FRI · 2026.05.27 · vol. 1 issue #001
简体中文 · English
crypto notes for beginners

Writing down every step where beginners get stuck.

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Articles

Exchanges & wallets
BOTS · HOME PC OR VPS

Do Trading Bots Need Your Computer On? Home PC vs. VPS

An exchange's built-in grid bot doesn't need your computer on. A bot you run yourself does: home PC or VPS, and which terms to check before you rent one.

2026.10.13 10 min read →
Trading basics
US STOCKS · SETTLEMENT AND CASH ACCOUNTS

Cash Account Freeriding: T+1 and the 90-Day Freeze

US stocks settle T+1. In a cash account you can reinvest sale proceeds that day; selling the new stock before settlement may get you a 90-day freeze.

2026.10.11 9 min read →
Trading basics
US STOCKS · ACCOUNT PROTECTION

What Does SIPC Protect If Your US Broker Fails?

If a SIPC-member broker fails, SIPC works to restore missing securities and cash, not market losses. The limit is $500,000, including $250,000 for cash.

2026.10.09 9 min read →
Trading basics
US STOCKS · DAY TRADING RULES

Is the PDT Rule Gone? Day Trading Limits That Remain

FINRA replaced the PDT rule and its $25,000 minimum with an intraday margin standard on June 4, 2026. Brokers may keep the old rule until October 20, 2027.

2026.10.07 8 min read →
US stocks
US STOCKS · SELL-SIDE FEES

SEC Fee Is $20.60 per Million, TAF Paused for Q4 2026

Selling $10,000 of US stock carries a $0.206 SEC fee at $20.60 per million. TAF is $0.000195 per share, capped at $9.79, and paused for Oct–Dec 2026 trades.

2026.10.03 7 min read →
US stocks
US STOCKS · DIVIDEND DATES

Ex-Dividend or Record Date, Which Day Must You Buy By?

Under T+1 a US stock's ex-dividend date is usually the record date, so buy by the trading day before it. Record date Monday, March 16: buy by Friday, March 13.

2026.10.01 10 min read →
US stocks
US STOCKS · SHARE CLASSES

GOOG vs GOOGL: The Difference, and What GOOGLx Tracks

GOOGL is Alphabet Class A with one vote per share; GOOG is Class C with no vote. Dividends match. Kraken's GOOGLx and Ondo's GOOGLon both track Class A.

2026.09.27 9 min read →
US stocks
US STOCKS · MARKET HALTS

Do US Stocks Have Price Limits? Circuit Breakers, LULD

No daily price limit in US stocks: a 7%, 13% or 20% S&P 500 drop halts the market, and a stock stuck at its LULD band for 15 seconds pauses for 5 minutes.

2026.09.26 10 min read →
Trading basics
ORDERS · LIMIT

Why a Limit Order Fills Immediately and What It Costs

A buy limit above the market, or a sell limit below it, fills on the spot.

2026.09.25 8 min read →
Trading basics
MARGIN · MODES

Cross or Isolated Margin? What Beginners Should Pick

Isolated margin caps the loss at one position’s margin; cross margin draws on your whole balance.

2026.09.25 8 min read →
Trading basics
FUTURES · LIQUIDATION

Can You Owe Money After a Futures Liquidation?

On Binance USDⓈ-M futures, losses past your margin usually go to the insurance fund, not you.

2026.09.25 8 min read →
Trading basics
FUTURES · CONTRACT TYPES

Perpetual vs Quarterly Futures: Which One to Trade

Perpetual futures never expire but involve funding payments; quarterly futures settle on a set date and have no funding payments.

2026.09.25 8 min read →
Tokenized US stocks
PROOF OF RESERVES · PUBLIC API

Are xStocks Legit? Where to Check the Shares Behind Them

The 1:1 claim is in writing, and the reserves endpoint opens without a login. Swap in the token you hold and go through the fields one at a time.

2026.09.24 9 min read →
Tokenized US stocks
TOKEN CHECK · CONTRACT VERIFICATION

bStocks contract address: how to verify it on BSC

A receiving address and a token contract are not interchangeable. Match the ticker, the BSC network and the full contract, then read the wallet transfer limits; two public screenshots included.

2026.09.19 9 min read →
Tokenized US stocks
ADR · DEPOSITARY RECEIPTS

What Is an ADR? Buying TSMC or Alibaba on Binance Adds a Depositary Fee

Ordinary shares and depositary receipts sit in the same list. Read the ratio in the name first, then work out the depositary fee that can show up without any order.

