Review on Binance USD by Olugbenga Ajayi
Binance USD is a well regulated and audited stablecoin
BUSD is a stablecoin that is pegged 1:1 with USD. It was founded by Paxos and Binance for the purpose of facilitating a crypto that can resist volatility of the market and also be suitable for multiple use cases. The stablecoin(BUSD) is an erc-20 on ethereum network and as we know, it is useful in defi, dapps and many others.
I have been reading BUSD on exchanges like binance and I have personally found it rewarding. I am not in anyway afraid because the coin is backed by USA financial regulatory bodies and it is also audited.
Even though there are many other stablecoins out there, I believe that binance USD is up to the task considering the team behind it and their record of transparency.
Pros
- It is backed by USA financial regulatory body
- It was established by major stake holders in cryptocurency realm
- It can be used to hold the value of ones digital assets away from volatility of the market
- It has many use cases
Cons
- It is relatively new and it is somehow behind the earlier stablecoins
