HUSD (HUSD) price, marketcap, chart, and info - Crypto.co

In order to understand HUSD as a cryptocurrency, you need to understand the concept of stablecoin. A stablecoin when it comes to cryptocurrencies is a digital currency that attempts to maintain price stability and are backed with real-world assets. These assets might be a specific currency, such as the U.S. Dollar, or it could be a commodity such as gold. If you've ever watched the volatility of Bitcoin or other cryptocurrencies, you know that this volatility turns many investors off. With a stablecoin option, the goal is to reduce this volatility and provide a more stable digital currency to entice reluctant investors to dip their toes into the water. HUSD is one of several stablecoin options.

What Sets HUSD Apart

HUSD was originally developed to help centralize four other cryptocurrencies that were being traded on the Huobi Global exchange. These four cryptocurrencies were themselves stablecoins, but it was felt that a combined single cryptocurrency would be a better option. Unfortunately, this attempt didn't work out well as users did not like the fact that the pricing wasn't transparent, and after several months the idea was scrapped.

Several months later, a new startup called Stable Universal released a new HUSD cryptocurrency that had the transparency that was being sought by users, and eventually, the four cryptocurrencies were folded into the new HUSD coin. This cryptocurrency maintains a 1:1 ratio with the U.S. Dollar, and it will always be this way as anytime HUSD is added or removed from the ecosystem, an equivalent amount of U.S. Dollars are added or removed from the asset account that backs the HUSD cryptocurrency. With this real-world asset-backed cryptocurrency, you can still buy goods and services with HUSD coin, but you will have the built-in safety feature of being able to withdraw funds in U.S. Dollars without losing any value. This will help to bring in more people to the world of cryptocurrencies and get people used to them.

Looking to learn more about stablecoins? Crypto.co has the latest regarding stablecoins and regulations