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What Is the Gemini Dollar and How to Buy It?

Jan 24, 2024 4 min read

Gemini dollar (GUSD) is a stablecoin issued by Gemini, a US-based cryptocurrency exchange. It combines the creditworthiness and price stability of the US dollar with the speed and efficiency of cryptocurrency. On LetsExchange, you can purchase GUSD for one of 4,000+ supported coins and tokens.

What Is GUSD?

Gemini dollar (GUSD) is a stablecoin that is backed by the U.S. dollar and issued by Gemini, a regulated cryptocurrency exchange and custodian. GUSD is designed to bridge the gap between traditional finance and the crypto economy by combining the stability and trustworthiness of the U.S. dollar with the speed and efficiency of blockchain technology.

How to Buy GUSD on LetsExchange: a Step-by-Step Guide

On LetsExchange, you have the opportunity to acquire GUSD using any of the 4,000+ supported assets on the platform. The exchange process is swift, secure, and transparent, with the exchange widget displaying every step. Our dedicated customer support team is readily available to address your inquiries and keep you informed about the transaction status.

LetsExchange provides a comprehensive range of affiliate tools and features, empowering every user to create an extra stream of income.

By swapping with LetsExchange, users can rely on the optimal rates curated by the exclusive SmartRate technology.

The platform pools liquidity from the major liquidity providers, guaranteeing ample liquidity for each swap. There's no limit on the number of swaps, and the generous upper limits are designed to meet all your needs comfortably.

To buy GUSD, follow the instructions.

Open the exchange widget.

In the You Send window, select the coin you are going to use to buy GUSD and enter the amount to sell. For this example, we will choose the default value of 1 ETH.

Decide whether you want to exchange your coins at a fixed or floating rate.

Opting for a fixed rate ensures that the amount you receive remains constant for a duration of 30 minutes. This implies that you will acquire an unchanging quantity of coins equivalent to the number displayed in the You Get field of the widget at the initiation of the swap.

Opting for a floating rate means selecting to process your swap at the prevailing market rate at the time of coin exchange. Consequently, the number of coins in the You Get field of the widget may vary from the actual number of coins you receive.

In the You Get field, select GUSD. The coin is available in the DEX mode, on the Ethereum and Polygon networks. It's crucial to select the correct network, as any mismatch may result in the loss of your coins. We will select the Ethereum network.

You will be requested to move to the DEX mode, do so by clicking on the Go to DEX button.

Check if the network is selected correctly. In our case, we are buying GUSD on the Ethereum blockchain, so the blockchain is displayed correctly. The sum to receive will be calculated automatically and displayed in the widget. Below, you can also see the transaction cost and the exchange rate.

If you find all the provided information satisfactory, proceed by connecting your wallet to initiate the fund swap.

You can pick one of the wallets recommended by LetsExchange or proceed with connecting your wallet such as MetaMask or another one. In our example, we will use MetaMask.

Click on the MetaMask button to proceed. Confirm all the actions in MetaMask.

Pick GUSD as a coin to buy. The number of coins to receive will be calculated automatically.

Below, you can see the transaction cost and the exchange rate.

If the provided data meets your approval, confirm the swap by clicking on the Confirm swap button.

Then, confirm the swap in your wallet and wait until your GUSD coins are purchased and sent to your wallet.

Don’t forget that you can track your transaction status at any moment by clicking on the View in explorer button.

As soon as the coins are swapped, you will receive them in your wallet.

Bottom Line

Buying GUSD on LetsExchange is easy and fast with more than 4,000 coins and tokens. The entire process is intuitive so that even complete beginners can handle it, and the LetsExchange customer support is always there to resolve any doubts.