How Is It Used for Sport Betting?
TUSD can be used to bet and gamble just like any other crypto on sports betting sites. From the ERC-20 compatible Trueusd wallet in which you have stored your stablecoins, you can initiate a deposit to move the coins to your betting balance. You will have to put as the recipient address the one stipulated by the betting on their site.
In order to withdraw, provide your external address where you want your betting earnings to be moved and wait for the bookmaker to confirm your withdrawal request. The transactions are executed over the Ethereum network from public address to public address.
There are probably under a dozen betting sites that support TUSD as a payment option. The most common places where you will find TrueUSD listed is most likely on crypto-only bookies where there aren’t any fiat options. In crypto bookmakers rating you will find best crypto-only bookies.
Is It Safe to Use for Betting?
In terms of regulations and transparency, TUSD is verified and backed by the proper security firms and authorities. Moreover, TrueUSD is actually much better viewed in the crypto community than Tether, which is plagued with a lot of doubt and controversy.
It is worth mentioning that TUSD is completely centralized crypto, which means that if TrustToken believes you have broken their terms and conditions or any laws or regulations, they could freeze your account or even confiscate your tokens. For example, if you opt to play online with TUSD in a jurisdiction where it is illegal to gamble online with cryptos, then the company behind TUSD is able to track and see where the coin has been used and block the funds in your TUSD wallet. But suppose you are playing in a country where crypto sports betting is either in a grey area or allowed, there should be no problems betting with TrueUSD. Most crypto sites implement a provably fair policy as a mechanism for generating randomness of game results.
How and Where to Get It? Where to Buy?
TUSD can be bought on TUSD exchanges, including Binance, Bittrex, Huobi, HitBTC, Gate.io, OKEx, Bithumb, and many others. As it is based on the ERC20 protocol, there are plenty of wallets that support the coin. TrueUSD is traded against big and small capped coins, with a propensity for BTC, ETH, and USDT pairs. Even though there are not many fiat options, 8 exchanges support the conversion of TUSD into USD, namely Bitfinex, Bittrex, Exrates, Sistemkoin, AlterDice, Crex24, COSS, and OKCoin. There is only one KRW pair on Cashierest.
You will need first to create an account on an TUSD exchange that supports your desired pair (tusd to btc, tusd to eth and etc). Then, you will have to pass a KYC procedure, whether you buy the TUSD from TrustToken’s website or other platforms. Transfer how much cryptos you want to use for buying the coins and confirm your buy order. You will then have to wait for the coins to be deposited into your true usd wallet.