How to buy Binance USD (BUSD) in Australia
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How to buy Binance USD
Look for an exchange that supports both fiat and cryptocurrency to simplify buying Binance USD.
- Open an account on an exchange that supports BUSD.
Jump to our table to compare popular options — just remember that most exchanges require an email address, phone number and proof of ID to register.
- Deposit funds into your account.
Fund your account with a bank transfer, pay with a credit or debit card or deposit cryptocurrency from a crypto wallet to buy Binance USD.
- Buy Binance USD.
Complete your Binance USD purchase and then find the best wallet to store BUSD.
What is Binance USD?
Binance USD is a US-dollar-backed stablecoin created to bridge the gap between traditional finance and the world of cryptocurrencies. It is the first of 3 US dollar stablecoins to be approved by the strict New York State Department of Financial Services (NYDFS).
In September 2019, the cryptocurrency was issued in a joint effort from Paxos, a blockchain infrastructure platform, and Binance, the cryptocurrency exchange. The token is pegged 1:1 with the US dollar, with every BUSD issued resulting in the addition of 1 USD being added to Paxos reserve accounts. If a user purchases 1,000 BUSD, 1,000 BUSD will be minted and $1,000 will be added to Paxos reserves. The 1,000 BUSD are then burned when the user sells.
Although built as an ERC-20 token, meaning it was developed for the Ethereum blockchain, it also now transacts across the Binance BEP-2 token system.
Binance USD (BUSD) is the 18th largest cryptocurrency in the world by market cap, valued at $12,862,343,432. The current price of Binance USD is $1.01, which is -0.030% lower than yesterday. Prices have ranged between $1.01 and $0.998769 over the past 24 hours. All prices are listed in US dollars and accurate as of October 26, 2021 04:10 UTC.
Where to buy Binance USD
Find an exchange to buy, sell and trade BUSD by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
Is it a good time to buy Binance USD?
The technical analysis gauge for Binance USD displays real-time ratings for the timeframes you select. This is not a recommendation to buy, sell or trade. It represents a technical analysis of Binance USD based on the most popular technical indicators: Moving Averages, Oscillators and Pivots. Finder might not concur and takes no responsibility.
This chart is not advice or a guarantee of success. Rather, it gauges the real-time recommendations of three popular technical indicators based on the performance of Binance USD: moving averages, oscillators and pivots. Finder is not responsible for how BUSD performs.
Binance USD at a glance
|Total BUSD supply||12,775,099,763|
|All time high||US$1.15|
|Network||Ethereum, Binance Smart Chain|
Binance USD price performance over time
How to sell Binance USD
You can cash out your BUSD with the same exchange you bought it through:
- Sign in to the exchange you have BUSD on.
If you store your Binance USD in a digital wallet, compare crypto exchanges to sell it on.
- Place a sell order.
Choose the amount of BUSD you'd like to sell.
- Complete your transaction.
Confirm the sell price and fees and close your sale of Binance USD.
What to consider when buying Binance USDBUSD is an attempt at creating a US-dollar-backed stablecoin, but there are differentiators that set it apart from similar USD stablecoins. Make sure you consider the following before purchasing BUSD:
- Regulation: The token is one of few regulated stablecoins and it complies with all the regulatory framework set out by the NYDFS. This can be seen as both a strength and a restrictive weakness.
- Centralised: Paxos implements a "Set Law Enforcement Role" that can restrict and control accounts that do not comply with NYDFS requirements. In this sense, the BUSD token is not quite decentralised.
- Audits: The token is audited by the NYDFS every month to provide transparency for users.
Binance USD (BUSD) in the news
Crypto Assets: Ethereum Is The Common Denominator
WisdomTree Adds Bitcoin Futures to Existing ETF
Helium partners with Dish Network to expand its crypto-based distributed 5G platform
Disclaimer: Cryptocurrencies, including Binance USD, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of BUSD is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Binance USD or any other cryptocurrency discussed.
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