- Read the project whitepaper and compare the concept
- Compare the social reach , project purpose , team , response from the market
- Compare Market capitalization, Liquidity and trading volume,Circulating supply ,Active addresses , Maximum supply, Transaction count etc.
Decide which coin will be the better currency form the selected two currencies. Support your decision with above facts
So in this post I will compare two stable coin that is tether or USDT and true USD or TUSD
Both are very crucial now a days for investing in cryptocurrency world and also very stable to reduce volatility.
So let's get started.
What is TUSD or true USD
TUSD better known as true USD is a fiat based cryptocurrency.. This means this is backed by a real world currency. Basically it is backed by USD or dollar and its value remain very close to this.
It was founded in 2018 by a company named trust token and at that time it was issued to only a limited number of investor this means this was not available to public. At that time investors were given 1 TUSD for every USD this means that time the ratio between TUSD and USD was 1:1. And still it is very close to this but not perfect in this ratio.
It is a ERC-20 coin and categoried as a stable coin.
Now to ensure security, TUSD is in partnership with many banks and security entity to secure the funds and to achieve this they have funds under them.
What is tether
Tether is better known as USDT now a days and this is also a fiat based cryptocurrency. And this is also backed by USD. This is also a very stable coin but as compared to TUSD it is less stable. It is subject to fluctuation every day and every hour but TUSD is not that fluctuating.
It was founded in 2014. And at that time it's value was also approximately equal to 1 USD.
Purpose of these projects
Purpose of these projects were similar as both have a purpose to reduce the risk of volatility in the cryptocurrency world. As we know that now a days more and more people are attracting to this market to trade, to earn profit. But still there is a class of people that doesn't want to take risk and don't want more profit, they just want to make their profit safe and on the other hand, people who uses this doesn't use their full money potential in this to make sure that their whole money is not in risk.
To ensure that people who are using the cryptocurrency but not with whole potential, can use their whole money and invest into this, and the other class who doesn't want profit and risk can invest their Savings and make it safe, these projects were started.
As the values of USDT and TUSD remain near the value of dollars, people can easily invest into these.
But the difference between both is that the value of TUSD is more stable than USDT as they have partnership with many banks to make it stable.
So in a nutshell we can say that :- the main purpose behind these both project are :- to increase safety, transparency and reduce the risk of volatility of the market and encourage people to invest into the cryptocurrency world
Ranking on coin market cap
On coin market cap, the ranking of TUSD and USDT is respectively 142 and 4. So as one can observe the USDT is more popular than TUSD on coin market cap because of its diurnal trade.
Market value, 24 hours low and high and Market cap
So in this section, we will discuss about the market value, market cap and 24 hours low and high of tether and TUSD
According to coin market cap,
- the value of TUSD now is 72.57 INR that is roughly equal to 1 USD.
- 24 hours low and high is 72.45 and 72.74 INR.
- 24 hours trade valume is 5181648728.51 INR
- Market dominance is 0.02%
Graph of value in INR and USD
so you can see it's value in INR is perfectly equal to 1 USD
Tether or USDT
- Value of USDT in INR and USD is 72.48 and perfect 1 USD
- 24 hours low and high is 0.9999 and 1 USD
- 24 hours market cap $73,367,465,002.40
Graph of value in INR and USD
Sources:- coin market cap
social reach and availability on social media
As we know that now a days, best way to reach a larger part of people is to reach them through the social media. Instagram, telegram, twitter are one of the social giant. So let's compare the two on these social media
On instagram, I couldn't find the blue tick account of any of the cryptocurrency. But I tried to open account normally and I found that on instagram, any of the account are not that active( if these are true). I couldn't say firmly.
On twitter, I couldn't find any blue tick on the account, but u can firmly say, these are the official account.
So on twitter, the account of USDT is more active and followed by more
We can say that both coin are very stable and fiat based coin. And the value of both remain close to 1 USD.
And as TUSD is a new coin than tether still it is doing good. And both are doing really good.
But I will choose TUSD as it is a relatively new coin and j think there is a lot of potential in this coin.
So that is all in this post.
Thank you @besticofinder for this amazing homework. I enjoyed it very much.