Starting today, YouHodler customers can deposit the TrueUSD (TUSD) stablecoin on YouHodler.com and start earning interest up to 12% per annum. Following Tether (USDT), and USD Coin (USDC), this is the third stablecoin supported on the platform with more to follow in the near future.
YouHodler provides multiple ways for users to profit from their digital assets and upgrade their portfolio from that of a passive hodler, to one of an active hodler. YouHodler’s Savings Accounts are a simple, hands free way to crypto earn with interest. Here’s how to earn interest on TUSD in just a few quick steps:
Step 1: Navigate to your “Wallets” page on YouHodler.com
Step 2: Click the “Add funds” button on your TUSD wallet
Step 3: Follow the instructions to deposit TUSD into the platform
Step 4: Watch your TUSD portfolio grow up to 12% per annum
To see how much interest was earned each day, check the “Earned” section of the Savings Account. At the end of each month, the whole earned amount will be automatically deposited into a Savings Account deposit. Users can “Release” it from the savings account and then withdraw or keep their funds in the account to earn more interest until the next settlement period.
TUSD is an ERC20 based stablecoin backed up 1:1 with USD issued by TrustToken. That being said, TrustToken does not actually store any USD reserves. Instead, they are partners with legally regulated banks and fiduciary institutions which hold onto the dollars in escrow. When a user completes the KYC/AML process and then wires funds to a third party escrow account, then an equivalent amount of TUSD is freshly minted and send to their ethereum address. Compared to other collateralized stablecoin projects, this approach increases safety and reduces the risk for the counterparty.
Unlike some other stablecoins, TrueUSD is transparent about their claims. A full audit in March of 2019 by accounting firm Cohen and Company proves that TrustToken has the full amount of United States dollar reserves. The report stated that $199,063,885 was held in the escrow account while the balance of TUSD tokens issued and in circulation was 198,982, 291 TUSD at the time of the audit.
We here at YouHodler always put clients, transparency and innovation first and that is something TrustToken has always accomplished to a high degree. They really do put the “trust” in TrustToken. So help us welcome TUSD to the platform and start experimenting with all the ways you can use it for your benefit.
After launching USDT, BTC and USDC savings accounts, we’re thrilled to meet client demand once again with the launch of a TUSD savings account. You can earn interest on any of these options right now.
So go to YouHodler.com, sign up, deposit and enjoy your life as an active hodler who can crypto earn faster. Also, stay tuned for more exciting stablecoin news coming soon!