Review on Binance USD by francis fernandez
Binance USD - A Stable Currency for Global Crypto Asset Trading
Binance USD is a digital asset known by its acronym BUSD, which serves as an instrument to allow the exchange of crypto assets through blockchain technology that combines the best of two large networks: Paxos and Binance.
What are the benefits of this cryptocurrency?
Its main advantage is that it is a stable value coin with 1: 1 equivalence to the US dollar, that is, 1 BUSD = 1 USD. Therefore, BUSD's issuance is fully backed by dollar reserves in US banks and is subject to regulation by the New York Department of Financial Services. These funds are audited monthly by a recognized auditing firm. Among its many uses we can mention:
* Used to buy FIAT currency (dollar) through a cryptocurrency and vice versa.
* It allows to carry out commercial operations quickly, at a lower cost and worldwide.
* Due to the two platforms that support it, it is compatible with ERC-20 and BEP-2 tokens, which opens up more market options.
* Allows users to transact with zero fee between Paxos and Binance.
* Allows the fund holder to earn interest on loans on Binance.
* Provides the opportunity to trade with multiple currencies and low fees.
* Allows conversion and exchange between multiple crypto assets.
Where to get the cryptocurrency?
Due to its exchange rate it is possible to trade the currency and acquire it on multiple exchange platforms. In addition, his duplication of Binance and Paxos platforms open up a valuable market of opportunities for him to trade, exchange and trade.
It offers unparalleled exchange rate triparity by combining BUSD, Pax and US dollars in a single cryptoasset.
Commissions:
Another advantage of this currency is the savings in commissions that it represents for users who use Paxos and Binance and those who trade crypto assets.
Pros
- Offers cryptocurrency holders protection against market volatility; being a currency linked to FIAT money.
- It allows making exchanges on multiple platforms and in different crypto assets with commission savings.
- Allows you to trade globally with a globally accepted currency.
Cons
- There are no disadvantages in its use.
