HomeNewsGet More Bitcoin for Less: Binance.US Presents $3,000 Discount on BTC

Get More Bitcoin for Less: Binance.US Presents $3,000 Discount on BTC

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  • Bitcoin is currently being sold at a $3,000 discount on Binance.US compared to global spot prices.
  • The discount is only applicable when trading Bitcoin against fiat USD on the exchange.

Bitcoin, the leading cryptocurrency, is currently available for purchase at a remarkable discount on Binance.US. Traders can now acquire Bitcoin for nearly $3,000 less than the global spot prices, offering an exceptional opportunity to maximize their investment. However, there is a crucial detail to consider before diving in.

Recent observations made by crypto enthusiasts revealed a widening price discrepancy between cryptocurrencies listed on Binance.US and their global spot prices. This intriguing phenomenon, often referred to as a “depeg” of cryptocurrencies, has sparked considerable interest within the crypto community.

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At the time of writing, Bitcoin is trading at $27,536 on Binance.US, while global spot prices for Bitcoin against the U.S. dollar stand at $30,106. This amounts to a substantial discount of approximately 8.5%. Additionally, other cryptocurrencies, such as Ethereum, are also available at a discounted rate on Binance.US. Ethereum, for instance, is trading approximately $200 cheaper, priced at $1,695.

It’s worth noting that even stablecoins, such as Tether (USDT), are trading below their pegs with Tether listed at $0.915 on Binance.US. These lower prices may appear enticing for arbitrage opportunities, but there are significant limitations that restrict most investors from taking advantage of them.

The discounted rates are exclusively applicable when trading cryptocurrencies against fiat USD on the Binance.US exchange. Unfortunately, Binance.US users have been unable to deposit new USD into their accounts since June 9 due to a suspension. Consequently, only those individuals who had USD funds in their accounts before the suspensions can benefit from the discounted prices.

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Furthermore, concerns have emerged that Binance.US may soon halt USD withdrawals, prompting some users to sell their cryptocurrencies below market value to exit their positions in USD. As per an email circulated on Twitter, Binance.US has announced that July 20 will be the last day for USD withdrawals.

A similar situation unfolded in late May at the Australian branch of Binance, where the company’s third-party payments provider discontinued fiat on- and off-ramps. Consequently, the price of Bitcoin on Binance experienced a 20% decline compared to global spot prices when traded against the Australian dollar.

In summary, Binance.US is currently offering a unique opportunity to acquire Bitcoin at a significant discount of $3,000 compared to global spot prices. However, it’s important to consider the limitations surrounding this discount, as it is only applicable when trading against fiat USD on the exchange. With the temporary suspension of USD deposits and potential halting of USD withdrawals, only users with existing USD funds can avail themselves of this advantageous situation.

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