$ 0.00 USD
$ 0.00 USD
$ 0.00 0.00 USD
$ 0.00 USD
$ 0.00 USD
$ 0.00 USD
$ 0.00 USD
$ 0.00 USD
0.00 0.00 GUSDT
Issue Time
2021-01-01
Platform pertained to
--
Current price
0.00
Market Cap
$0.00USD
Volume of Transaction
24h
$0.00USD
Circulating supply
0.00GUSDT
Volume of Transaction
7d
$0.00USD
Change
24h
0.00%
Number of Markets
Current Rate0
0.00USD
WikiBit has marked the token as air coin project for we have received overwhelming complaints that this token is a Ponzi Scheme. Please be aware of the risk!
3H
0.00%
1D
0.00%
1W
0.00%
1M
0.00%
1Y
0.00%
All
0.00%
Aspect | Information |
---|---|
Short Name | GUSDT |
Full Name | Global USD Token |
Support exchanges | Binance, Huobi, KuCoin, Gate.io |
Storage wallet | Compatible with any ERC-20 wallet |
Global USD Token (GUSDT) is a type of cryptocurrency that is designed on the Ethereum Blockchain's ERC-20 protocol. The unique feature of GUSDT is its attribute to be pegged to the U.S. Dollar, meaning each GUSDT token aims to have the equivalent value of one USD. This pegging system is often referred to as a “stablecoin,” indicating that the cryptocurrency is designed to reduce price volatility by mimicking the value of a stable asset, in this case, the U.S. Dollar. Being ERC-20 based, GUSDT users can enjoy its compatibility with wallets and exchanges that support the Ethereum ecosystem. As with any cryptocurrency, its important for potential users to thoroughly understand the platform, its functionality, and its potential risks before investing.
Pros | Cons |
---|---|
Stability since it is pegged to the U.S. Dollar | Dependent on U.S. Dollars stability |
Compatible with any ERC-20 wallet | The risk of loss if private keys are misplaced |
Can be used in the Ethereum ecosystem | Subject to Ethereum network congestion and gas fees |
Reduced volatility due to “stablecoin” status | Not immune to regulatory scrutiny |
Pros:
1. Stability: Being pegged to the U.S. Dollar, GUSDT offers a level of stability that isn't always present in other cryptocurrencies. This can make it a suitable option for individuals looking for less risky crypto investments.
2. Compatibility: GUSDT is built on the Ethereum ecosystem's ERC-20 protocol, which means it can be efficiently stored in any ERC-20-compatible wallet. This provides a broad range of storage options for its holders.
3. Usability: As it is built on Ethereum's blockchain, GUSDT can be utilized on any platform that recognizes Ethereum's tokens. This can offer its users a level of flexibility and access to a vast range of Ethereum-based decentralized applications.
4. Reduced Volatility: GUSDT's classification as a “stablecoin” means it is designed to have its value mirror that of a stable asset, which can help reduce price volatility compared to other cryptocurrencies.
Cons:
1. Dependence on U.S. Dollars Stability: While the value of GUSDT is stabilized by being pegged to the U.S. Dollar, it also means its value is dependent on the USD's economic performance. Any instability in the U.S. economy could potentially impact the value of GUSDT.
2. Risk of Loss: Like any digital asset, if the private keys of a wallet containing GUSDT are lost, the tokens are potentially unrecoverable. This can present a high risk of loss for the holders of GUSDT.
3. Ethereum Network Congestion: Being an ERC-20 token, GUSDT transactions are processed through the Ethereum network. If the network becomes congested, transactions involving GUSDT can experience delays or require higher gas fees.
4. Regulatory Scrutiny: Despite its stablecoin status, like all cryptocurrencies, GUSDT is not immune to potential future regulations put forth by governing bodies. This uncertainty represents a potential risk for current and future users.
Global USD Token (GUSDT) is innovative in a sense that it takes advantage of the security and versatility offered by the Ethereum Blockchain, while simultaneously striving to reduce volatility, a common concern with standard cryptocurrencies. Operating on the ERC-20 protocol allows the GUSDT to have wider interoperability within the Ethereum ecosystem, making it compatible with a range of wallets and platforms which support Ethereum's tokens.
The distinguishing feature of GUSDT which separates it from many other cryptocurrencies is its characteristic as a stablecoin. Unlike traditional cryptocurrencies, which can experience drastic price fluctuations, GUSDT is pegged to the value of the U.S. Dollar. This means that it aims to maintain a value equivalent to USD, thus ensuring a level of price stability which is typically unheard of in the crypto world.
