What is Binance USD? Is it safe? – Katoch Tubes

Binance USD. The stablecoin

Binance USD. The stablecoin

What is BUSD?

BUSD is a stablecoin operating on Binance Smart chain & other blockchains. It was created by Paxos & Binance.

How does it work?

Approved by New York State Department of Financial Services (NYDFS). It works on 1:1 US peg i.e  1BUSD = 1USD

Can you mine BUSD?

BUSD is a stablecoin & is backed by equal value of USD reserve. It is not a mineable asset. Like USD, its supply is unlimited.

Difference between USDT and BUSD?

Its the company governing these assets. Checkout USDT -

What about USDC? Is it Safe?

USDC is a stablecoin by Centre Consortium between Circle & Coinbase. Check details-

How secure is BUSD?

BUSD is more transparent & secure than USDT. Every month an auditing firm review its BUSD and USD supply to ensure its stability & security

Does BUSD work on Ethereum?

Yes, BUSD is issued as ERC20 token on Ethereum blockchain  & can be used as  a replacement of USDT

Can u convert BUSD to USD?

BUSD is USD in digital form. Since it mimics the value of USD. It can be easily converted to USD during withdrawals.


BNB is the currency of Binance Smart Chain while BUSD is a stablecoin. Checkout BNB details -

Is Binance USD a good investment?

BUSD is a stablecoin that will never appreciate because of USD peg. Use it to invest in cryptos & hedge against volatility.

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