Topic: BUSD users will be able to convert Busd to other stablecoins until February 2024 - page 2. (Read 376 times)
September 01, 2023, 11:59:21 PM
If thats the case then the only stable reliable for now are usdt, usdc and dai. Im not fan of others whom just shown up like the tusd of Justin Sun and Fdusd. The support for other stablecoins is much good in my opinion. Well we cant do about the busd case probably due to regulations issue. Its just unfortunate cause busd is good to use ad pairing since Binance has no fees for that. But since theyll be taking it out, I wonder if they will have the same privilege using other stables like tusd or fdusd.
September 01, 2023, 06:02:59 PM
The stable coin that intended to be for Binance now, they're dropping its support. The given timeframe is a long period of time for everyone to convert all their BUSDs into another stable coin.
There's a huge community already for this stable coin and they don't think of it because they still have BNB and its own exchange.
Maybe after the given timeframe, we're going to start seeing it depeg.
There's a huge community already for this stable coin and they don't think of it because they still have BNB and its own exchange.
Maybe after the given timeframe, we're going to start seeing it depeg.
September 01, 2023, 03:21:02 PM
There has to be some good reason for this, either the new york state wanted this, or the SEC did but someone must have asked for this. The usual situation could have been different a bit if there was any problems but there are no problems at the moment neither. Its also still backed, so I hope people do not rush to sell and create a chaos, it should be no problems at all at the current moment. I hope that it gets to a point where they end up finding some other company to do something like this, there is really no reason to just give up. BUSD should have stayed, I do not care what paxos is doing, if they are not doing it, someone else should have picked it up and continued.
September 01, 2023, 02:51:20 PM
I think USDT and BNB has more than done so well that during the time I think, when Binance announced about the depairing of BUSD from its trading pairs, so many persons expressed how the never liked BUSD to begin with.
Kudos on the development, and although I had mistakingly spot traded to BUSD instead of USDT at one time, I saw how high the rate was then as compared to USDT I would have normally opted for but had to use it consecutively after failing to change my trading pair to USDT.
Kudos on the development, and although I had mistakingly spot traded to BUSD instead of USDT at one time, I saw how high the rate was then as compared to USDT I would have normally opted for but had to use it consecutively after failing to change my trading pair to USDT.
September 01, 2023, 01:48:09 PM
Binance is limiting the service of BUSD so they are encouraging their customers to convert their Busd to other stablecoins by February 2024.
If this is coming truly from Binance official website or platform then it is strongly advisible that we take our asset away from BUSD to bitcoin for our good, this can also happen to any other cryptocurrency or stablecoin and we don't know which is next to go bankrupt or get liquidated for any reason, bitcoin investment does not have the fear of missing out which other cryptocurrencies gives with having uncertainties about them.
September 01, 2023, 01:06:53 PM
Have final decision with BUSD removing in Binance exchange but will all trading pair supported with BUSD remove? its difficult how stable coins like BUSD get trouble and any detail deadline for converting BUSD to other stable coins? most pair of my altcoin trading trough BUSD and Binance still opening with all coins with BUSD trading pair, need give announcement to Binance user about deadline day with BUSD removing and they will convert assets to other stable coins.
Right now Binance have many kinds of stable coins from TUSD until FUSD but I don't interested converted BUSD to both stable coins and will priority to USDT, all my trading pair for upcoming day will trade with USDT and seems risk after Binance warning with BUSD removing in their exchange platform.
Right now Binance have many kinds of stable coins from TUSD until FUSD but I don't interested converted BUSD to both stable coins and will priority to USDT, all my trading pair for upcoming day will trade with USDT and seems risk after Binance warning with BUSD removing in their exchange platform.
September 01, 2023, 11:07:34 AM
So a Newbies posted a topic for the stablecoins and his leanings after posting another thread. On that thread, I made a very promising post for the BUSD but what a coincidence after the day passed the very next day Binance made this announcement and I was like what? Haha, why Binance is this is what you give to the BUSD supporters?
