Cryptocurrency Q&A How does Binance USD work?

How does Binance USD work?

Stefano Wed Oct 09 2024 | 5 answers 893

Binance USD (BUSD) is a stablecoin issued by Binance, pegged to the US Dollar at a 1:1 ratio. It works through a reserve mechanism, backing each BUSD with a corresponding USD held in reserve. BUSD provides users with a cryptocurrency that maintains a stable value, facilitating transactions and reducing volatility risks. How does Binance USD work?

How does Binance USD work?

binance usd how does it work cryptocurrency

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