If You Got A Ledger You’ll Want To Know How To Secure Binance USDT(BUSD): Here’s How
In the world of cryptocurrencies, Binance is the leading exchange platform. Binance USDT is a new USD-denominated stablecoin approved by the New York State Department of Financial Services (NYDFS) issued in partnership with Binance.
Therefore, BUSD is fully backed by U.S. dollars at a 1 BUSD = $1.00 USD. BUSD offers faster ways to fund trades and is accepted as a medium of exchange, store of value, and method of payment across the global crypto ecosystem.
This is why it is important that you know how to safely secure your BUSD. All you need is either a Ledger Nano S/X and follow these 5 simple steps. Please note, that while this demo uses the Ledger Nano X, the same principle applies to a Ledger Nano S.
Before you begin: You will need to have Ledger Nano X/S hardware wallet, and Ledger Live app installed on your computer or mobile device.
Before you begin: Make sure your Ledger Live application is up to date:
- Download Windows 10 Ledger Live update
- Download MAC OS Ledger Live update
- Download Android Ledger Live update
Note: to secure the BUSD tokens you first need to have the Ethereum app installed on your Ledger Nano X/S. This is because BUSD is an ERC-20 token. Once Ethereum is installed you can then add BUSD to your account and manage your funds from there.
