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Binance Converts Delisted NBS Tokens To USDT For Profitable Transition

Binance-Converts-Delisted-NBS-Tokens-To-USDT-For-Profitable-Transition

Key Points:

Binance is converting delisted New Bitshares (NBS) tokens to USDT on 9/9.
NBS balances in users’ wallets will be replaced with USDT by 12/8. Conversion based on NBS/USDT rate between 9/9 and 12/8.
Detailed NBS/USDT exchange rate info to be revealed after the transition period. Stay informed for a smooth conversion!

Binance has announced the issuance and conversion of delisted New Bitshares (NBS) tokens held by its users.

This transition is set to take place promptly at 08:00 on September 9th, with a snapshot taken to determine the NBS token balances based on users’ Binance Wallet location records.

Following the snapshot, Binance will work diligently to replace the NBS token balances with an equivalent amount of USDT (Tether) by December 8th, 2023, at 23:59 (UTC). This conversion will be carried out using the average NBS/USDT exchange rate between the specified time frame of September 9th, 2023, at 00:00 (UTC) and December 8th, 2023, at 23:59 (UTC). This period aptly termed the “Conversion Period,” aims to ensure a fair and accurate exchange rate for the benefit of users.

To offer transparency and insight into the transition, Binance plans to provide users with comprehensive information about the average NBS/USDT exchange rate during the Conversion Period. This valuable data will be made available at the end of the transition period, allowing users to understand and assess the exchange rate dynamics that influenced the token conversion.

Binance’s commitment to providing its users with a seamless and user-friendly experience remains at the forefront of this initiative. By enabling the conversion of delisted NBS tokens to the stable and widely used USDT, Binance aims to offer enhanced utility and value to its users while facilitating their participation in the ever-evolving cryptocurrency landscape.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.