And this is why not being a fan of any crypto project, always being positive about that project can lead to bad results. However, so far crypto users have not lost because Binance is giving the option to convert BUSD to other stablecoins, but if any BUSD user does not convert his BUSD to other stablecoins after the time announced by Binance, then it remains to be seen what will happen to them. So there has come a time when it is risky to suggest any project other than Bitcoin because no one can predict when a project will disappear from the market. So Bitcoin should be preferred to hold most of the funds, the project seems super trusted today, there is no guarantee that the project will not make any unexpected announcement the next day.
September 01, 2023, 08:58:32 AM
Hmm Yeah Op, well that was sad news because I really defended BUSD as one of the more preferred stable coins in my view because of their reputation in the market and I used to say it's Binance you should know what it meant when this term is used in this crypto world. So a Newbies posted a topic for the stablecoins and his leanings after posting another thread. On that thread, I made a very promising post for the BUSD but what a coincidence after the day passed the very next day Binance made this announcement and I was like what? Haha, why Binance is this is what you give to the BUSD supporters?
September 01, 2023, 03:45:03 AM
We are discussing about it on this thread: Binance removing support for BUSD
Since we have heard the announcement, people should know that they should not hold BUSD anymore. I am not a fan of BUSD like I said on that thread, I have zero BUSD.
I think this is a good thread to let people know that they should convert their BUSD to a better coin like bitcoin.
I didn't notice that thread. I only bring this news to the attention of traders who still have BUSD. I don't own any BUSD either, I've always kept my distance from this stablecoin. Since we have heard the announcement, people should know that they should not hold BUSD anymore. I am not a fan of BUSD like I said on that thread, I have zero BUSD.
I think this is a good thread to let people know that they should convert their BUSD to a better coin like bitcoin.
But it was a stablecoin with a top marketcap so it is conceivable that they had a large number of users. Binance once tried their best to make BUSD equal to USDT on their platform, they didn't give much importance to other stablecoins, and now BUSD is being delisted from their platform! But Binance never wants to lose the power to control the market, now they are very actively promoting FUSD which means they are moving from BUSD to FUSD now. I also think now traders should convert their BUSD to Bitcoin.
September 01, 2023, 03:10:29 AM
We are discussing about it on this thread: Binance removing support for BUSD
Since we have heard the announcement, people should know that they should not hold BUSD anymore. I am not a fan of BUSD like I said on that thread, I have zero BUSD.
I think this is a good thread to let people know that they should convert their BUSD to a better coin like bitcoin.
Since we have heard the announcement, people should know that they should not hold BUSD anymore. I am not a fan of BUSD like I said on that thread, I have zero BUSD.
I think this is a good thread to let people know that they should convert their BUSD to a better coin like bitcoin.
September 01, 2023, 02:44:09 AM
Binance is limiting the service of BUSD so they are encouraging their customers to convert their Busd to other stablecoins by February 2024. So if you have Busd, then convert it to other stablecoins. According to Binance's new announcement, they will delist all the Busd pairs which they are already doing, they have delisted many trading pairs including spot, futures. So to minimize your risk, if you have busd, exchange them to other stablecoins, because after this news, anything can happen with busd as we have experienced many incidents since last year. Binance and Paxos both claim Busd backed by 1:1 USD. So they are working to prioritize their customers' funds. I also read the announcement of paxos where it said to end the relationship with binance.
Binance's Announcement : https://www.binance.com/en/support/announcement/binance-encourages-users-to-convert-busd-to-other-stablecoins-prior-to-february-2024-d392843e81fd4bc3a5f7e219aa01f34d
Paxos Announcement : https://paxos.com/2023/02/13/paxos-will-halt-minting-new-busd-tokens/
Binance's Announcement : https://www.binance.com/en/support/announcement/binance-encourages-users-to-convert-busd-to-other-stablecoins-prior-to-february-2024-d392843e81fd4bc3a5f7e219aa01f34d
Paxos Announcement : https://paxos.com/2023/02/13/paxos-will-halt-minting-new-busd-tokens/
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