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Binance helps Users to avoid transaction mistakes

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INDIA

Sep, 17 2020

Sep, 17 2020

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Binance, the biggest crypto trade on the planet, has quite recently rolled out the centralized-AMM pool Binance Liquid Swap. The new trading feature accessible on Binance.com will permit token group and instantly users can receive liquidity and profits. Once the user stores funds into the liquidity pools they start to get interest on exchange fees by transactions taken place through the funds available in Binance liquid swap. Binance is one of the largest giants in ICO security tokensdeveloped by Changpeng Zhao. At Binance, users can trade a wide range of crypto and ICO listings. Binance supports the majority of commonly traded digital currencies like Bitcoin, Ether, XRP and Tether. They have their own tokens called as Binance coins. Bitcoin exploded the crypto scene in 2017 and since then it has never looked back.

Apart from that, security crypto trader Binance recently introduced a neoteric feature intended to keep individuals from losing their money by sending crypto assets to smart contract addresses.The newly added feature is essentially a concluding confirmation on the outgoing address for withdrawing user tokens. On the off chance that the user has entered a token’s precise contract address to send out tokens, instead of entering the personal wallet address, then the user will get an error message. Smart Contract addresses of tokens have been impacted by this new change on Binance. The philosophy of Binance is to promote the sadvanc ement of Blockchain technology and the exchange also focuses on making things easy for users along with providing investment education programs.

The plan of adding this new feature has been in the pipeline for a long time. Binance observed that numerous users had wrongly sent crypto tokens to the smart contract addresses in place of their own address. This affected the users badly. Binance had to refund those users who had inadvertently sent BNB to smart contract addresses at the time of the mainnet swapping. These users were refunded as soon as the mainnet was switched.In a recent inadvertent transaction, a user wrongly sent above$1million to a Swerve Finance contract address.


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