Binance USD (BUSD) is a stablecoin that provides hedging against the volatility of cryptocurrency, backed with U.S. dollars in a 1:1 ratio held in FDIC-insured U.S. banks. Binance USD is issued by Binance in partnership with Paxos, the issuer of BUSD and USD custodian for BUSD. BUSD is both approved and regulated by the New York State Department of Financial Services (NYDFS). An audit report on BUSD is published monthly to add transparency and confidence to the security and stability of BUSD. BUSD runs on both the Ethereum blockchain as an ERC-20 token and the Binance Chain blockchain as a BEP-2 token. BUSD can be issued and redeemed without additional fees and can be used on a variety of centralised, custodial exchanges such as Binance and Binance US with trading discounts.
The best place to buy Binance USD is right here at Swyftx! Swyftx offers a fast, secure, and user-friendly platform that allows traders to easily deposit Australian dollars to trade Bitcoin and other cryptocurrencies instantly. We offer competitive fees and excellent customer support and we are proud to be Australia's highest-rated crypto exchange as per our Trust Pilot Reviews.
Yes, Swyftx is a safe and secure platform to buy and sell Binance USD (BUSD). Swyftx employs a range of advanced security measures to protect user funds and personal information and has been awarded ISO27001 certification for information security.
Swyftx is a AUSTRAC registered exchange that conducts regular security audits and maintains strict compliance with Australian Anti-Money Laundering and Counter-Terrorism Financing Laws.
You can find more information on our security practices here.
The price of BUSD is determined by the forces of supply and demand in the market. Similar to other assets, the price of Bitcoin is determined by the number of buyers and sellers in the market at any given time.
Some significant factors that can influence the demand for Bitcoin are adoption rates, Macro economic factors, News events, upgrades and advancements in its tech and investor sentiment.
You can deposit Australian dollars (AUD) into Swyftx via a number of methods including:
Swyftx also allows you to deposit cryptocurrency from another wallet into your account.
Swyftx does not allow you to directly buy Binance USD with credit card, however, we do support credit and debit card deposits. Once your deposit has arrived in your account, you can then buy BUSD instantly.
Swyftx has a trading fee of 0.6% for all buy and sell orders. In addition to the trading fee, Swyftx applies a spread to each cryptocurrency trade.
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This should not be used to make investment decisions.
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