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Binance USD (BUSD) exchange rate

Price for today

1 USD -0,09%

0,00005225 BTC -1,86%

Market Cap
20,512,435,816 $
Volume 24h
8,353,566,035 $
  • Name: Binance USD

  • Symbol: BUSD

  • Circulating supply: 20 517 253 000 $

  • Max supply: 0 $

  • Cmc rank: 7

  • Volume 24h: 8 353 566 000 $

  • Percent change 1h: -0,03 %

  • Percent change 24h: -0,09 %

  • Percent Change 7d: -0,07 %

about Binance USD

Launched in 2019, Binance USD is a stablecoin which was introduced by Binance in collaboration with Paxos. Paxos is a regulated infrastructure for building financial institutions that enables movement between physical and digital assets. With the main office in Switzerland, this unique cryptocurrency is fully regulated and approved by the key US regulatory authorities, such as NYDFS. The BUSD project’s main goal is to merge USD dollar stability with the advantages of blockchain technology. The project’s native ERC-20 token functions as a one-to-one stable coin backed by USD. This digital coin is widely used in decentralised finance and financial operations, which include transactions, settlement mechanisms, and others. 

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What Is Binance USD (BUSD)?

Volatility plays a vital role in the crypto world, so many developers aim to develop a crypto that will be backed by a more stable asset, such as USD. This is how Binance USD (BUSD) came into being.

If you want to learn more about Binance USD and find the best possible online crypto exchange where you can trade this cryptocurrency, make sure to read our guide carefully. 

In short, Binance USD is a stablecoin. Essentially, it means that its value won’t go up and down every moment but will remain stable most of the time. This is achieved by pegging its value to the American dollar, which means that one BUSD crypto will be worth $1, with slight ups and downs happening here and there.

BUSD crypto is not the first stable coin out there, as the most popular option at the moment is definitely Tether (USDT). However, Binance USD aims to become more popular as it comes with several other unique features, which we’ll describe below.

First of all, BUSD is one of the digital currencies created by Binance, one of the industry-leading cryptocurrency platforms at the moment. Binance joined forces with Paxos, a blockchain platform that’s completely regulated to create BUSD. Binance users can buy Binance USD with fiat money on Binance with no additional fees in the process. Paxos also offers a sort of BUSD exchange that lets you swap Binance USD to USD. 

Second, this 1:1 USD-backed stablecoin is approved by the New York State Department of Financial Services (NYDFS), meaning that the coin is licensed and regulated by an official regulatory body. Not many other currencies are in this elite group. The NYDFS publishes a monthly audit report on its official service, meaning it makes continuous control of BUSD to ensure that it’s working properly.

Finally, Binance USD is issued as an ERC-20 token, but it’s also supported by BEP-2, making it an all-around cryptocurrency. ERC-20 has emerged as the technical standard; it is used for all smart contracts on the Ethereum blockchain for token implementation and provides a list of rules that all Ethereum-based tokens must follow.

In short, it’s safe to say that BUSD aims to be the most stable of all stablecoins out there, with all regulations and support from the big players in the industry. It can be considered a type of digital fiat currency and is already available for exchange on many world-leading platforms. If stability is what you look for in cryptos, Binance USD is a crypto to be taken into account, as it will always be around $1. BUSD can’t be obtained by mining, so you can buy it or exchange. 

Binance USD Price Index

Binance USD isn’t like other cryptocurrencies to discuss price ups and downs, as they were mostly $1. That said, we analyzed the BUSD price chart and found out some minor fluctuations of this cryptocurrency. This affected the overall price and made it slightly increase or decrease. For example, there were periods when the price fell to $0.95 but also when it increased to $1.05. Still, the fluctuations were much smaller compared to other non-stable cryptocurrencies. Nowadays, if you want to convert Binance USD to USD, you’ll most certainly get $1.

As of August 2021, the Binance USD total market cap is around $12 billion, making it the 12th most popular cryptocurrency in the world. What’s more, BUSD still enjoys huge support from network, and there’s room for the crypto to grow even more in the future. Still, BUSD has been around since September 2019, so it’s relatively new, and it’s still early to make any kind of conclusion regarding its price (and overall state) in the future.

If you want to become a day trader of cryptocurrencies, Binance USD’s stability might not be its greatest asset in the short term. Namely, traders mostly profit from the sudden price movements of non-stable cryptos, such as Bitcoin, Ethereum, and others, and that’s simply not possible with BUSD.

Speaking of non-stable cryptos, the leading ones — mainly Bitcoin and Ethereum — are still miles ahead in terms of popularity, despite still lacking stability.

Circulation of Binance USD

Most non-stable cryptocurrencies have a clearly defined difference between the total supply and circulating supply. The circulating supply shows the number of coins that are already minted and are actively circulating among traders. Since most cryptocurrencies are finite, the total supply shows the number of coins that can ever be minted.

There’s no max supply for Binance USD. New coins are minted and existing ones burned to maintain Binance USD price USD 1. Burning is the process of sending usable tokens to an unusable account, where they basically become unusable themselves and are “locked” forever (they are burned). The entire process is a bit different for BUSD, and we’ll explain it in the FAQ section. 

The current circulating supply of Binance USD tokens is 12.01 billion BUSD (as of 13th August 2021), but that can change very soon.

Ways of Buying BUSD

If you want to make a quick and efficient BUSD exchange, you must select a cryptocurrency exchange platform that supports this token. One of the best sites for swapping cryptos is Godex, where you can purchase this token with many other cryptos that are supported on the site. Moreover, you’ll get the best Binance USD price, as Godex scans the exchange rates of the leading crypto exchanges and always shows the best one at any given moment.

There are also other useful platforms where you can exchange BUSD. The most popular one for this crypto is definitely Paxos, which is also a company that supported the development of this token.

F.A.Q.

How Does BUSD Work?

BUSD is kept at $1 with the following process. If the price drops below $1, arbitrage traders will buy plenty of coins to increase their price. It’s basically how they make a profit, as every BUSD can be burned and exchanged for $1 on Paxos. Even if the price drops at just $0.99 and they sell it for $1, they’ll make a profit. An increase in demand will also increase the Binance USD price back to 1:1.

How Many Binance USD (BUSD) Coins Are There in Circulation?

At the moment, there is 12.01 billion BUSD in circulation. However, BUSD is different from other cryptocurrencies as it doesn’t have a clearly defined max supply. Instead, the total number of coins ensures that the price remains pegged to USD. Traders can burn the existing tokens on Paxos and exchange them for $1 to increase demand and maintain the price. 

How to Exchange Binance USD (BUSD)?

Before you start to exchange BUSD, you need to decide whether you want to buy or sell it. Next, go to Godex and select BUSD in one of the two available fields (depending on whether you’re buying or selling). Once you specify the amount, you want to trade, enter the destination wallet address, make a deposit, and proceed with the transaction. There’s no need to register or leave any sensitive data on the site. Think of Godex as a sort of BUSD converter.

Godex is a great Binance USD exchange that will let you convert BUSD for many other cryptocurrencies. It’s a completely anonymous platform that features fixed rates and unlimited trading limits. Moreover, Godex is a beginner-friendly platform that makes the entire exchange process much easier than Binance and other platforms that may seem complex to newcomers.

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