What is True Coin & How Does It Works?

TrueCoin is a service that links asset tokens to the TrustToken platform and lists them on exchanges. The TrueCoin names are trusted by traders as they have a legally secure connection to the underlying assets based on TrustToken standards and a fiduciary network.


What is TrustToken?


TrustToken  is a set of legal and technical standards for margining currencies and assets in the real world.


Features:




  1. Raising standards: We need a simple stable token, without the need to trust the company's hidden bank account or special algorithm. Our legal framework allows you to directly exchange escrow dollars - we never touch funds. Our public, verified smart contracts provide 1: 1 equality between TrueUSD and USD in accounts.


  2. Why Escrow Accounts?
     As one of the most widely used legal treaties for asset management, escrow accounts provide daily audit and full legal protection for token holders.


  3. Stable currency: TrueUSD is backed by the US dollar, acting as a stable currency for digital exchange.


  4. Legal Protection: Anyone who passes the standard KYC / AML verification can redeem TrueUSD for USDFrom 1 to 1 parity. Each TrueUSD is always 100% backed by the US dollar, which is in the banks of professional trust firms


  5. Transparent: Bank account accounts are published daily and are subject to monthly professional audits.


  6. Bank-grade security: We regularly conduct independent evaluations by leading auditors to ensure the best security practices.


  7. Direct bank: Transact directly with the bank of the trust firm. The TrueUSD system never touches funds.


 


What is TrueUSD used for?


Financial Services



 Enter crypto markets without immediate impact on BTC or ETH. Receipts and confirmation of ownership of TrueUSD tokens


 


Exchanges



 Offer customers a stable mosaic that they can trust. Use TrueUSD as an Alternative to Traditional Methods of Buying Currency


 


Crypto traders



 Hedge against volatility in the cryptocurrency market. Move money to crypto without immediate impact of BTC or ETH


 


Commerce



 Online purchases, salaries, escrow and loans are allowed through price stability, allowing the major digital currencies to be used


 


Token Usage



Pays for trustees who meet accounting requirements and interact with legal financial institutions
Equalizes incentives between platform participants and deter bad participants
 Provides all underlying SmartTrusts assets.


How it works?


The work is going on with several trust companies that already manage billions of dollars. Pass the KYC / AML verification and send USD to the trust company with an escrow agreement. When they verify your funds, their API instructs our smart contract to issue the TrueUSD equivalent to your Ethereum public address.


 


To redeem the US dollar, you submit a KYC / AML check, send a smart contract with your TrueUSD tokens from your registered Ethereum address, and then the escrow bank will send you the funds. Thus, the TrueUSD system does not affect funds, and the trust companies make all purchases and receipt of your money through escrow accounts.


 


Features of TRUEUSD (TUSD) cryptocurrency


More recently, TRUEUSD (tusd) has been listed on one of the most popular cryptocurrency exchanges, Binance. Due to the fact that TRUE USD tokens are not volatile, they can be used for settlements within a business, without the risk of changing the rate during the conclusion of the transaction.


The main task of the TRUE USD team is to expand the scope of cryptocurrencies in the real sector.


 


Prospects for TRUE USD (TUSD) cryptocurrency


Given the success of the first stable cryptocurrency, Tether, it can be assumed that TRUE USD will enjoy, if not the same, then slightly less success. Recall that the capitalization of the Tether project is $ 2.4 billion. Most likely, TRUE USD will be used by those exchanges and exchange offices that have not added USDT to themselves before.


 


Where to buy TRUEUSD (TUSD) cryptocurrency


At the moment, we have not yet come across exchange offices that have converted fiat money to TRUE USD. But, you can buy TRUE USD coins on the   Binance,  Youhodler , Kuna and Upbit exchanges. The capitalization of the project is $ 12 million.


 


How is TrueCoin different from Tether?


When you connect funds and complete the KYC / AML process, you become the beneficial owner of the escrow account you sent funds to. Your account ownership is legally recognized and every 1 TrueUSD token you receive is like a $ 1 redeemable certificate of ownership through escrow.


Output


Cryptoeconomics needs a variety of options for stable cryptocurrencies. Some investors may find additional peace of mind knowing that their dollar tokens correspond to the fixed currency in a verified bank account. In the long term, there will be roles for both protocol-based stable cryptocurrencies and assets. Traders will intelligently look for opportunities to diversify their stable cryptocurrencies.

COMMUNITY DETAILS

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