How to Exchange Binance USD (ERC20) (BUSD)

How Much Binance USD (ERC20) Can I Exchange on Exchang.io?

Exchanging Binance USD (ERC20) on Exchang.io is unlimited. You can start swapping BUSD right now starting from the lower limit of ≈ $3.

There are no upper limits for Binance USD (ERC20) exchanges at Exchang.io. Exchange Binance USD (ERC20) with other cryptocurrencies from the list of over 700 coins as much as you want to.

Cross-chain exchanges are available; just choose any coin on any network and click the Exchange button, and we'll do the rest for you

What is Binance USD (ERC20)?

Binance USD (BUSD) is a stablecoin issued by Binance, one of the world's largest cryptocurrency exchanges. BUSD was launched in September 2019 and is available as an ERC-20 token on the Ethereum blockchain.

As a stablecoin, BUSD is designed to maintain a stable value of 1 US dollar. This stability is achieved by backing each unit of BUSD with an equivalent amount of US dollars held in reserve accounts audited monthly by third-party financial firms.

BUSD can be used for a variety of purposes, including peer-to-peer transactions, payments, remittances, and trading. The stablecoin's low volatility makes it an attractive option for traders and investors looking to avoid the price fluctuations commonly associated with other cryptocurrencies.

BUSD is also designed to comply with regulatory requirements, such as anti-money laundering (AML) and know-your-customer (KYC) rules. This compliance helps to make BUSD more widely accepted in traditional finance and facilitates its adoption in mainstream markets.

BUSD can be traded and stored on various cryptocurrency exchanges, wallets, and platforms that support ERC-20 tokens. Some popular exchanges that list BUSD include Binance, Huobi, Kraken, and Bitfinex.

In addition to the ERC-20 version of BUSD, there are also versions of the stablecoin available on other blockchains, including Binance Chain and Solana. These multi-chain versions of BUSD provide users with more flexibility and interoperability across different blockchain ecosystems.

BUSD has also been integrated into various decentralized finance (DeFi) protocols, such as Compound and Aave, allowing users to earn interest on their BUSD holdings or borrow the stablecoin against collateral.

One potential drawback of BUSD is the centralized nature of its issuance and control. Unlike decentralized stablecoins like Dai, which are governed by decentralized autonomous organizations (DAOs), BUSD is managed by a centralized entity, Binance.

Another potential risk associated with BUSD is the possibility of a black swan event, where the stablecoin's backing reserves are insufficient to redeem all outstanding BUSD units in circulation. However, regular audits and transparency measures can help to mitigate this risk.

Overall, BUSD is a popular and widely used stablecoin that offers users a stable and secure way to hold and transfer value on the blockchain. Its compliance with regulatory requirements and integration with various DeFi protocols make it a versatile and attractive option for many users.

Brief History of Binance USD (ERC20)

Binance USD (ERC20) or BUSD is a stablecoin launched by Binance, one of the world's largest cryptocurrency exchanges, in September 2019. It was created as a joint venture between Binance and Paxos Trust Company, which issued and custodied the tokens.

The BUSD token is built on the Ethereum blockchain as an ERC-20 token, making it compatible with any other platform that supports the ERC-20 standard. This makes it easy for users to transfer BUSD to and from other Ethereum-based tokens and platforms.

The primary purpose of BUSD is to provide Binance users with a stable digital asset that can be used for trading and transactions without the volatility associated with cryptocurrencies like Bitcoin or Ethereum. Each BUSD token is pegged to the value of 1 US dollar, which is maintained through regular audits of the token's reserves.

Binance USD has quickly gained popularity among traders due to its stability and ease of use. The token can be used to buy other cryptocurrencies on Binance, or to pay for goods and services at any merchant that accepts BUSD.

The launch of BUSD was preceded by a number of other stablecoins that have been introduced in recent years, including Tether (USDT), TrueUSD (TUSD), and USD Coin (USDC). However, BUSD has been able to stand out due to its close association with Binance, which has helped to promote the token and build trust among users.

