Upon her friend’s recommendation to invest in Bitcoin in 2015, she became interested in all things crypto. When she is not writing reviews or guides about DeFi and other crypto products and services, Emma prefers to spend her time in the company of her friends and family. Enter the ticker (BTC for Bitcoin, ETH for Ethereum) for the cryptocurrency you wish to deposit and select it from the drop-down menu.

Deposit cryptocurrencies

If you don’t own any cryptocurrency, you can get started by purchasing some BTC on Binance with a credit or debit card. In light of the TerraUSD saga, a number of stablecoin issuers have moved to disclose the assets backing their coins. As of June 30, 2022, 96% of the assets backing the Binance USD were held in cash and cash equivalents, while 4% were invested in U.S. The stablecoin was created by Paxos and Binance, and complies with the strict regulations of the NYDFS.

  1. No verification is required on Binance for withdrawals below 2 BTC per day, and the exchange also offers a mobile app for both iOS and Android devices.
  2. Now if it’s the first time you use MetaMask click Create a Wallet, if not use Import Wallet and enter “Secret Recovery Phase”, we will save it for the newly created wallet also so you will know how you can import it in the future.
  3. These digital assets are designed to maintain a stable value by pegging their price to a reserve of assets, usually a fiat currency like the US Dollar.
  4. There is only seven crypto exchanges on which you can trade BUSD.
  5. This level of compliance provides users with added confidence in the safety and legitimacy of BUSD as a digital asset.

As a Unit of Account

Tether (USDT), introduced in 2014, was one of the first stablecoins to gain prominence, followed by several others, such as USD Coin (USDC) and TrueUSD (TUSD). BUSD was created through a collaboration between Binance, one of the largest cryptocurrency exchanges in the world, and Paxos Standard, a financial technology company specializing in creating regulated blockchain infrastructure. This partnership enabled the development of a stablecoin that adheres to strict regulatory requirements. Paxos is responsible for issuing BUSD tokens and acting as the custodian for the USD reserve, while Binance provides the platform for users to trade and exchange BUSD.

What is Binance USD used for?

Paxos will allow customers to redeem BUSD for USD or convert their BUSD to USDP. ⚠ Trading cryptocurrencies involves risk, and may not be suitable for all investors. Cryptocurrency prices can be volatile and unpredictable, and may be influenced by various factors, including market manipulation, regulatory changes, and technological developments. The Know Your Customer or KYC process is a way to start trading legally and it is a standard process required by a lot of crypto exchanges.

Greenfield later joined the parish as a defendant in the case, seeking to uphold the industrial zoning ordinance. Jocyntia and Joyceia Banner preserve the history of their enslaved ancestors. When choosing a wallet, always prioritize security, ease of use, and compatibility with the specific token standard (ERC-20 or BEP-2) of your BUSD. Regulations governing cryptocurrencies vary by jurisdiction and may change over time, which could impact the legality and use of cryptocurrencies. For the last 24 hours, Radio Caca, Wrapped BNB, and BinaryX are the top three trading pairs from a total of 142 pairs for Binance USD with a total trading volume of 2.3 m. Below table shows all exchanges where it’s possible to buy Binance USD and the countries allowed on each specific platform.

During that revolt, hundreds of enslaved plantation workers, inspired by the Haitian Revolution, took up arms and marched toward New Orleans, hoping to seize the city, free other slaves and establish a free state. The uprising was quelled by U.S. troops and local militia, leaving nearly 100 enslaved people dead. Scores more were captured and executed, while others were returned to their plantations, where some were punished. The Banner twins are the founders of The Descendants Project, a nonprofit that fights for historic and cultural preservation for descendants of enslaved people. It was through their nonprofit that they bought Woodland Plantation, the birthplace of the 1811 slave revolt. If you are planning to trade crypto, please consult a financial adviser.

