Review on Binance USD by Yenkelys Barcenas
Binance USD: A shining stablecoin for Latin America.
Binance USD is a cryptocurrency that is revolutionizing the crypto assets market, through the Binance platform, it is a blockchain that prevails in the American market and has established itself as one of the most solid and reliable organizations. Currently, one of the best options in digital currency that has been presented in the market is available, especially for those who seek to digitize their money quickly and easily: the BUSD a stablecoin that is directly linked to the US dollar on a basis of 1 : 1, at first glance you can think that it is a digitized dollar and therefore it is more advantageous when saving and protecting yourself from inflation, even above the fiat dollar, remember that the dollar acquisition process involves regulations banking that restrict users from many countries including the united states. In the USA, it has received the approval of the New York regulatory body, the New York State Department of Financial Services (NYDFS), thereby offering guarantees for its users and attracting the attention of a large number of additional followers.
For Latin America and the Caribbean, this currency is presented as an ideal solution to combat the inflation that is experienced in these countries since the BUSD being a stable currency protects its users from market variations and exchange controls that are common in the countries of this hemisphere; the currency does not undergo significant price variations. Another point in favor for Latin Americans is that it can replace accounts in dollars and this implies less headache for users, avoiding having to comply with the requirements of common banking, you just have to make your registration in binance get your stablecoin and start to carry out your operations with it: you can make purchases in many places you want, from air tickets, to multiple global stores through bitpay with the guarantee of institutional support. The BUSD purchase process is simple and instantaneous even for Venezuela, a country in a tough economic crisis, with its local currency (VES) the purchase can be made since it was added to the blockchain on its Binance P2P platform.
Technically it is a well-established bloackchain, and in association with Paxos Trust Company, Binance offers its users a range of opportunities in the crypto world: excellent prices, low commissions, simple and fast operations and good opportunities to exchange with the most valuable cryptocurrencies. existing and the best plus the backing of the US dollar. It has certainly been a great combination.
Pros
- It is directly linked to the US dollar.
- Local currency can be used to purchase BUSD without commissions, as well as transfer and send money at low costs.
- The BUSD is an ideal option for people who are not traders or users who are only interested in long-term returns.
- Its price does not undergo significant variations.
- It is supported and approved by the New York State Department of Financial Services (NYDFS).
- It is well accepted so exchange operations can be carried out on multiple platforms.
- Its projection in the digital market is excellent.
Cons
- There are no negative comments about this stablecoin.
