- The old ones will be phased out over the next months
- The exchange plans to complete this process by the end of the third quarter.
- This needs to be done only for those users who will be notified accordingly.
- To get a new address, just go through authorization in the application or on the website
Today, July 6, the Binance exchange published a memo on updating deposit addresses. In the near future, some site users will receive a notification that they need to receive a new invoice and memo (note tag).
“Binance is updating its wallet infrastructure to improve efficiency and security for its audience. We will be removing deposit addresses in batches across networks.” – says in release.
There you can also find a table that indicates for which of the assets you need to receive a new note tag. In particular, these are XRP, HBAR, RUNE, KAVA, IOST, STX, WAX, SCRT, INJ and others.
You need to update the deposit address only if the user has received a corresponding notification on his e-mail. To do this, it is enough to pass authorization in the application or on the platform website.
But even if it has been deleted, the user will retain access to the funds hosted on it. This can be done in the Transaction History section. Binance plans to complete the update of deposit addresses before the end of this quarter. Recall that in April, the exchange carried out such a procedure for ETH. Binance resorts to this practice not only to keep the infrastructure up to date, but also because of the ever-increasing load.