2026.09.17 8 min read →
Tokenized US stocks
EXPIRY DAY · STOCK OPTIONS

Binance US Stock Options Near Expiry: Close or Exercise?

Expiry won't bail you out. Read the state on your screen first, then the cutoff for closing, exercising and doing nothing; with the exercise time windows and a UTC conversion.

2026.09.15 10 min read →
Three routes to US stock exposure compared: a licensed broker, a regulated fund, and a tokenized share
US STOCKS · ROUTES COMPARED

How Can Mainland Chinese Investors Buy US Stocks Now? The Routes Left After May 22

Three routes to the same exposure, compared across six dimensions — and the three situations where people pick the wrong one.

2026.08.30 14 min read →
Three on-chain routes to tokenized US stock exposure, shown side by side with the wallet and the issuer behind each
US STOCKS · ON-CHAIN ROUTES

What Tokenized US Stocks Are There? bStocks, xStocks, Ondo

Three on-chain ways to hold tokenized US stocks, and what differs underneath — who issues the token, who holds the share, and what you can actually claim.

2026.09.01 13 min read →
A tokenized share shown as a claim that passes through an issuer and a custodian before it reaches the underlying stock
TOKENIZED STOCKS · ISSUER RISK

Tokenized stock issuer risk: what if the issuer fails

A tokenized share is a claim on whoever issued it. What bankruptcy remoteness actually covers, the three checks worth running first, and why SIPC does not apply here.

2026.09.02 9 min read →
What it costs at minimum to get into a tokenized stock: a fraction of a share set against a whole one
US STOCKS · MINIMUM SIZE

Tokenized US Stocks: What's the Minimum? Fractional Rules Differ by Platform

You do not have to save up for a whole share. Fractional orders usually start around a dollar or two, and the exact floor is whatever the order page shows that day.

2026.07.26 13 min read →
US stock price curve with perpetual funding rate and liquidation line marked, illustrating the carry cost of a derivative position
US STOCKS · DERIVATIVES

How US Stock Perpetual Futures Work: Funding, Liquidation and Weekend Rules

A perp is a derivative, not tokenized spot. Funding settles every 8 hours and caps at ±2.00%, and a closed US market is no holiday for liquidation. How to price the carry, and who should stay out.

2026.07.26 10 min read →
S&P 500 and Nasdaq 100 index curves splitting into three differently coloured routes, leading to Binance Wallet on-chain and to the spot market
US STOCKS · INDEX

Buying the S&P 500 and Nasdaq With USDT: Three Tokenized ETF Types Compared

SPYX, QQQon and the bStocks index products read alike but sit on different issuers and buy routes. The tokenized 3x version stacks volatility decay on top of token structure risk.

2026.07.26 11 min read →
Real share price and token price lines tangled together during market hours, separating into a red gap after the close
US STOCKS · PRICE READ

Why Tokenized Stock Prices Differ From the Real Share: Reading Premiums and Discounts

Arbitrage pulls the price back to the real share while markets are open; once they close, there's no anchor and thin books move more. Where premium and discount come from, and what to check before you order.

2026.07.22 9 min read →
Two exit paths for a tokenized stock: secondary-market sale vs. issuer redemption
US STOCKS · WALKTHROUGH

Sold Your US Stocks on Binance? How to Get the Money Out

bStocks convert or sell on spot, xStocks sell on the secondary market or redeem through Backed — fees, thresholds, and the exit path that actually applies to a retail holder.

2026.07.18 9 min read →
Two branching paths for tokenized US stocks in one Binance account: bStocks and xStocks
US STOCKS · COMPARISON

bStocks vs xStocks: Issuer, Chain and Dividends Compared

Buy bStocks straight from spot, or buy xStocks through your Web3 wallet — same Binance account, two different paths to tokenized US stocks. Here's how they differ.

2026.07.17 9 min read →
Illustration of what happens to a tokenized stock when the underlying is halted or delisted
US STOCKS · CORPORATE ACTION

Tokenized Stock Delisted? What Holders Get Back After a Halt or Delisting

A halt, a delisting or a go-private buyout — what happens to your xStocks-style token? The issuer usually unwinds the shares and pays out in stablecoin.

2026.07.09 12 min read →
Five-step flow for buying xStocks tokenized US stocks in Binance Wallet
US STOCKS · WALKTHROUGH

How to Buy xStocks in Binance Wallet: From Funding to Your First Order

The Binance app itself does not list tokenized US stocks — xStocks live in Binance Wallet, on Solana. Five steps from funding to your first order.

