Binance USD (BUSD)

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

• Maintains stable price;
• Fully USD-backed;
• 1:1 price ratio to the U.S. dollar;
• Possibility of redemption for USD;
• Stable, secure, and fast transactions;
• Can be bought using your local currency;

How to buy BUSD?

1. Create an account.
2. Verify your identity.
3. Fund your account and start trading Binance’s BUSD on X1.

What to do after buying BUSD?

• Store/Hold 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.

• Trade BUSD

You can trade BUSD for other cryptocurrencies.

• Send BUSD

You can send it to anyone and anywhere.