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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;
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.
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 Bullz
Trade, 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.