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- Binance, a leading cryptocurrency exchange, has announced the delisting of another altcoin, BIDR, effective from August 20, 2024.
- This move is part of Binance’s commitment to improving its product offerings and better serving its users’ needs.
- Users are advised to convert their BIDR assets into other available assets on Binance or use Binance Convert to convert BIDR into cryptocurrencies before the specified deadline.
Binance delists BIDR, urging users to convert their assets before August 20, 2024. This move is part of the exchange’s commitment to improving its product offerings and maintaining the integrity of its trading environment.
Binance Calls on Users to Convert BIDR Assets Before August 20, 2024
Users are advised to take proactive measures by swapping their BIDR assets with alternative existing assets on Binance or by using Binance Convert to convert BIDR into cryptocurrencies before the specified deadline. From 11:00 on August 20, 2024, any remaining BIDR balances in users’ Binance accounts will be automatically converted into FDUSD at real-time exchange rates provided by xe.com.
Important Points to Note:
Binance will continue to support BIDR deposit and withdrawal operations until 02:59 on August 19, 2024. After 11:00 on August 20, 2024, any remaining BIDR balances in users’ Spot and Funding wallets will be converted into FDUSD by Binance. The conversion process may take up to 24 hours or longer, and FDUSD tokens will be transferred to users’ Spot wallets once completed.
Spot Trading:
All existing BIDR spot trading pairs, including BTC/BIDR, ETH/BIDR, and USDT/BIDR, will be delisted at 06:00 on May 17, 2024. Open spot orders for these trading pairs will be automatically closed when trading ends. The USDT/BIDR isolated margin pair will be removed from Binance Margin at 09:00 on May 10, 2024. Isolated margin borrowing for the said pair will be suspended at 09:00 on May 7, 2024. Binance Margin will close users’ positions, perform automatic settlement, and cancel all pending orders for the USDT/BIDR isolated margin pair before removing it from margin at 09:00 on May 10, 2024.
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Conclusion
This move by Binance to delist BIDR is part of its ongoing efforts to improve its product offerings and maintain the integrity of its trading environment. Users are advised to convert their BIDR assets before the deadline to avoid any inconveniences.
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