The massive cryptocurrency exchange Binance will start maintaining the Bitcoin (BTC) network’s wallet on Friday.
An update from the firm states that starting on November 3, BTC withdrawals will be temporarily suspended until the maintenance is finished. The wallet repair is scheduled to begin at 02:00 (UTC) and should last around thirty minutes.
The notice stated, “Deposits and the trading of digital assets/currencies on Bitcoin network will not be impacted during the maintenance.” “After the maintenance is finished, Binance will reopen withdrawals and won’t send out any additional announcements to users.”
Bitcoin Withdrawals on Hold: Binance’s Wallet Maintenance Update,Bitcoin Withdrawals on Hold: Binance’s Wallet Maintenance Update
May saw Binance suspend Bitcoin withdrawals for a few hours due to high demand and rising processing costs. Because it had not paid “miners” enough to register deals on the blockchain, there were too many outstanding transactions, which led to the suspension.
The exchange then informed its subscribers, “Our fees have been adjusted to prevent a similar recurrence.”
Due to technical difficulties, Binance had previously stopped accepting deposits and withdrawals in March.
Relisting 25 Trading Pairs for Spots
In addition, Binance declared on Friday that 25 trading pairs will be removed from the market in an effort to “protect users and maintain a high-quality trading market.”
On No. 3, the exchange will stop trading 25 pairs in two groups. It made it clear that “the availability of the tokens on Binance Spot does not affect the delisting of a spot trading pair.”
Users can still quote assets on other trading pairs that are accessible and trade the basis of spot trading pairs, according to Binance. Additionally, Binance would stop providing Spot Trading Bots for the 25 trading pairs.
“In order to prevent any potential losses, users are strongly advised to update and/or cancel their Spot Trading Bots prior to the termination of Spot Trading Bots services,” the exchange stated.
Bitcoin Withdrawals on Hold: Binance’s Wallet Maintenance Update,Bitcoin Withdrawals on Hold: Binance’s Wallet Maintenance Update,Bitcoin Withdrawals on Hold: Binance’s Wallet Maintenance Update, Binance coin Crypto news, Binance coin News