According to published data, Bitcoin is currently trading nearly $3,000 lower on the American branch of the Binance exchange (Binance.US) compared to global prices, creating an arbitrage opportunity for some investors.
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However, it should be noted that this $3,000 price difference is when Bitcoin is traded against the dollar, and Binance.US users have been unable to deposit dollars into the exchange since June 9. This actually means that cheap cryptocurrencies on this exchange can only be purchased with dollars that are already in the account.
Concerns that Binance.US will soon stop accepting dollar withdrawals have caused some users to trade their cryptocurrencies below market value.
According to an email sent by Binance.US to customers, the last time to withdraw dollars will be July 20. This is not the first time such a situation has occurred at Binance. As reported in the previous news of Ramzarz News, at the end of May, a similar situation occurred in the Australian branch of this exchange, when the deposit of Australian dollars was blocked for users. At the same time, the price of Bitcoin on Binance Australia fell 20% compared to global spot prices when trading against the Australian dollar. While the cheaper prices of a digital currency may seem tempting to some investors, the reality is that most people will not be able to take advantage of it due to the suspension of dollar deposits and the impending halt of withdrawals.
Cointelegraph
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