However, it's important to note that while this pegging mechanism can mitigate the issue of price volatility, it also ties the GUSDT's fate to the strength and stability of the U.S. Dollar. This feature differentiates it from purely decentralized cryptocurrencies where the value is derived independently of any physical asset.
GUSDT thus presents itself as a unique blend of traditional and digital currencies, leveraging the strengths of both while attempting to minimize the disadvantages. As with all financial instruments, these features do not guarantee success or safety and potential users should always conduct thorough research before investing.
Global USD Token (GUSDT) is based on the Ethereum blockchain and operates under the ERC-20 protocol, a common standard for Ethereum tokens. Its working mode and principle are fundamentally aligned with the designs of most stablecoins in the market.
As part of its working mode, GUSDT is pegged on a 1:1 ratio to the U.S. Dollar. The fundamental principle behind this is that for every free floating token in circulation, there should be one U.S. Dollar held in reserve by the token's custodian. This principle of asset-backed security is designed to maintain the token's value and assure its investors of the token's stability.
GUSDT's operations involve a few key stages. First, when a buyer purchases GUSDT with their fiat currency, the equivalent amount of U.S. Dollars (USD) is locked in reserve. The newly minted GUSDT then circulates freely on the Ethereum network and can be traded, sent, and received like any other ERC-20 token.
If a GUSDT holder wants to redeem their tokens for USD, the tokens are destroyed or “burned”, and the equivalent USD is released from the reserves. The stability of GUSDT's value is potentially maintained through such a continuous cycle of minting and burning of tokens corresponding to buying and redeeming actions.
That said, it's important to note that because GUSDT operates on the Ethereum network, the standard Ethereum transaction fees (gas fees) apply, and the transaction speed is dependent on the network's congestion at any given time.
According to CoinMarketCap, the circulating supply of Global USD Token (GUSDT) is 0 as of October 22, 2023. This means that there are currently no GUSDT tokens in circulation.
Price fluctuation
According to CoinGecko, the price of GUSDT has been fluctuating wildly since its launch. The price reached an all-time high of $0.009277 on May 18, 2022, but has since fallen to $0.00000001 on October 22, 2023.
There are several exchanges where you can buy the Global USD Token (GUSDT). Some of these include:
1. Binance: As the world's largest cryptocurrency exchange, Binance offers a wide variety of cryptocurrencies for trading including GUSDT.
2. Huobi: This is a leading global blockchain-based asset financial services provider where GUSDT can be purchased.
3. KuCoin: Known as 'The People's Exchange, KuCoin provides a simple and safe platform for users to exchange GUSDT and other cryptocurrencies globally.
4. Gate.io: As a trading platform that offers a variety of features including spot trading and derivatives for a number of digital assets, Gate.io also lists GUSDT.
Please ensure to do your research and due diligence before investing in any cryptocurrency. Also, keep in mind that the availability of GUSDT on these platforms can change and it is always a good idea to check the official website of the cryptocurrency for an updated list of supported exchanges.
Global USD Token (GUSDT), as an ERC-20 token, can be stored in any wallet that supports ERC-20 tokens. ERC-20 is a common protocol used by many tokens on the Ethereum network, which makes a wide variety of wallets compatible with GUSDT.
1. Hardware Wallets:These are physical devices like Trezor and Ledger. They provide a high level of security as they store the user's private keys offline, so are immune to online threats like hacking and phishing attacks. However, they can be more difficult to set up and use than their software counterparts and they can be expensive.
2. Software Wallets: These wallets run on applications and can be easily installed on your smartphone or desktop. Wallets like Metamask, MyEtherWallet, and Trust Wallet fall in this category.
3. Web Wallets: These are accessible through web browsers. While convenient, they typically have lower security than hardware or software wallets because they are often tied to online platforms and are therefore susceptible to online threats.
4. Mobile Wallets: These are applications on your phone and are easy to use. They allow for quick transactions and constant access to your cryptocurrency.
Remember, when choosing a wallet, you should consider the trade-off between convenience and security. Hardware wallets are typically considered the most secure but are less convenient for regular trading or purchasing. By contrast, software or web wallets are good for regular use but can be more prone to threats. Always make sure to keep software up to date, use strong, unique passwords, and consider enabling additional security features such as two-factor authentication.
