether it can win partners for using TrueUSD as currency in everyday life.