Binance to Support the Stellar Lumens During XLM Network Upgradation

Binance has announced to support the network upgradation of XLM by the Stellar Lumens. The process is tentatively scheduled to happen on June 08, 2022, at 15:00 UTC.

While users will be unable to deposit and/or withdraw their holdings on June 08, 2022, at 14:00 UTC, the network upgrade will not impact the trading process. One will resume deposits and Withdrawals once the upgraded network is deemed stable by the team.

The estimated up time is yet to be announced. There is, however, clarity that Binance will handle all the technical requirements. The starting time is for reference only as the upgradation could start at any moment once the deposits and withdrawals are paused.

Binance is a crypto exchange platform that allows users – new or experienced – to acquire digital tokens. Its operations are spread across the globe, with members doing their best to retain the top spot as the exchange platform.

It was once predicted that cryptocurrencies would either replace traditional financial systems or become an integral part. Taking note of this prediction, the team did not waste a single second coming up with something that would make people’s lives easier.

The platform’s success can be measured by reviewing that the platform executes 2 billion average daily volumes by processing more than 1,400,000 transactions every second. Customer support service is available for users all day and night.

The ecosystem set up by Binance includes elements to support upcoming innovations, share knowledge about blockchain technology, support entrepreneurs in their endeavors, and allow traders to store their digital holdings securely. BNB is the native token of Binance, fueling the entire ecosystem with a visitation to increase the global freedom of money among people.

Binance supports at least 19 fiat currencies to allow users to acquire any of the hundreds of cryptocurrencies. Users can also consider more than 100 trading pairs for their portfolios. Explore more features by reading the review of Binance exchange.

Founded in 2017, Binance excels in offering key features like mobile trading, eWallet, and trading account, among many others. Mobile trading allows investors to check their holdings and execute a deal from any part of the world.

eWallet securely stores the digital token to assist in sending and receiving the token from another person. An added advantage of keeping tokens in Binance eWallet is that users get an option of earning interest as a passive income.

Trading accounts could be Basic or Advanced, and the choice depends on the expertise level of a trader. Beginners are recommended to start with a Basic Trading account, and experienced ones can risk proceeding with the Advanced Trading account.

There is no doubt that the team behind Binance is well-versed with the technology employed in a decentralized blockchain-based network. The XLM upgrade would probably come out as a success before someone blinks their eyes.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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