Australian
investors’ concerns about the future of their positions have led to Bitcoins
(BTC) on Binance Australia being sold at a significant discount compared to
competing platforms operating in the country. According to Tuesday’s data, a
single BTC on Australian Binance costs even AUD 9,000 less than on the BTC
Markets, another locally operated crypto exchange . Binance Australia offered AUD
34,000, while BTC Markets AUD 43,000.
Experts
believe such a large difference is due to the fact that earlier this month,
Binance informed its Australian consumers that they would not be able to
withdraw funds from the exchange and deposit new ones due to the cessation of
services by the third-party payment company.
On 18 May,
Binance Australia stated that deposits would be suspended immediately. Four
days later, information appeared that the final suspension of deposits and
withdrawals would take place from 1 June, which is this week.
“We are
working hard to find an alternative provider to continue offering AUD deposits
and withdrawals to our users,” Binance commented on social media.
UPDATE – We have confirmed with our local payment partner that our users can continue to withdraw AUD via bank transfer until 17:00 June 1, 2023 AEST. Users can still continue to buy and sell crypto via debit and credit card.
We are working hard to find an alternative provider…
— Binance Australia (@Binance_AUS) May 22,…
