How is BUSD different from USDT ?

O

onlinemarketer12

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Was there even need for BUSD ?
 
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Well, Its crypto by Binance which is 1:1 backed up by USD. There are crazy amount of crypto currencies around. Binance having these many members, they have no problem in getting some cryptos to the mainstream. Another one they have is BNB.
 
Repulsor said:
Well, Its crypto by Binance which is 1:1 backed up by USD. There are crazy amount of crypto currencies around. Binance having these many members, they have no problem in getting some cryptos to the mainstream. Another one they have is BNB.
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BNB is kind of integrated to their platform, you cannot operate on binance completely without BNB.
 
And Beauty of USDT is that, you can always convert your money to USDT when the market is volatile. I am a beginner in trading and due to the risky nature, I rarely short sell. So whenever market is about to go down, I convert everything to USDT and enter back later. Maybe Binance wanted to exploit this so they might have made a 1:1 USD crypto for themselves.
 
Repulsor said:
Are you sure? Because I use Binance and I dont deal with BNB unless I want to.
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You can use Binance with no problem without BNB, no worries. BNB is just a centralized coin of Binance itself, BUSD is made just to "compete" USDT, same as Google did with YouTube. People keep BUSD because it's easier to trade on Binance, so they take advantage of its users.

Imagine BHW make BHWUSD, and instead of PayPal we use BHWUSD, so we keep our funds locked in it.

In essence, most of the new coins will rarely pair with BUSD, but USDT only, that's why personally I don`t like BUSD. Is good if you have big amounts to join Launchpad only, the same applies to BNB.
 
Both are good stable coins. Stable coins are not perfectly stable and each fluctuates slightly in their own way. If I had to rank them, it would be USDC first, BUSD second and USDT third. However, USDT has more trading volume than other stable coins.
 
I use BUSD more than tether because I trust the earnings of binance are so great they can probably back it up with their own money.
 
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