Binance can now speculate on US stocks, is this thing reliable or not? Specially organized ten questions and ten answers 01) What can I buy on Binance's US stock market? Over 7000 US stocks and ETFs. Yes, you read it right, 7000. It's not about picking a few popular stocks. It's the whole pot end. QQQ、QQQM、QQQI、SPY、MU、GOOGL、NVDA…… You can name most of them. And it supports fragmented stocks, which can be bought for at least $5. What does this mean? It means that with just a few tens of dollars, you can buy a handful of broken shares of Nvidia. In traditional securities firms, it's hard to even imagine. How is the trading time calculated? Is it really 24 hours? Binance says' five days a week, nearly 24 hours'. Note that it is' close ', not really 24x7. There are normal trading hours for the US stock market. There are also pre - and post market options. But the market is still closed on weekends. However, on the other hand, traditional securities firms either do not open before and after the market, or charge additional special fees. Binance has directly packaged it for you. For cryptocurrency enthusiasts who are accustomed to staying up late to watch the market, this is already very friendly. 3) How will the fees be collected? Is it really zero commission? Binance says' zero commission '. However, please note that zero commission does not mean zero cost. What is actually collected is a spread, which is the price difference. The minimum amount for each order is 0.35 US dollars. Orders over $350 will be charged 10 basis points, or 0.1%. To be frank, this rate is not expensive. Traditional brokerage commissions, platform fees, and various miscellaneous fees add up to a similar amount. But you need to be clear in your heart that this is not really 'free'. Just changed the name to collect money. How to settle buying and selling? What is T+? Buying is T+0, selling is T+1. What does it mean? Buy today and sell today. But if we sell today, the money won't be settled until tomorrow. During the settlement period, this money cannot be withdrawn, but it can continue to trade stocks and spot goods. To be honest, this design is quite popular in the cryptocurrency industry. Compared to traditional securities firms' T+2, it is considered fast. But compared to the instant receipt of spot money in the cryptocurrency industry, it is still slower. How to do KYC? Can mainland users play? This is the most concerning issue for everyone. Based on the experience, simply switch the Binance app to Traditional Chinese and the US stock trading function will be displayed. No additional identity authentication is required. Just need to complete the original basic KYC. Let me tell you, this' traditional Chinese switching 'operation is quite tricky. Everyone understands. However, it should be noted that Binance officials are referring to 'non US users'. Mainland users theoretically belong to 'non US users'. But to be honest, I'm not sure how long it will last. After all, policies can change at will. Especially in cracking down on domestic and foreign activities, tigers are an example. Where should I put my stock when I buy it? Can I withdraw money? I have currently bought stocks and placed them in my fund account. Cannot be mortgaged as security deposit. It is also not possible to directly withdraw ready-made fiat currency, and it is still necessary to exchange for dual currency to settle. How to calculate dividends? Do I have to pay taxes? 30% withholding tax on dividends. Currently, Teacher He said there are dividends such as QQ. This is the legal default withholding rate for non resident dividends in the United States. It's not collected by Binance, it's collected by the US government. If you are a Chinese tax resident, you may also need to consider domestic tax declaration in the future. At present, there is no need to consider dual U options. In short, when dividends are received, they will be discounted by 30%, so you need to be aware. Is Binance compliant with this? Binance provides brokerage services through Nest Trading Limited. Nest Trading is a licensed broker of ADGM (Abu Dhabi Global Markets). Clearing and custody will be entrusted to Alpaca, a licensed brokerage firm in the United States. So there is a compliance framework. Side note: However, it should be noted that bStocks (tokenized stocks) have not yet been officially launched. That requires additional approval from FSRA (Abu Dhabi Financial Regulatory Authority). The current US stock trading is traditional stock trading, not on chain. What is bStocks? What is the difference between the stocks you are buying now? BStocks is a tokenized stock launched by Binance. Simply put, the stocks you buy can be converted into tokens on the BNB Chain. After being converted into tokens, it can be settled in near real-time. You can also participate in DeFi, such as collateralized lending, liquidity mining, and so on. However, it should be noted that bStocks "does not represent direct ownership of the equity of the target listed company". It is more like a 'certificate' or 'credential'. Moreover, bStocks has not yet been launched and is expected to be launched in the coming weeks. The current US stock trading is essentially the same as the stocks bought by traditional securities firms. 10) What does this mean for traditional securities firms? Binance has officially declared war on established securities firms in the market. Think about it, a cryptocurrency user who was originally planning to speculate on Binance and then open an account with Futu or Tiger to buy US stocks. No need now. One app handles everything. Buy QQ with U, earn U and then use it for consumption. This is the 'super application' that Binance wants. For traditional securities firms, this is not about grabbing business, this is about reducing maintenance and hitting. CRS？ Cross border? It's not necessary anymore. On site premium? Off site limit? Buy QQ with Binance and make use of your U card to make purchases. They say this is the meaning of blockchain. when it comes down to it The listing of Binance on the US stock market appears to have an additional trading portal. At the bottom level, Binance is building a bridge from cryptocurrency to traditional assets. In the short term, it has made it easier for cryptocurrency users to allocate to US stocks. In the long run, it may change the overall pattern of cross-border investment. But there are also risks involved. Policy risk, compliance risk, and liquidity risk all exist.