Index Investing News
Sunday, May 25, 2025
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

Traders Act Fast As Binance Australia Unveils Bitcoin Discount For Limited Period

by Index Investing News
May 30, 2023
in Cryptocurrency
Reading Time: 3 mins read
A A
0
Home Cryptocurrency
Share on FacebookShare on Twitter


In an intriguing development for crypto traders, Binance Australia has introduced an exclusive Bitcoin discount, offering a unique opportunity for savvy investors. The platform’s recent announcement comes in the midst of a countdown to a significant payment deadline, adding a sense of urgency to the offer.

While Bitcoin (BTC) currently trades above $27,000 on several exchanges, it traded at a price of AUD34,863 on (USD22,670) Binance Australia lower than its current price on exchanges. The limited period that comes with the discount has made some traders act fast so as to take advantage of the reduced price.

Bitcoin Trading At A Discount

Recent market data has revealed an intriguing trend on Binance Australia, with Bitcoin and other digital tokens trading at a discount compared to rival exchanges within the country.

CryptoCompare data shows that Bitcoin traded at A$34,863 ($22,670) on Binance Australia, significantly lower than the average price on platforms like Independent Reserve and CoinJar. Notably, discounts of around 20% were also observed for popular tokens such as Ethereum (ETH) and Solana (SOL).

The discount on Binance Australia is closely linked to impending changes in the platform’s payment withdrawal options. Starting from 5 p.m. on June 1, users will no longer be able to withdraw Australian dollars to their bank accounts using the popular PayID service.

This follows the platform’s earlier loss of access to certain Aussie dollar deposit services, creating a series of challenges for cryptocurrency enthusiasts. 

Industry experts have weighed in on the situation, shedding light on the motivations behind the discounted Bitcoin prices. Richard Galvin, the co-founder of fund manager Digital Asset Capital Management, explains that Australian clients are selling Bitcoin at a discount to ensure they can withdraw their Australian dollars before the payment deadline. This urgency has created a unique opportunity for investors looking to acquire Bitcoin at a reduced price.

Furthermore, to ease the withdrawal process for users, Binance Australia has devised a solution. Following the payment deadline, Australian dollar balances can be converted into the Tether stablecoin, facilitating both withdrawals and trading activities.

The platform is actively seeking alternative providers to restore AUD deposit and withdrawal services, underscoring its commitment to offering a seamless user experience.

BTC Latest Price Action

Meanwhile, Bitcoin hasn’t shown any significant move in the past week. Instead, the largest crypto asset by market capitalization has recorded sluggish movement up by only 1.7% in the past 7 days. Over the past 24 hours, BTC has seen a 0.1% loss.

Bitcoin (BTC)’s price moving sideways on the 4-hour chart. Source: BTC/USD on TradingView.com

At the time of writing, Bitcoin currently trades at $27,849 after trading slightly above $28,000 on Sunday. Bitcoin’s trading volume has plunged a bit from $14 billion earlier last week to $12 billion in the past 24 hours indicating less trading activity.

However, the asset’s market capitalization has seen a more than $10 billion gain in the past 7 days. BTC’s market cap has surged from $528 billion last Tuesday to $539 billion as of today.

Featured image from iStock, Chart from TradingView



Source link

Tags: actAustraliaBinancebitcoinDiscountFastlimitedperiodTradersunveils
ShareTweetShareShare
Previous Post

Erik ten Hag sends warning to Harry Maguire over Man Utd future

Next Post

InPlay Oil: Returns To Shareholders Are Now In Play (TSX:IPO:CA)

Related Posts

Bitcoin Nears Finish Of Submit-Halving Consolidation Section – Cycle Peak In Sight?

Bitcoin Nears Finish Of Submit-Halving Consolidation Section – Cycle Peak In Sight?

by Index Investing News
May 25, 2025
0

Trusted Editorial content material, reviewed by main business consultants and seasoned editors. Advert Disclosure It’s been simply over a yr...

Former IMF chief economist believes crypto is a rising menace to the U.S. Greenback’s dominance

Former IMF chief economist believes crypto is a rising menace to the U.S. Greenback’s dominance

by Index Investing News
May 25, 2025
0

American economist Kenneth Rogoff believes that the rise of crypto poses a menace to the hegemony of the U.S. greenback.Rogoff...

Ripple Executives Be a part of Satoshi Nakamoto

Ripple Executives Be a part of Satoshi Nakamoto

by Index Investing News
May 25, 2025
0

Professional-XRP lawyer John Deaton has tapped two Ripple executives to hitch an unique listing of crypto all-time greats. The XRP...

Market Skilled Tasks ‘Undervalued’ Litecoin To Soar At Least 1,000% —  Right here’s How

Market Skilled Tasks ‘Undervalued’ Litecoin To Soar At Least 1,000% —  Right here’s How

by Index Investing News
May 24, 2025
0

Opeyemi is a proficient author and fanatic within the thrilling and distinctive cryptocurrency realm. Whereas the digital asset business was...

Crypto entrepreneur arrested for kidnapping and torturing his ex-business associate with chainsaw and cocaine

Crypto entrepreneur arrested for kidnapping and torturing his ex-business associate with chainsaw and cocaine

by Index Investing News
May 25, 2025
0

Key Takeaways A Kentucky crypto investor was arrested for allegedly kidnapping and torturing an Italian vacationer to extract crypto passwords....

Next Post
InPlay Oil: Returns To Shareholders Are Now In Play (TSX:IPO:CA)

InPlay Oil: Returns To Shareholders Are Now In Play (TSX:IPO:CA)

Transcript: John Hope Bryant – The Big Picture

Transcript: John Hope Bryant - The Big Picture

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

US SEC sues Elon Musk over late disclosure of Twitter stake By Reuters

US SEC sues Elon Musk over late disclosure of Twitter stake By Reuters

January 14, 2025
Mayor Adams’ wake-up on migrant flights

Mayor Adams’ wake-up on migrant flights

July 21, 2022
South Korea seeks 3-year grace period on U.S. EV tax incentive law By Reuters

South Korea seeks 3-year grace period on U.S. EV tax incentive law By Reuters

November 4, 2022
What to expect when Starbucks (SBUX) reports Q2 earnings next week

What to expect when Starbucks (SBUX) reports Q2 earnings next week

April 29, 2023
Nottingham Forest affirm signings of Emmanuel Dennis and Cheikhou Kouyate

Nottingham Forest affirm signings of Emmanuel Dennis and Cheikhou Kouyate

August 14, 2022
Phoenix Investors’ Frank Crivello on the Inflation Reduction Act – Commercial Property Executive

Phoenix Investors’ Frank Crivello on the Inflation Reduction Act – Commercial Property Executive

October 26, 2022
‘We are committed to the dividend’

‘We are committed to the dividend’

January 27, 2023
Super League: St Helens beat Wakefield 32-16 to claim sixth straight win and move joint-top | Rugby League News

Super League: St Helens beat Wakefield 32-16 to claim sixth straight win and move joint-top | Rugby League News

September 3, 2023
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In