Binance, recognized as the largest cryptocurrency exchange globally by trading volume, has scheduled a system update aimed at improving account services. Set for September 25, 2024, at 09:30 (UTC), the update is anticipated to span approximately three hours. Users may face brief service interruptions during this period, as Binance seeks to boost system performance and stability.
Which Services Will Be Impacted?
The system update will temporarily affect various services on the Binance platform. This includes account logins, new registrations, spot and margin trading, futures transactions, P2P operations, VIP services, and other features tied to user accounts. While the disruptions are expected to last only a few minutes for each individual, normal access to Binance’s products and services will resume shortly after.
Despite the interruptions, Binance assures users that their data and assets will remain secure throughout the update. Additionally, API-related transactions will not be impacted, though users might face difficulties accessing their accounts or conducting trades during this timeframe.
How Can Users Mitigate Risks?
To reduce potential risks and losses during the update, Binance recommends that users assess their current positions and orders. Strategies such as lowering leverage, adding collateral, or even closing positions might be necessary precautions. The exchange has stated it will not be accountable for any losses incurred during the update process.
Binance has also highlighted that the anticipated duration of the update may be subject to modifications. Once completed, all impacted functions will be restored, and users are advised to remain vigilant and take the necessary protective steps during the update. No further announcements on this system update will be issued by Binance.
As Binance gears up for this scheduled maintenance, it continues to prioritize the security and efficiency of its platform, underscoring its commitment to providing robust services to its users worldwide.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/binance-plans-system-update-affecting-services