How to Buy Binance USD

BUSD (BUSD) cryptocurrency ranks at 567 place by capitalization. It’s 22 July 2024 on $70,766,230 year. Circulating supply: 69,511,464. Maximum supply – N/A. The price of BUSD for today – $1.018 with trading volume of $17,088.00 for 24 hours. The maximum price of BUSD was registered on 1 July 2024 year and was – $1.240. The lowest price of BUSD, $0.9011, was registered on 19 May 2021.
BUSD (BUSD)
$1.018 +0.15% ↑
24h price change
$0.0014930
Capitalization
$70,766,230
24h trading volume
$17,088.00
on the official website

How to Buy Binance USD Price in USD: Convert to US Dollar

BUSD
BUSDBUSDBUSD
BitcoinBTCBitcoin
EthereumETHEthereum
TetherUSDTTether
BNBBNBBNB
SolanaSOLSolana
Lido Staked EtherSTETHLido Staked Ether
USDCUSDCUSDC
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DogecoinDOGEDogecoin
ToncoinTONToncoin
CardanoADACardano
AvalancheAVAXAvalanche
TRONTRXTRON
Shiba InuSHIBShiba Inu
Wrapped BitcoinWBTCWrapped Bitcoin
PolkadotDOTPolkadot
ChainlinkLINKChainlink
Bitcoin CashBCHBitcoin Cash
NEAR ProtocolNEARNEAR Protocol
UniswapUNIUniswap
US Dollar
USD
US DollarUSDUS Dollar
/wp-content/themes/tgd/assets/images/content/flag_eu.svgEUREuro
/wp-content/themes/tgd/assets/images/content/flag_ru.svgRUBRussian Ruble
/wp-content/themes/tgd/assets/images/content/flag_ua.svgUAHUkrainian hryvnia
/wp-content/themes/tgd/assets/images/content/flag_pl.svgPLNPolish zloty
/wp-content/themes/tgd/assets/images/content/flag_gb.svgGBPPound sterling
/wp-content/themes/tgd/assets/images/content/flag_jp.svgJPYJapanese yen
/wp-content/themes/tgd/assets/images/content/flag_ch.svgCHFSwiss Franc
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on the official website
Data updated 7/21/2024

    Binance USD (BUSD) is a fiat-backed stablecoin pegged in rate 1:1 to the US dollar. BUSD is used inside and outside the Binance Ecosystem. Read more about where and how to buy Binance USD (BUSD).

    What is Binance USD

    Binance USD (BUSD) is a USD-backed stablecoin launched in partnership with Paxos and Binance. The coin is approved by New York State Department of Financial Services (NYDFS).

    Stablecoin is a type of cryptocurrency which rate is pegged to the rate of another stable asset (fiat currency, commodities, etc.). Due to this peg, stablecoins are more resistant to the volatility of the cryptocurrency market.

    Like many other stablecoins, BUSD was created to provide simple transactions in the decentralized finance (DeFi) ecosystem. It complies with ERC-20 and BEP-2 standards and is compatible with multiple blockchains (Ethereum, BNB Smart Chain (BEP20), Avalanche C-Chain, etc.).

    As mentioned earlier, an amount equal to the actual BUSD supply is held by Paxos. The company acts as a third-party reserve in an FDIC-insured US bank. Therefore, the equivalent of each BUSD owned by the user is stored in a real bank account.

    BUSD to Binance
    BUSD on Binance

    BUSD is subject to the same market fluctuations as its fiat counterpart: when the value of the dollar rises or falls, so does the BUSD token.

    Where to buy Binance USD

    There are many ways to buy BUSD: on exchanges, through payment systems, banks like Revolut, on p2p-platforms and so on. It is most profitable to buy cryptocurrency on the exchange. This way has following benefits:

    • Favorable exchange rate;
    • High liquidity;
    • The possibility to buy coin by fiat money from a payment card;
    • Security.

    Instructions for buying Binance USD

    The detailed instructions for buying Binance USD include the 5 steps below.

