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Binance USD

BUSD

Binance USD Market Stats

Binance USD Price

$22,014.48

Binance USD Price Change (24H)

$22,014.48

Binance USD Price (24H Low)

$22,014.48

Binance USD Price (24 High)

$22,014.48

Binance USD Price (All Time High)

$22,014.48

Binance USD Market Cap

$22,014.48

Binance USD Volume (24H)

$22,014.48

Binance USD Circulating Supply

$22,014.48

Binance USD Price Live Data

The live [Bitcoin] price today is [$20,014.48] with a 24-hour trading volume of [$44.6b]. The [BTC] price is updated in real-time. [Bitcoin] is [up/down] [45.77%] in the last 24 hours. The current [Bitcoin] live market cap is [$189,3B] with a circulating supply of [121.3M] [BTC] coins and a max supply of [21,000,000] [BTC] coins.

Looking to buy [Bitcoin] at the current rate? The best cryptocurrecny exchanges for trading for [Bitcoin] stocks and coins are Bitbuy, CoinSmart, NetCoins, Netwon, and Crypto.com; you can find other [Bitcoin]-[BTC] exchanges on our best crypto exchange, best crypto exchange in Canada and best crypto exchange in the USA pages.

What is Binance USD (BUSD)?

BUSD or Binance USD is a stablecoin backed by the USD. Binance is the exchange that created it. This crypto coin is notable for being the first stablecoin to receive approval from the NYSDFS.

A digital asset such as BUSD allows users to invest in a currency while holding a real-world value that is not as volatile as, for example, Bitcoin. There is a 1:1 correlation between this crypto coin and the U.S. Dollar.

This stablecoin helps DeFi transactions to be more efficient like other stable cryptocurrencies, eliminating the need for tokens to convert into fiat or pass through intermediary platforms.

Since NYSDFS approves it, you can easily purchase BUSD in the U.S. It’s a stablecoin pegged to a fiat currency, the U.S. dollar.

Approximately the same number of U.S. dollars as BUSD are kept by Paxos, which holds them in U.S. banks protected by the FDIC. This crypto coin’s price increases and decreases proportionately to the U.S. dollar.

Stablecoins follow this model since it is the most prevalent. BUSD tokens are also compatible with several smart contracts based on the ERC-20 standard.

The token is secure with these smart contracts thanks to their zero-trust security. Aside from that, this cryptocurrency makes use of this feature to make it easier to connect wallets and exchanges that support Ethereum.

Busd Coin - Comparewise

Who Created Binance USD BUSD?

It was Binance and Paxos who came up with the idea for BUSD. They announced their partnership on September 5, 2019, and it appears that it is the result of that partnership.

The NYDFS approved the token even before its debut. Initially, it was available for purchase with Paxos USD. But later, it was launched on the Binance platform in exchange for XRP, BTC, and BNB.

In a short time, this crypto coin became well-known in the community, and the trading range soon expanded to 48 pairs of USDs. It has performed very well since its launch, keeping a 1:1 value against the U.S. dollar.

Every month, Withum audits BUSD according to NYDFS regulations and makes this information publicly available on its website.

How Does Binance USD (BUSD) work?

It is relatively easy to keep BUSD’s peg compared to other stablecoins. Reserves are available for exchange for 1 USD for each BUSD. As soon as you send your BUSD to Paxos, the company will remove your tokens and exchange them for fiat currency.

As a result, supplies and reserves remain unchanged at a 1:1 ratio. Whenever prices fall below $1 per 1 BUSD, arbitrageurs begin to buy this cryptocurrency in large amounts. They could still make a profit even if the price were $0.98.

Once they purchase large quantities of BUSD, they can exchange it for fiat utilizing the Paxos platform. As the demand increases, the token value naturally rises to $1, re-establishing the 1:1 peg.

Is BUSD a Good Investment?

In general, BUSD may not serve as an investment. This is because its value closely correlates with the U.S. dollar. This commodity does not exhibit fluctuations in value that one would expect from an investment.

While it depends on the circumstances, like the rapid loss of value in local currency due to inflation. But you may consider this crypto coin as an investment and a way to keep your value in dollars. However, it also carries counterparty risks despite its stablecoin status.

Depending on the situation, the issuer might not be able to back all tokens, the government might shut the issuer down, or the issuer might cease to exist. Any of these scenarios can adversely affect a stablecoin’s value and liquidity.

FAQs about Binance USD (BUSD)

How Many BUSDs Are There?

There are 17.9 billion BUSD coins in circulation.

How is BUSD Secured?

Unlike other currencies, BUSD has financial backing from fiat cash deposited in insured U.S. banks and Treasury securities, making it a secure option.

What Can You Use BUSD For?

You can fund your trades faster with this particular cryptocurrency. There is widespread acceptance of this crypto coin as a medium of exchange. It’s a means of storing value and making payments across the cryptocurrency community.

Binance USD News

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Binance USD Community

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Binance USD Analysis

BUSD Analysis Summary

Unlike other cryptocurrencies, the BUSD does not suffer from market volatility. The currency was introduced in 2019 and had a peg to the dollar.

Because of this, its value has remained relatively stable over time. Investors looking to maximize capital gains might not want to invest in such stablecoin.

However, you can earn passive income by investing in lending programs with this cryptocurrency. There are significant risks associated with this.

Rather than viewing this crypto coin as a currency, it is best to view it as a mechanism for facilitating international transfers. You can also use it to prevent the depreciation of your local currency against dollars during inflationary periods.

The trend of the BUSD appears to be stable due to its peg to the U.S. dollar. According to market experts, it could surpass other stablecoins as a popular currency in the future.

Analysis Q&As

What is Binance USD price today?

Binance USD price today is [price] within 24-hour trading volume of [Volume].

What was the highest price for Binance USD?

Binance USD hit an all time high of [All High].

What was the lowest price for Binance USD?

Binance USD had an all time low of [All Low].

What was the 24 hours trading volume of Binance USD?

The 24 hour trading volume of Binance USD is [Volume].

Where can Binance USD be traded?

You can trade Binance USD on Crypto.com, Kraken, Binance, and FTX. The popular trading pairs for Binance USD in the market includes BUSD/USD, Binance USD/CAD, Binance USD/EUR, Binance USD/GBP, and Binance USD/AUD. Binance USD is a token that is related to the ... categories.

What exchange is Binance USD on?

Online traders can buy or sell Binance USD (BUSD) on the top crypto exchange, such as Crypto.com, Kraken, Binance, and FTX.

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Binance USD Technicals

See Comparewise coin rating definitions for more information.

Binance USD Price Statistics
Binance USD Price Today

08/16/2022

Binance USD Price

$22,014.48

Binance USD Price Change (24H)

$22,014.48

Binance USD Price (24H Low)

$22,014.48

Binance USD Price (24H High)

$22,014.48

Binance USD Price (All Time High)

$22,014.48

Binance USD Market Cap

$22,014.48

Binance USD Volume (24H)

$22,014.48

Binance USD Circulating Supply

$121.3M

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