Peer-to-peer (P2P) trading is a form of trading where a buyer and seller directly exchange their crypto and fiat assets with the help of an online marketplace and escrow services.
When a buyer has paid the seller, and the seller has confirmed that the payment is received, the seller has to confirm and release the crypto to the buyer.
Since P2P and spot markets are 2 separate sections, you have to transfer your crypto from the P2P wallet (aka Funding Wallet) to the spot wallet in order to trade in the market. You need to do inversely if you want to trade in P2P.
Be vigilant when trading in P2P
BUSD is a regulated, fiat-backed stablecoin pegged to the U.S. dollar. The supply of BUSD is pegged to the U.S. dollar at a 1:1 ratio. Paxos, the token's issuer, releases monthly attestations of BUSD's reserves.
Balance of BUSD in circulation on 2022-04-29 is $17.6B
As a stablecoin, BUSD is designed to maintain a stable market value. It allows investors and traders to hold a low-volatility asset on the blockchain without the need to exit the crypto space.
There are 2 types of BUSD
- BUSD (ERC-20) issued by Paxos, regulated by New York State Department of Financial Services (NYSDFS)
- BUSD (BEP-20) issued by Binance, not regulated by NYSDFS
BNB stands for "Build and Build".
BNB powers the BNB Chain ecosystem and is the native coin of the BNB Beacon Chain and BNB Smart Chain.
Use case of BNB:
- Reduced trading fees on the Binance exchange or Binance DEX (Decentralized Exchange)
- Pay for transaction fees on the BNB Beacon Chain or BNB Smart Chain
- Pay for goods and services for both online and in-store purchases (e.g., using Binance Card or Binance Pay)
- Participate in token sales hosted on the Binance Launchpad
You can find BNB in three different forms: