Binance Plans to Phase Out Current IOTA Deposit Addresses: Explanation Provided
Cryptocurrency Alert: Binance.US Supports IOTA Mainnet Upgrade, Users Told to Act Now
Listen up, crypto enthusiasts! Binance.US, the American counterpart of the major cryptocurrency exchange, Binance, has announced its support for the upcoming IOTA mainnet upgrade. Here's what you need to know if you're an IOTA holder on Binance.US.
Starting on May 5, 2025, at 3:00 a.m. EDT, IOTA will undergo a significant network upgrade, moving away from its current Stardust architecture and ushering in a new era. To prepare for this shift, Binance.US will pull the plug on existing IOTA deposit addresses on May 2, 2025, at 11:00 p.m. EDT and provide fresh addresses once the upgrade is complete.
That's right, folks! If you don't act fast, you might kiss your IOTA goodbye. Users are strongly advised to deposit their IOTA before May 2 to save themselves the heartache of permanent fund loss.
Deposits and withdrawals for IOTA will be put on hold starting May 2, 2025, at 11:00 p.m. EDT. So, don't even think about depositing IOTA after this date as it won't be credited to your account. Furthermore, if you've saved or whitelisted an old deposit address, better wipe it clean, because it's goners, baby!
But don't fret – new IOTA deposit addresses will make a comeback within a week of the upgrade.
In case you're curious about the Rebased network upgrade, don't worry – we've got you covered:
- Old Addresses Away: Say arrivederci to your existing IOTA deposit addresses – Binance.US is retiring them ahead of the upgrade, so don't get stuck without a way to deposit your IOTA.
- Global Support: Binance.US isn't playing games – they'll suspend IOTA deposits and withdrawals on the global platform, too, to ensure a smooth upgrade process.
- Update Time: Once the upgrade is done, don't forget to update your wallets or tools to ensure they work seamlessly with the new Rebased mainnet.
- Speedy Transactions: The Rebased upgrade aims to improve transaction speed and network performance, so hold onto your hats and hang on for a wild ride!
- Stay in the Know: Keep your eyes peeled for official announcements from both IOTA and Binance.US, as they'll provide any additional guidance or instructions as the upgrade process unfolds.
So, there you have it, folks! If you're an IOTA fan on Binance.US, remember to deposit your coins before May 2, or else you'll be left out in the cold. Happy crypto-ing!
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Enrichment Data:- IOTA Token Deposits: Users should ensure they deposit their IOTA before May 2, 2025, to save their funds from being permanently lost.- Address Retirement: Binance.US will retire existing IOTA deposit addresses on May 2, 2025, ahead of the mainnet upgrade.- Temporary Suspension: IOTA trading on exchanges will continue uninterrupted, but deposits and withdrawals might be temporarily paused during the upgrade.- Update Requirements: After the upgrade, users need to update their wallets or tools to ensure compatibility with the new Rebased mainnet.- Performance Improvement: The upgrade is expected to introduce improvements in transaction speed and network performance.
- Binance.US, the leading cryptocurrency exchange, has announced its support for the upcoming IOTA mainnet upgrade scheduled for May 5, 2025.
- For IOTA holders on Binance.US, it is crucial to act now as the exchange will retire existing IOTA deposit addresses on May 2, 2025, ahead of the upgrade.
- To avoid permanent loss of funds, users should deposit their IOTA before May 2, 2025, at 11:00 p.m. EDT, as deposits and withdrawals will be put on hold starting from that date.
- Users are advised to wipe clean any old deposit addresses saved or whitelisted, as they will become inactive after the upgrade.
- After the upgrade, fresh IOTA deposit addresses will be provided within a week.
- The Rebased network upgrade aims to improve transaction speed and network performance, making it a significant development in the crypto landscape, especially for the cryptocurrencies like Binance Coin (BNB), Bitcoin (BTC), Ethereum (ETH), and other altcoins like IOTA.
