What is TESLA token | What is MODEL3 token | How to Buy TESLA token on Binance
In this article, we’ll discuss information about the MODEL3 Tesla project and TESLA token
Earlier this year, the EV manufacturing company—led by CEO Elon Musk—announced a whopping $1.5 billion investment into Bitcoin. In March, the company began accepting Bitcoin as a form of payment for its cars. Tesla intends to hold any Bitcoin received from purchases of its products, rather than converting it into fiat currency.
CEO Elon Musk has become one of the most prominent advocates for cryptocurrency; in February of this year, Musk said that investors “might as well have crypto” if they were considering investing in gold. And soon after he updated his Twitter bio to Bitcoin, the cryptocurrency’s price spiked by 20%.
Elon Musk on Gold: “You Might as Well Have Crypto”
Bullion dealer Peter Schiff offered his two cents when Musk said crypto was “almost as bs as fiat money.”
It’s been a huge week for Bitcoin. The digital currency secured over a trillion dollars in market capitalization this week, making up the bulk of the crypto market’s total market capitalization of $1.7 trillion.
The currency’s recent success has also put the gold-Bitcoin ratio at an all-time low, meaning that the price of gold relative to Bitcoin is the lowest it’s been since Bitcoin came into existence. This is an encouraging sign for those who have long argued that Bitcoin may be a superior store of value to gold.
Bitcoin’s high prices caught the ire of a gold bug—and the defense of a newly-formed Bitcoin bull.
Bullion dealers are on the defensive
Schiff Gold chairman and precious metals dealer Peter Schiff jumped on a tweet published yesterday by Elon Musk, in which the Tesla CEO echoed verbatim a tweet he wrote before Christmas, saying: “Bitcoin is almost as bs as fiat money.”
Musk’s tweets to his 47.4 million followers influence crypto prices dramatically, and he often engages with others in dialogue over crypto. In fact, a tweet exchange with MicroStrategy CEO Michael Saylor may have inclined the Tesla man towards Bitcoin in the first place.
Schiff managed to lure Musk into a conversation about comparing gold with Bitcoin as a store of value. Schiff replied to Musk that, “I agree, I just think Bitcoin, which is digital fiat, is even more BS than the paper fiat issued by central banks. #Gold is not BS. It’s real money and better than both!”
The Tesla CEO replied to Schiff by saying “An email saying you have gold is not the same as gold. You might as well have crypto”:
Musk reasoned that money in both instances is “just data that allows us to avoid the inconvenience of barter.” He went on to say: “That data, like all data, is subject to latency & error. The system will evolve to that which minimizes both.”
Musk is implying that technologies such as Bitcoin, beefed up by cryptographic security, could provide more error-free ways of recording value than the systems we currently have in place—perhaps even better than an email from Schiff Gold saying that you have gold.
Musk and Bitcoin: an ambiguous story
The world’s richest man has stood as a powerful symbol for the growing institutional adoption of Bitcoin since Tesla disclosed last week that it had converted $1.5 billion of its balance sheet into Bitcoin.
Musk has toned down some of his bullishness about crypto. On Friday he tweeted: “Tesla’s action is not directly reflective of my opinion. Having some Bitcoin, which is simply a less dumb form of liquidity than cash, is adventurous enough for an S&P500 company.”
Musk then tweeted verbatim the same words he tweeted before Christmas last year, that “Bitcoin is almost as bs as fiat money. The key word is almost.”
Musk hasn’t always been subtle about his crypto bullishness. At the end of January, he changed his Twitter bio to say ‘Bitcoin’. He has also shared bullish memes about Dogecoin with KISS bassist Gene Simmons and rapper Snoop Dogg.
Musk’s current Twitter display picture of an anime girl with laser eyes is another not-so-subtle nod to Bitcoin. The laser eyes are a form of social media signaling among Bitcoin holders. Coinshare executive Meltem Demirors and MicroStrategy CEO Michael Saylor are currently sporting them on Twitter, among others.
Though Musk’s been trying to be more measured in his recent thoughts about crypto, his bullish vibes are coming through loud and clear.
Binance Allows Users to Trade Tokenized Stock Tokens Starting With Tesla (TSLA)
Tesla’s stock (TSLA) will be the first to trade as a token on Binance’s exchange so that users can buy fractional shares using cryptocurrency.
