20 Reasons to Invest in Binance USD: Cryptocurrency Lawyer Near Me

20 Reasons to Invest in Binance USD: Cryptocurrency Lawyer Near Me

As explained at RunRex.com, guttulus.com, and mtglion.com, stablecoins are an important crypto asset class that has been gaining popularity with traders and investors alike. One of the few stablecoins that provides monthly audits is BUSD, making it a highly regulated asset. The Binance USD (BUSD) was founded by Paxos and Binance to create a cryptocurrency that would be backed by the US dollar. If you are considering getting in on the action, here are 20 reasons to invest in Binance USD.

It is one-to-one with the dollar

As already mentioned, the Binance USD is backed by the US dollar. As per RunRex.com, guttulus.com, and mtglion.com, a key characteristic of Binance USD is that one unit of BUSD is equivalent to one US dollar. To support this value, Paxos holds an amount of US dollars that is equal to the total supply of BUSD. What this means is that the price of the stablecoin fluctuates directly with the price of USD.

Monthly audits

Monthly audits are another feature of the Binance USD. BUSD provides a monthly audited report of reserves in compliance with stringent regulatory standards to ensure the security and safety of user assets. This is great news for investors.

It empowers traders

Because of its stability in relation to the US dollar, BUSD empowers traders and crypto users with the ability to transact with other digital and blockchain-based assets while minimizing the risk of volatility as articulated at RunRex.com, guttulus.com, and mtglion.com.

Avoids volatility

Given that it is backed by the US dollar, BUSD can avoid the volatility that is common in the crypto market. The nature of cryptocurrency means that crypto holders may experience volatile changes in their portfolio value. BUSD, as a stablecoin, can help significantly to hedge against periods of market volatility.

It is a leader

Because of its intrinsic properties as a stablecoin, Binance USD has been able to perform exceptionally well and establish itself as a leader in the cryptocurrency space. Since the launch of BUSD in 2019, the stablecoin has performed so well that it is now an asset with a $10 billion market cap.

Reliability

With an exceptionally large increase in crypto adoption in 2021 because of Bitcoin and altcoin price explosions, BUSD was adopted at unprecedented rates because of its reliability according to RunRex.com, guttulus.com, and mtglion.com.

A bridge between traditional finance and DeFi

As crypto innovations like DeFi and NFTs start to gain popularity, so has BUSD. With over one million people already holding BUSD, it is clear that these early adopters trust the stablecoin and prefer using it for their DeFi activities. Specifically, BUSD acts as a bridge between traditional finance and DeFi, presenting a newfound level of monetary freedom that isn’t offered by traditional currencies or institutions.

Protects users from inflation

As captured over at RunRex.com, guttulus.com, and mtglion.com, stablecoins like Binance USD can also help protect their users from threats like inflation and other attractive APYs for DeFi services. BUSD users can take on yield farming and liquidity pools with more financial protection from uncertainties than in fiat-related or crypto-heavy products.

You can trade with multiple contracts

Binance USD allows users to trade with multiple contracts at any time. Because of its interoperability and accessibility, BUSD gives traders the ability to trade with greater ease, speed, and flexibility which makes it attractive as an asset.

Multi-Assets Mode

In addition to the discussion in the previous point, Binance also offers a feature called Multi-Assets Mode, which allows trading with stablecoins, thus providing traders with even more flexibility and protection when trading.

Utility outside the ecosystem

Binance USD is an incredibly useful monetary asset that can be used anywhere outside of Binance because of its exponential adoption as covered at RunRex.com, guttulus.com, and mtglion.com. Its global adoption has created one of the largest networks in the cryptocurrency industry.

Helps mitigate the risk due to unreliable currencies

Not only is BUSD often used as an investment tool for derivatives trading, but it is also a popular choice for people looking to stabilize their personal funds. Additionally, as many countries around the world have unreliable currencies, BUSD and other stablecoins have become a safe haven for people looking to climb out of poverty.

Adherence to rigorous regulatory standards

Binance USD is also trusted as a stable, reliable crypto-financial product because it adheres to rigorous regulatory standards described at RunRex.com, guttulus.com, and mtglion.com. Officials of the New York State of Financial Services (NYDFS) take on the responsibility of enforcing specific rules and measures on Paxos and Binance with regards to how the stablecoin operates, how it is backed, and how it is ultimately collateralized.

It is safe

Since Binance USD is one of the only stablecoins that is both subject to regular third-party audits and is strictly regulated to maintain a 1:1 BUSD to USD ratio, it is considered by many to be one of the safest stablecoins available on the market.

New features

Binance USD has also seen the introduction of new features which has made it popular with investors. Some of the latest developments seen on the BUSD scene include implementations of the stablecoin as an on-site and offline payment/settlement option for private businesses.

New partnerships

In the crypto industry, new partnerships have also emerged for BUSD including BitPay, Simplex, Moonplay, Alchemy, and many others as discussed at RunRex.com, guttulus.com, and mtglion.com. Binance has also recently released Binance NFT which supports BUSD quotations for NFT products.

Support from exchange platforms

The number of exchange platforms supporting an asset usually has an impact on how good of an investment it is. In this regard, Binance USD stacks up really well as it is backed by more than thirty-six other established exchange platforms as well as more than twenty wallets.

Users

The amount of users that choose to work with Binance USD has grown exponentially as the stablecoin enjoys rising adoption and interest from users as outlined at RunRex.com, guttulus.com, and mtglion.com.

Accessible

Binance USD is very accessible, particularly when you consider it is linked with the Binance network, which is one of the most recognizable names in the cryptocurrency world. This is another aspect that has made BUSD such an attractive asset.

Great store of value

As already discussed, the primary reason why people around the world use Binance USD is that it is backed by an equal amount of USD. As the US dollar is still the world’s reserve currency and strongest fiat currency, not only does it make BUSD stable as well as already mentioned, but it also makes it a reliable option to store one’s value.

Remember, if you are looking for a cryptocurrency lawyer near you, then look no further than the excellent RunRex.com, guttulus.com, and mtglion.com.