Everything you need to know about $PYUSD

Current price: $ fetching data...

Contract Address: 2b1kV6DkPAnxd5ixfnxCpjxmKwqjjaYmCZfHsFu24GXo

Ticker: $PYUSD

Blockchain Network: Solana

Apr 11, 2024

What is $PYUSD?

$PYUSD, or PayPal USD, is a stablecoin launched by PayPal to maintain a value equivalent to $1, providing a reliable medium of exchange and store of value in the cryptocurrency ecosystem. It leverages blockchain technology for secure, transparent, and efficient transactions, appealing to those seeking stability without the volatility of traditional cryptocurrencies like Bitcoin or Ethereum.

PayPal USD integrates seamlessly into PayPal's platform, allowing users to buy, sell, hold, and transfer the stablecoin for various transactions, including payments and money transfers. Its compatibility with external wallets extends its usability across different platforms within the crypto space. Each $PYUSD token is backed by equivalent US Dollar reserves held in secure, audited accounts, ensuring the token's value and providing users with confidence in its stability.

The transparency of these reserves is maintained through regular audits, guaranteeing that the $PYUSD in circulation always matches the USD held in reserve. This stability and transparency make $PYUSD an attractive option for businesses and individuals in the digital economy, offering a level of trust and security essential for mainstream adoption.

$PYUSD's design ensures compliance with regulatory standards, enhancing its credibility and making it a trusted choice for users navigating the digital economy. Supported by PayPal's robust infrastructure and regulatory compliance, $PYUSD combines the benefits of blockchain technology with the stability of the US Dollar, making it a versatile and reliable digital asset.

This chart visualizes the current price of $PYUSD to the US dollar.

Here's a step by step guide on how you can buy $PYUSD.

Option 1: Download Tori Wallet.

Tori is the simplest self custodial mobile wallet that allows you to access crypto opportunities. Instead of buying crypto on a centralized crypto exchange (like Kraken, Coinbase, or Crypto.com), setting up a self custody wallet (like Phantom, Metamask, or Coinbase Wallet), and the 5+ other steps with accessing the world of crypto, Tori simplifies the entire experience into one simple app.

Step 1: Setup Your Account

With Tori, you'll have to do the following:

  1. Create your account with passkeys.

  2. Upload your ID to authenticate your account.

  3. Connect your bank account.

Tori Wallet is currently available on IOS and Google Play Store, but only limited to U.S residents at the moment.

Step 2: Deposit money into your trading wallet.

Once you've connected your bank account, you're able to deposit up to $50,000 USD with no fees.

It takes approximately 1-3 days for your money to settle. From there you can start accessing the world of crypto!

Step 3: Select $PYUSD to trade.

Once you have money in your trade balance, you can click trade.

Select $PYUSD.

*Token prices in the screenshots below are outdated*

Step 4: Buy $PYUSD.

Once you select $PYUSD, you can now swipe to confirm your purchase.

*Token prices in the screenshots below are outdated*

Step 5 (Optional): Sell $PYUSD whenever you want.

Whenever you're ready to sell, you can sell $PYUSD and get USDC, which you can withdraw right into your bank account.

*Token prices in the screenshots below are outdated*

Option 2: Use a centralized exchange, self-custody wallet, and DEX's.

To buy $PYUSD as a crypto beginner, you can follow these steps:

1. Get a Crypto Wallet: You'll need a digital wallet to store your $PYUSD tokens. Popular options include Phantom, Solflare Wallet, or Coinbase Wallet. Download and set up your chosen wallet.

2. Purchase Solana (SOL): $PYUSD is a token on the Solana blockchain. You'll need to buy some SOL to cover transaction fees and to swap for $PYUSD. Use a reputable exchange like Coinbase, Binance, or Kraken to purchase SOL with your local currency.

3. Transfer SOL to Your Wallet: Withdraw your SOL from the exchange to your wallet. Make sure to double-check the wallet address before confirming the transfer.

4. Choose a Decentralized Exchange (DEX): You can use a DEX like Raydium, Orca, or Serum to swap your SOL for $PYUSD. These platforms are like marketplaces where you can trade cryptocurrencies directly with other users.

5. Connect Your Wallet to the DEX: Follow the DEX's instructions to connect your wallet. This usually involves clicking a "Connect Wallet" button and selecting your wallet type.

6. Swap SOL for $PYUSD: Once your wallet is connected, you can swap your SOL for $PYUSD. Enter the amount of SOL you want to trade, and the DEX will calculate how much $PYUSD you'll receive. Review the details and confirm the transaction.

7. Wait for the Transaction to Complete: The swap might take a few seconds to a few minutes to complete. Once it's done, you should see the $PYUSD tokens in your wallet.

Certain content has been prepared by third parties not affiliated with Utopia Labs Corp. or any of its affiliates and Utopia Labs Corp. is not responsible for such content. Utopia Labs Corp. is not liable for any errors or delays in content, or for any actions taken in reliance on any content. Information on content could be out-dated. Information is provided for informational purposes only and is not investment advice. This is not a recommendation to buy or sell a particular digital asset or to employ a particular investment strategy. Utopia Labs Corp. makes no representation on the accuracy, suitability, or validity of any information provided or for a particular asset. Prices shown are for illustrative purposes only. Actual cryptocurrency prices and associated stats may vary.

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