Binance gears up for major upgrade: What you need to know

The largest crypto exchange globally—Binance—has scheduled a system upgrade from April 23 to April 24 to improve its overall performance and reliability. Users are alerted that the upgrade process might result in temporary gaps when accessing the website or mobile application. Impacted services include new user registration, login, trade service, etc.

Binance system overhaul ahead

On the contrary, Binance emphasized that the rising of the transaction confirmation neural network is still under construction. The crypto exchange cautioned that users’ funds are well-secured during the upgrade. The services will resume once the whole process is completed.

It ought to be noted that there will not be more updates on the matter. In this regard, anything anyone finds online should be consumed with caution. Furthermore, the company is set to improve its guarding system by adding new features and keeping it up-to-date to respond to recent market trends and improve users’ experience. In February of this year, it claimed terminating services for Monero(XMR) and three other altcoins, such as Aragon(ANT), Multichain(MULTI), and Vai(VAI).

Trading options

Binance proceeded with broader trading options, launching the USDT/MXN pair for Mexican traders. Soon after, it made a dozen adjustments to Binance Loan to create more liability assets, including memes coins, such as Wifhat (WIF) and Pepe (PEPE).

Recently, it has listed the ARB/USDC and NEO/USDC perpetual contracts with up to 50x leverage. Following that, it has offered the ARB/USDC to USDC, with up to 75x leverage.

Equipped with them, traders can take advantage of higher-risk instruments to the increasing demand for leveraged trades in cryptocurrency markets. While this type of position can potentially bring in impressive gains, traders need to take care and emphasize risk management when they engage in leverage trading because this type of trading is risky.