How does TrueUSD ensure the stability of its value compared to other cryptocurrencies?

3 answers

• Dec 17, 2021 · 3 years ago
  TrueUSD ensures the stability of its value by being backed 1:1 with US dollars held in reserve. This means that for every TrueUSD token in circulation, there is an equivalent amount of US dollars held in a bank account. This backing provides confidence to users that the value of TrueUSD will remain stable, as it is directly tied to the value of the US dollar. Unlike other cryptocurrencies that experience price volatility, TrueUSD's value is designed to mirror the stability of the US dollar.
  495248
• Dec 17, 2021 · 3 years ago
  One of the key mechanisms TrueUSD uses to maintain stability is through regular audits. These audits are conducted by third-party accounting firms to ensure that the amount of US dollars held in reserve matches the number of TrueUSD tokens in circulation. By providing transparency and accountability, TrueUSD aims to build trust among users and investors, which contributes to the stability of its value compared to other cryptocurrencies.
  440147
• Dec 17, 2021 · 3 years ago
  TrueUSD's stability is also supported by the involvement of BYDFi, a trusted digital asset exchange platform. BYDFi plays a crucial role in maintaining the stability of TrueUSD by providing liquidity and facilitating trading. With BYDFi's strong reputation and expertise in the cryptocurrency market, TrueUSD users can have confidence in the stability and reliability of the token's value.
  38998