HUSD (the name combines Huobi and USD) is a secure, reliable, and fiat-collateralized stablecoin, which aims to combine the stability of the US dollar with the efficiency of blockchain technology.
HUSD tokens are issued on the Ethereum network, with high degrees of decentralization and security, and are backed at a 1:1 ratio by US dollars held in US bank accounts.
Check the HUSD current price, market cap rank, circulating supply, trading volume, historical prices, etc., along with in-depth information on several of the biggest and fastest-growing cryptocurrencies on CoinStats, one of the best crypto platforms around.
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The top cryptocurrency exchanges that support HUSD trading are currently Gate.io, Hoo, Hotbit, and MDEX.
Read on for our ultimate guide on HUSD and learn how to buy it in a few simple steps.
Let's jump right in!
What Is HUSD
HUSD is a reliable and secure stablecoin, collateralized against the US Dollar - the HUSD price equals 1.000 USD. It brings together the efficiency of blockchain technology with the stability of the US Dollar. The HUSD token was designed for price stability and provides a tool for holders to reduce volatility when trading in the crypto market. To make the coin easily accepted by global markets, the HUSD development team focused on three essential components - security, liquidity, and convenience.
Launched in 2018 as a comprehensive solution of Stable Universal Limited, Paxos Trust Company, and the Huobi global exchange, HUSD was initially designed as an aggregate stablecoin based on Paxos Standard (PAX), USD Coin (USDC), True USD (TUSD), and Gemini USD (GUSD) on the Huobi exchange.
Every US Dollar supporting each HUSD stablecoin is held in reserve by the Paxos Trust Company, and an independent US audit firm carries out monthly audits, ensuring that the supplies of HUSD are matched with the reserves of the USD. Moreover, Stable Universal publishes reports that prove the existence of the dollar reserves, which keep the tokens in circulation. Stable Universal attracts skilled developers to provide the safest and most reliable services to users. It's the only entity that can decide the supply of HUSD tokens in circulation, expanding and reducing based upon demand.
HUSD transactions rely on the Ethereum blockchain network and follow instructions pre-given by ERC-20 smart contracts. This aspect eliminates the need for third parties. Furthermore, it's very easy to trade HUSD because it's supported by a vast number of exchanges and Ethereum wallets.
How to Buy HUSD From Exchanges (Like Binance)
Follow our step-by-step guide below for your HUSD purchase on Binance:
- New users need to register an account on Binance, the largest exchange in the cryptocurrency market by trading volume. Joining will only take a few minutes!
- Deposit Bitcoin (BTC) or Ethereum (ETH) into your account. Binance does not allow users to purchase HUSD directly, so you need to buy other cryptocurrency coins first.
- Place a direct order to purchase HUSD.
- Get a wallet to store HUSD!
You can also trade on dozens of other exchanges, including Gate.io, MDEX, Huobi Global, Hotbit, Hoo, 0x, Pionex, Tokenlon, NUT MONEY, BitPanda, BHEX, etc. Most exchanges will need some personal information like email address, phone number, name, address, and a copy of your government ID or passport to let you start trading HUSD on their platforms. The most popular among trading pairs is HUSD/USDT on Huobi Global, where it has a trading volume of $ 43.91M. The platform has a quick, straightforward login, and you can easily purchase and redeem HUSD tokens from your HUSD account.
How to Buy HUSD Using Credit Cards
Unfortunately, buying HUSD with a credit card directly is currently not possible. The simplest way is to buy another cryptocurrency, such as BTC or ETH on a platform that accepts credit cards to later exchange it for the HUSD token on an exchange that supports HUSD. The best platform for buying cryptocurrencies with a credit card is Coinbase. You can also buy popular cryptocurrencies with a credit card on Coinmama.
Buy HUSD Using Wire Transfer
Many platforms accept deposits made through wire transfer. In addition, exchanges hardly charge commissions on transfers. The disadvantage is that you will usually have to wait between 1-2 days to complete your transaction.
Some of the platforms where you can buy HUSD via bank transfer are:
- Coinbase: The U.S. exchange enables payment by bank transfer with a 1% commission fee. However, it doesn't let you purchase HUSD directly. So, you will have to acquire a more accessible currency, such as BTC or ETH, and transfer it to an exchange that supports HUSD, such as Binance.
- BitINKA: Like Coinbase, BitINKA doesn't support HUSD. But free deposits ensure that Latin American residents buy Bitcoin or Ethereum via wire, send them across the web to Binance, and purchase HUSD there.
- Coinmama: The international exchange allows users to buy up to $150 worth of crypto daily without registration. However, it doesn't support HUSD. You'll need to buy a popular cryptocurrency, such as BTC, ETH, or XRP and transfer it to an exchange that supports HUSD.
Is It Possible to Buy HUSD in Cash
No. Currently, HUSD is not available for purchase with fiat currencies on any of the supported exchanges. However, you can buy Bitcoin or any other crypto asset with fiat currency and then convert it to HUSD.
Disclaimer: The information contained on this website is provided to you solely for informational purposes and do not constitute a recommendation by CoinStats to buy, sell, or hold any security, financial product, or instrument mentioned in the content, nor does it constitute investment advice, financial advice, trading advice, or any other type of advice.
Cryptocurrencies are speculative, complex, and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable, and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice before relying on this information. Cryptocurrency is a highly volatile market, do your independent research and 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. Performance is unpredictable, and the past performance of HUSD is no guarantee of future performance.
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