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Venus BUSD VBUSD Price

$0.022

-0.01%

$

24h Range

$

Market Cap

$60,119,929.2

Fully Diluted Valuation

$60,119,929.2

24 Hour Trading Vol

$0

Circulating Supply

2,694,770,470.0

Total Supply

2,694,770,470.0

Max Supply

Info

VBUSD Price Statistics

Venus BUSD Price

$0.022

24h Range

$undefined - $undefined

Percent Change 1h

0.01%

Percent Change 24h

-0.01%

Percent Change 7d

0.03%

All-time high

$0

All-time low

$0

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About Venus BUSD

What is Venus BUSD (VBUSD)?

Venus BUSD (VBUSD) is a decentralized stablecoin that operates on the Venus Protocol, a money market platform built on the Binance Smart Chain (BSC). As a stablecoin, VBUSD aims to maintain a 1:1 peg with the US Dollar, providing users with a reliable medium of exchange that mitigates volatility typically associated with cryptocurrencies. VBUSD is minted through the collateralization of assets, allowing users to borrow against their crypto holdings while supplying liquidity to the market.

Who are the Founders of Venus BUSD?

Venus BUSD was developed by the Venus Protocol team, which was co-founded by key figures in the blockchain and DeFi space, including Joselito Lizarondo, who serves as the CEO, and other contributors with backgrounds in finance and technology. The project has garnered attention for its focus on creating a decentralized money market that empowers users to earn yields on their crypto assets while providing liquidity.

How does Venus BUSD Work?

Venus BUSD works by utilizing a two-token system: the Venus token (XVS) and the stablecoin VBUSD. Users can supply various cryptocurrencies as collateral to the Venus Protocol, which then allows them to mint VBUSD based on the collateral value. The protocol employs an algorithmic approach to maintain the peg of VBUSD to the US Dollar, relying on over-collateralization to ensure stability. Users can also earn interest on their supplied assets and participate in governance through XVS tokens, which allow holders to vote on proposals and changes within the protocol.

Mechanics of VBUSD Minting

To mint VBUSD, users must deposit supported cryptocurrencies into the Venus Protocol. The maximum amount of VBUSD that can be minted is determined by the collateral value based on the asset's current market price and the collateralization ratio specific to each asset. The platform uses smart contracts to facilitate these transactions securely and transparently.

Top Use Cases of Venus BUSD

Venus BUSD has several notable use cases:

  • Decentralized Lending and Borrowing: Users can lend their assets to earn interest or borrow against their crypto holdings, creating a flexible financial ecosystem.
  • Stable Transactions: VBUSD serves as a stable medium of exchange, ideal for trading and payments within the DeFi space, minimizing exposure to volatility.
  • Yield Farming: Users can participate in yield farming by supplying liquidity to various pools, earning rewards in the form of interest and XVS tokens.
  • Collateral for Other DeFi Services: VBUSD can be used as collateral in other DeFi protocols, enhancing its utility across the decentralized finance landscape.

How to Keep your Venus BUSD Safe?

Ensuring the safety of your Venus BUSD involves several key practices:

  • Use Hardware Wallets: Store your VBUSD and other cryptocurrencies in hardware wallets, which provide an offline storage solution that is less vulnerable to hacks.
  • Enable Two-Factor Authentication: Activate two-factor authentication on any platform where you store or trade VBUSD to add an extra layer of security.
  • Stay Informed: Keep up with updates from the Venus Protocol team and broader DeFi community to be aware of any potential vulnerabilities or changes in the protocol.
  • Audit and Verify Smart Contracts: Before interacting with any DeFi platform, check if the smart contracts have been audited by reputable firms to ensure their security.
  • Be Cautious with Phishing Attacks: Always verify URLs and be cautious of unsolicited communications that could lead to phishing attacks.

How to Invest in Venus BUSD (VBUSD)?

Investing in Venus BUSD (VBUSD) or any other cryptocurrency involves several steps:

1Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.

2Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.

3Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.

4Buy Venus BUSD: Once your account is funded, you can purchase Venus BUSD directly from the exchange. Choose the desired amount and complete the transaction.

Investing in Venus BUSD (VBUSD) Using Botsfolio:

Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in Venus BUSD using Botsfolio, follow these steps:

  • Create a Botsfolio Account: Sign up for a free account on the Botsfolio platform.
  • Create Portfolio: Select an investment type from available options such as Premade crypto portfolios OR Custom crypto portfolio.
  • Connect Your Exchange: Link your chosen cryptocurrency exchange account to Botsfolio through fast connect or API key to enable seamless investing.

Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.

What is the Price Prediction for Venus BUSD (VBUSD) in the Long Term?

Venus BUSD (VBUSD) is currently trading at $0.022 and exhibits good potential for future growth. Check the latest Venus BUSD (VBUSD) price prediction.

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