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Conclusion: Binance remains an important contact point for trading with IOTAīinance has recently had to cancel some offers in Germany, probably due to pressure from regulators. After another ten days of waiting, however, everything is now – as far as is known – okay for Binance customers using IOTA. The problem was known, but a date for the solution was not, Binance said. The situation was met with incomprehension and indignation when Binance was still unable to support payouts in IOTA. According to its own information, Binance stores IOTA assets on Ledger hardware wallets and therefore had to put payouts in IOTA on hold as well. Frustration had built up in the good three months of waiting for this, as balances in IOTA 1.5 were effectively frozen on Ledger hardware wallets and could not be used or sold.īut even when the IOTA Foundation solved the technological problems in the interaction with Ledger hardware wallets, Binance customers continued to look down the tube.

#Binance withdraw iota reddit how to

It wasn’t until early August that the promised solution came on how to make the Ledger Nano S or Ledger Nano X compatible with IOTA again and migrate older balances to IOTA 1.5 levels.

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Customers therefore braced themselves for not having to worry about anything technologically at Binance when it came to IOTA.īut then IOTA did not deliver a way to link IOTA 1.5 with Ledger’s popular and widely used hardware wallets in time for the Chrysalis upgrade as promised. Binance, as the world’s main trading venue for IOTA, had announced in advance that it was going along with the move to IOTA 1.5 (Chrysalis). This major technological upgrade made it necessary to transfer balances in IOTA to the new Tanglenet through a migration process. After all, the back story is not a glorious one for either IOTA or Binance.įlashback: On April 28, 2021, IOTA 1.5 was launched. When the long-awaited news made the rounds on Reddit, it was met with enthusiasm. Since yesterday, Monday, they can withdraw IOTA again and then store it on the official IOTA wallet Firefly or on a hardware wallet Ledger Nano S or Nano X. The months-long suspension of deposits and withdrawals in IOTA at Binance has come to an end.īinance customers who have invested in IOTA are relieved.

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r/CryptoCurrency.IOTA investors can finally access full service again at leading crypto exchange Binance. Posts that are not related to IOTA can be made elsewhere, e.g. This includes, but is not limited to, no: personal attacks, threats of violence, slurs, trolling, profanity, posting people's private information (doxxing).

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No buying/selling of iotas on Reddit (only trust the listed market exchanges) scammers may try to scam you! Report any scammers to mods here. Related Subreddits: r/IOTA / r/IOTAsupport / r/iotaTipBot / r/IOTAmemes / r/CryptoCurrency / r/CryptoCurrencies Rulesįor discussion of non-market-related IOTA topics, visit r/IOTA. Supply & Units: i./lsq4610.jpeg / i./Y6zOB5G.jpg IEN Application: goo.gl/forms/OrrXmhu1rKfy2dgp2 InformationĮcosystem Fund: /iota-ecosystem-fund-2-millionĪMA: r/Iota/comments/6hugtq/ask_us_anything IOTA is focused on being useful for the emerging machine-to-machine (m2m) economy of the Internet-of-Things (IoT), data integrity, micro-/nano- payments, and other applications where a scalable decentralized system is warranted. Further, unlike blockchain architecture, IOTA has no separation between users and validators (miners / stakers) rather, validation is an intrinsic property of using the ledger, thus avoiding centralization. Scaling limitations have been removed, since throughput grows in conjunction with activity the more activity, the more transactions can be processed & the faster the network. IOTA uniquely offers zero-fee transactions & no fixed limit on how many transactions can be confirmed per second. The IOTA Tangle is a quantum-resistant Directed Acyclic Graph (DAG), whose digital currency ' iota' has a fixed money supply with zero inflationary cost.

IOTA is an open-source distributed ledger protocol launched in 2015 that goes 'beyond blockchain' through its core invention of the blockless ‘Tangle’. For discussion of non-market-related IOTA topics, visit r/IOTA

Please focus discussion on IOTA investment, trading, and market-related activity.