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What can you do with Binance USD?
Store/Hold Binance USD
Many users hold on to their Binance USD with the expectation of it increasing in value. You can store your BUSD safely on your Bitget account or on our crypto wallet app BG Wallet, the most user-friendly and secure mobile wallet.
Trade Binance USD
You can trade Binance USD for 150+ cryptocurrencies on Bitget’s industry-leading, fast, and secure trading platform. Bitget offers many trading pairs for Binance USD trading to meet your needs.
Send Binance USD
Yes, Bitget allows you to easily transfer value around the world, fast. You can buy Binance USD online and send to anyone and anywhere with their Binance USD address.
Spend Binance USD
You can also buy goods and services with your Binance USD. More and more vendors and retailers accept Binance USD every day.
Donate Binance USD
Bitget Charity accepts Binance USD donations for global projects that aim to improve the lives of people in the bottom billion. You can donate Binance USD so no one misses out on the growth made possible by blockchain.
Learn More About Binance USD
You can read more in-depth articles on Binance USD from Bitget Research and study how cryptocurrencies like Binance USD work on Bitget Academy
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What is Binance USD (BUSD)?
Binance USD, or BUSD for short, is a stablecoin released by Binance in collaboration with Paxos. BUSD is a fiat-backed stablecoin that aims to maintain the USD exchange rate of 1:1 with the support of Paxos' fiat reserves. Both Paxos and BUSD are registered with the New York State Department of Financial Services; therefore, user's benefits are relatively well-protected upon using BUSD compared to when using other unregulated stablecoins. BUSD is available on multiple blockchain platforms, including Ethereum, BNB Chain, Avalanche, and Polygon.
How Binance USD (BUSD) Works
Paxos' reserves ensure that 1 BUSD can be redeemed to 1 USD through the process of minting and burning BUSD. When you buy BUSD using fiat, the fiat is sent to the reserves and a corresponding amount of BUSD is minted and sent to your wallet. On the other hand, when you sell BUSD for fiat, the BUSD is burned and a corresponding amount of fiat is sent from the reserves to your wallet.
Since it is regulated, Paxos has to publish regular attestation reports about the state of their reserves and have the reports audited by a third party.
How Many Binance USD (BUSD) Tokens Are in Circulation?
Because the supply of BUSD is managed by the Paxos' reserves, there is no maximum supply. Regarding circulating supply, there is 21.04 billion BUSD in total.
How to Buy Binance USD (BUSD)
Consider investing in Binance USD (BUSD)? It only takes 2 minutes to create an account on Bitget and start trading BUSD.
Check out the available BUSD trading pairs on Bitget!
Spot market
Binance USD (BUSD) Resources
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