What is GUSD and how does it relate to the world of cryptocurrency?

3 answers

• Aakash SandalMar 23, 2024 · 2 years ago
  GUSD stands for Gemini Dollar, which is a stablecoin issued by the Gemini cryptocurrency exchange. It is pegged to the value of the US dollar, meaning that 1 GUSD is always equal to 1 USD. This stability makes it a reliable store of value and a useful medium of exchange within the cryptocurrency ecosystem. Compared to other cryptocurrencies, GUSD offers the advantage of price stability, which can be appealing to users who want to avoid the volatility often associated with other digital assets. Additionally, GUSD is regulated and audited, providing users with a higher level of transparency and trust.
  606

  303
• Riyaz MohammedMay 28, 2023 · 2 years ago
  GUSD, or Gemini Dollar, is a type of cryptocurrency known as a stablecoin. It is backed by USD reserves held by Gemini Trust Company, a regulated cryptocurrency exchange. The purpose of GUSD is to provide a digital representation of the US dollar, allowing users to easily transfer and transact with a stable value. This can be particularly useful for traders who want to hedge against the volatility of other cryptocurrencies or for individuals who want to hold a digital asset with a stable value. GUSD can be used on various platforms and exchanges that support its trading and usage.
  587

  196
• CLRBLND_99Jul 22, 2020 · 5 years ago
  GUSD, also known as Gemini Dollar, is a stablecoin that is issued by the Gemini cryptocurrency exchange. As a stablecoin, GUSD is designed to maintain a stable value by being pegged to the US dollar. This means that the value of 1 GUSD is always equal to 1 USD. GUSD can be used for various purposes within the cryptocurrency world, such as facilitating fast and low-cost transactions, acting as a hedge against market volatility, and providing a stable unit of account for businesses and individuals. Other popular stablecoins include USDT, USDC, and BUSD.
  557

  140