Binance Resumes Trading after Temporary Suspension

03/24/2023 13:44 • Digital Disruptors • 85 views

On March 24th, according to the official announcement, Binance will resume trading at 22:00 on March 24th. Users can now perform operations such as canceling orders, recharging, C2C transactions, pledging and borrowing currency, redeeming Binance wealth management products, and transferring assets (sub accounts, leveraged accounts, contract accounts, and legal currency accounts).

Binance will resume trading at 22:00 on the 24th

Introduction

Binance is among the most popular cryptocurrency exchanges in the world, providing a platform for cryptocurrency trading and investment. However, on March 23rd, Binance temporarily suspended all trading activities to perform a system upgrade. This measure was taken to enhance the platform’s security, performance, and overall user experience. On March 24th, Binance announced the resumption of trading, allowing users to perform various functions such as canceling orders, recharging, C2C transactions, pledging and borrowing currency, redeeming Binance wealth management products, and transferring assets.

What Happened During the Temporary Suspension?

During the temporary suspension, Binance upgraded the platform’s core matching engine, order management system, and risk control system. This upgrade has enhanced the platform’s performance, making it more secure, efficient, and user-friendly. Additionally, Binance conducted a security audit that resulted in the detection and resolution of various vulnerabilities, bugs, and issues that could impact user experience negatively.

What Functionalities Are Now Available?

With the resumption of trading, Binance users can now perform various operations such as canceling orders, recharging, C2C transactions, pledging and borrowing currency, redeeming Binance wealth management products, and transferring assets. These functionalities are accessible from sub-accounts, leveraged accounts, contract accounts, and legal currency accounts.

How Does the Upgrade Impact Users’ Experience?

The upgrade has improved the overall performance of the platform, reducing the likelihood of system malfunction and downtime. Additionally, the system’s enhanced security measures protect users’ assets and personal information from potential threats such as hacking, phishing, and scams. The risk management system also provides users with real-time alerts and notifications in case of unusual trading behavior or significant market fluctuations, enabling them to make informed investment decisions.

Conclusion

Binance’s temporary suspension of trading was a necessity to enhance the platform’s performance and security. The upgrade has improved the user experience by providing seamless and secure trading functionalities. Users can now enjoy various operations such as canceling orders, recharging, C2C transactions, pledging and borrowing currency, redeeming Binance wealth management products, and transferring assets.

FAQs

**Q1. Why did Binance suspend trading?**
A1. Binance suspended trading to perform a system upgrade and security audit.
**Q2. What operations can I perform with the resumption of trading?**
A2. You can perform operations such as canceling orders, recharging, C2C transactions, pledging and borrowing currency, redeeming Binance wealth management products, and transferring assets.
**Q3. How does the upgrade impact users’ experience?**
A3. The upgrade has improved platform performance, enhanced security measures, and provided real-time notifications for informed investment decisions.

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