Important notice from Binance affecting Brazilian users: details

TL;DR

Binance will add two pairs to its Bots program, allowing direct trading against the Brazilian Real. On the other hand, it will delist several trading pairs, with some of the affected cryptocurrencies experiencing a brief drop in price following the disclosure. The next addition

The leading cryptocurrency exchange will add BTC/BRL and USDT/BRL to the list of trading options of Binance Trading Bots services. The new offers will be available to users tomorrow (September 13).

However, Binance revealed that upcoming trading pairs are subject to eligibility based on users’ country or region of residence. For example, customers living in the US, Canada, Iran, the Netherlands, Cuba, Syria and more will not be able to deal with them.

BRL is the symbol for the Brazilian real (the national currency of the South American country). The launch of direct trading pairs between BTC and BRL as well as USDT and BRL makes it easier for local traders to enter and exit the cryptocurrency market by removing the hurdle of converting their funds into other fiat currencies such as dollars from the US, for example.

Earlier this year, Binance introduced a similar effort that benefits Mexican users. Opened trading and enabled local algo order trading bot services for USDT/MXN pair.

Removal and maintenance

In addition to adding new pairs to its platform, Binance regularly removes some existing ones due to factors such as poor liquidity and trading volume. Their next withdrawal effort is scheduled for September 13th, when BAND/TRY, LSK/ETH, NTRN/BTC and PROM/BTC will no longer be available to users.

“Users are advised to upgrade and/or cancel their Spot Trading Bots prior to the termination of Spot Trading Bots services to avoid possible losses,” the company warned.

Prices of some of the affected cryptocurrencies headed south shortly after the September 12 announcement before entering green territory alongside the broader digital asset market the following day.

Binance also maintains wallets for certain networks. One of the latest happened in early September and involved the BNB Smart Chain (BEP20). To support the process, the exchange temporarily suspended deposits and withdrawals on the network while trading was not affected.

In May, Binance performed wallet maintenance for the Ethereum (ETH) network, while three months later, it did so for The Open Network (TON). Similar to the aforementioned initiative, it temporarily halted withdrawals and deposits into the underlying ecosystems, resuming operations once it was all over.

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