The cryptocurrency market is evolving rapidly, with about 6,000 cryptocurrencies. Some tokens have a wide range of applications. For example, ETH is used on various websites as a payment currency. Other tokens, like BNB and BUSD, are narrower in scope.
In 2021, BNB and BUSD coins were ranked among the world’s most traded cryptocurrencies. They both are launched by Binance, the leading world blockchain ecosystem.
Despite being released by the same service, BNB and BUSD feature different purposes. The first is to be used only on the origin platform – Binance. The latter is good for a broader scope of applications. Whether it’s profitable to swap BNB to BUSD is relevant.
To answer this question, it should be highlighted that Binance USD is a stable coin. US Dollars always collateralize its price. One BUSD costs one dollar. The market cap of this cryptocurrency is about $1$14,198,754,859.
The price of BNB is about $458. Its highest price ever was $690.93. In 2022, the coin’s value is expected to grow up to $600. The market cap is over $$76,182,625,550.
It’s not a good idea to swap BNB to BUSD unless it is necessary to perform some actions outside the Binance ecosystem. Binance USD is not the best choice for trading or investing.
Helpful Tips of How to Swap BNB to BUSD Fast and Easy
If you need to convert BNB to BUSD, there are only a few steps you should take to reach your goal. They are the following:
- Find the most appropriate online converter. Of course, not only does Binance supports this type of exchange. Nowadays, there are many versatile platforms where you may perform the conversion. For instance, the crypto exchange platform – LetsExchange, allows you to swap one asset to another without any difficulties. You even do not need to register on the site (of course, you can do it if you desire to get extra perks such as larger limits).
- Fill in an online form for exchange. The form may differ from service to service. Most often, you have to enter the following data: the crypto coin you desire to convert, the crypto coin you desire to get, your digital wallet address, etc.;
- Send the money. Thanks to using an online calculator, you always know how much you should send. All fees are usually included in this sum.
- The service completes the procedure. The platform compares feasible options, selects the most profitable rate, and performs the swap.
The good news is that BNB to BUSD exchange process takes only a couple of minutes and is performed online.
So, if you desire to swap BNB to BUSD at the best price, you have to monitor the market to catch the most profitable rates of the Binance coin. Yet, you should convert the Binance coin to Binance USD only if you need to utilize the currency mentioned above. BUSD is not the best solution for investments.