The crypto community was angry after the recent decision of the Binance platform!
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Answer The crypto community was angry after the recent decision of the Binance platform!
The Binance platform is among the major global platforms that many cryptocurrency traders resort to, due to the advantages and options it offers.
But recently it announced a decision that irritated users.
Whereas, against the backdrop of heavy congestion on the Ethereum network and to facilitate the withdrawal of ERC20 coins based on Ethereum or Ethereum itself, she decided Binance doubled the Ethereum withdrawal fee from 0.003 to 0.006 Ethereum.
While the fees for withdrawing ERC20 coins increased from 0.006 ETH to 0.01 ETH.
Binance said the decision and increase are only temporary.
To better facilitate ERC20 and ETH withdrawals during this period of heavy congestion on ETH dollar network, we make the following temporary adjustments:
Read:The founder of Ethereum reveals the success of algorithmic stablecoins and explains the reason for the collapse of UST
ETH withdrawal 0.003 ETH is now 0.006 ETH
ERC20 withdrawal 0.006 ETH is now 0.01 ETH
Withdrawals will reopen soon. pic.twitter.com/gN4s0GPzKB
– Binance (binance) March 12, 2020
Crypto community reaction:
Binance users reacted with anger and dismay over Binance’s recent action of doubling withdrawal fees.
As one Binance user commented:
It’s totally absurd.
Another said:
It’s theft.
Others said the procedure was fraudulent.
Cheating boys. Roberty boys
– Xcrypto89 (@xcrypto89) March 12, 2020
The new move taken by Binance appears to be counterproductive to customers as they see this increase as directed against them.
The CEO of Binance previously endorsed the founder of Tron in his coup against the DPoS validator list in the STEEM network, which also angered the crypto community, which we mentioned earlier on the Bitcoin Arab website:
Read:Report: Binance and Huobi Help Bitcoin and Crypto Criminals Launder Billions of Dollars of Money
Binance CEO Admits to Participate in Acquisition of Steem
CZ apologizes and tells that he did not analyze and understand the situation better and voted without knowing the details.
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China reveals its new assessment of blockchain networks for early 2020… and EOS leads
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