Buckle Up, Traders: Binance Announcement Shakes Up Bitcoin And Ethereum
Hold onto your hats, crypto traders, because Binance just dropped a bombshell announcement that’s sending shockwaves through the market! This update is not just a ripple in the pond- it’s a tidal wave potentially reshaping the landscape for Bitcoin(BTC) and Ethereum(ETH) traders like you.
Binance, the world’s largest crypto exchange, is discontinuing support for several P2P trading pairs involving the Russian ruble, such as BTC/RUB and ETH/RUB, starting January 31, 2024. This decision aligns with Binance’s recent exit from the Russian market, having sold its local business to CommEX.
What Does This Mean for Users?
Russian traders have options: transition to CommEX for ongoing ruble trading or utilize Binance’s services to withdraw or convert rubles before the specified deadline. Binance ensures a seamless transition, allowing users to continue P2P trading with RUB on the CommEX platform without charges.
Following its departure from the Russian market, Binance clarified that users can now engage in P2P trading with RUB on CommEX, emphasizing a user-friendly experience.
Options for Binance Users:
Users can register with CommEX, connecting their accounts for continued ruble trading. Alternatively, they can withdraw rubles via Binance’s fiat partners before January 31, convert RUB into digital assets, or trade RUB for crypto on the Binance Spot market.
Binance Expands Offerings:
Despite the ruble pairs withdrawal, Binance introduced new tokens and trading pairs, including PIVX on Cross Margin and Isolated Margin. Notable additions are ADA/FDUSD and DOGE/FDUSD in the Isolated Margin program, providing users with diversified options.
Binance’s Margin Trading program empowers eligible clients with access to leveraged funds, amplifying profit potential and risk. While it opens doors to greater gains, caution is advised as market movements can result in substantial losses.
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