Top DeFi protocols like Venus, Aave, yearn.finance and more also allow users to earn yield on their BUSD. Based on the price stability, Stablecoin plays an important role in transactions, payments and settlement, and Decentralised Finance (DeFi). BUSD is a solid choice of stablecoin for anyone who regularly uses Binance Smart Chain and Binance Chain. The BUSD price per token is $1, and around $3 billion worth of Binance USD tokens were traded in the past 24 hours. At the time of this writing, there are 17.95 billion Binance USD tokens in circulation, with a market capitalization of around $17 billion. You can also place a limit order indicating that you want to buy BUSD at or below a specific price point.

Apart from its protection measures that safeguard your personal and financial information, it also offers other benefits, such as low fees and fast processing times. A bank transfer is a secure option to buy cryptocurrency, especially how to predict forex market trends if you are thinking of purchasing large amounts of virtual currency. Keep in mind that bank transfers may take a little longer, and fees may vary. Starting February 21, Paxos will halt minting new BUSD stablecoins.

To check Binance USD’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page. Select the crypto you’d like to purchase, the fiat currency you want to buy crypto with, and your country of residence. Look through the best offers and choose the one that suits you most. They both have trading pairs with the vast majority of cryptocurrencies listed on Binance and therefore give you the greatest amount of flexibility. Security is arguably the most crucial factor to consider when choosing an exchange platform. Most major exchanges have been subject to several malicious hacks during their history.

Enter the amount you want to exchange or use the percentage buttons, and click buy. Once that’s done, click on the payment partner of your choice and it will redirect you to a payment page. To start trading on LATOKEN, you need to sign up on the platform. Then you’ll have to wait for the approval and now you can easily trade Gate.io. Binance USD’s price today is US$0.9998, with a 24-hour trading volume of $11.92 M.

BUSD offers the opportunity to convert holdings into fiat currency during a volatile period. BUSD aims to meld the stability of the dollar with blockchain technology. As a digital fiat currency, it is based on ERC-20, supporting BEP-2. You can send dollars instantly, with low fees, via the blockchain. The crypto market is volatile, and managing your portfolio could get tricky if you hold multiple assets. Utilizing a portfolio tracker will help you keep track of your BUSD tokens and all your crypto investments from one platform at all times.

Compare the exchanges’ security, user experience, fee structure, supported coins, etc., to choose the one that has the characteristics you need, such as affordable transaction fees, an intuitive platform, round-the-clock customer service, etc. Also, consider whether the cryptocurrency exchange is regulated by the Financial Industry Regulatory Authority (FINRA), etc., and allows you to buy BUSD using your preferred payment method. Gemini Dollar (GUSD) is a stablecoin introduced in 2018 by the Gemini Trust Company, a cryptocurrency exchange, and custodian founded by the Winklevoss twins. GUSD is an ERC-20 token pegged to the US Dollar and is regulated by the NYDFS. Gemini conducts monthly third-party audits of its USD reserve to ensure transparency.

There are over seven crypto exchanges where you can buy Binance USD, and the top 3 ones are Gate, PancakeSwap (V2), and PancakeSwap (V2). Pancakeswap is a decentralized exchange on the Binance platform, you can’t buy any token on it without a Binance coin, so first of all, you need to get a BNB, Binance Coin(Instructions where to buy BNB). We aggregate crypto offers from a variety of fiat https://forexbitcoin.info/ payment providers so that you can always find the very best one. We take a comprehensive security approach to ensure your crypto investments and identity are safe. We provide quick crypto purchases to more than 2.6 million users every month. For users interested in yield farming and lending BUSD, it is available on centralized platforms like Binance, Blockfi and Celsius, among others.

Binance USD was developed in partnership between Binance and Paxos and regulated by the NYDFS (New York State Department of Financial Services). Paxos is the USD custodian of BUSD and holds the necessary reserves in US dollars for every BUSD issued to ensure that one unit of BUSD is equivalent to one US dollar. If you’re planning to keep your newly purchased coins for an extended period, we highly recommend securely storing them in a hardware wallet. It’s usually free to make a bank transfer from your local bank accounts, but you should still double-check with your exchange. The Center for Constitutional Rights, which represented the Descendants Project in the case, said in a press release at the time that the 1990 rezoning ordinance had been illegally pushed through without proper approvals.

