Binance USD (BUSD) - A Stable Coin Pegged to USD

Symbol: BUSD

Name: Binance USD

Asset Platform: Ethereum

Market Cap Rank: 25

Price Change Percentage (30 days): 25%

Website: https://www.paxos.com/busd/

Listed Exchanges: Binance, Pionex, Tidex, Bitrue, P2B, Biconomy, XT.COM, CoinTiger, LBank, QMall, Dex-Trade, Coinsbit, Azbit, PancakeSwap (v2), LocalTrade

Binance USD (BUSD) is a stable coin that is pegged to the US Dollar (USD). It has received approval from the New York State Department of Financial Services (NYDFS). The token is built on the Ethereum blockchain, giving it the advantage of security and reliability.

As a stable coin, BUSD's value is always maintained at a ratio of 1 BUSD to 1 USD. This means that users can directly purchase and redeem BUSD at a fixed exchange rate, providing stability and predictability in transactions.

BUSD is highly regarded in the crypto community and is widely accepted and traded on various exchanges. Some of the notable exchanges where BUSD is listed include Binance, Pionex, Tidex, Bitrue, and many more.

The token's popularity and its integration with different ecosystems, such as Gnosis Chain, Moonriver, Polygon, Harmony, Fantom, Moonbeam, Velas, Ethereum, and Cronos, make it a versatile and accessible option for users.

With a market cap rank of 25, BUSD has gained significant traction in the crypto market. Its price change percentage over a 30-day period has been 25%, making it an appealing investment option for traders and investors.

FAQ

1. What is the purpose of Binance USD?

Binance USD (BUSD) serves as a stable coin that is pegged to the US Dollar (USD). It provides stability and predictability in transactions, making it an ideal digital currency for everyday use and investment.

2. How is the value of BUSD maintained at a 1:1 ratio with USD?

The value of BUSD is maintained through a combination of mechanisms, including regular audits and collateralization. The token is backed by a reserve of USD held by Paxos, the issuer of BUSD. This ensures that there is always a 1:1 ratio between BUSD and USD.

3. Is BUSD regulated?

Yes, BUSD has received approval from the New York State Department of Financial Services (NYDFS), which adds an extra layer of regulation and oversight.

4. Where can I buy and trade BUSD?

BUSD is listed on various exchanges, including Binance, Pionex, Tidex, Bitrue, and many more. You can purchase and trade BUSD on these exchanges, providing easy accessibility for users.

5. Can I redeem BUSD for USD?

Yes, BUSD can be redeemed for USD at a fixed exchange rate of 1 BUSD = 1 USD. This direct redemption ability adds another layer of trust and stability to the token.

Disclaimer: This article provides general information only and should not be considered as financial or investment advice. Always do your own research and consult with a professional financial advisor before making any investment decisions.