What is Binance USD (BUSD)?
Binance USD (BUSD), launched in September 2019, is a stablecoin pegged to the US Dollar. Developed by Binance in partnership with Paxos, BUSD aims to marry the flexibility of cryptocurrencies with the stability of the US dollar. As a regulated stablecoin, it is approved by the New York State Department of Financial Services (NYDFS), ensuring compliance with various regulatory standards.
BUSD is primarily used as a medium of exchange and a store of value, offering traders and crypto users a stable and secure way to engage in digital transactions. Its 1:1 peg to the US dollar ensures minimal volatility, making it an ideal asset for trading, settlement, and risk hedging in the cryptocurrency market. Moreover, BUSD plays a significant role in the Binance ecosystem, facilitating trading and financial activities on the platform. It also contributes to the broader DeFi landscape, enabling decentralized applications to operate with a stable and reliable form of digital money.
BUSD is primarily used as a medium of exchange and a store of value, offering traders and crypto users a stable and secure way to engage in digital transactions. Its 1:1 peg to the US dollar ensures minimal volatility, making it an ideal asset for trading, settlement, and risk hedging in the cryptocurrency market. Moreover, BUSD plays a significant role in the Binance ecosystem, facilitating trading and financial activities on the platform. It also contributes to the broader DeFi landscape, enabling decentralized applications to operate with a stable and reliable form of digital money.
Why choose Rabbit Wallet for Binance USD?
Whether you're a total crypto newbie or a seasoned pro, Rabbit Wallet's got your back for
handling your BUSD with ease. Check out some cool features that make Rabbit stand out:
Exchange Binance USD (BUSD)
With the Rabbit's built-in coin swap feature, you can exchange your Binance USD for
any other coin at the best rates without ever leaving the cozy confines of your
wallet.
Self-Custodial
With a self-custodial wallet, you control the keys to your Binance USD, meaning that
nobody, not even Rabbit, can ever access your coins. This also leads to faster
transactions with no third-party fees except for miners and increased flexibility.
Optimal Fees
The unique fee calculation algorithms provide you with various options when
available, allowing you to choose the most optimal one to ensure your transaction is
confirmed both swiftly and cost-effectively.
User-Friendly
We've worked hard to make Rabbit Wallet user-friendly for everyone. Packed with
features, it suits users at all levels, and our developers respond directly when
help is needed.
How to use Rabbit Wallet?
Creating a new wallet takes just a few clicks, and requires no information from you.
Here is a short brief on how you can create your new wallet:
Here is a short brief on how you can create your new wallet:
Save your phrase
You will be given a phrase, which will act as a primary key to your wallet. Save it
securely.
Set your password
Password is required to both open your wallet, and to perform any transactions.
You are in!
Now you are all set to explore the crypto world! Welcome to freedom!
Friendly tip: Having your passphrase on a sticky note under a keyboard might not be the best way to
store it.