Binance, a platform for the trading of digital forms of money positioning in the best 10, invites both multi-dialect and worldwide crowd. The organization is seeing rapid development since its ICO. The trade motor of Binance is with the end goal to oblige 1.4 million trade arranges in a second and can currently hold 20 million users.
Fellow Binancians have been warned about the system upgrade of Binance, as the exchange announced:
“#Binance has commenced the scheduled system upgrade. The upgrade will take approximately 4 hours. Withdrawals and trading will be suspended during this period. We apologize for any inconvenience caused and thank you for your patience.”
CZ the co-founder of Binance tweeted:
“1 month in crypto is like a year in traditional industries. During a system upgrade, every second is like a year. Sorry that it took way longer than the test run, with the same data…”
Crypto love, a Twitter user, and Crypto-enthusiast said:
“you took more than 4 hours for upgradation can’t we get compensation ? if we had spent time in trading we could have earned more”
Later, Binance announced that they have completed the system upgrade and would resume all trading activity at 9:30 AM [UTC]. Until the commencement of trading, users will be able to cancel orders, process deposits, withdrawals, and use all other account related functions.
Soon after this announcement, Binance faced some technical glitch and the trading platform was yet, again under development.
Binance on their official website said:
“Due to a warning from a pre-trade check in our risk management system, we will postpone the start of trading and withdrawals. Please stay tuned for more information regarding the reopening of trading and withdrawals.”
Finally after a wait of over 6-8 hours Binance, announced that the panel is up and is working with a condition that Binance will resume all trading and deposit starting from 20:00 PM [UTC+8] but the withdrawals will be 1 or 2 hours later.
The users of the platform are currently facing inconvenience due to the unavailability of the features of Binance considering the issue is taking over 6hours to resolve.
source: https://ambcrypto.com/binance-under-system-upgrade-withdrawals-tradings-resumed/