Convert BUSD to USD
List of cryptocurrencies and tokens supported by PassimPay crypto wallet. Secure storage for a variety of digital assets.
btcBitcoin
tonToncoin
ftnFasttoken
ltcLitecoinbusdBinance USD
ethEthereum
bchBitcoin Cash
zecZcash
dogeDogecoin
bnbBinance Coin
usdtTether
trxTron
usdcUSD Coin
xrpRipple
usddUSDD
eosEOS
adaCardano
shibShiba Inu
dashDash
hftHashflow
dydxdYdX
linkChainlink
aaveAave
crvCurve DAO Token
achAlchemy
maticPolygon
daiDai
nearNEAR Protocol
atomCosmos
twtTrust Wallet
dotPolkadot
avaxAvalanche
flowFlow
ksmKusama
solSolanaWhat Is Binance USD?
Binance USD (BUSD) is a stablecoin backed by the Binance platform in partnership with Paxos. It is pegged to the US dollar, making its value stable and tied to the fiat currency at a 1:1 ratio.
Overview of BUSD
BUSD was created in 2019 and is regulated by the New York Department of Financial Services. This means each BUSD token is fully backed by US dollar reserves and regularly audited to confirm its safety. In February 2023, after the SEC notified Paxos that BUSD was considered an unregistered security, the NYDFS ordered Paxos to stop issuing BUSD. Paxos complied and ceased mining, ending its partnership with Binance.
How does Binance USD work?
BUSD operates on the Ethereum and Binance Smart Chain (BSC) networks, making it convenient for use in various decentralized applications (dApps) and marketplaces.
Using and Advantages of BUSD
BUSD is actively used for trading, lending, staking, and other operations where users seek price stability. It is particularly useful for protecting capital from the volatility of the cryptocurrency market.
Storing BUSD
The stablecoin can be stored in various wallets supporting ERC-20 and BEP-20 standards, such as Trust Wallet or MetaMask. However, the most reliable way to store BUSD is by using the PassimPay wallet. With PassimPay, users can access their funds at any time with just a few clicks. At the same time, PassimPay guarantees the security of funds and user information through reliable data protection systems, constant IP monitoring, and access control. More information about PassimPay’s security can be found on the Security page.