Bitcoin and cryptocurrency exchange Binance announced that it will do a maintenance work on December 24. The study is expected to take about 1 hour. The stock market will have to stop some of its activities during this period.
Binance announced in its post on December 23 that the exchange will undergo maintenance work. According to the announcement, as of December 24, in the stock exchange;
- Depositing money,
- Withdraw money,
- Spot trading
- Margin trading
- P2P trading,
- OTC trading,
- Savings & redemption services,
- Liquidity addition / removal options in liquid swap,
- Staking feature in Launchpool
- Money transfers from sub-accounts, margin accounts, futures accounts, pool accounts and fiat wallets will be suspended.
It is expected to take about an hour
The leading crypto currency exchange predicts that the work to be done will take 1 hour. Binance will give its users 30 minutes after completing this work. During this period, existing orders can be canceled and deposit / withdrawal transactions can be completed.
Binance hopes this work will “improve overall system performance and stability”. The stock exchange could not serve for more than 4 hours this week due to a problem in the price matching engine.
What do users have to do?
Deposits / withdrawals on the exchange will be stopped 10 minutes before maintenance work begins. Therefore, users who will make deposits / withdrawals must have already completed this.
While Binance stated that the related work will take 1 hour, it did not neglect to emphasize that this period may vary depending on the situation. Therefore, users should be prepared for this time to be longer than expected.