BUSD

What is BUSD and how Does It Work?

Binance USD (BUSD), a token pegged to the US dollar, is an ERC-20 token on the Ethereum blockchain. BUSD maintains a 1:1 ratio to USD and aims to link traditional finances with the token ecosystem. BUSD can be purchased and redeemed directly at a rate of 1 BUSD for 1 USD. The issuer and custodian of BUSD is financial institution Paxos, verifying each BUSD token with physical USD holdings. The New York State Department of Financial Services (NYDFS) acknowledges BUSD, evidencing its compliance with regulatory protocols in New York and allowing its use within the state. BUSD can be utilized as a medium of transaction in digital token trading, lending to its potential as a reliable entity. Besides use in remittances and payments, BUSD serves purposes in trading and has compatibility across distinct platforms for accessibility. The BUSD contract is available on GitHub, encouraging community participation. A collaboration with Binance further illustrates BUSD's reputation. As one of many tokens in the market, BUSD seeks to provide compatibility between traditional finance and the digital asset world.

The Vision and Mission Behind BUSD

BUSD is an ERC-20 token issued by Binance, also supported on Binance Chain as a BEP-2 token. As a type of stablecoin, it is linked to the United States Dollar at a 1:1 ratio. This token may be used in both the Ethereum and Binance Chain ecosystems. It has received official recognition from the New York State Department of Financial Services(NYDFS). It's designed to mirror the value of the U.S. dollar, aiding in both on-chain and off-chain forex activities. It serves a variety of purposes, including acting as a medium of exchange and finding utility in DeFi applications.

How to Buy and Store BUSD?

To purchase BUSD, Flooz.xyz offers a streamlined process that serves as a one-stop solution. With a smooth checkout and support for all payment methods, Flooz.xyz makes it effortless for traders to acquire BUSD without the need for a separate wallet. But that's not all. Using Flooz self-custodial web wallet, you can enjoy seamless transactions, including storing, sending, and receiving tokens like BUSD. Creating a self-custodial wallet directly on Flooz takes only seconds, utilizing your email, Google, or Apple ID. This not only provides convenience but also grants you full control and access to your funds at all times, thanks to the power of cryptography. Moreover, Flooz.xyz boasts aggregation features that ensure you have access to the fastest and cheapest payment routes for your BUSD trades. This seamless and optimized trading experience has captivated over 85,000 active traders on Flooz.xyz.

BUSD Metrics:

• Current price: $0.9967

• Market cap: $68 M

• All-time high: being indexed (being indexed)

• All-time low: being indexed (being indexed)

• Daily trading volume: $619