![]() Users can easily buy, sell, or trade BUSD for fiat currencies or other digital assets. Liquidityīinance is currently the world’s biggest cryptocurrency exchange, providing ample liquidity for Binance USD. Price stabilityīUSD price is pegged to the US dollar, serving as a stable store of value for those who want to store BUSD crypto and protect their funds from market volatility. As such, Binance USD today sets the tone for helping the crypto market define what a stablecoin is and what it should be. ![]() The inherent qualities of stablecoins make them an efficient way to exchange value.īinance USD is one of the largest stablecoins by market cap with a 24-hour trading volume in the tens of billions. ![]() This is often done with other stablecoins due to their peg and current price stability relative to other cryptocurrencies. The act of depositing crypto into an exchange or wallet that offers interest or other rewards is called staking. One of the most attractive features of stablecoins is stablecoin interest rates, which are very high and allow investors to earn money on their stablecoins by depositing them into an interest-bearing account.īinance stablecoin interest rates are generous-by converting your USD to Binance USD and holding it on Binance, you can earn up to 15% interest.Īlternatively, platforms like Nexo also allow you to earn up to a 12% APY on various stablecoins and tokens, including Binance USD. There are also no trade fees when converting your stablecoins to USDT, USDC (USD Coin), PAX, or TUSD. Binance USD (BUSD) feesīinance doesn't charge any fixed fees when buying Binance USD tokens on their exchange as long as your making purchases with USD via wire transfer or your cash wallet. In addition to improved stability and more transparency, because it's issued by one of the largest crypto exchanges out there, it's accepted by most exchanges and major wallets and has great growth potential. Binance’s guarantees coupled with the confidence of the Department of Financial Services is why BUSD considered to be one of the safest stablecoins on the market. Binance USD is also regulated by the New York State Department of Financial Services (NYDFS).Īccording to Binance, 100% of reserves are held in cash equivalents. For starters, it's one of few stablecoins that provide a monthly audit report and enhanced discrepancy checks to legitimize its locked reserves and verify it can cover all customer deposits.
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