Binance USD (BUSD) is the official cryptocurrency token from Binance, a popular cryptocurrency exchange that serves customers in the US and other regions. BUSD is noticeably a stablecoin, meaning that each coin has a fixed value. In this case, the currency has been pegged against the United States Dollar. It’s also a coin approved by the New York State Department of Financial Services.
Binance has partnered with Paxos, a leading blockchain environment, to create Binance USD. One noticeable advantage of BUSD has to deal with the convenience of trading. Besides, customers can use the Binance USD token in any space that accepts ERC-20 tokens. While Binance USD is audited regularly, it doesn’t bear transaction fees.Payment Benefits:
- Doesn’t Lose Value
The Binance USD coins you receive on your business website don’t lose their value overnight. Instead, you can use this cryptocurrency token to store value for long-term needs safely. You cannot do this with many crypto tokens.
- Competitive Security
Despite the approval it has from the New York State Department of Financial Services, Binance USD offers an improved security level. Paxos power the platform, and each transaction on the network is built on the tenets of blockchain.
- Easy to Trade
Binance USD has been built and marketed in partnership with Binance. It means you can use the tokens to trade on the Binance exchange or convert the same into another cryptocurrency token or fiat currency. It’s also regularly audited.
Because BUSD works on wallets and places where ERC-20 tokens are accepted, you won’t have any trouble transacting Binance USD tokens. It means you can accept the tokens for a wide variety of products, services, and causes on your website.