Binance USD (BUSD)

Unverified

Loading...

Loading...

BUSD price prediction, BUSD price today, how to buy Binance USD coin

About BUSD

Binance USD (BUSD) is a stablecoin pegged to the value of the United States dollar (USD), initially launched in 2019 as a collaborative effort between Binance and Paxos. Although Paxos no longer mints new BUSD and has ended its relationship with Binance, existing BUSD can still be redeemed for USD or converted to USDP. As a stablecoin, BUSD was designed to provide a secure and stable way to store and transfer value on the blockchain, with its value pegged to the US dollar on a 1:1 basis. While its future support is uncertain, BUSD remains a widely recognized stablecoin with a history of being used for various purposes, including digital payments and decentralized finance (DeFi) applications.

Convert Fiat to Binance USD

Loading...

Crypto Investment Calculator

$

+

%

Fact Sheet

Explorer
Exchanges
Social Media
Blockchains
Ethereum logo

News

First Signs of Investors Shifting Away From US Markets Surge

Trump's U.S. tariff policy, which has sparked a trade war with several countries, has many investors wondering about the sustainability of this situation and considering shifting part of their investments toward initiatives based in other markets, such as Europe. Analysts:…

First Signs of Investors Shifting Away From US Markets Surge

Listed UK Miner to Convert Gold Income to Bitcoin, Stock Jumps

The listed gold mining company Bluebird Mining Ventures said on June 5 it has adopted a strategy of converting gold into digital gold. Under the initiative, income streams from gold mining projects will be recycled into a proactive "Bitcoin in…

Listed UK Miner to Convert Gold Income to Bitcoin, Stock Jumps

Ukraine Cyber Crime Bust: 5,000 Accounts Hacked for Crypto Mining

Ukrainian law enforcement recently arrested a 35-year-old man accused of hacking over 5,000 customer accounts of a hosting company to mine cryptocurrency, resulting in a loss of $4.5 million. Hacker Deploys Software to Remotely Manipulate Servers Ukrainian cyber police officers…

Ukraine Cyber Crime Bust: 5,000 Accounts Hacked for Crypto Mining

Moscow Exchange Opens Bitcoin Futures to Select Investors

Russia is entering the cryptocurrency derivatives market, as the Moscow Stock Exchange kicked off bitcoin futures trading on June 4, limited exclusively to “highly qualified” investors. This move comes as Russia cautiously experiments with crypto-related financial instruments, amid ongoing regulatory…

Moscow Exchange Opens Bitcoin Futures to Select Investors

DOJ Seizes $7.74M in Crypto Tied to North Korean Tech Ring

North Korea’s sprawling crypto laundering network has been hammered as U.S. authorities seized $7.74 million tied to fake IT jobs, blockchain trickery, and weapons funding. DOJ Targets North Korea’s Crypto Laundering Network With Asset Seizure The U.S. Department of Justice…

DOJ Seizes $7.74M in Crypto Tied to North Korean Tech Ring

Frequently Asked Questions about Binance USD

What is Binance USD (BUSD)?

Binance USD (BUSD) is a stablecoin pegged to the value of the United States dollar (USD). It is a digital currency issued by Paxos, a New York-based financial institution, and is backed by the US dollar on a 1:1 basis. BUSD is designed to provide a stable and secure way to store and transfer value on the blockchain. On February 13, 2023 Paxos announced the end of its relationship with Binance for the branded stablecoin BUSD. Paxos no longer mints new BUSD, but allows customers to redeem BUSD for USD or convert their BUSD to USDP.

How is BUSD different from other stablecoins?

BUSD is different from other stablecoins in that it is regulated by the New York State Department of Financial Services (NYDFS) and is backed by the US dollar on a 1:1 basis. This means that for every BUSD in circulation, there is an equivalent amount of US dollars held in reserve.

Is BUSD regulated?

Yes, BUSD is regulated by the New York State Department of Financial Services (NYDFS). Paxos, the issuer of BUSD, is a licensed and regulated financial institution, which provides an additional layer of security and stability for users. Paxos Trust will continue to manage BUSD dollar reserves, however, with its minting discontinued, there is no guarantee that it will be equally supported in the future.

What was the purpose of BUSD?

The primary purpose of BUSD was to provide a stable and secure way to store and transfer value on the blockchain. It was designed to be used as a medium of exchange, a store of value, and a unit of account. BUSD could be used to settle transactions, pay fees, and participate in decentralized finance (DeFi) applications.

Where can I buy, sell and trade BUSD?

BUSD can still be bought and sold on decentralized exchanges, including Uniswap and Curve.

How can I store my BUSD securely?

Your BUSD can be stored in a wallet that supports ERC20 tokens indefinitely, however, it may not always be accepted for exchange. It is recommended to convert BUSD to USDP or redeem it for USD on the Paxos platform.

Can I redeem my BUSD for US dollars?

Yes, BUSD can be redeemed for US dollars on a 1:1 basis. Paxos, the issuer of BUSD, holds an equivalent amount of US dollars in reserve for every BUSD in circulation, which can still be redeemed.