Buy HUSD
What is HUSD?
HUSD is a fiat-collateralized stablecoin designed to maintain a 1:1 peg with the US dollar. It is issued by Stable Universal and is backed by US dollars held in US bank accounts. The tokens are secured by Paxos Trust Company, and it operates on multiple blockchain networks, including Ethereum (ERC-20), HECO, and TRC-20.
How does HUSD work?
HUSD functions as a stablecoin backed by the US dollar on a 1:1 basis, meaning each HUSD in circulation is supported by an equivalent US dollar in reserve. This backing ensures that the value of HUSD remains stable in relation to the US dollar. The stablecoin is integrated with Ethereum-based applications and facilitates transactions through ERC-20 smart contracts. Regular attestations by a top US auditing firm confirm its reserves, ensuring transparency and reliability.
What are the potential use cases for HUSD?
HUSD is useful for various purposes, including:
- Payment for Goods and Services: Offering a stable digital currency for everyday transactions.
- Trading and Investment: Providing stability in volatile markets for traders and investors.
- Interoperability: Facilitating transactions within Ethereum-based ecosystems.
- Redemption for Fiat Currency: Allowing users to convert digital assets back into fiat.
- Cross-border Transactions: Enabling quick and cost-effective international transfers.
What is the history of HUSD?
HUSD was launched in October 2018 as an integrated solution for multiple stablecoins on Huobi Global. It transitioned to an independent USD-pegged stablecoin in July 2019, issued by Stable Universal with the Paxos Trust Company as its custodian. A notable incident occurred in August 2022 when HUSD temporarily lost its peg to the US dollar, which was later restored. Throughout its history, HUSD has evolved from a multi-stablecoin basket to a standalone stablecoin, aiming for broad adoption and integration across various platforms.
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Frequently Asked Questions (FAQs)
What is the current price of HUSD (HUSD)?
The HUSD price is $0.05732422 AUD, representing a +7.54% from the day prior.
Where is the best place to buy HUSD (HUSD) in Australia?
The best place to buy HUSD (HUSD) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell HUSD (HUSD) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of HUSD (HUSD)?
The trading volume of HUSD (HUSD) is $108 AUD in the last 24hrs, representing a +7.54% from the day prior.
How can I buy HUSD (HUSD)?
HUSD (HUSD) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of HUSD (HUSD)?
The current market cap of HUSD (HUSD) is $10.5M AUD.
Can I convert HUSD (HUSD) to cash?
Yes - With Coinstash you can convert your HUSD (HUSD) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many HUSD (HUSD) are there?
The current circulating supply of HUSD (HUSD) is 187.8M.
Is Coinstash a safe place to buy HUSD (HUSD) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling HUSD (HUSD) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.