Binance USD

by Binance Holdings Ltd.
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Built on the ERC-20 standard from Ethereum (ETH) and is “backed” by a fund in dollars. For each issued BUSD, there is $1, which is stored in accounts in American banks.

Binance USD description

The BUSD stablecoin provides the freedom to move money between the blockchain and the traditional financial system. The BUSD stablecoin allows traders to save on the binance trading commission and earn good money on the exchange rate fluctuations of traditional cryptocurrencies. Moreover, for half of the pairs with BUSD, trading with margin is supported.

If critotrading is not your element, then you can earn interest on the landing site. Transfer BUSD coins to a special account and earn even when you sleep. The new service for automated market-making Binance Liquid Swap provides an opportunity to earn money by providing liquidity. You can open and close a deposit at any time. A very profitable offer is deposits using two assets, for example, BUSD and BTC. Here, the income can range from 36 to 82% per annum, depending on the selected pair and the execution price. The most important distinguishing feature of the BUSD token is the issuer's statement about the readiness to instantly redeem these tokens from the holder. The purchase is made at the rate of 1:1, without commission and without limits.

There are three ways to purchase a stable digital currency BUSD.

  1. Exchange fiat for coins on the Binance platform or on the Paxos website. The exchange accepts payments of 70 national currencies, including Russia and the Ukraine. But one US dollar or PAX stable coins are not accepted in PAX. Registration and identity checks are required on both sides. Can you transfer money from credit card. Currency exchange, operators can send money fiat money and then buy BUSD catacombs or use Mercuryo, single or BANXA service. In addition, it is P2P software on Binance, where PAUL, prices or Saxo can be paid directly to the customer.
  2. Use the service of instant conversion of crypto assets on the binance exchange or in the interface of the Trust Wallet wallet. 30 virtual coins are supported, including BTC, ETH, Doge, Pax, Usdt. Это данные fro​m community CryptoDeFix. In this case, the exchange does not require passing KYC, and you can make an exchange absolutely confidentially through Trust Wallet.
  3. Exchange for one of the 120 cryptocurrencies on the Binance spot platform. Create an account, transfer your virtual coins to an exchange deposit and start trading. You will find the BUSD coin in the FIAT column. Trading with leverage is supported, the order creator (maker) does not pay a trading fee.

BUSD tokens are available in three blockchains: Ethereum, Binance Chain and Binance Smart Chain. Such a variety increases the convenience of their use. Token holders who prefer to use widespread and time-tested wallets for their storage can choose the Ethereum blockchain. BUSD tokens of the ERC-20 standard, which are traded in this blockchain, will also be suitable for those who are used to decentralized financial services developed on the basis of Ethereum. Those who are interested in fast and cheap transfers can opt for the Binance Chain blockchain. In this blockchain, the transfer is considered completed after one confirmation of the network. The time required to receive such a confirmation is only one second. The commission for transfers here is ten times lower than in the Ethereum network. BUSD operates on the most transparent basis. In addition to auditors, American financial regulators have access to monitoring accounts. Requests to buy or sell BUSD are accompanied by money transfers to or withdrawals from reserve accounts. In accordance with this, BUSD tokens are either issued or burned in the required quantities. The main way to use the stablecoin from Binance is to trade and save value as an alternative to the fiat dollar. Individuals and companies will be able to transfer financial and banking services to the blockchain. Since the coin was created on the basis of ERC-20, it can be used in decentralized finance and applications based on Ethereum. Binance cooperates with multinational financial corporations so that users can invest in bitcoins and other cryptocurrencies using credit cards. Thus, traders can directly buy BUSD using a credit card on the Binance cryptocurrency exchange.

The developers offer the following options for using BUSD:

  • The ability to transfer the BUSD token anywhere in a matter of minutes and with low commissions.
  • BUSD trading on different exchanges and DEX.
  • The ability to create a deposit on Binance in BUSD to earn an interest rate.
  • Payment with a BUSD token for goods and services.
  • Using BUSD as collateral and loan.
  • Use it as accumulative capital, that is, store BUSD on the exchange or in a wallet.

Binance USD features

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Check out Stablecoins Cryptocurrencies tied to the value of physical values or stocks of fiat currencies. 1
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Exchange services are at the top of most commercial services in the market and beyond, Binance USD or BUSD is a dollar pegged stablecoin that makes it much easier to transfer fiat USD anywhere, anytime using the low transaction rates of the blockchain. This stablecoin has an edge over all others. The most important benefit is the security of fiat currency. In the cryptocurrency market, rate fluctuations can be very strong, so you always need to have some kind of stable assets. The demand for them increases during periods of increased tension in the international situation. Since this token is pegged to the dollar, it is convenient to use a stablecoin at such times to wait out the period of uncertainty. Using this coin allows you to leave a profitable position without waiting for the money to arrive in the account.

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