Biggest Bitcoin exchange, Binance has alerted its regular users that all deposits, withdrawals and trading will be suspended during an 8-hour system upgrade on the 14th of November, 2018. However, it didn’t reveal the exact time frame for the same as the required time period is an estimation.

The Announcement

As given in the announcement, the time of the upgrade has been noted as being 2 AM (UTC). The team at Binance asserted that there would be constant communication during the system upgrade.

Binance has notified while stating, “The 8 hours is based on our best estimates and may vary. As usual, we will maintain regular communication on the progress of the upgrade on our various social media channels.”

It adds, “We recommend that you download the latest version of the Binance APP to receive live push notifications on our updates (Android, iOS App Store).”

Latest Version

Binance CEO, Changpeng Zhao who is known as “CZ” tweeted about the new version of the mobile trading app available on Android and iOS App store. The new version has notifications for its users, which indicates that all your Binance updates will be available at your fingertips. The tweet suggests downloading the upgraded app if you haven’t already.

Recently, Binance declared that it is going to embrace institutional investors. Therefore, an upgradation of the existing system might become essential to introduce new features and facilities on the exchange.

Binance’s early upgradations and implementations have been very impressive. One such program was the ‘SAFU’ program. ‘SAFU’ was built to safeguard the exchange’s users and their funds in extreme times.

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