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TrueUSD Launches Another Pair on Bittrex, Offering Cryptocurrency Traders a Long-Awaited Tether Alternative

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Tether has long been used as an option for traders to lock-in trading gains, since the token is tied to the value of the USD. However, in the Spring of 2018, Tether stopped allowing transparent auditing and in some cases, no longer allowed people to cash out their USDT tokens for USD.  

TrueUSD was started in response to the major flaws with Tether. It offers a functional stablecoin for investors to use in.

What makes TrueUSD more viable than Tether is that it is collateralized one-to-one with USD, offers legal rights to token holders, and utilizes bank-grade proof of funds, and trusts to hold the funds. All of this means investors can trust that TrueUSD will actually be backed by USD and that what they are buying in is tangible and redeemable.

Moving forward, the TrueUSD token will need to expand its user base if it wants to compete with Tether. Since Tether is listed on most major exchanges and is the stablecoin most investors have the most access to, it has a moat of both transactions and users.

However, many traders believe that by trading in and out of Tether, they are playing a dangerous game, hoping that when the hammer comes down on Tether that they will not be left holding the bag. That’s why the TUSD/USDT pairing is ideal for traders as it will create a low friction way to trade out of Tether.

Without proof of funds and true collateralization, Tether will inevitably reach a day where the markets react to their arbitrary pricing and market cap, leaving investors open to large risk.

With this new crypto asset, investors can move money in and out of investments, without having to cash out their money all the way to USD in a bank.

Ultimately, TrueUSD helps legitimize a crucial type of cryptocurrency that needs to exist in the space. Stablecoins offer a much-needed capacity of removing risk from the crypto space. With the launch of TrueUSD on Bittrex, investors on those markets can begin to tie their wealth to the USD, while still leaving their money on the blockchain.

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