There are now two cryptocurrencies available on Binance: Binance Coin (BNB) and Binance USD (BUSD).

Given that each has unique qualities, it begs the issue of why both are seen as essential components of the Binance ecosystem.

What are the differences between BNB and BUSD, and can they be used interchangeably?

Despite the fact that Binance founded both, their goals are very different. In addition to facilitating transactions (including the conversion of BUSD to BNB) and providing trading fee incentives on the platform, BNB serves as the utility token for the Binance Exchange and Binance Smart Chain. The BUSD cryptocurrency, on the other hand, is categorized as a stablecoin with a value that is closely tied to the US dollar and is intended for usage in the cryptocurrency market.

The differences between these two cryptocurrencies are clarified by the thorough comparison that follows:

Use Cases

Binance Coin was initially only used to get rebates on trading commissions. Reducing fees by using BNB was a benefit that persisted at a 25% discount until 2022, after which it would gradually drop from 25% to 6.75% during the succeeding years. BNB’s utility was expanded with the launch of the Binance Smart Chain, which later served as the engine for the whole Binance ecosystem. Pancakeswap became as one of the most well-known initiatives thanks to its expansion, which enabled a number of other projects. BNB also acts as an authorization mechanism for transactions on the Binance Smart Chain.

The BUSD Stablecoin

BUSD, on the other hand, performs as a stablecoin since its value is inextricably linked to the US dollar. As a result, 1 BUSD seeks to precisely equal 1 USD. BUSD has a higher percentage of cash and cash equivalents, making up 96% of its reserves, compared to other stablecoins like USDT, which only have 2.9% of their reserves in cash. The redemption of 1 BUSD should theoretically result in the payment of 1 USD because the value of BUSD is directly supported by the US dollar. It’s crucial to remember that BUSD abides by strict rules and complies with the requirements of the New York State Department of Financial Services (NYDFS). BUSD has the ability to spark interest while being mostly utilized as a trading pair with other cryptocurrencies.

Corporate Support for BNB and BUSD

Binance Exchange introduced BNB as its utility token back in 2017. In contrast, Binance developed BUSD in partnership with Paxos, a financial services company based in New York. All of the US currency backing the BUSD reserves is pledged as security. It’s important to note that the establishment of BUSD came two years after that of BNB.

Stability of Value

BUSD experiences significantly fewer price volatility than BNB because it is a stablecoin. Due to Binance’s practice of buying and burning BNB tokens, which effectively reduces their supply and creates the possibility of price fluctuations, BNB’s value is more volatile. BNB is therefore the more uncertain token to possess. However, keeping BNB for a long time may result in appreciation for individuals who have faith in the Binance ecosystem.

Existing Trading Pairings  

Trading any cryptocurrency on Changehero.io is feasible using either BNB or BUSD, making it possible to convert BTC to BNB or other cryptocurrencies. BNB and BUSD are widely accepted on the site for buying a wide range of cryptocurrencies because Binance developed both of them. The price of BNB’s trading pairs can be more volatile, which could affect how much Bitcoin one buys; in contrast, the price of BUSD’s trading pairings tends to be more stable.

It is no longer a rumor that in the Nigerian music scene, there is more to it than meets the eye. So many people have accused the Nigerian music scene of being a cabal where you have to “belong” before you can excel or “blow” and remain relevant. Some of the groups parading as record labels are just criminal gangs using record labels as cover for their criminal activities like internet fraud, drug trafficking etc and if you dare try to exit or speak up they will make your life miserable. They will harass you, assault you, beat you up and blacklist you in the industry so that nobody ever sees your limelight again. 

From the media outburst, all hands have been pointing towards Naira Marley, the deceased former record label boss and Sam Larry, someone we may choose to call “a consultant” in the Marlian music group. There was a series of videos of Sam Larry with his boys attacking Mohbad, and the most recent one was a video of Sam Larry with some other group of thugs accosting Mohbad with Machetes at the venue where Mohbad was shooting the video of his song with Zlatan Ibile. 

We have seen other videos too of Naira Marley assaulting and beating up Mohbad.

The late victim did report several times to the police, he in some of the petitions had pleaded with the Nigerian police force to save his life, in fact, the most recent report was the petition he filed to the Lagos state police command in June this reporting the assault of Sam Larry against him and storming the scene of his video shoot with boys assaulted him and his crew and damaged his shooting equipment worth millions of naira.

As expected, the police did not do anything or even invite Sam Larry or Naira Marley for questioning till the guy died from what he was running from, instead, Naira Marley was rewarded by being made an ambassador of the National Drug Law Enforcement Agency (NDLEA).

While no one can specifically point towards anything to have been the direct cause of the death of Mohbad, every insider or those close to him has been testifying to the fact that it was the series of ordeals he had in the hands of Naira Marley and Sam Larry that led to his untimely demise. I personally have spoken to some of his close friends and they all said the same thing.

The police need to swing into action and investigate the events leading to the death of this promising young lad and also do well to uncover the dark side of the Nigerian music industry.