USDS is a stablecoin that is pegged to the US dollar. Binance USDC is a collaboration between Binance and Circle.
Circle is a financial services company that offers a suite of products including USDC. Binance USDC is an ERC20 token that is backed by the US dollar.
Binance will be the first cryptocurrency exchange to list USDC, and will also offer trading pairs with BTC, ETH, BNB, and XRP. USDC will be available for trading on Binance December 18, 2018 at 09:00 AM (UTC).
What is a Stablecoin?
A stablecoin is a digital asset that is pegged to a stable asset, such as the US dollar. The peg ensures that the price of the stablecoin does not fluctuate wildly like other cryptocurrencies.
This makes stablecoins attractive to investors who want to avoid the volatility of the cryptocurrency markets.
NOTE: WARNING: USDS is a stablecoin offered by Binance, but it is not a regulated form of currency. Investing in USDS carries significant risk and may not be suitable for all investors. Before investing in USDS, potential investors should carefully consider the potential risks, rewards and costs associated with trading or holding this asset.
What is Binance USDC?
Binance USDC is a collaboration between Binance and Circle. Circle is a financial services company that offers a suite of products including USDC.
Binance USDC is an ERC20 token that is backed by the US dollar. 1 Binance USDC = 1 USD.
Why is Binance Listing USDC?
Binance believes that stablecoins will play a major role in the cryptocurrency industry as they provide stability and certainty in an otherwise volatile market. By listing USDC, Binance provides its users with another way to hedge against volatility and store value in cryptocurrency.
What are the Benefits of Using Binance USDC?
Using Binance USDC has several benefits including:
-Avoiding volatility: As a pegged coin, 1 Binance USDC always equals 1 USD. This stability can help investors avoid the wild swings in prices that are common in the cryptocurrency markets.
-Easy conversion: Binance USDC can be easily converted into other cryptocurrencies or fiat currency through the Binance exchange.
-Flexible use: Because it is an ERC20 token, Binance USDC can be used in Ethereum-based decentralized applications (dApps).
7 Related Question Answers Found
TUSD is a stablecoin that is pegged to the US Dollar. It is an ERC20 token that is issued by the TrustToken platform. The TrustToken platform is a decentralized platform that allows for the creation and trade of digital assets.
Usdt on Binance is a digital asset that is pegged to the US dollar. This means that each Usdt is worth 1 US dollar. The advantage of using Usdt is that it is much more stable than other cryptocurrencies, which can be very volatile.
Binance USD (USDB) is a stablecoin developed by Binance and Paxos. USDB is an ERC20 token pegged to the U.S. dollar on a 1:1 ratio.
There are different levels of KYC on Binance, and the level you are on will determine how much information you will need to provide in order to use the exchange. The different levels are as follows:
Level 1: Basic KYC
For level 1 KYC, you will need to provide your full name, country of residence, and a valid email address. You will also need to create a strong password.
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