Although BUSD’s regulatory compliance is a strength, it can also be a double-edged sword. The stablecoin operates under strict regulatory oversight from authorities like the New York State Department of Financial Services (NYDFS). While this offers users a higher level of trust and security, it also means that BUSD could be subject to changing regulatory requirements or potential legal actions. These regulatory risks can affect the stablecoin’s availability, functionality, or liquidity in certain jurisdictions or scenarios.

Faster Payments is a speedy payment method that allows residents of the United Kingdom to send payments in their local currency without incurring any additional exchange charges. Follow the instructions on the screen and confirm your payment. Your purchased cryptocurrency will arrive in your crypto wallet soon. Before joining CoinCodex, Emma had been covering stories at the intersection of culture, entertainment, and technology.

Although GUSD has a focus on regulatory compliance and transparency similar to BUSD, it has a smaller market share and is not as widely adopted across platforms. Tether (USDT) is one of the first and most widely used stablecoins, introduced in 2014. It is primarily an ERC-20 token but is also available on multiple other blockchains, such as TRON and Omni Layer.

Or if you prefer buying it by Peer 2 Peer method, you can choose that too. The Binance USD price page is just one in Crypto.com Price Index that features price history, price ticker, market cap, and live charts for the top cryptocurrencies. BPay is an intuitive, secure, and instant way to purchase cryptocurrency. Whether you want to buy a little or a lot, BPay makes it easy to schedule regular payments and make everyday crypto purchases.

The stablecoin grew from a market capitalization of around US$1B at the start of 2021, to over US$14.6B at the end of 2021. This makes it the third largest stablecoin by market cap, behind Tether and USDC. This growth is largely due to more user adoption as wallets, platforms and services, DEXes and CEXes support BUSD. A stablecoin is a cryptocurrency whose value is tied to another asset. USD is a stable investment and an important tool for traders and investors because of its accessibility.

If you don’t want to use Binance, there are plenty of alternatives – here’s a list of all the exchanges where you can buy BUSD. According to the data on CoinStats, the Binance USD token has a total supply of more than 17 billion tokens. Ledger offers an application for crypto staking and lending called Ledger Live that can be installed on your computer or mobile phone.

Integrating Changelly services into Trezor Wallet’s exchange has been a great success for all parties, especially the users. Working with Changelly is a pleasure, thanks to their professional and courteous approach. Get any of the 500+ supported cryptocurrencies in mere minutes with just a few clicks and at the best rates on the market. On the top right corner, select BUSD and search for BTC, which is the ticker for Bitcoin. If your deposit has already been processed, the coin and amount will appear on the list. The Coinbase wallet is one of the most popular and widely used software wallets, accessible on Google Play and the App Store for free.

Your broker will ask you the number of coins you wish to acquire and the maximum price you’re ready to pay for each once you’ve placed an order. The coins will only appear in your wallet if your broker fulfills your order at or below your requested pricing. The broker may cancel your order at the end of the day or leave it open if the price increases over your limit. They are cryptocurrencies with fixed values tied to fiat currencies, which makes them one of the most popular types of crypto today.

Ensure that your chosen platform has a reputation for excellent security so that your crypto stored on the exchange won’t be compromised. “Economically, Greenfield is poised to revitalize the local St. John the Baptist Parish economy by transitioning from petrochemical-based jobs to environmentally sustainable, non-toxic industrial operations,” the company continued. It does take a little while for cryptocurrency to be reached in your LATOKEN wallet but you’ll see them in around 5-10 minutes. Once you’re logged in, you should be prompted to the main page. Hover over to “Buy Crypto” and select Credit Card if you want to buy crypto from your Credit Card.

