Binance USD is a stablecoin Binance blockchain. Represented by the symbol BUSD, the token is a fiat-backed cryptocurrency. It is pegged to the US dollar at a ratio of 1:1. Being a stablecoin, BUSD overcomes one of the greatest disadvantages of cryptocurrency: volatility. Since the token’s value is fixed, users don’t need to worry about price fluctuations.

Moreover, it is a decentralized token, so there is no authority to control the circulation of BUSD. Thus, BUSD is a unique investment and a great asset to invest your money in. You can exchange your tokens for fiat currency via the following methods.

Use Binance USD Cryptocurrency Exchanges
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Use Binance USD Cryptocurrency Exchanges

Using a cryptocurrency exchange is one of the most popular ways to convert your BUSD tokens to fiat currency. Just follow these simple steps:

  • Once you have decided on the cryptocurrency exchange of your choice, make an account on the platform. 
  • Link your bank account to this account to facilitate a smooth funds transfer.
  • Decide how many tokens you want to exchange, and transfer them from your crypto wallet. 
  • Select the fiat currency you wish to exchange it for.
  • The due amount will be transferred to your account once the transaction is processed.
Sell Binance USD to Another Person
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Sell Binance USD to Another Person

Another method of exchanging your BUSD coins for traditional money is selling them to another person. Two types of platforms enable you to sell your tokens to another person.

P2P platforms allow you to conduct your transactions directly with the person you want. Select a buyer for your BUSD tokens, and enter the buyer’s wallet address. Once the tokens are transferred to the buyer’s account, the due amount will be sent to the seller’s bank account. 

Brokerages are cryptocurrency exchange platforms that use a third-party institution in the process. In other words, a broker looks over the complete transaction process, so you don’t have to worry about anything. You only need to pay a brokerage fee for using the service.

Use Binance USD ATMs
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Use Binance USD ATMs

Cryptocurrency ATMs allow you to exchange your crypto tokens for fiat currency directly. Unfortunately, at the moment of writing this article, BUSD has not yet issued any ATMs. But with the rising popularity of the token, it should not be long before BUSD ATMs become the norm. 

FAQs

Can I exchange my BUSD coins for fiat currency?

Yes, you can easily exchange your BUSD tokens for fiat currency using a cryptocurrency exchange or selling your tokens to another person.

How do I sell my BUSD tokens to another person?

You can use two kinds of platforms to sell your tokens to another person, P2P or brokerage platforms. 

What is the reason for the popularity of BUSD? 

BUSD is a decentralized stablecoin, so the token overcomes the volatility problem while also getting rid of a central authority. 

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