What is BUSD?

Symbol: BUSD · Market cap rank: #531

Short answer

BUSD (BUSD) is a cryptocurrency currently ranked #531 by market capitalisation.

Source: isthiscoinascam.com

Overview

Binance USD (BUSD) is a stablecoin that is pegged to the US dollar and has received approval from the New York State Department of Financial Services. It is designed for direct purchase and redemption at a fixed rate of 1 BUSD to 1 USD.

BUSD can be utilized in various transactions and serves as a means of maintaining value against the US dollar. As a stablecoin, its primary function is to offer stability through its peg to fiat currency.

Scam-risk analysis

BUSD has a moderate score — some risk signals were raised but no critical concerns. Is BUSD a scam?

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