![]() ![]() These are particularly useful for those who want a face-to-face transaction or don’t have access to a credit or debit card. These include local bank transfer and e-wallet payments, as well as in-person cash payments. Multiple Payment Methodsīinance P2P has over 300 payment methods available for buyers and sellers. Not all P2P exchanges offer this, so carefully check the terms and conditions when choosing a peer-to-peer exchange. Binance P2P, however, allows users to connect and trade directly with zero fees. Traditional crypto exchanges normally charge a fixed fee or percentage per trade. Buyers and sellers can meet from over 180 countries and do business within seconds. Access to a global marketplaceīinance P2P gives you access to a global market of cryptocurrency traders. However, if you haven’t received your BUSD within this time, you can contact the seller by clicking the Phone or Chat icon in the P2P UI. Usually, we expect most transfers to be completed in 15 minutes or less. How Long Does BUSD P2P Take to Transfer?Īfter finding a seller that offers a suitable payment method for you, you can begin making your Binance P2P trade. For those who want to buy BUSD without any fees and with alternative payment methods, Binance P2P will likely be the most suitable option. This method also charges fees to the user on most trading pairs. You can also trade for BUSD on the spot market with other cryptocurrencies or fiat on your account. ![]() However, this includes a transaction fee. First, you could use a credit or debit card to purchase BUSD directly with fiat. There are a few main ways to purchase BUSD on Binance. As mentioned earlier, there may also be arbitrage opportunities through purchasing BUSD and cashing it out for fiat. Holding BUSD and Binance-Peg BUSD allows arbitragers to quickly move between exchanges and take advantage of BUSD and Binance-Peg BUSD’s wide acceptance on different platforms. Sometimes, liquidity pools provide arbitrage opportunities as prices can differ across AMMs. BUSD and Binance-Peg BUSD, however, provide highly liquid ways to lock in profits without needing to go off-chain.īoth BUSD and Binance-Peg BUSD are popular stablecoins on Automated Market Makers (AMM) for liquidity pairs. This process can take days to complete and also charge fees. Lock in gains without needing to convert to fiatīefore stablecoins, locking in gains would often require selling your crypto for fiat. BUSD and Binance-Peg BUSD offer a similar opportunity to crypto investors and users in an easily-accessible way. However, there are fewer options than in traditional finance, where fiat or securities are easily traded. There is a real demand for stable assets in crypto for riding out market volatility. This has led to it having a variety of use cases: ![]() Why Do People Use BUSD?īUSD is designed to maintain a stable market value and avoid the volatility often seen in crypto. It is not issued by Paxos nor regulated by the NYDFS. Please note that Binance-Peg BUSD is a Binance product. Binance provides the pegged token service to lock BUSD on Ethereum and issues an equivalent amount of Binance-peg BUSD on other networks. Paxos also releases monthly attestations of BUSD’s reserves for transparency.ĭisclaimer: BUSD is issued on Ethereum by Paxos and regulated by the NYDFS. At any time, BUSD holders can swap their tokens for U.S dollars and vice versa. Paxos offers a Stablecoin as a Service product to external companies, allowing Binance to partner and help create BUSD and Binance-Peg BUSD. What is BUSD?īUSD is a fiat-backed, regulated stablecoin pegged to the U.S. With the current demand for fiat-backed stablecoins like BUSD, Binance P2P is a great option to consider if you want to save money on fees. It still exists and, perhaps surprisingly to some, is one of the cheapest ways to get ahold of crypto. P2P trading was, in fact, one of the first ways that people bought cryptocurrency. However, as time has passed and the ecosystem has developed, we now have various options. Take a look at why BUSD is so popular and why you might want to consider Binance P2P for your next BUSD purchase.īuying cryptocurrencies hasn’t always been cheap or easy. Using Binance P2P to purchase BUSD is one of the only fee-free ways to purchase BUSD.īinance P2P ’s competitive peer-to-peer cryptocurrency trading model means you spend less on fees when purchasing BUSD. BUSD is one of the crypto world’s most popular fiat-backed stablecoins with various use cases. ![]()
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