BUSD
BUSD
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₹0
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Price of BUSD today
The current live price of BUSD today is ₹0, with a 24-hour trading volume of ₹35,57,72,474.81. Our BUSD to INR price is updated in real-time. BUSD has seen a decrease of -0.01% in the last 24 hours. With a live market cap of ₹6,14,19,33,287.95 , the circulating supply is at 69,511,448 BUSD coins, with a maximum supply of 69,511,448BUSD coins.
BUSD Price History
Date Comparison | Amount Change | % Change |
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Today | ₹0.00 | 0% |
7 Days | ₹0.00 | 0% |
30 Days | ₹0.00 | 0% |
1 Year | ₹0.00 | 0% |
BUSD Price Information
Price Change (1hr)
0%
Price Change (24hr)
0%
Price Change (7d)
0%
BUSD Market Stats
Market Cap
₹6,14,19,33,287.95
Fully Diluted Market Cap
₹6,14,19,33,287.95
24hr Volume
₹35,57,72,474.81
34.16%
Circulating Supply
69511447.78 BUSD
Total Supply
69511447.78 BUSD
Things to know about BUSD
What is BUSD (BUSD) Token?
Binance USD (BUSD) is a stablecoin pegged to the US dollar and issued by Binance in partnership with Paxos. It is approved and regulated by the New York State Department of Financial Services (NYDFS). As a stablecoin, BUSD aims to combine the stability of the dollar with the efficiency of blockchain technology, providing a digital fiat currency that can be used for various transactions, including international transfers and trading, and as a stable store of value in the cryptocurrency market.
Tokenomics
Total Supply:
The total supply of BUSD is not capped, meaning it can increase or decrease in response to market demand.
Circulating Supply:
The circulating supply matches the amount of US dollars held in reserve.
Market Cap:
Reflective of the circulating supply and the stable price pegged to the US dollar.
Stability:
BUSD maintains a 1:1 peg to the US dollar, ensuring price stability.
Burn/Mint Mechanism:
BUSD can be minted or burned by Paxos based on the cash flow in and out of the reserve.
Market Data
As of today #{today’s date}, the price of BUSD is ₹0 INR or #{coinPriceUsd} USD, with a 24-hour trading volume of 4029133.35 USD. The market capitalization for BUSD is 69557568.38USD. The circulating supply is 69511447.78 BUSD, with the total supply also being 69511447.78 BUSD.
Token Pros and Cons
Pros:
Regulatory Compliance:
BUSD is one of the few stablecoins regulated by the NYDFS, ensuring compliance with stringent financial regulations.
Backed by Fiat:
Each BUSD token is backed by a corresponding US dollar, providing a high level of security and trust.
Audited Reserves:
The reserves backing BUSD are audited monthly, ensuring transparency and investor confidence.
Versatility:
BUSD can be used across various blockchains, increasing its utility in the crypto ecosystem.
Integration:
As a product of Binance, BUSD is widely accepted and integrated into one of the world’s largest cryptocurrency exchanges.
Cons:
Centralization Risks:
Being issued by a centralized entity, BUSD is subject to the decisions and solvency of Paxos and Binance.
Regulatory Changes:
Changes in regulations could impact the operation and acceptance of BUSD.
Smart Contract Vulnerability:
As with any blockchain-based asset, there is a risk of smart contract vulnerabilities.
Market Acceptance:
BUSD competes with other stablecoins, and its success depends on market acceptance.
Redemption and Conversion:
The process of redeeming or converting BUSD may be subject to limitations and fees.
Why Should You Invest in the Coin?
Stable Value:
BUSD offers a stable value, making it a safe haven during cryptocurrency market volatility.
High Liquidity:
As a widely used stablecoin, BUSD provides high liquidity for traders and investors.
Regulatory Oversight:
The regulatory oversight by NYDFS adds a layer of security not present in many other cryptocurrencies.
Ecosystem Support:
BUSD is supported by a robust ecosystem, including Binance’s extensive network and services.
Utility in DeFi:
BUSD is increasingly being used in decentralized finance (DeFi) applications, expanding its use cases.
USP of the Coin
Regulatory Approval:
BUSD is one of the few stablecoins with explicit regulatory approval from the NYDFS.
Partnership with Binance:
The partnership with Binance ensures deep integration and widespread use within the Binance ecosystem.
Multi-Chain Availability:
BUSD is available on multiple blockchains, enhancing its interoperability and utility.
Problem the Coin is Solving
BUSD provides a solution to the volatility of cryptocurrencies by offering a stablecoin that can be used for transactions and trading and as a store of value. It also addresses the trust issue in the stablecoin market by being fully backed by US dollars and subject to regular audits and regulatory oversight.
Founder and Team Background
BUSD was launched as a joint partnership between Binance, a leading global cryptocurrency exchange, and Paxos, a blockchain and finance company headquartered in New York. The team behind BUSD comprises experts from both Binance and Paxos, with backgrounds in finance, blockchain technology, and regulatory compliance.
