What is busd and how does it relate to cryptocurrencies?

3 answers

• Nov 23, 2021 · 3 years ago
  BUSD stands for Binance USD, which is a stablecoin pegged to the value of the US dollar. It is issued by Binance, one of the largest cryptocurrency exchanges in the world. BUSD is built on the Binance Chain and operates as an ERC-20 token on the Ethereum blockchain. It provides users with a stable and secure way to store and transfer value, as its value is always equivalent to one US dollar. BUSD can be used for various purposes within the cryptocurrency ecosystem, such as trading, investing, and making payments. It offers the advantages of fast transactions, low fees, and global accessibility.
  601301
• Nov 23, 2021 · 3 years ago
  BUSD is a stablecoin that offers the stability of the US dollar while leveraging the benefits of blockchain technology. It is backed by reserves of US dollars held in a regulated US financial institution. BUSD provides a reliable and transparent digital currency option for users who want to avoid the volatility often associated with other cryptocurrencies. It can be used as a medium of exchange, a store of value, or a unit of account within the cryptocurrency market. BUSD can be easily transferred between different wallets and exchanges, making it a convenient tool for cryptocurrency traders and investors.
  613205
• Nov 23, 2021 · 3 years ago
  BUSD is a stablecoin that is issued by Binance, one of the leading cryptocurrency exchanges. It is designed to provide users with a stable and reliable digital currency option. BUSD is backed by a one-to-one reserve of US dollars, which means that for every BUSD in circulation, there is an equivalent amount of US dollars held in reserve. This ensures that the value of BUSD remains stable and predictable, making it an attractive option for users who want to avoid the volatility of other cryptocurrencies. BUSD can be used for a wide range of purposes, including trading, investing, and making payments. It offers the benefits of fast transactions, low fees, and global accessibility.
  687172