    Decide on the risk level

    Investing in cryptocurrencies is always risky. It is necessary to understand the best way to manage risk and follow the rules that will help reduce losses. First of all, you need to avoid investing money that you may need in the near future. If you can’t afford to lose some money – then you can’t afford to invest it in risky assets.

    Choose a crypto exchange

    The process of buying cryptocurrency on all exchanges is approximately the same. However, exchanges differ in such parameters as verification, deposit and withdrawal methods, commissions, trading pairs, user reviews, etc. It is important to consider these points when choosing a trading platform.

    The list of the most popular exchanges for buying BUSD is presented in the table.

    Exchange
    Website
    BTC trading volume, 24h
    Best exchanges rating can be found on our website.

    Register an account

    The Editors’ Choice for buying BUSD is the world’s largest exchange by trading volume – Binance (but users can choose any trading platform).

    To trade on an exchange, including Binance, new user must register an account. For this:

    1. Open Binance Official Site;
    2. Click on Register in the top right corner;
      Begin registration on Binance
      Starting registration on Binance
    3. Select country of residence → Create Personal Account;
      Create a personal account
      Creating a personal account
    4. Enter email address, create complicated password, click Next;
      Account Details
      Account details
    5. Pass verifing process. To do this enter in the appropriate form the activation code that will be sent to your e-mail and then the code received on your phone.

    After all the steps have been passed, the account will be registered and you will allow to start working with the exchange.

    See detailed instructions in the article: Binance exchange review.

    Top up your account

    The methods of replenishing an account depend on the specific exchange, as well as on which currency pair the desired coin is traded in. For example, on Binance, BUSD is traded in pair with cryptocurrencies BRL, DAI, USDT, etc., and with fiat currencies like TRY and UAN.

    BUSD trading pairs
    BUSD trading pairs

    For example, let’s replenish the account in USDT. For this:

    1. Log into your personal account;
    2. Click Wallet → Fiat and Spot in the top right corner;
      Start top up on Binance
      Beginning depositing on Binance
    3. Select USDT as deposit coin and press Deposit;
      Select USDT to top up
      Select USDT to deposit
    4. Select network to transfer;
    5. Copy the Binance address and paste it into the address field in the wallet from which the cryptocurrency will be withdrawn;
      Top up your Binance exchange account
      Depositing a Binance exchange account
    6. Check that the money has been transfer to your Binance account.

    Buy Binance USD (BUSD)

    After replenishing the deposit, you can buy cryptocurrency. To buy BUSD on the Binance Spot market:

    1. Click Trade → Spot in your account;
      Binance Spot Market Selection
      Binance spot market selection
    2. Select the trading pair BUSD/USDT;
      Select trading pair
      Selecting a trading pair
    3. Specify order type, for example, Market;
    4. Enter amount of USDT to buy BUSD;
    5. Click Buy BUSD.
      Buying BUSD
      Buying BUSD

    How to sell Binance USD

    To sell BUSD, you need to follow the same steps but to fill out the form on the right and click Sell BUSD button.

    BUSD sale
    Selling BUSD

    Where to store BUSD

    You can store BUSD at any wallet that accept that coin. The simpliest way to store coins relatively safely is on Binance account, but you surely can choose any third party application that accepts BUSD.

    Read also: Best crypto wallets.

    The choice of storage depends on the goals and objectives of the user. If it is expected that the coins will be needed for active trading, then it is better to use a “hot” mobile wallet. The best mobile wallets for storing BUSD include:

    • MyEtherWallet: The open source platform allows you to create wallets, interact with smart contracts and so on. Supports all types of Ethereum tokens, including Binance USD;
    • MetaMask: available as a browser extension and mobile version, allows transactions and interacting with DApps and smart contracts, as well as connect to various blockchain networks;
    • Exodus Wallet: mobile and desktop wallet. Compatible with ERC-20 tokens. Basic operations with 225+ cryptocurrencies. Could be connected to hardware wallets;
    • Trust Wallet: hot mobile crypto wallet. Supports a lot of cryptocurrencies including Bitcoin, Ethereum and Binance USD. The Web3 browser allows you to interact with decentralized applications (DApps). You can send BUSD via the ERC20, BEP20 or BEP2 networks.

