Binance will proceed with the conversion of several cryptocurrencies to USDC, including Bitcoin Gold (BTG) and Monero (XMR).
Conversion of Multiple Cryptocurrencies to USDC
This conversion will take place based on the average exchange rate between September 2, 2024, and March 1, 2025. It will thus ensure that users receive an equivalent in USDC for their holdings in the affected tokens.
Bitcoin Gold and Monero are among the cryptocurrencies selected for conversion. Indeed, users holding these tokens in their Binance wallet should be particularly attentive.
They will need to withdraw their BTG and XMR before September 1, 2024, at 11:59 PM UTC, as withdrawals will be disabled after this date.
Early Withdrawal of BTG and XMR Recommended
Other cryptocurrencies are also affected by this conversion. Notably, we can mention: Bitshares (BTS), District0x (DNT), Groestlcoin (GRS), Hegic (HEGIC), MobileCoin (MOB), Monetha (MTH), Multichain (MULTI), Navcoin (NAV), Sologenic (SOLO), Spartan Protocol (SPARTA), Symbol (XYM), and Tribe (TRIBE).
The conversion process will end on March 1, 2025 at 11:59 PM UTC. During this period, users will not see these tokens in their wallets. Indeed, the calculation is based on the average exchange rates for this duration.
Among other things, Binance will inform users by email about the details of the conversion and the average exchange rates.
It is important to note that deposits of these tokens are no longer accepted. Additionally, Binance promises to inform all affected users by August 19, 2024, with more details on the conversion.
BTCC
- More than 12 years in the trading market
- Interface for beginners and professionals
- Copy trading function