What is Binance USD (BUSD)?
Binance USD, or BUSD for short, is a stablecoin released by Binance in collaboration with Paxos. BUSD is a fiat-backed stablecoin that aims to maintain the USD exchange rate of 1:1 with the support of Paxos' fiat reserves. Both Paxos and BUSD are registered with the New York State Department of Financial Services; therefore, user's benefits are relatively well-protected upon using BUSD compared to when using other unregulated stablecoins. BUSD is available on multiple blockchain platforms, including Ethereum, BNB Chain, Avalanche, and Polygon.
How Binance USD (BUSD) Works
Paxos' reserves ensure that 1 BUSD can be redeemed to 1 USD through the process of minting and burning BUSD. When you buy BUSD using fiat, the fiat is sent to the reserves and a corresponding amount of BUSD is minted and sent to your wallet. On the other hand, when you sell BUSD for fiat, the BUSD is burned and a corresponding amount of fiat is sent from the reserves to your wallet.
Since it is regulated, Paxos has to publish regular attestation reports about the state of their reserves and have the reports audited by a third party.
How Many Binance USD (BUSD) Tokens Are in Circulation?
Because the supply of BUSD is managed by the Paxos' reserves, there is no maximum supply. Regarding circulating supply, there is 21.04 billion BUSD in total.
How to Buy Binance USD (BUSD)
Consider investing in Binance USD (BUSD)? It only takes 2 minutes to create an account on Bitget and start trading BUSD.
Check out the available BUSD trading pairs on Bitget!
Spot market
Binance USD (BUSD) Resources
Simple 3-step guide to buying BUSD today in Tanzania
Create your free Bitget account
Select a funding method
Complete your Binance USD purchase
Step 1: Create a free account on the Bitget website or the app
Step 2: Place an order for Binance USD using a payment method of your choice:
Buy Binance USD with a debit/credit card
For Visa or Mastercard, select Credit/Debit card, then click Add New Card under the "Buy" tab
Credit/Debit in the Buy Crypto tab of the Bitget app
Credit/Debit in the Buy Crypto tab of the Bitget websiteSelect your preferred fiat currency, enter the amount you wish to spend, link your credit card, and then complete your payment with zero fees.
Add a new card to complete your payment on the Bitget app
Enter your bank card details to complete your payment on the Bitget websiteFor Diners Club/Discover card, click Buy Crypto > [Third Party] in the top navigation bar to place your Binance USD order.
How to buy crypto with credit/debit cardBuy Binance USD with Google Pay or Apple Pay
Converting your Google Pay and Apple Pay balance into Binance USD is easy and secure on Bitget. Simply click Buy Crypto > [Third Party] in the top navigation bar to place your Binance USD order.How to buy crypto via third-party gatewayBuy with bank transfer
We accept various payment methods, including iDeal and SEPA for EUR, PIX for BRL, PayID for AUD, UPI for INR, QRIS, DANA, and OVO for IDR, SPEI for MXN, and GCash for PHP. These services are facilitated by Alchemy Pay, Banxa, Mercuryo, and Simplex payment gateways. Simply select Buy Crypto > [Third Party] in the top navigation bar and select a fiat currency to place your Binance USD order.Buy Binance USD with the fiat balance in your Bitget account
You can Deposit fiat funds using Advcash, SEPA, Faster Payments, or PIX payment gateways to top up your Bitget fiat balance. Then, click Buy Crypto > [Cash conversion] in the top navigation bar to place your Binance USD order.P2P trading
With Bitget P2P, you can buy crypto using over 100 payment methods, including bank transfers, cash, and e-wallets like Payeer, Zelle, Perfect Money, Advcash, and Wise. Simply place an order, pay the seller, and receive your crypto. Enjoy secure transactions with escrow protection.How to buy crypto on Bitget P2P
Step 3: Monitor Binance USD in your Bitget spot wallet
Bitget—where the world trades Binance USD
How to buy Binance USD for free
- Learn how to earn Binance USD for free through the Learn2Earn promotion
- Earn free Binance USD by inviting friends to join Bitget's Assist2Earn promotion
- Receive free Binance USD airdrops by joining ongoing challenges and promotions
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FAQ
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The population of Tanzania is 63,578,214, and the official currency is the Tanzanian shilling (TZS). It will only take a few minutes to buy Binance USD(BUSD) and other cryptocurrencies on the Bitget platform using P2P trading, crypto deposit, and third-party merchants like Apple pay and Google pay. The official languages of Tanzania are Swahili and English, and the Bitget app and website are available in English. Wherever you are in Dar es Salaam, Mwanza, Dodoma, or Arusha, Bitget is ready to serve any needs in cryptocurrency, be it P2P, spot, or futures trading.
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