What is BUSD and how does it work in the world of cryptocurrencies?

3 answers

• Dec 17, 2021 · 3 years ago
  BUSD, or Binance USD, is a stablecoin that is pegged to the value of the US dollar. It is issued by Binance, one of the largest cryptocurrency exchanges in the world. BUSD provides users with a digital asset that maintains a stable value, making it a popular choice for traders and investors who want to minimize their exposure to the volatility of other cryptocurrencies. It works by being backed by an equivalent amount of US dollars held in reserve, ensuring that the value of BUSD remains stable. Users can trade BUSD on various cryptocurrency exchanges and use it for a wide range of purposes within the crypto ecosystem.
  626313
• Dec 17, 2021 · 3 years ago
  BUSD is like a digital version of the US dollar. It's a cryptocurrency that is designed to have a stable value, unlike other cryptocurrencies that can experience significant price fluctuations. BUSD is backed by real US dollars held in reserve, which means that for every BUSD in circulation, there is an equivalent amount of US dollars stored in a bank account. This ensures that the value of BUSD remains stable and can be easily exchanged for other cryptocurrencies or fiat currencies. BUSD can be used for various purposes, such as trading, investing, or making online purchases.
  583195
• Dec 17, 2021 · 3 years ago
  BUSD, also known as Binance USD, is a stablecoin that was created by Binance, one of the leading cryptocurrency exchanges. As a stablecoin, BUSD is designed to maintain a value of 1:1 with the US dollar. This means that for every BUSD in circulation, there is an equivalent amount of US dollars held in reserve. BUSD provides users with a stable and reliable digital asset that can be used for various purposes within the world of cryptocurrencies. It can be traded on different exchanges, used for online purchases, or even as a store of value. With its stability and wide range of use cases, BUSD has gained popularity among crypto enthusiasts and investors.
  660165