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2019
Proof of Stake
etherscan.io
https://github.com/paxosglobal/busd-contract
Binance USD (BUSD) is a stablecoin created by Binance, one of the world’s largest cryptocurrency exchanges. Launched in September 2019, this cryptocurrency is designed to maintain a 1:1 parity with the US dollar. In other words, one BUSD is always equivalent to one US dollar, providing great stability compared to other cryptocurrencies that are prone to significant price fluctuations.
Launch and Early Stages (September 2019): At launch, BUSD was introduced with a value of $1, in line with its goal of maintaining a fixed peg with the US dollar. From its inception, the price remained very close to $1, reflecting the expected stability of a stablecoin.
Growth and Adoption (2020-2021): Throughout 2020, BUSD continued to trade at around $1. The COVID-19 pandemic led to an increase in trading volumes, but the price remained stable around $1. In 2021, with increased adoption and partnerships, BUSD remained constant at $1, showing its robustness as a stablecoin.
Regulatory Impact and Adjustments (2022): In 2022, regulatory concerns around stablecoins affected the overall market. Despite these uncertainties, BUSD maintains its parity with the US dollar, still trading near $1. Adjustments in reserve management and auditing enhancements ensure price stability.
Maintaining Stability (2023-2024): During 2023, BUSD continues to trade around $1, despite fluctuations in the cryptocurrency markets and new regulations. In 2024, BUSD remains stable at around $1, demonstrating its effectiveness as a stablecoin across various market conditions.
Crypto Volatility Protection
Investors looking for volatility protection can convert their assets to BUSD to avoid major price fluctuations. This helps preserve the value of their funds while waiting for more favorable market opportunities.
Use in International Transactions
BUSD is also useful for international transactions, allowing for fast and secure transfers between different currencies and platforms. Its stable value makes it ideal for cross-border transactions where stability is essential.
Buying Binance USD (BUSD) is relatively easy thanks to its availability on several decentralized exchanges. Here is a detailed guide on how to buy this cryptocurrency:
Choosing a Decentralized Exchange Platform: BUSD is available mainly on decentralized exchanges (DEXs) such as:
PancakeSwap: PancakeSwap is one of the largest DEXs on the Binance Smart Chain (BSC). You can exchange various assets for BUSD directly on this platform.
KnightSwap: KnightSwap also offers the possibility to buy BUSD in exchange for other cryptocurrencies or tokens on the BSC.
Biswap v2: Biswap v2 is another DEX where you can buy BUSD. This platform stands out for its competitive transaction fees and advanced trading features.
Create an Account and Set Up a Wallet: To use these platforms, you must have a wallet compatible with the Binance Smart Chain. Here are the steps to follow:
Install a Crypto Wallet: Wallets like MetaMask or Trust Wallet are popular for interacting with DEXs on BSC. Install one of these wallets and configure it for Binance Smart Chain.
Add Funds to Your Wallet: Transfer funds in BNB (Binance Coin) or other supported cryptocurrencies to your wallet. You will need these funds to trade for BUSD.
Access the Trading Platform: Connect your wallet to one of the mentioned DEX platforms. To do this:
Visit the DEX website: For example, go to PancakeSwap.
Connect Your Wallet: Use the login option provided on the platform to link your wallet.
Place a Buy Order: Once logged in, search for BUSD in the trading section of the platform:
Select BUSD: Choose BUSD as the asset you wish to buy.
Enter Purchase Details: Specify the amount you want to purchase in BUSD and confirm the transaction. DEX platforms allow you to select market orders or limit orders depending on your preference.
Confirm Transaction and Store BUSD: After purchasing, the transaction will be confirmed on the blockchain. Make sure the BUSD appears in your wallet:
Check your balance: You should see the BUSD added to your wallet after the transaction is confirmed.
Store Safely: Keep your BUSD in your secure wallet for optimal management.
Check Transaction Fees: Transaction fees may vary between different DEX platforms. Make sure to check the fees before finalizing your purchase.
Use Trusted Platforms: Choose well-established decentralized platforms with a good reputation to ensure the security of your transactions.
Ensure Liquidity: Check the available liquidity for BUSD on the DEX to avoid significant slippage when purchasing.
Read also: Binance stops offering its stablecoin BUSD.
In conclusion, Binance USD (BUSD) stands out as a valuable tool for investors looking to combine stability and flexibility in their crypto transactions. With its ability to offer stable value and attractive investment opportunities, this cryptocurrency represents a solid choice for those looking to navigate the world of cryptocurrencies efficiently.
The value of Binance USD (BUSD) is designed to be stable around $1. Being a stablecoin, its price fluctuates slightly around this value depending on market conditions, but it is generally kept close to $1 by the reserve mechanism and supply and demand adjustments.
The price of BUSD may fluctuate slightly due to natural fluctuations in supply and demand on exchanges. However, these fluctuations are generally minimal due to BUSD’s stablecoin structure, which is backed by US dollar reserves and supply adjustments.
The price of BUSD is regulated primarily by the reservation mechanism. For every BUSD issued, an equivalent amount of US dollars is held in reserve. Adjustments to the BUSD supply are made to maintain parity with the US dollar. Regular audits ensure that reserves are sufficient to support the value of the cryptocurrency.
The price of BUSD is designed to remain stable regardless of economic news, as it is backed by US dollar reserves. However, economic news can influence the overall demand for stablecoins and, therefore, cause minor fluctuations in the price.
The main factors influencing the price of BUSD include supply and demand on exchanges, financial regulations, and changes in the Binance ecosystem. BUSD generally maintains a stable value around $1 due to efficient reserve management and regulatory mechanisms.
The current value of BUSD can be checked in real-time on major cryptocurrency exchanges where it is listed. You can check BUSD quotes on cryptocurrency price tracking sites.
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