Tikai pirms nedēļas es sāku finansiālu ceļojumu, kas šķita pārāk labs, lai būtu patiesība. Bruņojies ar tikai 500 USD kabatā, es iedrošinājos kriptovalūtas pasaulē ar īpašu mērķi: noskaidrot, vai es varētu pārvērst šo pieticīgo ieguldījumu par kaut ko būtiskāku. Es nezināju, ka tuvākās dienas atnesīs satraukuma un iespēju virpuli.

Stratēģija sākas

Mans ceļojums sākās ar rūpīgu izpēti. Es pārlēju rakstus, noskatījos neskaitāmus YouTube videoklipus un pievienojos kriptovalūtu forumiem, lai izprastu tirgus smalkumus. Stratēģija, kuru es izvēlējos, bija skaidra: identificējiet daudzsološus altkoīnus ar spēcīgiem pamatiem un izaugsmes potenciālu.

Binance, the world's largest cryptocurrency exchange, announced its plan to end support for BUSD, its stablecoin pegged to the US dollar, in a statement published on August 31, 2023. This decision is due to the increasing regulatory pressures it faces. Binance in several countries, which question the legality and security of its operations.

What is BUSD?

BUSD (Binance USD) is a cryptocurrency that was launched in September 2019 as part of a partnership between Binance and Paxos, a New York-based blockchain and finance company2. BUSD has a 1:1 exchange rate with the US dollar, meaning each BUSD is equivalent to one dollar. This allows users to transact with a stablecoin and avoid the volatility of other cryptocurrencies.

BUSD is backed by reserves of US dollars that are stored in segregated accounts and audited monthly by an independent firm. Additionally, BUSD is regulated by the New York State Department of Financial Services (NYDFS), which grants it a license to operate as a virtual currency. This gives BUSD a higher level of trust and security than other stablecoins.

BUSD can be purchased with other cryptocurrencies or fiat money on different exchange platforms, such as Binance, Coinbase, Crypto.com, Gemini, etc. It can also be used to pay transaction fees, exchange for other tokens, earn interest, participate in reward programs, and access other services on the Binance network.

Why did Binance stop supporting BUSD?

Binance announced its plan to stop supporting BUSD in a statement published on August 31, 2023. According to the statement, Binance will take the following actions:

Starting September 30, 2023, users will not be able to deposit or withdraw BUSD from their Binance accounts.

Starting October 31, 2023, users will not be able to buy or sell BUSD on the Binance exchange.

Starting November 30, 2023, users will not be able to send or receive BUSD from their Binance addresses.

Binance urged users to convert their BUSD to other currencies or withdraw them to other platforms before the deadlines. Additionally, Binance indicated that it will gradually eliminate BUSD as a pair for exchanges with other cryptocurrencies in its Spot and Margin wallets. It will also stop offering BUSD on Binance Pay and gift cards.

The reason behind this decision is the increasing regulatory pressure that Binance faces in several countries, which question the legality and security of its operations. Some countries have banned or restricted access to Binance on the grounds that it does not comply with financial and anti-money laundering regulations. Other countries have warned users about the risks associated with using Binance due to its lack of licensing or oversight.

By ceasing support for BUSD, Binance seeks to reduce its regulatory exposure and avoid potential sanctions or lawsuits. It also seeks to protect its users and partners against possible inconveniences or losses. However, this decision also implies a loss of market and competitiveness for Binance, since BUSD is a popular stablecoin and in demand by users.

What alternatives are there to BUSD?

Users who want to continue using a stablecoin pegged to the US dollar have several options available on the market. Some of them are:

USDT (Tether): It is the oldest and most used stablecoin in the world, with a market capitalization of more than $68 billion. USDT has a 1:1 exchange rate with the US dollar and is backed by asset reserves including cash, cash equivalents and other assets. USDT is available on various blockchain networks, such as Ethereum, Tron, Solana, etc. USDT can be bought, sold and traded on most cryptocurrency platforms, including Binance.

USDC (USD Coin): is a stablecoin launched in 2018 by the Center consortium, formed by Coinbase and Circle. USDC has a 1:1 exchange rate with the US dollar and is backed by reserves of US dollars that are stored in regulated bank accounts audited monthly by an independent firm. USDC is available on various blockchain networks, such as Ethereum, Algorand, Stellar, etc. USDC can be bought, sold, and traded on many cryptocurrency platforms, including Binance.

DAI (Dai Stablecoin): is a stablecoin launched in 2017 by MakerDAO, a decentralized autonomous organization (DAO) that operates on the Ethereum network. DAI has a 1:1 exchange rate with the US dollar and is backed by collateral from other cryptocurrencies that are deposited in smart contracts called Vaults. DAI dynamically adjusts to market conditions to maintain its stability through incentive and governance mechanisms. DAI can be bought, sold and traded on various cryptocurrency platforms, including Binance.

The best way to make money from crypto airdrops is to:Do your research: Before participating in any airdrop, it is important to do your research and understand the project behind the tokens. This includes the team, the technology, and the roadmap.Be selective: Not all airdrops are created equal. Some are scams, while others are simply not worth your time. Only participate in airdrops that you believe have the potential to be successful.Participate early: The earlier you participate in an airdrop, the more tokens you are likely to receive. This is because the distribution pool is usually limited.Hold your tokens: If you believe in the project behind the tokens, you can hold them for long-term appreciation. However, if you are looking to make a quick profit, you can sell the tokens once they are listed on an exchange.Here are some additional tips for making money from crypto airdrops:Use a crypto airdrop tracker: There are a number of websites and Telegram channels that track crypto airdrops. These can help you find new airdrops and stay up-to-date on the latest news.Join crypto communities: There are a number of active crypto communities on social media. These can be a great way to learn about new airdrops and find people to collaborate with.Be patient: Airdrops can take some time to materialize. Don't expect to get rich quick.It is important to remember that airdrops are not a guaranteed way to make money. However, if you are willing to do your research and be patient, you can increase your chances of success.According to a report by U. Today, the top airdrop hunters earned over $18,000 in 2022. However, it is important to note that this is just a small number of people. The vast majority of airdrop participants earn much less.If you are looking to make a living from crypto airdrops, it is important to be realistic. Airdrops are a great way to get free cryptocurrency, but they are not a get-rich-quick scheme.