Apart from the word “Binance ” in their names, Binance Coin and Binance USD have little in common. They are both associated with the largest and most eponymous cryptocurrency exchange on the market. But, the first is the native coin that enables all the processes within the Binance Smart Chain. The second is a stablecoin, and it was created much later. In this article, we’ll find out more about these coins.
Binance Chain was launched in April 2019. Its creators aimed to create a blockchain for storing cryptocurrency, exchanging it, and even developing dapps. Binance Smart Chain, which was created a year later, stands out due to the features of smart contracts and interoperability with the Ethereum Virtual Machine. The developers wanted to preserve the high level of throughput of the Binance Chain implementing smart contracts into its ecosystem simultaneously.
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What Are Binance USD and Binance Coin?
BNB cryptocurrency was created in July 2017. Initially, it served as a native exchange token. At that time, the Binance Smart Chain did not yet exist, and the price of the coin was only $0.10. Today, BNB is a very good investment asset. Those who purchased it in the summer of 2017 received a profit of over 600,000% at the peak.
BUSD is not an investment asset, its rate is backed by the US dollar. It enables fast and cheap transactions worldwide. ERC-20 and BEP-2 are supported.
Here’s an outlook on BUSD vs BNB in figures:
|Rate||Binance Coin||Binance USD|
|Ranking on the market||3||15|
|Capitalization||$88 billion||$14 billion|
|Trading volume||$1,5 billion||$4 billion|
|Circulation supply||166,801,148.00 BNB||14,239,828,621 BUSD|
As you can see, Binance Coin is more popular on the market, but Binance USD is traded very actively.
Benefits of BNB
With BNB, you purchase goods and pay for transaction fees on the Binance Smart Chain. Also, its holders can take part in token sales. The Binance infrastructure is developing rapidly, and along with that, the value of BNB is increasing. If the team keeps this up, it’s just a matter of time before the coin rate reaches $1,000 or even $2,000.
- Save 25% on spot trading fees
- Earn up to 40% few through the referral program
- BNB can be used for settlements in more than 60 million businesses around the world
- Save 10% on futures trading fees
- Stake BNB to receive rewards and improve the safety of the ecosystem
- Save 25% on margin trading fees
These are just the most evident opportunities the coin presents, but there are much more of them in reality.
Benefits of BUSD
BUSD holders who complete criteria specificated on the Binance official website have an opportunity to participate in a monthly reward program. This program offers many earning opportunities and ways to use BUSD in whatever way the holder wishes.
The reward program opened an excellent opportunity to maximize BUSD as its holders took advantage of rewards for holding the coins instead of converting them into USD.
BUSD is backed by the largest exchange in the world, Binance. The BSC blockchain is growing, while Paxos is ensuring legislative compliance. All this makes BUSD a reliable asset for storing your wealth on the blockchain or making purchases on the BSC.
How to Exchange BUSD vs BNB
There are many ways to exchange cryptocurrencies. Perhaps the most popular is centralized exchanges. Although they are convenient, CEX platforms have several disadvantages that should be taken into account.
First, funds held on a centralized exchange belong to the user only nominally. The fact is that the platform can restrict access at any time. And second, working with a centralized exchange requires users to pass verification and send ID copies to tech support. Therefore, exchanging coins at CEX does not offer any privacy.
If you want a convenient and anonymous way to exchange BUSD to BNB, it is Godex.io. Registration is not necessary for full-fledged work; just go to the main page and start the exchange with no delays.
The benefits of Godex are
- Best rate guarantee
- Fixed rates
- Easy-to-handle interface
- Favorable affiliate program
At Godex, you can exchange as many as 300 different coins with no limits. All transactions mostly take 5-30 minutes.
BNB is a native token of the system used in the blockchain and exchange work. It allows saving up to 25% on spot and margin trading, as well as 10% on futures trading fees. In addition, it serves for smart contracts and dapp creation on the Binance Smart Chain.
BUSD is a stablecoin created by Binance and Paxos. It makes trading simple and convenient. Binance has a lucrative BUSD Rewards Program that brings many benefits for token holders.
These two completely different assets bring a unique set of features and opportunities, so the best way to go is to make use of both.