Should I leave my ADA on Binance on June 30 - July 3?

English General Discussions
1

Hi - During Shelley release event on June 30, should I leave my ADA on Binance wallet or should I move them back to Yoroi ? would I be able to buy/sell ADA on Binance during this time ?

Thanks

2
  1. 30 June is marked for codebase release candidate, not network upgrade
  2. Network upgrade will be via fork on July 29th
  3. You would want to keep your funds in Yoroi wallets (which can also be opened in Daedalus Mainnet) to ensure you’re not depending on exchange , and dont have any tasks to do - but that’s up to your preferences.
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3

In your experience, Will the exchange freeze ADA balance on 30 June (codebase release) ? or this would happen on 29 July ? I guess they will send a notification to everyone to inform in advance

Thanks

4

30 June does not have any network activity, there is no impact of code being developed to a running network.
Also, there is no freeze. Its simply an upgrade fork, current ADA wallets will continue to be valid post the fork - and post 29th July you will have an option to import Byron wallets for staking.

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5

Last time Cardano made a snapshot, Binance blocked mouvements 4 days prior the snapshot date, for an unknown reason. So that you know.

We are not in the same situation now, but the rule is : leave on a exchange what you actively trade. No more, no less.

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6

Thanks mate for the information.
Do we know the exact snapshot yet ?

7

As rdlrt mentioned, there is no such things planned for now. I was just mentioning something you might want to know regarding exchanges behavior in general.

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8

Hello good morning, Well, I tell you that in Binance the price of the currency is at 11:27 am at 0.07972 and I do not understand why G1min.
I went into shopping yesterday thinking about the event will help raise the currency.

What if I take the precaution of taking my holdeo coins out of my wallet.

9

Hi Maritza (@FREYAccs)

Personally I view a wallet as a safer place than that of an exchange to store crypto.

And also take in to account the arbitrage, different price listing across exchanges.

Remember the cardinal rule, never put in more than what your prepared to lose.

Hope your OK my friend :vulcan_salute: