Today I’m going to tell you some interesting facts about #bStock that most people don’t know:
1. The token’s quantity can change on its own
When a company pays dividends, the number of your tokens automatically increases via the Multiplier. You don’t have to do a thing - you just wake up and you’ve got more tokens. However, the price per token remains the same, whilst the total value of your position increases.
2. SpaceX never pays dividends. Greedy lot.
$SPCXB , $TSLAB , $NVDAB - these are companies that do not pay dividends at all. So if you’re buying these tokens for ‘passive income’, you’ll be waiting in vain. Micron, Apple, IBM, Goldman Sachs - that’s a different story.
3. The 1:1 conversion is sometimes suspended
Before the dividend snapshot date, #Binance temporarily suspends the conversion of bStocks back into actual shares. If you’re planning to exit your position, be sure to keep an eye on the announcements.
4. Interesting fact: Americans can’t trade them
bStocks are unavailable to US residents. It’s paradoxical that tokens representing US shares are off-limits to Americans themselves.
5. You can trade them against $BTC - You definitely didn’t know that))
Most people think that bStocks are only traded against USDT. But via Binance Convert, you can exchange them for BTC and other assets, with no conversion fee.
6. Public reserves
At https://www.binance.com/en/proof-of-collateral/bstocks, you can check how many actual shares the custodian currently holds. In real time. Most exchanges do not display this information.
7. Dividends are taxed before they are credited
Before adding tokens to your account, Binance has already deducted US withholding tax. This means you receive the ‘net’ amount after tax.
If you’ve learnt something new, please leave a ‘+’ in the comments))
#bstockscis @BinanceCIS
1. The token’s quantity can change on its own
When a company pays dividends, the number of your tokens automatically increases via the Multiplier. You don’t have to do a thing - you just wake up and you’ve got more tokens. However, the price per token remains the same, whilst the total value of your position increases.
2. SpaceX never pays dividends. Greedy lot.
$SPCXB , $TSLAB , $NVDAB - these are companies that do not pay dividends at all. So if you’re buying these tokens for ‘passive income’, you’ll be waiting in vain. Micron, Apple, IBM, Goldman Sachs - that’s a different story.
3. The 1:1 conversion is sometimes suspended
Before the dividend snapshot date, #Binance temporarily suspends the conversion of bStocks back into actual shares. If you’re planning to exit your position, be sure to keep an eye on the announcements.
4. Interesting fact: Americans can’t trade them
bStocks are unavailable to US residents. It’s paradoxical that tokens representing US shares are off-limits to Americans themselves.
5. You can trade them against $BTC - You definitely didn’t know that))
Most people think that bStocks are only traded against USDT. But via Binance Convert, you can exchange them for BTC and other assets, with no conversion fee.
6. Public reserves
At https://www.binance.com/en/proof-of-collateral/bstocks, you can check how many actual shares the custodian currently holds. In real time. Most exchanges do not display this information.
7. Dividends are taxed before they are credited
Before adding tokens to your account, Binance has already deducted US withholding tax. This means you receive the ‘net’ amount after tax.
If you’ve learnt something new, please leave a ‘+’ in the comments))
#bstockscis @BinanceCIS