Cryptocurrency stocks are a digital version of traditional stocks that can be traded anywhere and anytime around the world.
Token stocks can be considered as a bridge between cryptocurrencies and Wall Street where you can trade traditional stocks with cryptocurrencies .
Here are some of the main advantages of cryptocurrency over traditional currencies:
Cryptocurrency stocks can be traded 24/7, and unlike traditional stocks, there is no opening or closing time.
The second major difference is the split or divisibility. Cryptocurrency stocks allow you to own a portion of the stock instead of an entire unit of stock. So, now you don't have to buy a whole stock, as you can buy a portion of the stock according to your affordability.
The most prominent and popular cryptocurrency trading platform
Cryptocurrency stocks are still in a very early stage and some cryptocurrency trading platforms have already taken the lead. Currently (December 2021), crypto stocks can be traded in the form of digital currencies on three prominent trading platforms, such as:
Trading platform FTX, Bittrex and Binance.
1. Cryptocurrency Derivatives Exchange FTX:
FTX ranks 6th in CoinMarketCap's ranking of derivatives trading platforms with over 120 token pairs.
FTX was launched in February 2019 and is widely known for its token stocks. And popular stocks like Amazon, Tesla, Netflix, etc. can be traded on FTX in both futures and spot markets.
2. Bittrex Cryptocurrency Exchange:
Bittrex is among the oldest cryptocurrency exchanges that recently made news for delisting privacy coins.
Bittrex is the 13th spot trading platform on CoinMarketcap with over 691 market pairs. Popular token stocks such as Apple, Tesla, GME, etc. can be traded.
3. Cryptocurrency exchange Binance:
Binance needs no introduction and is currently the largest cryptocurrency exchange by volume.
TSLA in dollars was trading at $677.02, and the dollar TSLA stock symbol was valued at $6.77 per coin.
TSLA cryptocurrency shares were available for trading against the original stablecoin BUSD and all settlements took place in the same token.
Where traders can buy TSLA cryptocurrency shares in US dollars and start trading on the exchange like any other digital asset. Binance previously confirmed that other popular stock symbols will be added later at the request of the client, but it did not complete its course.
Previously, Tesla and Coinbase shares could be traded using the option of stock symbols in Binance, but the strict regulatory measures discouraged the platform from continuing its offering, which led it to stop it subject to regulatory directives.
Technology bridges to a more inclusive financial future
See More : what are nfts
The launch of cryptocurrency stocks on Binance is a testament to bridging the gap between the digital finance market and the traditional finance market, at which point he stated:
Binance serves many users around the world and we are very happy to be able to help them participate in the stock market.
By connecting traditional markets and digital currencies, we are building another technological bridge to a more inclusive financial future
Earlier, FTX launched a stock-like token for Airbnb and several other traditional stocks that can be traded along with other digital assets.
However, the withdrawal of Binance from the market is a great loss for this new innovation, being a market leader that would ensure greater market exposure to these encrypted assets in the form of digital currencies.
Post a Comment