In addition to being pegged to the US dollar, BUSD offers other advantages over traditional fiat currencies. For one thing, it can be transferred instantly anywhere in the world, without the need for intermediaries like banks or payment processors.

Another advantage of BUSD is that it is fully backed by US dollars held in reserve by Paxos, which are regularly audited by third-party firms to ensure transparency and accountability. This means that users can be confident that their BUSD tokens are always worth exactly one US dollar.

Binance USD has also been integrated with a number of other platforms and services, including the Brave browser, which allows users to earn BAT tokens by viewing ads, and the Swipe wallet, which enables users to spend BUSD at over 50 million merchants worldwide.

Since its launch in 2019, BUSD has grown rapidly in popularity, with the total supply of tokens increasing from 0 to over 12 billion in just two years. The token has also been listed on numerous exchanges, making it accessible to a wide range of users around the world.

In addition to its success as a stablecoin, BUSD has also played an important role in the growth and development of the broader cryptocurrency ecosystem. By providing a stable digital asset that can be used for trading and transactions, BUSD has helped to bridge the gap between traditional finance and the world of cryptocurrencies.

Looking ahead, the future of BUSD looks bright, with plans underway to expand its use cases and integrate it with even more platforms and services. As the world becomes increasingly digital and decentralized, there is no doubt that stablecoins like BUSD will continue to play an important role in shaping the future of finance and commerce.

Binance USD (ERC20) Key Advantages and Unique Features

Binance USD (BUSD) is a stablecoin that was launched by the world's largest cryptocurrency exchange, Binance. BUSD is an ERC20 token built on the Ethereum blockchain, which means it operates using smart contracts and enjoys all of the benefits of the Ethereum network.

One of the key advantages of BUSD is its stability. Unlike other cryptocurrencies whose value can fluctuate wildly in a short period, BUSD is pegged to the US dollar at a 1:1 ratio. This means that one BUSD is always worth one US dollar, making it an excellent tool for people who want to hold their assets in a stable currency.

Another unique feature of BUSD is its transparency. The amount of BUSD in circulation is regularly audited by third-party accounting firms, ensuring that the supply is always backed by an equal amount of US dollars held in reserve. This gives users confidence that they are dealing with a trustworthy stablecoin.

BUSD also has low transaction fees compared to some other cryptocurrencies, making it an affordable option for people who want to transfer money quickly and cheaply. In addition, because it is built on the Ethereum network, BUSD is compatible with a wide variety of wallets and exchanges, making it easy to use and trade.

BUSD is also highly liquid, meaning that it can be easily converted back into US dollars or other cryptocurrencies without significant delays or costs. This makes it an attractive option for people who need to move funds quickly across borders or who want to diversify their cryptocurrency holdings.

Moreover, BUSD offers a high degree of security. Because it is built on the Ethereum blockchain, it enjoys the same level of security as other Ethereum-based tokens. Additionally, BUSD is subject to Binance's robust security measures, including two-factor authentication and anti-phishing protection, which help to keep user accounts safe from unauthorized access.

BUSD is also highly regulated, with Binance working closely with regulators to ensure that the stablecoin complies with all relevant laws and regulations. This gives users peace of mind that they are dealing with a stablecoin that is fully compliant with the law.

BUSD also allows for rapid transactions, as it can be transferred instantly between users anywhere in the world. This makes it an ideal tool for people who need to make fast payments or settle transactions quickly, without having to wait for banks or other intermediaries to process their transfers.

Additionally, BUSD is available on multiple blockchains, including the Binance Smart Chain, providing users with more options for where they can store and transact with their funds. This ensures that BUSD remains accessible and easy to use for a wide range of users.

BUSD has a wide range of use cases, from buying goods and services online to settling trades on cryptocurrency exchanges. It can be used by businesses and individuals alike, making it a versatile tool for anyone looking to hold assets in a stable currency.

