Binance USD (BUSD) is a 1:1 USD-backed stable coin issued by Binance.
Binance USD Market Cap
24h Trade Volume
Supply
All-Time-High (ATH) Price
Binance USD's current price is $ 1.00, it has increased +0.06% over the past 24 hours.
Binance USD's All Time High (ATH) of $ 1.18 was reached on 13 Mar 2020, and is currently -15.2% down.
The maximum supply of Binance USD that will ever be issued is 12.76 Billions tokens, and the current supply of BUSD in circulation is 12.76 Billions tokens.
Binance USD’s 24 hour trading volume is $ 7.99 Billions.
Binance USD's current share of the entire cryptocurrency market is 0.49%, with a market capitalization of $ 12.77 Billions.
You can find more details about Binance USD on its official website and on the block explorer.
Binance USD Price
Binance USD price Index provides the latest BUSD price in US Dollars , BTC and ETH using an average from the world's leading crypto exchanges.
The Binance USD to USD chart is designed for users to instantly see the changes that occur on the market and predicts what will come next.
BUSD to USD Converter
What is Binance USD
Binance USD (BUSD) is a fiat-backed stablecoin that acts as a digital version of the U.S. dollar, it is pegged 1:1 at to USD. It is approved by the New York State Department of Financial Services (NYDFS) and was launched in partnership with Paxos and Binance in 2019. Paxos is the USD custodian and issuer of BUSD.
What are Binance USD’s key features and how does it work?
BUSD is part of a category of fiat-backed stablecoins, rather than the alternative crypto-backed stablecoins that use crypto assets for their reserves, for example, DAI. In BUSD’s case, Paxos holds equal reserves of USD which are exchangeable for BUSD. Paxos releases regular audits, demonstrating its USD reserves match the supply of BUSD 1:1.
To keep the peg stable, Paxos burns BUSD tokens sent to them in exchange for the fiat currency, or it will mint new tokens for users in exchange for depositing USD, or PAX, on the Paxos platform. In cases where BUSD price moves lower than $1, arbitrageurs purchase large quantities of the stablecoin and then convert it back into USD through cashing it in via Paxos. This increase in demand will naturally raise the price and restore the 1:1 peg.
The token itself exists on three different blockchains: Ethereum, Binance Smart Chain (BSC), and Binance Chain. There are also wrapped, or bridged, versions of BUSD on other chains, like Solana or Polygon, where it is not a native token. These versions are pegged to BUSD’s value. Holders can swap tokens between the blockchains depending on their needs. This can be done via the Binance exchange, for withdrawals, or Binance and other bridges.
What can Binance USD be used for?
BUSD offers three key attributes: accessibility, flexibility, and speed. Binance USD is easy to obtain through Binance itself or Paxos.
BUSD means users can lock in gains without needing to convert to fiat. Crypto users can quickly and conveniently turn their holdings into stable assets whilst remaining on the blockchain and therefore can avoid price fluctuations in crypto markets. Furthermore, by using BUSD and its compatible exchanges, money can be sent quickly around the globe.
BUSD can also be used for arbitrage. Since it is a popular stablecoin and is found on many automated market makers on BSC, liquidity pools may provide opportunities for arbitrage traders. Prices may differ from AMM to AMM, thus arbitrage traders can make use of its wide availability and quickly swap between exchanges.
Where can you buy Binance USD?
BUSD is available for purchase through Binance’s exchange or fiat gateway services or Paxos minting service. It is also available on various swaps. Available DEX’s and CEX’s can be found here.