What is the current price of USDD (USDD)?

The current price of USDD (USDD) is 1.5576428415359374 AUD, representing a +0.15 from the day prior.

Can I buy USDD (USDD) on Coinstash?

Yes - you can easily buy and sell USDD (USDD) on Coinstash. Simply login or sign up, to start buying USDD (USDD) in minutes.

Where is the best place to buy USDD (USDD) in Australia?

The best place to buy USDD (USDD) 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 USDD (USDD) 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 USDD (USDD)?

The trading volume of USDD (USDD) is 28.1M AUD in the last 24hrs, representing a +0.15 from the day prior.

How can I buy USDD (USDD)?

USDD (USDD) 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 USDD (USDD)?

The current market cap of USDD (USDD) is 590.3M AUD.

Can I convert USDD (USDD) to cash?

Yes - With Coinstash you can convert your USDD (USDD) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.

How many USDD (USDD) are there?

The current circulating supply of USDD (USDD) is 379.3M.

Is Coinstash a safe place to buy USDD (USDD) in Australia?

Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling USDD (USDD) 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 here.

Buy USDD

What is USDD?

USDD is a decentralized stablecoin pegged to the US dollar at a 1:1 ratio. It is designed to provide a stable value for a variety of financial transactions and operates on multiple blockchains, including TRON, Ethereum, BNB Chain, and others.

How does USDD work?

USDD functions by maintaining stability through over-collateralization and specific mechanisms. It is backed by a diversified pool of digital assets like TRX, BTC, and USDC, with a minimum collateral ratio of 120%. The Peg Stability Module (PSM) allows for swaps of USDD with other stablecoins at a 1:1 rate, helping maintain its value. The TRON DAO Reserve manages USDD, and it operates with a mint-and-burn mechanism to sustain its dollar peg.

What are the potential use cases for USDD?

USDD is utilized in multiple scenarios:

DeFi Applications: As a stable asset for lending, borrowing, yield farming, and liquidity provision.
Trading and Hedging: Offers a stable trading pair and helps hedge against volatility.
Cross-Border Transactions: Facilitates fast, cost-effective international payments.
Real-World Payments: Accepted by some merchants as a payment method.
Potential Industries: Useful for treasury payments, emerging markets, and potentially within IoT for micro-payments.

What is the history of USDD?

USDD was launched by the TRON DAO Reserve in May 2022, spearheaded by Justin Sun, the founder of TRON. Initially announced in April 2022, USDD aims to offer a decentralized stablecoin option and has since expanded its presence across various blockchains. It was declared legal tender in the Commonwealth of Dominica in October 2022. The stablecoin employs technologies such as over-collateralization and a mint-and-burn mechanism to maintain its peg to the US dollar. However, it faces challenges like regulatory uncertainties and competition from established stablecoins for broader market adoption.