Binance iota reddit how to#
Binance iota reddit upgrade#

Open a Binance Account here and save 10% on fees for a lifetime. This also applies to IOTA, where now Binance customers can again rely on transferring their funds to a Ledger Nano S or Nano X for highest security standards and store them there offline. But in spot trading, Binance remains important and popular platform due to low fees and high liquidity, which in turn guarantees fair prices. First of all, I read that we now have the option to change our Iotas to Binance via the Binance Bridge, for example to use them as a Binance token for staking out or for something else. Conclusion: Binance remains an important contact point for trading with IOTAīinance has recently had to cancel some offers in Germany, probably due to pressure from regulators. IOTA on Binance Smartchain per Bridge Hi Guys, I have a few questions and I hope you can help me. After another ten days of waiting, however, everything is now – as far as is known – okay for Binance customers using IOTA. The problem was known, but a date for the solution was not, Binance said. The situation was met with incomprehension and indignation when Binance was still unable to support payouts in IOTA. According to its own information, Binance stores IOTA assets on Ledger hardware wallets and therefore had to put payouts in IOTA on hold as well. Frustration had built up in the good three months of waiting for this, as balances in IOTA 1.5 were effectively frozen on Ledger hardware wallets and could not be used or sold.īut even when the IOTA Foundation solved the technological problems in the interaction with Ledger hardware wallets, Binance customers continued to look down the tube.

Binance iota reddit how to#

It wasn’t until early August that the promised solution came on how to make the Ledger Nano S or Ledger Nano X compatible with IOTA again and migrate older balances to IOTA 1.5 levels.

Binance iota reddit upgrade#

Customers therefore braced themselves for not having to worry about anything technologically at Binance when it came to IOTA.īut then IOTA did not deliver a way to link IOTA 1.5 with Ledger’s popular and widely used hardware wallets in time for the Chrysalis upgrade as promised. Binance, as the world’s main trading venue for IOTA, had announced in advance that it was going along with the move to IOTA 1.5 (Chrysalis). This major technological upgrade made it necessary to transfer balances in IOTA to the new Tanglenet through a migration process.

After all, the back story is not a glorious one for either IOTA or Binance.įlashback: On April 28, 2021, IOTA 1.5 was launched. When the long-awaited news made the rounds on Reddit, it was met with enthusiasm. Since yesterday, Monday, they can withdraw IOTA again and then store it on the official IOTA wallet Firefly or on a hardware wallet Ledger Nano S or Nano X.

The months-long suspension of deposits and withdrawals in IOTA at Binance has come to an end.īinance customers who have invested in IOTA are relieved. IOTA investors can finally access full service again at leading crypto exchange Binance.