How is that even possible when #LTC and #Dogecoin are PoW cryptos," a popular dogecoin-focused Twitter handle Mishaboar tweeted on Tuesday. Binance is suspending deposits and withdrawals for several tokens linked to cross-chain router protocol Multichain, according to an announcement the crypto exchange published on Wednesday. This one is referred to as "Locked Staking," and it allows you to "stake" LTC and Dogecoin. The explanation comes after several prominent social media influencers and investors disapproved of the program after it went live on Tuesday, questioning how it is possible to stake coins like DOGE and LTC, as their parent blockchains use a proof-of-work consensus mechanism. Binance offers a variety of payment methods for users to purchase cryptocurrencies, including bank transfers, credit and debit cards, peer to peer trade. ![]() Dogecoin (DOGE) was one of the hottest crypto assets. ![]() "The user funds remain with Binance, and we have very strict risk management controls to ensure their security." 5 Does Binance Support Dogecoin and Why Should I Buy It There 5.1 About the Author. "There is no on-chain staking of LTC and DOGE for network validation since these are non-proof-of-stake tokens," a Binance spokesperson said. The project has gained popularity for its cuteness instead of underlying technology. Binance clarified that coins deposited in its recently launched staking program for proof-of-work (PoW) token dogecoin (DOGE) and litecoin (LTC) would remain with the exchange and won't be lent out for generating additional yield. Baby Doge Coin is a 10 week old cryptocurrency on the Binance Smart Chain. The tokens will continue to be tradable on Binance, and users can withdraw them via alternative networks without impacting their balances.Ĭertain bridges are reportedly inaccessible amidst Multichain's turmoil, with allegations that the protocol's co-founder and CEO, Zhao Jun, has vanished and rumors of a possible police investigation. ![]() In the announcement, Binance acknowledged the inconvenience and emphasized that the suspension of support directly results from the protocol's ongoing difficulties.Ī Binance representative explained that temporarily suspending deposit and withdrawal services for the listed tokens is a risk management measure to protect user funds.See also hires ex-sec director in defense of sec lawsuit 3 weeks ago Its important to note that on-chain metrics have not flipped bullish yet. The simplest way to buy Dogecoin is to use a cryptocurrency exchange or platform, such as Binance.US. Trust Wallet is the best ethereum wallet and cryptocurrency wallet to store your favourite BEP2, ERC20 and ERC721, tokens. The exchange launched in China in 2017 and moved its servers and operations to. Once you buy DOGE on an exchange, it is similar to. Binance is the largest cryptocurrency exchange in the world, per CoinMarketCap. DOGE price wiped out losses from June, climbing past 0.07 in July. But many major exchanges, including Binance, the world's largest exchange, do offer support for Dogecoin. This decision affects users who utilize bridged tokens on networks, including BNB Smart Chain, Fantom, ethereum, and avalanche. DOGE price has recovered from the decline and made a comeback above 0.07, as seen on Binance. Binance Markets Limited is not permitted to undertake any regulated activity in the UK, the FCA said, adding, no other entity in the Binance Group holds any form of UK authorisation. Dogecoin witnessed its heaviest shorting of 2023 one week ago. It offers a streamlined alternative to the Binance.US trade screen for those who do not require advanced options. ![]() This news follows the suspension of deposits for various Multichain-bridged tokens on May 25, 2023, due to days of stalled transactions that sparked uncertainty regarding the Multichain protocol. 5 days ago Updated The Buy Crypto feature allows you to easily buy & sell (as well as convert ) cryptocurrencies on the Binance.US platform in just seconds. Binance has announced that it will discontinue deposit and withdrawal support for various Multichain-bridged tokens as of July 7, 2023, until further notice.īinance announced on its blog that the affected tokens are Polkastarter (POLS), Alchemy Pay, SuperVerse (SUPER), and Harvest Finance (FARM) on the BNB Smart Chain Beefy Finance (BIFI) and Alpaca Finance (ALPACA) on the Fantom network (AVA) on Ethereum and Spell Token (SPELL) on the Avalanche C-Chain.
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