Coin suspension - page 2. | Bitcointalksearch.org

Potato Chips

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Quote from: sheenshane on February 20, 2024, 07:34:47 PM

Quote from: Bitcoin_Arena on February 20, 2024, 06:43:11 PM

Quote from: Realgogo on February 20, 2024, 02:59:04 PM

What happens when a coin is suspended?

Trading the coins is disabled
Deposits also get disabled
Sometimes Withdrawals could be disabled but in more cases users are allowed to withdraw the coins to another address or platform

But I think before they suspend this coin they have an announcement right? It seems like there's a specific time of suspension date so that users can withdraw or transfer the coin immediately.

Yes, but not always because there could be unforeseeable scenarios for exchanges like binance. One example would be, whenever SOL goes down lol.

Recently, binance suspended XMR withdrawals without warning, apparently, due to low wallet balance, see: https://twitter.com/DontTraceMeBruh/status/1759680195806544364
Though, I can't comment if this is exactly unforseeable for binance.

Yamane_Keto

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Quote from: Realgogo on February 20, 2024, 02:59:04 PM

What happens when a coin is suspended? How long does it take for binance to release from suspension? Especially from conversion.

Coins are listed on exchanges to be traded, so it is normal for them not to be suspended, this may happen for several reasons, some of which are related to liquidity, technical problems, or even legal problems, but this is supposed to be temporary and be resolved quickly so that trading can resume, if coin is suspended on one exchange, such as binance, the problem will be resolved quickly, but if it continues for more than two or three days without an explanation of the reason, it will most likely be delisted soon.

sheenshane

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Quote from: Bitcoin_Arena on February 20, 2024, 06:43:11 PM

Quote from: Realgogo on February 20, 2024, 02:59:04 PM

What happens when a coin is suspended?

Trading the coins is disabled
Deposits also get disabled
Sometimes Withdrawals could be disabled but in more cases users are allowed to withdraw the coins to another address or platform

But I think before they suspend this coin they have an announcement right? It seems like there's a specific time of suspension date so that users can withdraw or transfer the coin immediately.

Quote from: Bitcoin_Arena on February 20, 2024, 06:43:11 PM

The Announcements by Binance can also be of guide to you.

I tend to agree that when choosing a trusted exchange we must join their announcement channel for awareness.
Because they usually provide updates and information regarding the status of the suspended coin through their official communication channels, such as announcements on their website or social media platforms.

Bitcoin_Arena

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Quote from: Realgogo on February 20, 2024, 02:59:04 PM

What happens when a coin is suspended?

Trading the coins is disabled
Deposits also get disabled
Sometimes Withdrawals could be disabled but in more cases users are allowed to withdraw the coins to another address or platform

Quote from: Realgogo on February 20, 2024, 02:59:04 PM

How long does it take for Binance to release from suspension? Especially from conversion.

Most of the time when the coin is suspended. It's indefinite (delisted) but if it is due to other issues such as technical. The time frame would vary depending on how quick the issue is resolved. The Announcements by Binance can also be of guide to you.

batang_bitcoin

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Quote from: Realgogo on February 20, 2024, 02:59:04 PM

What happens when a coin is suspended? How long does it take for binance to release from suspension?

So as said by the people above, there won't be any activities anymore for those coins that have been suspended by Binance or any exchange. Do you see any coin that has been suspended and you have been holding that coin on Binance?

Quote from: Realgogo on February 20, 2024, 02:59:04 PM

Especially from conversion.

AFAIK, you can't even convert the small amounts into BNB if it is suspended. And that's why if it's allowed to withdraw, you gotta withdraw that and sell it somewhere else or with another exchange.

TravelMug

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Quote from: Realgogo on February 20, 2024, 02:59:04 PM

What happens when a coin is suspended? How long does it take for binance to release from suspension? Especially from conversion.

Well it's going to be obvious if a coin is suspended,

a. no withdrawal
b. no deposit
c. no buying
d. no selling

There could be a lot of reasons why a coin is going to be suspended by let's say Binance. But I speculate that it could be of security reasons, maybe there was a hack that is going on or at least that coin has been compromise. So it might take days or months because Binance will resume everything on that coin.

Davidvictorson

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Quote from: Realgogo on February 20, 2024, 02:59:04 PM

What happens when a coin is suspended? How long does it take for binance to release from suspension? Especially from conversion.

When a coin is suspended, for example on Binance, they stop the buying and selling temporarily. The same thing happens to conversion. Basically, the buy and sell button becomes inactive. The lenght for the suspension to be lifted by Binance will depend on the reason for suspension and how fast the issue is resolved. Some things you may do include, sending a message to their support, visiting their announcement page on their website or their social media.

Oshosondy

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...gambling responsibly. Do not be addicted.

A coin can be suspended on an exchange if the coin developers have some technical issue to solve, an issue that may affect users. Another reason is regulatory issue. There can be some other reasons in a way the exchanges may want to protect their users. The duration of the suspension will differ.

Realgogo

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What happens when a coin is suspended? How long does it take for binance to release from suspension? Especially from conversion.

Topic: Coin suspension - page 2. (Read 254 times)