Review on Binance USD by Paul Maduagwu
$BUSD is a highly trusted Stablecoin.
Binance USD $BUSD is a highly stable Stablecoin, which means its value is pegged to $1. It is the Stablecoin product of Binance, a crypto-based project. $BUSD is important for traders wanting to secure their gains or cut their losses during high volatility of non-stablecoin cryptocurrency. It is also useful to make payment without worrying about price changes.
It was first issued as ERC-20, but now is also available as BEP-2. Unlike decentralized options it is fully backed by US dollar and is US-regulated as is stated by Binance also. Which makes it a safe option to keep your funds stable, but also a very centralized option.
Pros
- Listed on popular centralized and decentralized Exchanges.
- Available on multiple blockchains like Ethereum and Binance blockchains.
- High Stability.
- High 24 hour trading volume.
- Backed by Binance, a trusted company.
- Wallet support on all ERC-20 and BEP-2 compatible wallets.
Cons
- Regulated and centralized.
