On April 21st, according to Kaiko’s latest report, BTC-TUSD has become the largest Bitcoin trading pair driven by Coin Security, and TrueUSD stable currency is a type of token that was not known until this year. On March 22nd, Coin cancelled the zero fee Bitcoin trading promotion, except for Bitcoin TrueUSD, which stimulated demand for BTC-TUSD. BTC-TUSD now accounts for 50% of the total transaction volume of BTC on Coin Security, compared to almost 0% just a month ago when this number was announced.

Report: BTC-TUSD has become the largest Bitcoin trading pair driven by Coin Security

Introduction

The rise in the use of cryptocurrency over the last few years has been phenomenal. While Bitcoin is the most popular, there are other stable coins such as TrueUSD which are now gaining popularity. One of the platforms that have seen an increase in BTC-TUSD trading pairs is Coin Security. In this article, we will take an in-depth look at BTC-TUSD, what it is, and how it works, benefits and challenges associated with using it.

Overview

The report published by Kaiko in April 21st showed that BTC-TUSD has become the most significant Bitcoin trading pair on Coin Security. The growth is attributed to the increased use of TrueUSD stable currency, which was not known until this year. On March 22nd, Coin canceled their zero-fee Bitcoin trading promotion, which stimulated demand for BTC-TUSD.

What is BTC-TUSD?

BTC-TUSD is the trading pair that enables the exchange of Bitcoin (BTC) and TrueUSD (TUSD). TrueUSD is a stable currency that has a value that is equivalent to the US dollar. BTC-TUSD makes it possible for traders to buy or sell BTC using TUSD at real-time prices.

What is TrueUSD?

TrueUSD (TUSD) is a blockchain-based stable coin whose value is equivalent to the US dollar. It is designed to provide users with secure and transparent cryptocurrency trading experience. It is pegged to the value of the US dollar, and its users can leverage its value to trade various cryptocurrencies.

How BTC-TUSD Works

To start trading on Coin Security using BTC-TUSD, a user must first have an account with the platform. Once you have created an account, ensure that it is verified. Verify the account by providing personal details and adhering to the Know Your Customer (KYC) procedures.
After verification, you can proceed to deposit either TUSD or BTC to your Coin Security wallet. To deposit BTC, click on the Deposit button on the exchange menu and select BTC. You will be provided with a unique wallet address that you will use to deposit funds into your account.
To deposit TUSD, you will follow a similar process. Click on the Deposit button and select TUSD. You will be given a unique wallet address that you will use to deposit TUSD to your account.
Once you have deposited funds to your account, proceed to the trade menu, and select BTC-TUSD trading pair. You can choose to buy or sell BTC depending on the market movements. Place your order, and once it is processed, your account will be credited with either BTC or TUSD.

Benefits of BTC-TUSD

Liquidity

BTC-TUSD provides users with liquidity advantages. They can buy or sell BTC quickly on Coin Security, giving them more trading opportunities that they can take advantage of.

Transparency

Coin Security is transparent about its fees and pricing model, which is an essential factor when trading cryptocurrencies. The platform does not charge any hidden fees, which means that users can trade BTC-TUSD without worrying about hidden transaction fees.

Stability

TUSD is a stable cryptocurrency, which means users can trade with confidence. Its value is tied to that of the US dollar, and its users don’t have to worry about price fluctuations that are associated with cryptocurrencies such as BTC.

Challenges of using BTC-TUSD

Limited trading options

Coin Security only provides users with the BTC-TUSD trading pair. This limited trading option makes it challenging for cryptocurrency traders who wish to trade BTC with other cryptocurrencies.

Dependence on TUSD stable coin.

BTC-TUSD is solely dependent on TUSD stable coin. In case of a market downturn, TUSD’s value would decrease, and this would negatively affect the value of BTC-TUSD trading pair.

Conclusion

BTC-TUSD is one of the emerging trading pairs that provide cryptocurrency traders with more trading opportunities. It has gained popularity on Coin Security, where it has become the largest Bitcoin trading pair. The use of TrueUSD stable currency has played a significant role in the growth of BTC-TUSD on Coin Security. Even though it has advantages, there are still challenges associated with using it.

FAQs

Q1. Is BTC-TUSD available on other trading platforms?

BTC-TUSD is available on various trading platforms, including Binance and Finexbox.

Q2. How can I buy TUSD stable coin?

You can buy TUSD stable coin through various exchanges such as Binance, Bitfinex, and Digifinex.

Q3. Can I use BTC-TUSD to buy goods and services?

No, you cannot use BTC-TUSD to purchase goods and services. It is primarily used for trading purposes.

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