BSUD can be used to hedge against the volatility of your trade by holding in BUSD.
The crypto market is going very volatile making necessary corrections along the way, just twelve days back bitcoin hit 50 lakhs a coin and dropped 20% the following week, we see a similar chart with other cryptocurrencies like ETH, XRP, ADA thought ETH shows some resistance when it hit an All-Time High of 1,98,500 INR on April 22nd. As I write this, BTC is at 42,69,912 and ETH at 2,00,678. All these charts and numbers show us that the crypto market is unpredictable and it surprises you every time.
To hedge your daily trade and reduce the risk in a volatile market, Unocoin is happy to announce that we have listed a stable coin Binance USD.
What is Binance USD?
100% Backed by U.S. dollars held in FDIC — insured U.S. banks, Binance USD (BUSD) is a stable coin pegged to USD that has received approval from the New York State Department of Financial Services (NYDFS). BUSD will be available for direct purchase and redemption at a rate of 1 BUSD = 1 USD. BUSD is a partnership project of Paxos and Binance, one of the biggest crypto exchange companies globally.
Is trading with BSUD reduces the risk?
Paxos and BUSD are approved and regulated by the New York State Department of Financial Services, ensuring the utmost of consumer protections. With 100% back by U.S. dollar, trading with BUSD in a volatile market is a safe bet.
What else can we do with BUSD?
Alongside trade crypto using BSUD on the Unocoin platform, you can use BUSD to buy or sell USD as BUSD 1:1 for USD. BSUD can also be used to hedge against the volatility of your trade by holding in BUSD.
Some of the BUSD use case:
– Transfer your digital dollars (BUSD) anywhere in minutes, at low cost and on the blockchain.
– Trade BUSD on different exchanges now also in Unocoin
– Deposit BUSD to earn an interest rate.
– Pay BUSD as payment for goods and services.
– Use BUSD as collateral and loan assets.
– Use BUSD as cross collateral in Futures.
– Store BUSD on an exchange or in a wallet.
BUSD Market Cap.
According to Coin Market Cap, Binance USD has a market capitalization of $6,976,463,315 with around 6,976,260,604 BUSD in circulation. BUSD acts as an alternative to the fiat currency of crypto-backed by the US dollar.
Trade with BUSD on Unocoin platform and win free BUSD.
If you trade BUSD/INR of trading volume (both buying/selling) worth more than 10,000 INR between 27th-30th April, you will get free INR 3000, 2000, 1000 from Unocoin.
Unocoin is India’s first and the most secure bitcoin trading app. This exchange app was founded in 2013. You can buy and sell bitcoin instantly using the Instant Buy and Sell feature. Not just this, you can also buy ETH and Sell ETH in no time. With more than eighty-seven coins listed on this best cryptocurrency exchange in India, you can also accept bitcoin from your friends from any location. You can also know which cryptocurrency works best for you with the price ticker and notifications. The most popular cryptocurrencies like Bitcoin (BTC), Ether (ETH), USDT (Tether), BNB, Ripple (XRP), Cardano (ADA), Solana (SOL), Binance USD (BUSD), Dogecoin (DOGE), Polkadot (DOT) and other popular altcoins can be traded on the go. The new Android and iOS applications make Unocoin the best cryptocurrency app. With the unique feature of the Systematic Buying Plan, you can buy and sell bitcoin and Ether periodically. What more? You can start your crypto journey using SBP for as little as INR 10. With another exciting feature called Crypto Basket, you can diversify your crypto portfolio based on market capitalisation (Market Cap) or Volume. These two excellent features make Unocoin the best cryptocurrency platform.
Love Crypto Coins. Love Unocoin.
Please find the list of authentic Unocoin accounts for all your queries below:
- YouTube Channel: https://www.youtube.com/c/Unocoin/videos
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- Blogs: https://blog.unocoin.com
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- Telegram Group: https://t.me/Unocoin_Group
- Telegram Channel: https://t.me/+fasQhTKBsfA5N2Zl
- Telegram: https://t.me/UnocoinSupport_Bot
- E-mail id: [email protected]
- Contact details: 7788978910 (09:30 AM IST — 06:30 PM, Mon — Sat)
- App store link: https://apps.apple.com/us/app/unocoin/id1030422972?ls=1
- Playstore link: https://play.google.com/store/apps/details?id=com.unocoin.unocoinwallet
Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).