Binance US, the ideal place for BTC. It hasn’t escaped anyone’s notice, or almost anyone’s, that the Binance exchange has been facing the wrath of the US regulator for the past few months. As a result, US users are fleeing the platform in turmoil, Binance.US, for fear of having their funds frozen. A wave of panic that creates unexpected opportunities for some lucky ones who are able to take advantage of them. That’s what we’re going to see in this article. Analysis.
It’s sale time on Binance.US
It’s known that July announces the start of the sales season every year. And this year, cryptocurrencies are not going to be left out. They too are joining in. But only in the US and under certain conditions. We’ll give you all the details of the (good?) deal.
In June, Binance.US users were shocked to learn about the sudden blocking of deposits and withdrawals of their funds on the US branch of Binance. Shortly after, withdrawals became possible again, much to their relief. All of this is due to the 13 accusations that have been brought against CZ’s exchange, which has been under fire from the SEC (Securities and Exchange Commission).
A wave of panic has swept through the exchange, gradually deserted by its users. But the fear of some, as often happens in the markets, is a good deal for others. In fact, at the beginning of July, some Twitter users noticed price discrepancies between those displayed on the Binance.US platform, dedicated to Americans, and those on the market. Today, on our favorite app, we can all see the price of BTC flirting with $30,000. On Binance.US, however, the price is nearly $3,000 lower. And it’s not the only cryptocurrency affected.
Indeed, the price of bitcoin is currently around $27,500 on the American platform. We also observe a discount on Ethereum (EPF) and also a depeg on Tether’s stablecoin (USDT). But can we really take advantage of it?
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An opportunity on BTC for a lucky few?
A discount of almost 10%, you would be crazy not to take advantage of it. It is therefore very surprising that such a significant depeg persists, especially on the queen of cryptocurrencies. Unless… the conditions for taking advantage of the opportunity are particularly complex. And that’s what we’re going to see.
The catch is that these discounted cryptocurrencies can only be purchased with fiat currency, actual dollars. Only through the BTC-USD or ETH-USD pair. The problem? Remember, since early June, all deposits in dollars on Binance.US have been stopped following the SEC’s accusations. Only withdrawals in USD are possible.
Therefore, to take advantage of this opportunity, you had to have dollars in your Binance.US account before June 9th and not have fled when the SEC sanctions hit the exchange. A combination of parameters that has a consequence: very few investors, in truth, will be able to take advantage of these discounts on BTC.
Withdrawals in USD from Binance.US are expected to be stopped by July 20th. Investors have therefore flocked to USD pairs to withdraw their funds, even if it means selling below market prices. This is what has caused the price discrepancies we are observing today. In the meantime, rather than trading, the best idea may be to take advantage of the calm of this bear market to delve deep into the subject of Bitcoin. Because if the math is complicated, anyone can become a BTC professor.
If you’re still hesitating at the end of this article, know that there is actually only one possible choice. Do nothing and let someone else win… or sign up now on Binance, THE reference crypto platform, to try and win the game and add 1 bitcoin to your portfolio. What do you decide? (commercial link)
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