What is the Gemini Dollar?
Gemini Dollars, commonly abbreviated to GUSD, is a stablecoin cryptocurrency issued by Gemini, one of the United State’s largest cryptocurrency exchanges.
What is a stable coin?
A stablecoin is a cryptocurrency (similar to Bitcoin) that is pegged in value to a government issue currency. This means that the stablecoin’s value will always be equal to that of the fiat currency.
In the case of the Gemini Dollar, GUSD is pegged to the United States Dollar in a ratio of 1:1. Therefore, a GUSD is equal in value to $1 USD.
Other examples of stablecoins include USDT and USDTe (the Avalanche version of USDT)
Why should I use GUSD?
GUSD is a great option for those looking to utilize the advantages of cryptocurrencies such as fast transaction speeds, low transaction costs, & total ownership of your money while reducing volatility in their assets.
Where can I use GUSD?
GUSD is also used on the Gemini exchange to buy and sell other cryptocurrencies without having to convert your cryptocurrencies to USD.
In addition to Gemini’s exchange, there are tons of mobile cryptocurrency wallets that allow users to store and transact in GUSD.
Here are some:
Where can I buy the Gemini Dollar?
The most popular place to buy GUSD is on the Gemini exchange. Many of the mobile wallets listed above also allow you to exchange other cryptocurrencies like Bitcoin, Ethereum, and Litecoin into GUSD for low fees.
Where can I find more information about GUSD?
The best place to find more information about the Gemini Dollar is through its issuer, Gemini.