July 11

Binance.us Offers Cryptocurrencies such as BTC at a Discounted Price


Bitcoin is selling for a discounted price of approx. $3000, giving a great deal as compared to global spot prices. On Binance.us, the selling price of BTC is hovering around $27,000 which is around 8.5% discount from the global price.

BTC/USD charts on Binance.US shows a current price of $27,536. Source: Binance.US

On 9th July, cryptocurrency enthusiasts started noticing a significant price widening between cryptocurrencies listed on the United States crypto exchange and their global spot prices. The difference in price gap have many referring it as a ” depeg ” of cryptocurrencies.

Other cryptocurrencies such as Ethereum ( ETH ) are selling at a cheaper price of $1695 on Binance.us at the time of writing which is around $200 cheaper than global market. Some stablecoins, such as Tether, were also trading below their pegs with Tether at $0.915 on the exchange.

While these crypto discounts may appear enticing for an arbitrage trader, the reality is majority of the investors will not be able to take advantage. The reason being that the discounts are only applicable when a cryptocurrency is traded against fiat USD on Binance Us exchange.

The problem being that since June 9 user have not been able to deposit USD in Binance.us exchange, when it was suspended. Indicating that users who had USD already sitting in their account before the suspension will be able to take advantage of the discounted prices.

According to an email from Binance.us to the users indicates that July 20 will be the last day for USD withdrawals, resulting in users their cryptocurrencies below the market value in order to exit their position in USD.

In late May the price of Bitcoin ( BTC ) fell 20% on Binance compared to global spot prices when the company’s third party payment provider suspended fiat on and off ramps.


You may also like

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Get in touch

0 of 350