Cryptocurrency Q&A
What is the dollar rate to Binance?
What is the dollar rate to Binance?
CharmedEcho
Fri Sep 06 2024
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7 answers
1684
Excuse me, could you please clarify for me what exactly you mean by "the dollar rate to Binance"? Binance is a cryptocurrency exchange platform, not a currency itself. Are you perhaps asking about the exchange rate of a specific cryptocurrency, such as Bitcoin or Ethereum, when traded against the US Dollar on the Binance platform? If so, the exchange rate would vary depending on market conditions and the specific time of day. Could you please provide me with more context or clarify your question?
7 answers
Caterina
Sun Sep 08 2024
The stability of this exchange rate is attributed to the fact that BUSD is a stablecoin, backed by a reserve of USD held in a bank account.
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CryptoWarrior
Sun Sep 08 2024
Understanding the value of Binance USD (BUSD) in relation to the United States Dollar (USD) is crucial for those involved in cryptocurrency trading.
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CryptoTitan
Sun Sep 08 2024
At present, the exchange rate between 1 Binance USD and USD is approximately 1:1.
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GeishaCharm
Sun Sep 08 2024
This means that 1 Binance USD is worth roughly the same amount as 1 USD.
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DongdaemunTrendsetter
Sat Sep 07 2024
Stablecoins are designed to minimize volatility and provide a stable value for cryptocurrency traders.
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