The biggest problem with trading US stocks right now is that depositing and withdrawing funds directly from mainland banks to the securities platform or Hong Kong bank cards is extremely inconvenient. Once you've used up your $50,000 credit limit, it's very difficult to transfer funds from friends and family. Banks will contact you in various ways and may even implement risk control measures on your and your relatives' bank cards. However, it's a different story when you deposit funds using the stablecoin U. I carefully studied Wu Jihan's US stock brokerage platform, BIT. Their advantage is that you can directly deposit and withdraw funds using the stablecoin USDT. I also checked the compliance issues. They are directly connected to licensed brokers in the United States, and the asset security is based on the regulatory mechanism under the traditional financial system. You can use USDT and USDC, deposit and withdraw 24/7, and exchange for USD. It is not a token mapping or CFD contract, and it is a fully compliant securities platform. Today I transferred my USDT from the exchange directly to my BIT wallet, choosing the BSC network. The funds arrived in less than 3 minutes. Most importantly, I needed to convert the stablecoins to USD to buy stocks. I simply clicked "transfer" and the funds were transferred to my BIT securities account. The 7000U was successfully exchanged in about 10 seconds, and the fast transfer is free of service fees. However, exchange rate fluctuations may cause a slight deviation in the amount received, but the impact is relatively small. In addition to stablecoin deposits and withdrawals, bank wire transfers are also available, which is the same as the traditional process of transferring funds from mainland China to overseas. Crypto enthusiasts still prefer stablecoins; they're convenient and simple, and without the exchange limits imposed by mainland banks, they're truly comfortable. If you want to buy the dips, buy USD on an exchange, then transfer the USD to other cryptocurrencies. If you want to withdraw USD, exchange USD for stablecoins and then transfer the stablecoins to the exchange to sell USD. Investing in US stocks should be done early, especially in sectors like AI and nuclear energy that haven't yet been hyped up. Early positioning may bring surprises in the future. There are many long-term investment opportunities in the US stock market. Following global trends will definitely not be bad.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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