The Global USD Token (GUSDT) may be suitable for individuals who are interested in the cryptocurrency market but wish to avoid the high volatility often experienced with other cryptocurrencies such as Bitcoin and Ethereum. Because GUSDT is pegged to the value of the U.S. Dollar, it typically experiences less price fluctuation, making it potentially more suitable for conservative investors.
However, potential buyers should still consider the following factors:
1. Understanding of Cryptocurrency: Even as a stablecoin, the purchase and trading of GUSDT are conducted using blockchain technology and require digital wallets and potentially exchange platforms. Those considering buying should have a solid understanding of these systems and be comfortable using them.
2. Risk Appetite: While GUSDT aims at stability by being pegged to the USD, it is still subject to potential risks such as regulatory changes affecting cryptocurrencies, potential issues with the issuer's reserve holding, and fluctuations in the value of the USD.
3. Fidelity to Original Currency: By design, GUSDT should maintain a 1-to-1 value ratio with the USD. If stability is the goal, the need for a USD-pegged cryptocurrency versus simply holding USD should be carefully considered.
4. Access to Crypto Platforms: Making use of GUSDT would require access to platforms which support transactions involving Ethereum or ERC-20 based tokens. Accessibility and understanding of these platforms are essential.
5. Security Considerations: Related to the above, understanding how to securely manage and store digital assets is critical. The measures include secure management of digital wallets, vigilance against phishing attempts, and awareness of the unique risk factors associated with cryptocurrencies.
As with any investment, it would be wise to thoroughly research and consider the potential risks associated with GUSDT before purchasing. A financial advisor can provide guidance tailored to an individual's specific circumstances and goals.
The Global USD Token (GUSDT) is a stablecoin operating on the Ethereum network's ERC-20 protocol, meaning it is designed to hold a value equivalent to one U.S. Dollar. This pegging to the USD differentiates it from most cryptocurrencies, which are often subject to significant price volatility. The GUSDT's distinguishing characteristic presents certain unique opportunities, but also potential challenges that are essential for potential investors to understand.
In terms of development prospects, GUSDT's stability and compatibility with the Ethereum ecosystem could potentially make it an attractive option for both individuals and businesses seeking the benefits of blockchain and cryptocurrencies, without the extreme price fluctuations. Furthermore, it might find usage within Ethereum's wide array of decentralized applications, allowing it to progress and evolve along with the broader Ethereum ecosystem.
On the potential of GUSDT for financial gains, it's important to note that, as a stablecoin, its value is designed to remain consistent with the value of the U.S. Dollar, thereby minimizing volatility. Therefore, traditional forms of appreciation that occur with other cryptocurrencies due to market demand and supply changes are unlikely to be experienced with GUSDT at the same level.
However, GUSDT could potentially be used to protect against volatility in other cryptocurrencies, participate in decentralized finance (DeFi) yields, or to move money across the crypto ecosystem rapidly and potentially more cheaply than traditional remittance methods. Due to the pegging mechanism, the profit from holding GUSDT comes less from the token's appreciation and more from the benefits of using the token within the crypto ecosystem.
Q: What is the underlying technology for GUSDT?
A: GUSDT is built on the Ethereum blockchain following the ERC-20 protocol standards.
Q: How is the stability of GUSDT's value maintained?
A: GUSDT's value remains stable due to it being pegged on a 1:1 ratio to the U.S. Dollar.
Q: Can I store GUSDT in any crypto wallet?
A: You can store GUSDT in any wallet that supports ERC-20 tokens.
Q: Does GUSDT face the same level of volatility as other cryptocurrencies?
A: No, GUSDT is a stablecoin and it is designed to have less volatility due to its pegging to the U.S. Dollar.
Q: Can GUSDT be used on any platform in the Ethereum ecosystem?
A: Yes, as an ERC-20 token, GUSDT can operate within any platform that recognizes Ethereum's tokens.
Q: What risks are associated with holding GUSDT?
A: Risks of holding GUSDT include potential regulatory changes, possible issues with the issuer's reserve holdings, and fluctuations in the value of the USD it is pegged to.
Investing in cryptocurrencies requires an understanding of potential risks, including unstable prices, security threats, and regulatory shifts. Thorough research and professional guidance are advised for any such investment activities, recognizing these mentioned risks are just part of a wider risk environment.
3 ratings