What is eUSD? Your Guide to a Secure and Stable Digital Dollar
If you've ever wanted a simple and reliable way to save or transact in U.S. dollars without relying on physical cash or traditional banks, eUSD might be the perfect solution. This stablecoin combines the stability of the U.S. dollar with the efficiency of digital currency. Here’s everything you need to know:
What is eUSD?
eUSD, or electronic dollar, is a stablecoin—a type of cryptocurrency designed to maintain a stable value. Unlike other cryptocurrencies like Bitcoin or Ethereum, whose prices can fluctuate dramatically, eUSD is pegged to the U.S. dollar. This means 1 eUSD is equal to $1.
But how does eUSD differ from other stablecoins like USDT or USDC? Great question! While eUSD is similar in being pegged to the U.S. dollar, it takes additional steps to limit something called “depegging.” Depegging happens when a stablecoin loses its 1:1 value with the dollar. For example, USDC has experienced depegging during times of market stress—for instance, when traders sell USDC for other assets faster than the system can handle, this causes its value to drop below $1.
eUSD is designed to avoid the depegging issue by:
- Using Multiple Stablecoins: It’s backed by a mix of stablecoins like USDT and USDC, so if one loses value, the others help keep eUSD steady.
- Automatic Monitoring: The system constantly checks the value of the basket’s stablecoins, selling the weaker ones and replacing them with stronger ones.
- Emergency Backup: It keeps an extra reserve to cover any losses so that if a stablecoin drops below $1, eUSD can stay equal to $1 by buying replacements.
There is an open, community-run process where people can suggest and discuss changes to the stablecoins included in eUSD’s basket. Decisions are made through open voting (also called open governance) to turn these discussions into actions. eUSD’s basket protocol is run by smart contracts (automated programs), published open source, and everything about it—like the balances of what is in the basket—can be audited by anyone who cares to do so, anytime.
Why Privacy and Security Matter with eUSD
Unlike most cryptocurrencies, which record transactions on public ledgers, eUSD transactions are private and secure. This means your financial data—like how much you earn, what you spend, or the amounts you send to family or friends—remains confidential. With end-to-end encryption, only you and your recipient can see the transaction details.
This level of privacy is more than just a feature; it’s essential for protecting sensitive information. Imagine if details about your salary or personal financial activities were exposed on a public blockchain? It could leave you vulnerable to fraud, theft, or even discrimination. By keeping your transactions private, eUSD safeguards not just your money, but also your peace of mind.
How Can You Use eUSD?
A Reliable Way to Save
Saving in eUSD is easy and accessible. With the Sentz app, you can fund your wallet with your local currency or other stablecoins like USDT or USDC, and your balance will automatically convert to eUSD.
Convenient International Transfers
With eUSD, you can request or send funds globally in seconds for just $0.00256 per payment. If your friend or loved one doesn’t have the Sentz app yet, you can still send them a payment via text message. When they click the payment link, they’ll be prompted to download the app, and once they create a wallet, the funds will be instantly available. The same applies to payment requests! It’s a fast, secure, and cost-effective solution for cross-border payments.
Get Paid in USD with Ease
As a freelancer or business owner, eUSD simplifies receiving payments in USD. With the Sentz app, you can easily create invoices that clients can pay online using their credit or debit cards. We handle all the complexity of stablecoins, so your clients don’t need to know anything about them. They simply view your invoice through a link and pay directly on the web without needing to download the Sentz app. The payment is automatically converted to eUSD when it lands in your wallet. They pay in a few taps, and you receive stablecoins—quick and simple!
Instant Access to Your Funds
Whether you're funding your wallet with USDT, USDC, or local currency to acquire eUSD, or receiving payments from clients, friends, or family, your eUSD remains accessible. Withdrawal methods vary by country, but you can easily view your options in the app. For instance, in Nigeria, you can withdraw to your bank account with options like instant bank transfers within minutes. Alternatively, you can withdraw as crypto and have your eUSD converted to USDT or USDC in another wallet. It’s your money, and we empower you to use and move it however you choose!
Start Using eUSD Today
eUSD is more than just a digital dollar; it’s a gateway to financial stability and freedom. Whether you want to save in USD, send money abroad, or receive payments from clients, eUSD offers a secure, private, and cost-effective solution.
Download the Sentz app today and take control of your financial future with eUSD.