Krypto Kaos is running wonderful giveaway to gift 1 of their follower(s) with $500 BUSD Giveaway. To enter in their latest giveaway grab your free entries by click the giveaway link below!
About BUSD Giveaway
What exactly is BUSD? – BUSD is a stable coin founded by Binance & Paxos. Paxos uses blockchain technology to offer their Stable coin as a Service product to external companies. In the past, they also created a gold backed stable coin called PAX Gold (PAXG). The New York State Department of Financial Services regulates both BUSD and PAXG tokens.
On a technical level, BUSD is a fiat backed stable coin that maintains a U.S. dollar peg. An amount of U.S. dollars equal to the total supply of BUSD is held in custody by Paxos, acting as its reserves in FDIC-insured U.S. banks. When the price of the U.S. dollar rises or falls, the price of BUSD also does in equal amounts. This is the most common and traditional model of stable coin.
BUSD offers three key attributes to transactions: accessibility, flexibility, and speed. The token is easily accessible through Paxos or Binance. You can purchase them through Binance’s exchange or fiat gateway services, or send an amount in U.S. dollars to Paxos to mint new BUSD tokens for you.
BUSD also offers flexibility in allowing crypto users to quickly turn their holdings into a stable asset without moving off the blockchain. Finally, by using BUSD, a user can quickly send money around the globe with nominal fees.
The token exists on three different blockchains: Ethereum, Binance Smart Chain, and Binance Chain. Holders can swap their tokens between the blockchains depending on their needs. This can be done on the Binance exchange (when making withdrawals) or through Binance Bridge.
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