How to Buy Artificial Superintelligence Alliance (FET)
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FAQ
Is TrueUSD (TUSD) a Good Investment?
TrueUSD is a good investment, especially if you are new to the crypto market and want to understand how digital assets function without worrying about losing your capital. You can buy TUSD, hold it or trade it against other crypto assets when you feel more confident.
As we discussed above, the TrueUSD price is pegged to the US dollar and maintains this peg even in times of highly uncertain and volatile market conditions. The stability of TUSD price statistics makes it a reliable crypto asset to include in your portfolio when you wish to hold crypto funds but protect yourself from price fluctuations.
TrueUSD could be a beneficial asset to invest in when the crypto market experiences sharp sell-offs or bearish price action. At such times, TUSD offers a way for you to park your funds in your wallet or exchange without exiting the crypto market entirely.
The TrueUSD crypto also makes for an excellent safe-haven instrument to hold when global markets face considerable uncertainty. As the TrueUSD value remains the same as that of the US dollar, it can be an especially attractive investment for overseas investors who wish to hold USD when their respective currencies weaken against the greenback.
How Does TrueUSD Make Money?
Investing in TrueUSD can offer a far more risk-free and safer way to grow your crypto portfolio, protected from the market’s notorious volatility. Here are some ways to make money by investing in TrueUSD stablecoin:
Protect Against Sudden Market Volatility
TrueUSD can be a precious asset in your portfolio during bearish price action in the overall crypto market. Unlike other cryptocurrencies, the TUSD price will continue to maintain its peg to the USD, preventing you from suffering losses while other digital assets’ prices head lower.
DeFi With TrueUSD
Several exchanges and DeFi platforms offer attractive returns on holding and staking TUSD. Perform careful online research on options that let you hold TUSD savings and offer APYs in exchange for growing your holdings in a risk-free manner.
Lend Liquidity
Leading DEXs and cryptocurrency exchanges offer attractive incentives if you lend your TUSD holdings to liquidity pools that can support the trading operations of the platforms. It is a safe and risk-free way to earn passive income by investing in TUSD.
TrueUSD vs. Tether vs. USD Coin - the Difference
Are you wondering what the differences between TUSD and other stablecoins in the crypto market are? Here’s a comparison of TUSD vs. USDT vs. USDC:
Market Cap
Tether (USDT) is the world’s most popularly used stablecoin and leads the list regarding market cap and 24-hour trading volume. USD Coin (USDC) ranks second in the list as of July 2022. TrueUSD (TUSD) comes in fifth regarding market capitalization and trading volume among stablecoins. TUSD is the 39th largest crypto asset by market cap, while USDT and USDC feature among the top 10 cryptos.
Effectiveness in Maintaining the USD Peg
TrueUSD is one of the most price-stable digital assets that continues to maintain its peg to the US dollar even during extreme market volatility. This is because it is one of the few stablecoins in the market completely backed by US dollar reserves.
On the other hand, the other stablecoins, USDT and USDC, have experienced some challenges in maintaining the peg to the USD. Tether has come under fire as its reserves are not completely backed by the US dollar in cash reserves but also consist of more illiquid commercial paper reserves backing the peg.
Supported Platforms
Due to their high liquidity and trading volumes, USDT and USDC are listed on a larger number of DEXs, CEXs, and digital wallets. On the other hand, the lower trading volume of TUSD shares a close correlation with the small number of exchanges and platforms that support the crypto coin.
Can I send TrueUSD to MyEtherWallet?
TrueUSD operates as an ERC-20 token on the Ethereum blockchain and, as a result, can be stored in MyEtherWallet (MEW) - one of the most popular wallets that support ERC-20 tokens. Follow the steps given below to transfer TUSD to MyEtherWallet:
1. Register for an account and create a new wallet on MEW. You can also download the MyEtherWallet on your smartphone or access it via the Web.
2. Head to KuCoin or any other exchange where you can buy TrueUSD coins.
3. Transfer your TUSD crypto from KuCoin or other platforms into your MEW wallet. Copy your MyEtherWallet address and enter it in the Withdraw to option.
4. Please verify that you are working with the ERC-20 TUSD on your exchange and trying to transfer it into MyEtherWallet.
5. Enter the number of TUSD you wish to withdraw and review the trading fees you will be charged for the transaction before confirming the transfer.
6. A few minutes after successful withdrawal, your TrueUSD crypto should reflect in your MEW wallet.
Is TrueUSD Fully Backed?
TrueUSD is fully collateralized, meaning that it is fully backed to support its peg to the US dollar. In addition, it is also one of the few stablecoins in the crypto market that enjoy complete legal protection.
TrueUSD’s backing is also transparently verified by third-party attestations to ensure high investor confidence in this digital asset. The TrustToken-based stablecoin leverages multiple escrow accounts to mitigate counterparty risk and offer legal protection to TUSD holders against misappropriation of their assets.
You must complete KYC/AML documentation to invest in the TrueUSD stablecoin and wire funds to third-party escrow accounts. Each TUSD token represents a redeemable certificate for 1 USD held in escrow on behalf of its holder.
How to Convert TUSD to USDT
You can convert TrueUSD (TUSD) to Tether (USDT) using the KuCoin platform. Here are the steps to follow:
1. Visit the KuCoin Spot Trading section to find the USDT/TUSD crypto trading pair.
2. Review the latest USDT to the TUSD exchange rate. While it is typically 1, market volatility could vary the peg and cause minor fluctuations in the exchange rate between these two stablecoins.
3. Place a sell order to exchange TUSD for USDT on this page.
4. Enter the number of TUSD you wish to exchange for USDT, review the number of USDT you can receive, and the trading fees you must pay.
5. Click on Sell to proceed with the trade order after reviewing all details.
Artificial Superintelligence Alliance (FET) Price Analysis
Live Price
The live price of FET is 1.38 USD, representing an increase of 28.86% in the past 7 days and 1.22% increase in the past 24 hours.Historical Trends
The all-time high of FET was 3.47 USD on 03-28, 2024, from which the coin is now down -60.13%.The all-time low of FET was 0.0082 USD, from which the coin is now up 99.40%.