ICO Price
BUSD did not have a traditional ICO as it is a stablecoin pegged to the US dollar. It was launched in September 2019, and the tokens are issued as needed based on demand and the amount of USD held in reserves.
Risks Associated in Investing in the Coin
Regulatory Risk:
Any changes in the regulatory landscape could adversely affect the issuance and use of BUSD.
Counterparty Risk:
The reliance on Paxos and Binance as central parties introduces counterparty risk.
Market Competition:
The stablecoin market is highly competitive, and BUSD faces competition from other established stablecoins.
Technical Risks:
There are inherent technical risks associated with blockchain technology and smart contracts.
Liquidity Constraints:
While BUSD is generally liquid, there may be scenarios where liquidity is constrained.
Summary of the Whitepaper
The whitepaper for BUSDX, a BEP-20 token on the Binance Smart Chain (BSC), presents a comprehensive overview of the token’s purpose, values, benefits, and strategic plans. The document is structured into several sections, each detailing different aspects of the token and its ecosystem.
Overview
BUSDX was introduced as a solution to the low-yield environment in traditional finance, offering investors a way to earn passive income through a built-in tax system for transactions. The token operates on the BSC, benefiting from its security features. Each BUSDX transaction incurs an 18% tax, which is distributed as follows: 10% to token holders in BUSD, 5% for marketing and development, and 3% to provide liquidity on PancakeSwap. This system is designed to reward holders and ensure the project’s sustainability.
Values
The whitepaper emphasizes the core values of the BUSDX community, which include community engagement, transparency, trust, and longevity. It highlights the importance of community participation and outreach with active channels on social media platforms. The token is presented as decentralized, with a commitment to transparency and trust-building measures such as contract audits and locked liquidity pools.
Benefits of BUSD
BUSD, the stablecoin used to reward BUSDX holders, is described as a secure and stable asset, fully backed by US dollars held in FDIC-insured banks. The whitepaper underscores the benefits of earning rewards in a stablecoin, which provides a hedge against the volatility of other cryptocurrencies, including BUSDX itself.
BUSDXpay and BUSDXpad
BUSDXpay was introduced as a platform aimed at making cryptocurrency as easy to spend as fiat globally. It is slated for release in the second quarter of 2022 and promises to offer online purchasing capabilities with BUSD rewards.
BUSDXpad is presented as a launchpad for Initial DEX Offerings (IDOs), focusing on projects that may not have access to larger IDO platforms. It outlines the benefits for BUSDX holders, such as exclusive privileges and guaranteed allocations in IDOs based on the duration and number of tokens held.
Tokenomics
The whitepaper details the tokenomics of BUSDX, explaining the tax distribution mechanism that funds BUSD rewards, marketing, and liquidity. It also describes the automatic liquidity provision on PancakeSwap, which ensures that trades are executed successfully.
Roadmap
The roadmap outlines the phased development plan for BUSDX, including website launch, contract audits, presale and liquidity locking, PancakeSwap launch, listings on CoinGecko and CoinMarketCap, holder milestones, and the development of BUSDXpay and BUSDXpad. It also mentions offline advertising and partnerships, with more announcements to come.
In summary, the whitepaper presents BUSDX as a community-driven token that offers passive income opportunities through a tax redistribution system. It emphasizes the stability and security of earning rewards in BUSD and outlines ambitious plans for the token’s integration into payment systems and support for emerging projects through its launchpad.
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What is the price of BUSD (BUSD)?
The current price of BUSD (BUSD) in INR is ₹0 INR.
What is the current BUSD market cap?
The current market capitalization of BUSD (BUSD) is ₹6,14,19,33,287.95 INR. This value represents the total market value of all coins in circulation, calculated by multiplying the current price of BUSD by the number of coins in circulation.
What is the current supply of BUSD (BUSD)?
The current supply of BUSD (BUSD) is 69511447.78 BUSD. This figure represents the total number of coins that have been mined and are currently in circulation.
What is the 24 trading volume of BUSD (BUSD)?
The 24-hour trading volume of BUSD (BUSD) in INR is ₹35,57,72,474.81. This figure represents the total value of all BUSD transactions across various exchanges within the last 24 hours.
How to Buy BUSD (BUSD) in India?
To buy BUSD (BUSD) via Mudrex, simply sign up and create an account on their platform. Proceed by completing the KYC process to verify your identity. Once verified, deposit funds into your account using the available methods. With your account funded, you're all set to start investing in BUSD.
Can I buy BUSD (BUSD) with UPI?
Yes, you can buy BUSD (BUSD) with UPI on Mudrex, which accepts payments through popular UPI apps like Paytm, PhonePe, and Google Pay, offering a convenient and quick way to invest.
How to Convert BUSD (BUSD) to Indian Rupee (INR)?
To convert BUSD (BUSD) to Indian Rupee (INR), you can use our BUSD/INR conversion rates in real time.