The Binance USD token has been recognized as a medium of exchange by the NYDFS. Due to its regulated status and the audited reserves held in trusted financial institutions, it’s a reliable and stable investment. BUSD has various utilities such as trading, lending, and as payment method. You can also transfer your digital dollars (BUSD) anywhere in minutes, at low cost, and on the blockchain.

Moreover, it supports more than 1,000 coins and all ERC20 tokens. There is no guarantee that any crypto asset will have at any time in the future certain value (if any) or market liquidity.Crypto assets are at risk of losing substantial (or all) value within a short time period. Overall, BUSD’s unique features and advantages make it a compelling choice for those seeking a stable, secure, and flexible digital asset in the rapidly evolving world of cryptocurrencies. BUSD is available as both an ERC-20 token on the Ethereum blockchain and a BEP-2 token on the Binance Chain. This dual-token approach provides users with flexibility and access to various platforms and services. As an ERC-20 token, BUSD can interact with the vast ecosystem of decentralized applications (dApps) built on Ethereum.

After you’ve chosen a cryptocurrency exchange that fulfills all your criteria, the following step is to register with the exchange using a valid email or mobile number. A link will be sent to your email, and you must click it to verify your email. Once the account is activated, you must create an elaborate password, and you’re good to go. In addition to Bitcoin, BNB, and Ethereum, other crypto assets, like DeFi, NFTs, Stablecoins, etc., are making their way into the ring as well. The sisters said they purchase these lands to preserve their history — they call it defensive buying. Most exchanges need a minimum $50 deposit to exchange it for crypto.

While USDT has the largest market share among stablecoins, it has faced some controversies and concerns over its transparency and reserve management. In contrast, BUSD’s regulatory compliance and transparent audits make it a more trusted option for some users. A stablecoin is a type of cryptocurrency designed to minimize price volatility by pegging its value to a reserve of assets, typically a fiat currency such as the US Dollar. The main goal of stablecoins is to provide the benefits of digital currencies, like decentralization and fast transactions, while maintaining a stable value. This stability allows stablecoins to be used for various applications, such as daily transactions, remittances, and as a safe haven during market turbulence.

With Changelly, you can use a Visa or a Mastercard credit card issued in your local currency. Paxos Standard (PAX) is a stablecoin launched in 2018 by Paxos Standard, the same company responsible for issuing BUSD in partnership with Binance. PAX is an ERC-20 token pegged to the US Dollar and is regulated by the NYDFS, similar to BUSD. Since the launch of BUSD, PAX has taken a backseat, with Paxos Standard focusing more on its partnership with Binance. While PAX shares many similarities with BUSD, it is less widely adopted and has a smaller market share. It is hard to ignore the need for stable assets when it becomes too volatile in the crypto market.

If you have any questions, drop us a line at – we love hearing from our readers and we respond to every single email! And don’t forget to follow us on Facebook, Instagram, and Twitter. Now if it’s the first time you use MetaMask click Create a Wallet, if not use Import Wallet and enter “Secret Recovery Phase”, we will save it for the newly created wallet also so you will know how you can import it in the future. Now you can agree to share analytics data or not just choose with which option you’re more comfortable.

With a convenient iDEAL payment service, you can have your Bitcoins or Ethereum bought in no time! Payments with iDEAL are made using the mobile banking app or your own online banking system. Open your crypto wallet and welcome your newly purchased cryptocurrency.

Since it is regulated and reputable financial institutions audit its reserves, the coin is extremely reliable. Since the wallets are always connected to the internet and store your keys online, they are less secure. For beginners with a few tokens, software wallets are ideal since they are free and simple to use. A hardware wallet or cold wallet, such as Trezor, Ledger or SecuX, is the most reliable option because they offer offline storage and backup capabilities. We recommend these for experienced BUSD coin holders with large amounts of tokens. Now, let’s take a look at different types of wallets to store BUSD coins.


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