What is Binance USD?
Binance USD (BUSD) is a stablecoin, created and distributed by the world’s largest crypto exchange. The sole purpose of stablecoin is to provide a cryptocurrency that shall maintain a stable price instead of facing continuous ups and downs.
Surely there are many instances when traders or companies may need a stable medium of exchange as opposed to the ever-volatile cryptocurrencies. In that way, we can all trade and store our assets at a stable price. The stablecoins, such as BUSD, are a great stable alternative to the ever-changing value of the regular crypto.
BUSD is a U.S.-regulated stablecoin. It’s been approved by the New York State Department of Financial Services (NYDFS) and is fully backed by the U.S. dollar. The customers can easily buy 1 BUSD at a stable price – precisely 1USD. With this being said, we can assume that Binance USD is by far one of the safest and most secure cryptocurrencies out there.
How does Binance USD work?
Binance USD is 1:1 fully USD-backed – everyone can easily buy their BUSD assets with USD. This makes the conversion from USD to BUSD extremely easy, fast, and very secure. Surely, you can use BUSD to trade it for other cryptocurrencies, as well as to store it in your Ethereum wallet since it is built on ERC20 and BEP-2.
Customers can also always redeem their BUSD assets and trade them back for USDs. You can transfer our USDs anywhere in the world fast, secure, and low-cost. There are also multiple trading pairs such as BTC, ETH, BNB, and many more for BUSD.
Benefits of BUSD
What to do after buying BUSD?
You can safely store your BUSD in your account or your crypto wallet. If you seek to make a major investment in BUSD a hardware wallet is the best option for storing.
You can trade BUSD for other cryptocurrencies.
You can send it to anyone and anywhere.
Risk Warning: Cryptocurrency trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Coinsbay, otherwise seek independent advice if necessary. Crypto, CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing the entirety of your initial investment). You must assess and consider them carefully before making any decision about using our products or services.
The information on this website is general in nature and doesn't take into account your personal objectives, financial circumstances, or needs. It is not targeted at the general public of any specific country and is not intended for distribution to residents in any jurisdiction where that distribution would be unlawful or contravene regulatory requirements.