    Mobile wallets are more convenient due to their portability and option to scan QR-codes for fast crypto transactions and other actions.

    To secure these vaults, you need to enable two-factor authentication, create a strong password and follow other security tips.

    If the wallet is needed for long-term storage, it is better to use “cold” storage. This type of wallets is safely protect the user’s private keys. Ledger is one of the most secure wallet on the market. You can carry the wallet with you and it supports a large number of cryptocurrencies for storage.

    Mobile and hardware wallets for BUSD
    Mobile and hardware wallets for BUSD

    How can I withdraw Binance USD to my wallet?

    Let’s look how to withdraw the Binance USD cryptocurrency from the exchange Binance to Trust Wallet:

    1. Open your Binance account;
    2. Select Wallet → Fiat and Spot;
      Begin withdrawal from exchange
      Start withdrawal from the exchange
    3. Select BUSD and click Withdraw;
      Select coin
      Coin selection
    4. Specify the transfer network, for example, BNB (make sure that the networks on the exchange and in the receiving wallet match);
      Network selection
      Network selection
    5. Copy wallet address for BUSD transfering: open a crypto wallet to where coins will be withdrawn, for example, Trust Wallet;
    6. Select BUSD in the wallet;
      BUSD Coin in Trust Wallet
      BUSD coin in Trust Wallet
    7. Click Receive tab. System will display address and QR-code;
      BUSD Address in Trust Wallet
      BUSD Trust Wallet address
    8. Copy this address and paste it in the Address fiels on the exchange (or scan the QR-code) → confirm the transaction;
      Output Details
      Output details
    9. Check if there is a cryptocurrency in your wallet.

    FAQ

    What is BUSD?
    Binance USD is a regulated, fiat-backed stablecoin pegged 1:1 to the US dollar. Founded by Paxos and Binance, the coin has been approved by the New York State Department of Financial Services. Remarkably, it is one of the few stablecoins to be approved in the US.
    What is one BUSD equal to?
    BUSD is pegged to USD and is always about 1:1.
    Where to buy Binance USD?
    BUSD can be bought on crypto-exchange, electronic payment systems, etc. But the most profitable way to buy it is to use reliable exchanges. BUSD is available for trading on top exchanges (Binance, OKX, Bybit etc.) and Paxos platform.

    Advantages of buying cryptocurrency on the exchange: favorable rate, high liquidity, different payment methods, the possiblity to buy crypto by card for fiat money, etc.

    Are BUSD coins owned by Binance?
    The BUSD coin is founded by two large organizations - Paxos and Binance. It is one of the very few stablecoins that have been approved in the US.
    When is the best time to buy Binance USD?
    Professionals determine the best time to buy cryptocurrencies based on technical and fundamental analysis. Before buying cryptocurrency, you need to do the following:

    1. Visit the project site;
    2. Read white paper;
    3. Explore social media channels;
    4. Review project team and partnerships;
    5. Evaluate the market performance of the cryptocurrency;
    6. Study the price history;
    7. Determine if the cryptocurrency has practical use or solve any problem.

    If it is difficult, you can rely on opinions of experts and analysts.

    Should I buy Binance USD?
    In order to figure out if Binance USD is worth buying, you need to understand what coin is used for. Among the main purposes:

    • Crypto trading on Binance;
    • Crypto asset volatility insurance;
    • Use wherever ERC-20 tokens are accepted for trading, credit, payments, etc.

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    Agatha Redich
    Agatha Redich
    Articles author, editor
    Articles author and website editor. Works with texts for over 12 years. Among Agatha’s clients: Rossman, Zara, Bosch, ING Bank, Lexus and others. Crypto journalist since 2018. She wrote more than a hundred articles about cryptocurrencies and the crypto market. Agatha's professional credo is to reveal complex topics in an accessible and simple way.
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    Emil Rabin
    Emil Rabin
    Site expert
    Cryptocurrency expert and financial analyst. Emil has working experience in Bain and KPMG, collaborated with PayPal and Revolut, organized more than 30 educational events about blockchain and cryptocurrencies in Eastern Europe. An expert of the TGDRatings.com portal since 2022.
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