• Binance, the biggest cryptocurrency exchange in the world, announced that it will convert all New Bitshares (NBS) token balances to USDT by December 8, 2023.
• The conversion will be based on users’ NBS holdings in their Binance wallets at the snapshot time of September 9, 2023.
• Users should expect to receive the Tether (USDT) equivalent of their remaining NBS tokens by December 0, 2023.
Binance Conversion Of New Bitshares (NBS)
Binance, the largest cryptocurrency exchange in the world, has recently announced that it will convert all New Bitshares (NBS) token balances held by users into USDT before year ends. The conversion will be carried out using the average NBS/USDT exchange rate between September 9 and December 8, 2023 and is based on users’ NBS holdings in their Binance wallets at a snapshot taken on September 9th this year.
Delisted Tokens
In October last year, Binance delisted District0x (DNT), New Bitshares (NBS), Bitcoin Gold (BTG), and Token Club (TCT). Depositing these tokens was not allowed after October 25th last year and withdrawals were only supported until January 25th this year.
What Users Should Expect
Users who hold New Bitshares (NBS) tokens in any of their Binance wallets will receive an email notification from August 25th this year with regards to the conversion process. They can continue withdrawing their NBS tokens from Binance until September 9th this year subject to network conditions and availability. After this date they won’t be able to withdraw or transfer their NBS token to any external wallets but should expect to receive Tethers equalling their remaining NBS tokens by December 0th when the conversion is expected to complete.
Purpose of Delisting
Binance periodically reviews its listed tokens to ensure they meet its high levels of standards and expectations which is why these four tokens were delisted from its platform last October.
Conclusion
The announcement from Binance indicates it’s commitment towards providing quality services while ensuring user safety when it comes to cryptocurrencies trading activities on its platform; something that has made them remain as one of the most trusted exchanges among crypto traders worldwide over years now.
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