2026.08.24 9 min read →
Tokenized stock 7×24 trading hours: the token keeps trading on-chain while the US market is closed
US STOCKS · TRADING HOURS

Binance US Stock Trading Hours: Can You Buy at Weekends or After Hours?

xStocks run 7×24, so weekends and US holidays stay open for orders. But thin order books, wider spreads and price de-pegging are the half nobody mentions.

2026.07.07 9 min read →
gan111 default cover: an orange 肝 character over dark mountain silhouettes
US STOCKS · EXPLAINER

Do Tokenized Stocks Pay Dividends? How Reinvestment and Splits Work

Roughly 30% US withholding comes off, the rest is reinvested and the balance grows — no cash is paid out. Splits run through the multiplier on their own, and voting rights are not included.

2026.07.02 6 min read →
Ethereum
BASICS · Concept

Ethereum vs Bitcoin: Three Fundamental Differences

Smart contracts, staking, Layer 2 — pulled apart one at a time. Plus the moments that shaped it: the 2017 ICO mania, the 2022 Merge, the 2024 spot-ETF approval.

2026.05.22 28 min read →
Stablecoins
BASICS · Concept

What Is USDT? How Stablecoins Stay at $1

USDT, USDC, DAI, FDUSD side by side. How LUNA's UST died inside a week. What really happened during the March 2023 USDC depeg when SVB blew up.

2026.05.22 26 min read →
DeFi
DEFI · Mechanics

What is DeFi · Lending, DEX, LP, Rug Pulls

Lending, DEXs, liquidity mining. A look back at the 2020 DeFi summer and the 2022 LUNA/UST collapse, plus the three flavours of rug pull and how each one ends.

2026.05.22 32 min read →
Crypto wallet
TOOL · How-to

How to Store a Seed Phrase: Where to Write It and How to Back It Up

Self-custody vs. exchange custody. First-time MetaMask setup. Why your seed phrase should never live in a screenshot or cloud note. How "approve" phishing works and how to avoid it.

2026.05.22 24 min read →
Candlestick
TRADING · Charts

How to read candlestick charts · 5 patterns

Four numbers per candle. Five patterns that matter — engulfing, morning star, evening star, hammer, inverted hammer. We will not pile 200 indicators on top of price.

2026.05.22 22 min read →
Leverage
RISK · Mechanics

What is Leverage? Why most new traders die here

5x leverage liquidates on a 20% move. The math is brutal. I walk you through 5·19 2021, the LUNA collapse, and the August 2024 yen-carry unwind so you can feel the leverage cascade.

2026.05.22 28 min read →
Bull bear judgment
JUDGMENT · Cycle

How to Call Bull vs. Bear · My Dumb Method

On-chain data, funding rates, media tone, the Fed — five signals, plus an old-school contrarian one: when people who never talk about investing start asking how to buy, be careful.

2026.05.22 30 min read →
BTC halving recap
BTC · Data

Bitcoin Halving Timeline: How Price Moved Around All 4 Halvings

2012 / 2016 / 2020 / 2024 — on-chain data, miner behavior, retail composition, side by side, and what it says about 2028.

2026.05.27 26 min read →
Risk-reward ratio
TRADING · Method

How to Calculate Risk-Reward Ratio: What's a Good One and How It Pairs With Win Rate

Is "no RR, no trade" a real rule or trader cosplay? One simple formula, then three ways new traders compute it wrong every time.

2026.05.24 14 min read →
How to register on Binance
GUIDE · Account

How to Sign Up for Binance: Phone Number, ID Verification and Your First Deposit

The sign-up takes two minutes; what trips beginners up is everything after. Registration, 2FA security setup, KYC, and your first deposit — in the order a real beginner goes through them, region limits stated honestly.

2026.06.13 14 min read →

Tools

CHART · candles LIVE

BTC full-history chart + halving countdown

2010 to today. Daily / weekly / monthly / yearly. All four halvings marked. Log axis, scroll-wheel zoom. Next-halving countdown ticks down live. Data pulled directly from the CryptoCompare API — nothing hard-coded.

Live API · no static data →
LEVEL · S/R LIVE

BTC support / resistance — live

Six timeframes (15m / 1H / 4H / D / W / M) clustering recent swing highs and lows into key zones. Refreshes every 5 minutes. Runs entirely in your browser — no account, no tracking pixel on the algo.

Decision aid · not a call →
CYCLE · BTC.D LIVE

BTC dominance (BTC.D) — live

BTC market cap as a share of total crypto. The single most useful "where in the cycle are we" indicator. Four threshold zones (super-strong / early bull / alt rotation / alt mania) annotated against past peaks.

1-min refresh · CoinGecko →

Exchanges

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