As a seasoned crypto investor with years of experience under my belt, I’ve learned to expect the unexpected in this fast-paced world of digital assets. Binance’s upcoming system upgrade on September 25 doesn’t scare me; it’s just another day in the life of a cryptocurrency enthusiast!
TL;DR
- Binance will perform a system upgrade on September 25, lasting around three hours, during which users may experience temporary interruptions in services like account login, trading, and other features.
- The company assures users there is no risk for their funds, recommending they take precautions such as adjusting account positions, while API trading will remain available during the upgrade.
Rest Assured, Data and Assets Will Not be Affected
On September 25, Binance plans to carry out a system upgrade aimed at enhancing overall performance and stability. This operation is expected to last around three hours, during which users might encounter some disruptions or interruptions in service.
During the upgrade process, you might encounter occasional disruptions in using all Binance services. This could affect actions like logging into your account, registering a new one, trading on Spot, Margin, Futures, P2P platforms, accessing VIP account services, and other account-related features. These interruptions might last just a few minutes per user, and you’ll be able to resume using Binance products shortly after the upgrade.
Binance guarantees that user’s data and funds will stay secure throughout the update. Additionally, it mentioned that trading services can still be accessed via API during this process.
The company advised users to take precautions ahead of time to prevent possible financial losses. Some suggestions include assessing and monitoring your account balances and orders, such as lowering your leverage.
After the upgrade, all services will be back online and Binance won’t share any additional details. Therefore, anything you find online about this situation should be viewed skeptically.
Previous Such Developments
On a routine basis, the largest cryptocurrency exchange globally often undergoes updates. Recently, it carried out maintenance on wallets associated with the BNB Smart Chain (BEP20), which momentarily suspended deposits and withdrawals on this network to facilitate the process.
Before that, Binance temporarily halted certain services with TON, as they were carrying out an update similar to one on The Open Network. This action took place just a few weeks after the company had officially added Toncoin (TON) to their platform.
In the middle of July, transactions on all networks were momentarily halted because another wallet needed maintenance. Normal operations resumed after the updates.
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2024-09-23 20:28