USDT trading US and Hong Kong stocks

BiyaPay
Published on 2023-07-14 Updated on 2024-11-05

What is USDT?

USDT is a token launched by Tether based on the stable value currency US dollar, that is, 1USDT = 1 US dollar. Tether promises that for every published USDT, the bank account will have a 1 US dollar fund guarantee, so that users can use USDT to exchange 1:1 with USD at any time, and can make fund inquiries on the Tether platform to ensure transparency.
Since publishing, not only all virtual currencies can be traded with USDT, but also USDT can be used to exchange legal currency. Its borderless and free liquidity has driven the development of the virtual currency market to grow faster and faster. In just a few years, the circulating market capitalization It is more than 100 billion US dollars, ranking third in the world in Cryptocurrency assets, second only to Bitcoin and Ethereum.
 

Why trade US and Hong Kong stocks with USDT?

At present, the securities companies that can speculate on US and Hong Kong stocks in the market can be divided into: traditional securities companies and Internet securities companies, US local securities companies and non-US local securities companies, banking securities companies and wallet securities companies according to their attributes and characteristics.
The main differences between traditional securities firms and internet securities firms:
Whether it is possible to open a US and Hong Kong stock account online, whether the account opening experience is good, whether the APP experience and trading environment are good. For example, Tiger Securities and Futu Securities are popular Internet brokerages in recent years. Their APP, account opening, trading and other experiences are very good, and user operation is simple and fast. Another example is Interactive Brokers, which is complicated to open an account. Compared with the APP of Tiger Securities and Futu Securities, its interface, content, and trading aspects are much weaker. Its main customer target is the B-end institution, and it was even the upstream securities of the tiger. It is not very friendly for C-end users, and I believe that users who have experienced it are deeply touched.
Let's talk about US domestic brokerages and non-US domestic brokerages.
The focus of the distinction here is regional supervision. Due to the adjustment of Chinese mainland policies, Internet securities companies that have operated in the Chinese mainland, such as Tiger Securities, Futu Securities, Weiniu Securities, Huasheng Securities, etc., cannot carry out incremental business, and no longer support Chinese mainland customers. New user registration, APP is also offline in the Chinese mainland app store, so new users have to face returning to US local securities companies, such as Charles Schwab and Interactive Brokers, and their disadvantage is that domestic users have a poor experience in registration and trading., Chinese service is also not friendly.
So, what are bank securities firms and wallet securities firms? Why is there such a division?
It is because we need to have certain necessary conditions when trading US and Hong Kong stocks: offshore bank accounts, US dollars and Hong Kong dollars, deposits and deposits to brokerages, etc.
For example, Futu Securities is mainly a Hong Kong stock brokerage, Interactive Brokers is mainly a US stock brokerage, and HSBC Hong Kong is the largest Hong Kong stock brokerage, and its Hong Kong stock holdings can account for more than 50% of Hong Kong. The biggest advantage is that we are in the HSBC bank account. You can buy and sell Hong Kong stocks, which is simple and convenient.
Charles Schwab is the US's largest local brokerage, with a banking license, Charles Schwab provides each user with a bank account with the same name, supports third-party remittance, and integrates brokerage and banking functions, which is unmatched by IB. Although the Chinese service experience is worse, the transaction fee is really low.
Here we will focus on wallet securities companies, such as BiyaPay.