Binance US, the place to BTC. It will have escaped almost no one’s notice that the Binance exchange has been undergoing the wrath of the US regulator. In fact, US users are fleeing the platform in turmoil, Binance.US, for fear of seeing their funds frozen. This wind of panic is creating unhoped-for opportunities for those lucky enough to take advantage of them. That’s what we’ll be looking at in this article. Here’s how it works.
Sales on Binance.US
It’s a well-known fact that July heralds the start of the sales season, as it does every year. And this year, cryptos have no intention of being left out in the cold. They’re in too. But only in the US and under certain conditions. We bring you all the details of the (good?) deal.
Back in June, Binance.US users got a bit of a scare when they learned that the sudden blocking of deposits and withdrawals of their funds on the American branch of Binance. Shortly afterwards, withdrawals became possible again, much to their relief. All this was due to the charges, 13 in all, that fell on the CZ exchange, which was machine-gunned by the SEC (Securities Exchange Commission).
A wave of panic swept through the exchange, gradually deserted by its users. But as is often the case in the markets, one man’s fear is another man’s gain. In fact, at the beginning of July, some Internet users on Twitter noticed price discrepancies between those posted on the Binance.US platform, dedicated to Americans, and those on the market. On this Monday, we can all see the price of BTC flirting with $30,000 on our favorite application. On Binance.US, on the other hand, the price is almost $3,000 lower. And it’s not the only cryptocurrency concerned.
Indeed, the price of bitcoin hovers around 27,500 dollars currently on the American platform. We are also seeing a discount on theEthereum (ETH) and also a depeg on Tether’s stablecoin (USDT). But can we really profit from it?
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An opportunity on BTC for a lucky few?
A discount of almost 10% offyou’d have to be crazy not to take advantage of it. So it’s hardly surprising that a depeg of this magnitude should persist, on the queen of cryptocurrencies no less. Unless… the conditions for taking advantage of the opportunity are particularly complex. And that’s what we’re going to find out.
The catch is that these discounted cryptos can only be bought against fiat currency, hard and soft dollars. Only via the BTC-USD or ETH-USD pair. The problem? Remember, since the beginning of June, all dollar deposits on Binance.US have been halted. following SEC 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 9 and not to have run away when the SEC sanctions hit the exchange. Quite a combination of parameters with one consequence: few investors, in truth, are going to be able to take advantage of these BTC sales.
USD withdrawals from Binance.US should be halted by July 20. As a result, investors have been flocking to USD pairs to withdraw their funds, even if it means selling below market prices. This has led to the price discrepancies we’re seeing today. In the meantime, rather than trading, perhaps the best idea is to take advantage of the calm of this bear market to take an in-depth look at the subject of Bitcoin. After all, the math is complicated, anyone can become a BTC teacher.
If at the end of this article you’re still hesitating, there’s really only one choice. Do nothing and let someone else win… or register now with Binance THE leading crypto platform, for your chance to win the game and add 1 bitcoin to your portfolio. What do you decide?