Bitcoin Trading at 9% Discount on Binance.US, but Not Everyone Can Arbitrage

Bitcoin Trading at 9% Discount on Binance.US, but Not Everyone Can Arbitrage

Bitcoin is selling for a nearly $3,000 discount on Binance.US, providing a significantly better rate than global spot prices.

Bitcoin is currently trading at $27,819 on the exchange against the U.S. dollar, which is around an 9% discount from global spot USD prices of $30,106 at the time of writing.

Other cryptocurrencies are also trading at a discount in U.S. dollar terms. Ethereum prices are around $100 cheaper on Binance.US, trading for $1,720 at the time of writing.

However, while the crypto discounts look enticing for an arbitrager, the reality is that most investors will not be able to take advantage of them.

This is because the discount only applies when a cryptocurrency is traded against fiat USD on the crypto exchange.

The problem is, Binance.US users have not been able to deposit new USD into the platform since June 9, when it was suspended. Effectively, this means that the discounted cryptocurrencies can only be bought with any USD already sitting on the account before the suspensions.

 

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Source

Binance

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