Over the last few months, Tesla has made some move in the rapidly growing cryptocurrency space.
The automaker invested $1.5 billion in Bitcoin in February and started accepting Bitcoin as payment for its electric cars last month.
The move has helped boost the price of Bitcoin and put an even bigger spotlight on cryptocurrency.
Now, Tesla is getting some love back from the crypto community, which now has a new way to invest in the electric automaker.
Binance, one of the world largest’s cryptocurrency exchanges, announced today the launch of its Zero-Commission, Tradable Stock Tokens — starting with the first token being linked to Tesla’s stock.
The company described this new stock token product:
“Binance Stock Tokens are zero-commission digital tokens fully backed by a depository portfolio of underlying securities that represents the outstanding tokens. Holders of stock tokens qualify for economic returns on the underlying shares, including potential dividends.”
The price of the TSLA token is going to be linked to BUSD, which is a cryptocurrency attached to the value of the US dollar:
_The first Binance Stock Token to be listed is Tesla Inc. (TSLA). Trading for the TSLA/BUSD pair is scheduled to open at 2021-04-12 1:35 PM (UTC). Users will be able to trade fractional Tesla stock on the https://www.binance.com/en/stock-token
What are Binance Stock Tokens?
Binance Stock Tokens are zero-commission digital tokens fully backed by a depository portfolio of underlying securities that represents the outstanding tokens. Holders of stock tokens qualify for economic returns on the underlying shares, including potential dividends.
Binance will continue to respond to market demand by listing more stock tokens and features. Trading of stock tokens will follow traditional exchange hours and is not available for residents in Mainland China, Turkey, and other restricted jurisdictions. Interested traders will be required to pass Know-Your-Customer and other relevant compliance measures.
For more information on Stock Tokens, please refer to the guide here.
Cryptocurrency exchange Binance is allowing its users to buy fractions of companies’ shares with a new tokenized stock trading service, starting with Tesla.
- The crypto exchange announced Monday the launch of Binance Stock Tokens, zero-commission digital tokens that qualify holders for returns including dividends.
- As of 1:35 p.m. UTC (9:35 a.m. ET) April 12, users will be able to buy fractions of actual Tesla shares, which trade at $677 a share at the time of writing.
- Users will be able to purchase as little as one-hundredth of a Tesla share, with prices settled in Binance USD (BUSD).
- The exchange’s native crypto Binance Coin (BNB) has surged more than 25% in the last 24 hours, reaching an all-time high of $637.44. It is priced at $590.51 at press time. It’s not immediately clear what is driving the price of the coin.
- It’s not the first tokenized stock play in crypto land: Terra Labs’ Mirror Protocol went live in December.
- But where Mirror uses synthetic stocks (or tokenized representations of actual equities), the Binance product is “backed by a depository portfolio of underlying securities” managed by an investment firm in Germany.
The TSLA/BUSD token has already started trading on the platform today.
One of the advantages of the new product is that investors can acquire fractional shares of Tesla’s stock token.
Tesla’s stock has increased so much in recent years that it has become harder for smaller investors to buy the stock.
The company did a 5 for 1 stock split last year to make its stock cheaper, but it has since surged again, and it is now trading for around $700 per share.
How and Where to Buy TESLA token?
TESLA has been listed on Binance exchange, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy TESLA by first buying BUSD. In this guide article we will walk you through in detail the steps to buy TESLA token
You will have to first buy BUSD from Binance Exchange
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services. Binance exploded onto the scene in the mania of 2017 and has since gone on to become the top crypto exchange in the world.
Once you finished the KYC process. You will be asked to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer, and buy one of the major cryptocurrencies, usually either Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance (BNB)…
Step by Step Guide : What is Binance | How to Create an account on Binance (Updated 2021)
Next step, go to https://www.binance.com/en/stock-token and Buy Tesla token!
Trading for the TSLA/BUSD pair is scheduled to open at 2021-04-12 1:35 PM (UTC)
Source : https://www.youtube.com/watch?v=yjWou2HXt64
Find more information TESLA token
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🔺DISCLAIMER: The Information in the post isn’t financial advice, is intended FOR GENERAL INFORMATION PURPOSES ONLY. Trading Cryptocurrency is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money.
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⭐ ⭐ ⭐ What You Should Know Before Investing in Cryptocurrency - For Beginner ⭐ ⭐ ⭐
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