The unprecedented popularity of cryptocurrencies, spurred by the boom in 2017, and again in 2020 has facilitated widespread interest in blockchain technology and its many applications. Unfortunately, the volatility of cryptocurrencies has been its greatest Achilles heel, making it difficult for adoptees to place too much faith in this payment method.
However, the blockchain technology arena has been evolving to meet these exigencies, giving rise to a unique cryptocurrency known as a stablecoin. While Bitcoin, Ethereum, Litecoin, Ripple, and Cardano continue to hog the limelight, they are inherently unstable, with dramatic price variations from day to day. Enter Binance USD (BUSD), the new-age crypto of choice for online casinos. It is known as a stablecoin.
This particular digital asset has experienced significant growth in 2021, with January-August market capitalisation increasing by almost 1000%. Simply put, the Binance Smart Chain (BSC) network has rapidly expanded (scaled), to support massive scalability, stability, and adoption.
BUSD has many applications, including buying and selling at parity with the USD, trading, transacting, holding, and using it for online casino entertainment. BUSD is also fully regulated by the New York Department of Financial Services, guaranteeing users of all the consumer protections they need with this financial instrument. It is fully backed by USD which is held at FDIC-insured banks in the United States, and audited for transparency and credibility.
Online casino users can purchase BUSD using USD by debit card, or ACH transfers. It is fully available across all Binance ecosystems, and other platforms including the listed online casinos in this guide. It was built on the ERC 20 ecosystem and can be stored in an Ethereum wallet. Binance USD online casinos list the BUSD cryptocurrency as an available deposit/withdrawal method. You can confidently play at BUSD online casinos knowing that you can always redeem 1 BUSD for 1 US dollar.
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