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All other sites are scams – especially be wary of:

benumbs.cards & bennumb.cards & bennumbs.cards & benumb.cc & many more…

(it can be hard to notice the S and extra N if not careful.) 

Welcome to the real deal. 

Please bookmark this link — the other sites have simply copy/pasted our html and don’t actually have any cards to sell. 

They can be easy to fall for if you aren’t cautious!

If Binance fails you’ll be able to nonetheless redeem your BUSD for USD – however there’s a catch!!!

Lets put ourselves in a really darkish state of affairs:

1)You’ve BUSD both on CEX or in self custody

2)For no matter motive binance dies

3)BUSD is backed by PAXOS therefore no problemo Imma swap it for USD ezpz… or are you able to?

Properly… sure however solely sure kind of BUSD

So…

BUSD is issued by PAXOS, regulated by NYDFS and holds USD 1:1 in FDIC insured banks or US treasury payments. BUSD can also be one of many few secure cryptocurrencies that present month-to-month audited stories of its reserves.

HOWEVER…

You may redeem your BUSD for USD at any time ONLY IF YOU HOLD ON ETHEREUM!

Key half

“***Binance wraps BUSD and points separate tokens (referred to as Binance-Peg BUSD) on a number of blockchains, together with BNB Sensible Chain, Polygon, and Avalanche. These tokens are unaffiliated with Paxos and never regulated by the NYDFS.”***

https://paxos.com/busd-transparency/

Not saying Binance will or is even more likely to fail however it’s a must to be ready for the worst! Be certain to not maintain BUSD as wrapped token or on some other chain that isn’t Ethereum.

Keep protected 🙂

19 thoughts on “If Binance fails you’ll be able to nonetheless redeem your BUSD for USD – however there’s a catch!!!”

  1. The FTX crash has been an eye opener to this and many other things. I think EEUR is the only stablecoin that’s redeemable on every blockchain it supports. It’s still in its early stages compared to more established stablecoins like BUSD, USDC and USDT.

    Reply
  2. PAXO claims they have $21 billion in a trust and Binance claims they have $23 billion worth of BUSD assets. There seems to be a $2 billion hole.

    Furthermore,
    PAXO listed the face value of their T-bill with long expiration, upto 2039. They aren’t getting that if they need to liquidate on spot rate(with heavy penalty due to fed rate skyrocketing).

    Reply
  3. If Binance dies, one may suddenly find a tiny bit of disclaimer telling you a very different story of how they interpret BUSD. It’s not a good idea to trust anything so closely related to a centralised exchange like Binance.

    Reply

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