Finally, BUSD is backed by the reputation of Binance, one of the most trusted names in the cryptocurrency industry. Binance's rigorous security measures and commitment to regulatory compliance have earned it a reputation as a reliable and trustworthy exchange, which helps to further boost confidence in the BUSD stablecoin.

In summary, BUSD offers stability, transparency, low fees, high liquidity, security, regulation compliance, rapid transactions, availability on multiple blockchains, versatility, and the backing of a well-respected exchange. These features make BUSD an attractive option for anyone looking to hold their assets in a stable currency, whether they are individuals, traders, or businesses.

10 Facts About Binance USD (ERC20)

Binance USD (BUSD) is a stablecoin issued by the cryptocurrency exchange Binance.

BUSD is an ERC-20 token that runs on the Ethereum blockchain, making it compatible with any wallet or platform that supports ERC-20 tokens.

The primary purpose of BUSD is to provide traders with a stable and secure means of exchanging value within the Binance ecosystem.

BUSD is pegged to the U.S. dollar on a 1:1 basis, meaning that one BUSD is always worth one dollar. This stability makes BUSD an attractive option for traders looking to hedge against market volatility.

BUSD is audited regularly by a third-party accounting firm to ensure that every BUSD token in circulation is backed by the equivalent amount of U.S. dollars held in reserve.

Binance charges no fees for depositing or withdrawing BUSD, making it a cost-effective way to move funds between different cryptocurrencies or fiat currencies.

BUSD can be used to pay for goods and services at any merchant that accepts cryptocurrency payments.

BUSD transactions are processed quickly and securely thanks to the high speed and security of the Ethereum blockchain.

BUSD can also be swapped for other cryptocurrencies on the Binance exchange, allowing users to quickly and easily trade between different digital assets.

As of June 2023, BUSD has a market capitalization of over $12 billion and is one of the most popular stablecoins on the market.

What is the Best Place to Exchange BUSD?

Via Exchang.io service you can effortlessly swap Binance USD (ERC20) for over 700+ different assets. Begin by selecting BUSD and your desired coin, paying attention to the network when making your choice. Next, provide the recipient's wallet address for the coin you're swapping to, and press 'Exchange' to continue. Deposit the required amount of BUSD to the address displayed on the screen, ensuring you have the necessary amount to finalize the transaction. Once completed, check your wallet to confirm the arrival of your newly acquired coin. Exchang.io makes exchanging Binance USD (ERC20) simple and convenient, allowing you to enjoy a seamless experience with an extensive selection of coins to choose from.

Do I need to create an account on Exchang.io to swap Binance USD (ERC20)?

No, you don't need to create an account or provide any personal information to use Exchang.io's registration-free service. Just follow the simple steps and exchange your crypto for Binance USD (ERC20).

How long does it take to exchange Binance USD (ERC20) on Exchang.io?

The exchange process on Exchang.io is usually completed within a few minutes. However, the actual time may vary slightly depending on network traffic and transaction confirmation times.

What is the minimum amount needed to swap busd on Exchang.io?

There is a minimum amount required to exchange Binance USD (ERC20) on Exchang.io, although this amount may change. It's recommended to check the platform for the latest requirements.

Is Exchang.io legit? Why should I trust Exchang.io?

Yes, Exchang.io is a legitimate exchange platform run by crypto enthusiasts with over 7 years of industry experience. The platform is designed to be convenient, fast, and transparent, and customer reviews can be found on the Exchang.io website.

What are some popular trading pairs for Binance USD (ERC20)?

Popular Binance USD (ERC20) trading pairs on Exchang.io include BUSD/BTC, BUSD/ETH, BUSD/LTC, and BUSD/USDT among others.

Are cross-chain exchanges available for Binance USD (ERC20)?

Yes, Exchang.io supports cross-chain exchanges for Binance USD (ERC20). Users can exchange this cryptocurrency for any other coin on any network simply by clicking the ‘Exchange’ button.