I want to understand the purpose of BUSD. I'm curious about its function and the role it plays in the crypto ecosystem. Why was it created and what are its main uses?
5 answers
Bianca
Tue Oct 29 2024
This digital asset combines the benefits of blockchain-based transactions with the stability of traditional fiat currencies.
GyeongjuGrace
Tue Oct 29 2024
By using BUSD, users can enjoy the speed and efficiency of blockchain transactions while minimizing the risk of price volatility.
Elena
Tue Oct 29 2024
BUSD tokens are issued on the Ethereum blockchain in compliance with the ERC-20 standard, ensuring compatibility with a wide range of wallets and exchanges.
Filippo
Tue Oct 29 2024
Binance USD (BUSD) represents a unique type of cryptocurrency known as a fiat-collateralized stablecoin.
GeishaMelody
Tue Oct 29 2024
The stability of BUSD is achieved through a 1:1 collateralization ratio with USD, which is held in US bank accounts owned by Paxos.