Bitcoin Has A Lower Value In Binance

[BitMaxz]

This is not a bug nor glitch in their app according to the news below "The impact of enforcement action against Binance.US is affecting the prices of cryptocurrencies on its exchange"
And according to the news, it's a crypto discount it is ranging from 2% to 5% discount.

That is why you see different prices on the BTC/Fiat compared to Binance.com and according to the news, not only BTC is affected by this also other Crypto/Fiat pairs like ETH.

- https://www.bloomberg.com/news/articles/2023-06-28/crypto-discounts-worsen-on-binance-us-as-sec-investigation-s-impact-takes-hold

[noorman0]

Omg I'm so confused.  Sorry for not mentioning binance.us in the OP.  I've always been using binance.us for many years and the btc, eth, and all other prices have always been consistent.  Why are they lower now?

But still I'm curious that you are actually using the official app (if that image was captured as of today). I have looked at the binance us chart more closely, no btc/usd price has even gone below 30k since the close last June.

The price diff between US and Global is not very significant at this time.

[mikebj22]

Omg I'm so confused.  Sorry for not mentioning binance.us in the OP.  I've always been using binance.us for many years and the btc, eth, and all other prices have always been consistent.  Why are they lower now?

But still I'm curious that you are actually using the official app (if that image was captured as of today). I have looked at the binance us chart more closely, no btc/usd price has even gone below 30k since the close last June.

The price diff between US and Global is not very significant at this time.

Yes, I'm using the Binance.US app.

[mikebj22]

Omg I'm so confused.  Sorry for not mentioning binance.us in the OP.  I've always been using binance.us for many years and the btc, eth, and all other prices have always been consistent.  Why are they lower now?

But still I'm curious that you are actually using the official app (if that image was captured as of today). I have looked at the binance us chart more closely, no btc/usd price has even gone below 30k since the close last June.

The price diff between US and Global is not very significant at this time.

So is there anything I can do or am I screwed and out of thousands of dollars?

[royalfestus]

Didn't work.  I uninstalled and reinstalled it and logged in and its still lower.  I also restarted my phone.  I also checked the value by logging in via PC and its still lower.

Double check what currency you're using on the Binance app. All you need to know is that the problem is on your side, because everything's fine with everyone lol. You can even check CoinGecko's Binance price.

It's possible that what he's saying holds some truth, but let's consider another perspective: prices can fluctuate within a matter of minutes. Additionally, when it comes to cryptocurrency discussions, the average price is often based on exchanges rather than volume. Moreover, the all-time high prices can differ between exchanges.

[Darker45]

This is not a bug nor glitch in their app according to the news below "The impact of enforcement action against Binance.US is affecting the prices of cryptocurrencies on its exchange"
And according to the news, it's a crypto discount it is ranging from 2% to 5% discount.

That is why you see different prices on the BTC/Fiat compared to Binance.com and according to the news, not only BTC is affected by this also other Crypto/Fiat pairs like ETH.

- https://www.bloomberg.com/news/articles/2023-06-28/crypto-discounts-worsen-on-binance-us-as-sec-investigation-s-impact-takes-hold

I was thinking this is more of a technical issue. But I considered the 5% discount and it seems right around the amounts mentioned in the OP. There's a slight yet significant difference, though. If the maximum discount is at 5%, the price should be $29,756.85 and not $29,125.

Anyway, if this is indeed caused by what Binance.US is going through, isn't this a great way to do some arbitrage? Even considering the spread, with a difference of more than 5%, it's probably good enough.

So is there anything I can do or am I screwed and out of thousands of dollars?

So you did buy or sell? Did you try making a withdrawal? I mean, one could make the most out of this. Well, provided this is indeed the real price in the legit Binance.US platform.

[sunsilk]

Omg I'm so confused.  Sorry for not mentioning binance.us in the OP.  I've always been using binance.us for many years and the btc, eth, and all other prices have always been consistent.  Why are they lower now?

But still I'm curious that you are actually using the official app (if that image was captured as of today). I have looked at the binance us chart more closely, no btc/usd price has even gone below 30k since the close last June.

The price diff between US and Global is not very significant at this time.

So is there anything I can do or am I screwed and out of thousands of dollars?

You're not screwed, your money remains to be there. I've checked the binance.com and binance.us and compared the price of bitcoin for both platforms.

Spot:
On Binance.us, BTC = $28,645.32

On Binance.com, BTC = $31,130.03

There's really a big disparity for both platforms price for Bitcoin and the reason was mentioned by Bitmaxz and usually, exchanges from here and there do have difference with their rates.

[noorman0]

So is there anything I can do or am I screwed and out of thousands of dollars?

I looked at the chart again, and you were right about the difference in price (I withdraw my previous doubts, sorry). And I think this is the cause:
https://www.binance.us/spot-trade/usdt_usd

I don't know what exactly happened, USDT is devalued against its own reserve currency on binance US exclusively, otherwise I don't see that on coinbase

[mikebj22]

Omg I'm so confused.  Sorry for not mentioning binance.us in the OP.  I've always been using binance.us for many years and the btc, eth, and all other prices have always been consistent.  Why are they lower now?

But still I'm curious that you are actually using the official app (if that image was captured as of today). I have looked at the binance us chart more closely, no btc/usd price has even gone below 30k since the close last June.

The price diff between US and Global is not very significant at this time.

So is there anything I can do or am I screwed and out of thousands of dollars?

You're not screwed, your money remains to be there. I've checked the binance.com and binance.us and compared the price of bitcoin for both platforms.

Spot:
On Binance.us, BTC = $28,645.32

On Binance.com, BTC = $31,130.03

There's really a big disparity for both platforms price for Bitcoin and the reason was mentioned by Bitmaxz and usually, exchanges from here and there do have difference with their rates.

Wow, that sucks.  I hope the disparity doesn't get worse.

[sheenshane]

What the Hell is going on?  The value of Bitcoin in the Binance app is $29,125 but when I Google it, its $31,323?!?!?

Its just that the app is not updated or the Google might be delay? Which one could be more accurate to see, but if in Google its says 31k then probably a glitch on binance app. Before I can see that too, cause the app is lagging or having some sort of error. Anyway it could not be so far from the difference.

Not the app was outdated, it's already explained above.
OP using the Binance US app more than the global app, and the reason could be these,

• Fiat currency support
• Time zone differences
• Regulation and compliance
• Liquidity

Because the reason is Binance Global has a wide variation and supports more coins than the US.
150+ cryptocurrencies for the US and 600+ cryptocurrencies for Binance.