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How to buy HUSD (HUSD) in the US
A beginner's guide to buying and selling HUSD in the US.
How to buy HUSD
Look for an exchange that supports both fiat and cryptocurrency to simplify buying HUSD.
- Open an account on an exchange that supports HUSD.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy HUSD.
- Buy HUSD.
Complete your HUSD purchase and then find the best wallet to store HUSD.
What is HUSD?
Launched in 2018 by the Huobi global exchange, HUSD was originally designed as an aggregate stablecoin that offered access to Paxos Standard (PAX), USD Coin (USDC), True USD (TUSD) and Gemini USD (GUSD) on the Huobi exchange. According to Messari, in 2019 a Huobi-backed startup, called Stable Universe, decided to launch HUSD as a standalone stablecoin utilising the ERC-20 (Ethereum-based) token standard. Like all other stablecoins, it offers a way to reduce price volatility while trading in the cryptocurrency markets. The token is backed 1:1 by physical US dollars held by Paxos trust company, who are regulated by the New York State Department of Financial Services (NYDFS). To ensure all tokens are backed 1:1 by reserves, monthly audits are completed by an independent US audit firm, Grant Thornton. Alongside avoiding price volatility, HUSD can be used for the payment of goods and services.
HUSD (HUSD) is the 219th largest cryptocurrency in the world by market cap, valued at $332,940,761. The current price of HUSD is $1.02, which is 0.922% higher than yesterday. Prices have ranged between $1.02 and $0.98686 over the past 24 hours. All prices are listed in US dollars and accurate as of October 25, 2021 12:10 UTC.
Where to buy HUSD
Find an exchange to buy, sell and trade HUSD by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
HUSD at a glance
|Total HUSD supply||327,479,997|
|All time high||US$1.25|
HUSD price performance over time
How to sell HUSD
You can cash out your HUSD with the same exchange you bought it through:
- Sign in to the exchange you have HUSD on.
If you store your HUSD in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of HUSD you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of HUSD.
What to consider when buying HUSDWhile stablecoins are usually considered safer cryptocurrency assets due to the peg with fiat currencies, they are not risk-free. Here are some factors every investor should consider before purchasing HUSD:
- Regulation. The Paxos trust company is regulated by one of the most critical regulatory bodies, the NYDFS. Approval by the NYDFS adds credibility to the token and the associated platform.
- Supply control: Stable Universal, a startup backed by Huobi Capital, is the only entity that can decide the supply of HUSD tokens in circulation. The supply for HUSD expands and reduces based upon demand. There is no cap on the total number of tokens.
- Centralisation: Since Stable Universal is in complete control of the token supply, it adds a certain degree of centralisation to the token’s operations. Centralised projects are often frowned upon by purists in the cryptocurrency community.
- Audits: Stable Universal publishes monthly audit reports. This ensures that the supply declared by Stable is accurate and can be backed by USD held as collateral.
- Competition: HUSD is not the only USD stablecoin available in the crypto market. There are other stablecoins like Tether (USDT), USD Coin (USDC) and Binance USD (BUSD). All of these are still pegged to USD and are used by significantly more people. Wider use means higher liquidity in the market. This may leave HUSD struggling against the competition.
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Disclaimer: Cryptocurrencies, including HUSD, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of HUSD is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the HUSD or any other cryptocurrency discussed.
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