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The world’s largest cryptocurrency exchange by trading volume, Binance, has announced its support for the upcoming network upgrade of Bitcoin Cash (BCH). In line with supporting the network upgrade, deposit and withdrawal services for BCH and tokens on the network will be temporarily suspended.
Binance to Support Bitcoin Cash Network Upgrade
Major cryptocurrency exchange Binance has announced its support for the upcoming network upgrade of Bitcoin Cash. Accordingly, deposit and withdrawal services for BCH and tokens on the network will be temporarily suspended starting from 14:00 (local time) on May 15, 2024, in preparation for the upgrade scheduled to commence around 15:00 (local time). Despite the interruption in deposit and withdrawal services, BCH trading on Binance will continue without any disruption.
Binance’s decision to support the Bitcoin Cash network upgrade is part of its commitment to providing the best user experience for its customers. The cryptocurrency exchange aims to facilitate a smooth transition during the upgrade process by temporarily suspending deposit and withdrawal services to minimize potential disruptions for its users. Binance will handle all technical requirements related to the update on behalf of its users.
Throughout the network upgrade, Binance assures its users that trading activities will continue as usual, allowing them to trade BCH without any interruption. The cryptocurrency exchange’s users will be able to buy, sell, and exchange BCH without any restrictions.
This continuity in trading activities reflects Binance’s commitment to providing a seamless and efficient trading environment for its users, even amidst network upgrades and technical adjustments.
No Second Announcement for Resuming Transactions
After the completion of the network upgrade and confirmation that the updated Bitcoin Cash network is functioning smoothly, Binance will resume deposit and withdrawal services for BCH and other tokens on the network.
The cryptocurrency exchange will closely monitor the network’s performance and stability before restarting these services, ensuring that users can safely and securely transact with their BCH on the updated network. Binance will resume deposit and withdrawal services for BCH and other tokens on the network without a second announcement once the network is confirmed to be stable.
