What is USDS?
USDS is the native stablecoin of Sky Protocol, issued through the protocol and governed by SKY token holders.
Simply holding USDS in a wallet does not generate yield. Sky Protocol savings features use separate tokens such as sUSDS, so holding USDS and using a savings product are two different actions.
Although the term "stablecoin" is commonly used, there is no guarantee that the asset will maintain a stable value in relation to the value of the reference asset when traded on secondary markets, or that the reserve of assets, if there is one, will be adequate to satisfy all redemptions.
How to buy and hold USDS in the Crypto.com App
In the Crypto.com App, the basic steps are:
- Sign up and verify your identity.
- Top up your account.
- Select USDS on the trading screen.
- Review the order details and confirm when you're ready.
For One-Time orders in the App, the minimum buy or sell amount is 10 AED.
What payment methods can you use for USDS?
You can fund your account and buy USDS using a bank transfer, a debit or credit card (Visa or Mastercard), Apple Pay, Google Pay or crypto deposited from another wallet. Availability may vary by jurisdiction.
Bank transfers in AED and Swift transfers in USD are free on Crypto.com, although your bank may charge a separate fee. Crypto deposits are free too, but other charges may apply.
What should you check before confirming a USDS order?
A One-Time order buys or sells cryptocurrency at the current market price. The conversion rate is valid for 15 seconds, and if you don't confirm in time, the rate refreshes.
Before confirming, check the asset, amount, payment method and quoted rate. Once a One-Time order has been placed, it cannot be cancelled.