Binance USD (BUSD) is one of the best stablecoins in crypto issued by Binance and Paxos.
BUSD is pegged 1:1 to the US Dollar meaning that it is useful for a variety of activity such as spot trading, futures, staking, paying for goods & services, remitting money globally, or just simply storing value.
Launched in 2021 Binance USD competes with other major stable coins such as USDT and USDC.
It is regulated by the New York State Department of Financial Services and issues a monthly audit to show that it is stable.
BUSD operates as an ERC-20 token on the Ethereum blockchain and BEP-20 on the Binance Smart Chain.
With billions of US Dollars in market cap, flexibility and a lot of credibility, BUSD plays an integral role in the DeFi ecosystem.
What is Binance USD?
Binance USD is a stablecoin native to the Binance exchange – the world's largest crypto exchange. However, BUSD is also widely adopted beyond Binance.
The BUSD stablecoin can be used to purchase goods where BUSD is accepted, pay for services globally where businesses or people want to accept it.
It is widely used in the DeFi space as a stable token in a trading pair with low fees. It is also useful for staking to yield APY's in various Dapps.
The BUSD token can be traded on a number of crypto exchanges (not just Binance). Top wallets such as Ledger, Trezor, MetaMask, and Trust Wallet all allow users to hold BUSD.