Users can use, sell or buy USDT as if they were using their regular fiat currency. USDT (Tether) is a stablecoin secured to the USD. So, BUSD owners can transfer stablecoins between these blockchains according to their terms. Besides, BUSD lives on three blockchains: Binance Smart Chain, Binance Chain, and Ethereum. As the dollar fluctuates, the value of the resilient coin also grows or falls.īUSD owners can transfer their stablecoins for US dollars and vice versa. For every BUSD you buy, there is one dollar in reserve. What is BUSDīinance and Paxos organized BUSD to give transactions three essential qualities: speed, flexibility, and affordability.īinance USD is a fiat-backed fixed stablecoin with a similar value as the USD. While there are dozens of different stablecoins, the two most common are Tether (USDT) and Binance USD (BUSD). Most of the other stablecoins are modeled after it. Therefore, stablecoins are a more regular cryptocurrency option because they are obtainable around the clock standard and do not depend on common banking channels. Originally, stablecoins were used to buy popular cryptocurrencies as many exchanges did not have bank entrances. In theory, users can get their primary currency back at a one-to-one valuation. The issuer of the coin has a reserve with assets that guarantee buyers that the coins issued can be redeemed at any time. Stablecoins are not highly prone to price fluctuations because the value of a currency is tied to another stable asset, mainly dollars or euros. Mainstream crypto assets are beneficial precisely because you don’t need to trust intermediary institutions. The value of a stablecoin is tied to gold or fiat currency to secure a stable price. What are Stablecoinsįiat-backed cryptocurrency is stablecoin. Let’s consider in more detail what are their similarities and differences from each other. Tether (USDT) and Binance USD (BUSD) are the most popular stable currencies today. It means that they have considerable potential for safer contributions. You can set Binance as your preferred withdrawal method and enable auto-pay to withdraw automatically to Binance every payday.Stablecoin is a more reliable and less volatile cryptocurrency than its well-known equivalents, such as ETH and BTC. See: How do I find my Binanace Pay ID?Ĭongratulations! Binance is now available in your saved Withdrawal Methods. You can find your Binance Pay ID on the Binance website. If you need to use a different email address please contact us.
The email address registered to Binance must match the email address registered with Deel. ✅ Step 3 - Add your email address and Binance Pay ID (1) Go to Account Settings, (2) Select the Withdrawal Methods tab, and (3) click Add Method.
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How to set up withdrawals with Binance ✅ Step 1 - Add a new withdrawal method Please see: How Do I Find My Binance Pay ID? Please contact us if you would like to use another email address. Unfortunately this withdrawal method is not compatible with at this time.īoth your Deel and Binance accounts must be registered to the same email address.
This withdrawal method is only available to independent contractors using the Binance International platform. You can withdraw your funds directly to the Binance platform. Use Binance to withdraw your funds in BUSD - Binance's US dollar-backed stablecoin.
This article explains how to use Binance to withdraw your Deel balance.
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