BINANCE USERS GET NEW ETH DEPOSIT ADDRESSES: HERES WHAT TO DO

Heads up, Binance users! Cointelegraph By Prashant Jha The world s largest cryptocurrency exchange by trading volume, Binance, is disabling multiple old deposit addresses as part of its infrastructure upgrade. In an announcement on April 18, Binance said it would retire selected deposit addresses and memos in batches on multiple blockchains, including Ether (ETH), Tron (TRX), BNB (BNB) and Stellar [ ]If you're trading Ether (ETH), you'll want to pay close attention. The change in deposit addresses of multiple blockchains, including that of Ethereum, comes just a day before Binance is set to open ETH withdrawal for users. Millions of Ether are now unlockedBinance, the world's largest cryptocurrency exchange by trading volume, is rolling out new Ethereum deposit addresses as part of a significant infrastructure upgrade. The notification email will include the expiration date for any outdated deposit addresses. When you get a new address, your old deposit addresses will become invalid. In order for users to obtain a new deposit address, they must log in to their Binance account and follow the instructions mentioned in their email notification.This change aims to enhance security and efficiency, but it means your old ETH deposit addresses will eventually become invalid. In an effort to address user feedback and enhance user experience, Binance, the leading cryptocurrency exchange, has unveiled an innovative feature enabling users to obtain multiple deposit addresses for a single network. With the new deposit address book function, managing multiple deposit addresses has become a seamless process.Don't worry; your funds are safe, but depositing to an expired address could cause delays in crediting your account.The exchange is implementing these updates across multiple blockchains beyond just Ethereum including Tron (TRX), BNB (BNB) and Stellar (XLM), so it's a good practice to check all your deposit addresses on the platform.This article breaks down everything you need to know about these changes, including how to obtain your new ETH deposit address, what happens to funds sent to old addresses, and why Binance is making these updates.We'll guide you through the process step-by-step to ensure a smooth transition and help you avoid any potential hiccups in your ETH deposits.This includes information on when these changes will take place and how to ensure you get credited correctly.Stick around to learn more!

Why is Binance Changing ETH Deposit Addresses?

Binance is retiring older deposit addresses across multiple blockchains to improve its overall infrastructure. How to Deposit to Binance? Binance allows users to deposit their funds via Binance P2P, the purchase of crypto with cash, crypto deposits, and bank account deposits. Let s take a look at how each method works. How to deposit via Binance P2P: 1. Access your Binance account, click [Deposit], and select the [P2P Trading] option. 2.This upgrade is designed to provide users with better security and increased efficiency when depositing cryptocurrencies.Think of it like upgrading your home security system – the old system might have worked fine, but the new one offers enhanced protection and features. As such, we re retiring deposit addresses and memos still on the old infrastructure in batches. You'll receive an email if your deposit address and memo are affected. We strongly encourage users to retrieve a new deposit address upon receiving the email. How to obtain a new deposit address? 1.This shift to new deposit addresses means a more robust and secure platform for all Binance users.The move also helps Binance stay ahead of potential security threats and maintain a cutting-edge platform. 2. Select the coin and network; if there is no existing address, you can generate one by clicking the [Get Address] button. 3. If you have an existing address that belongs to [old address], the system will display a notice message informing you of the new address generation.Ultimately, this infrastructure upgrade aims to create a better user experience and increased trust in the platform.

How to Obtain Your New ETH Deposit Address

Getting your new ETH deposit address is a straightforward process, but it's crucial to follow the steps carefully to avoid any issues. Binance users get new ETH deposit addresses: Here s what to do⁣ eth users addresses cryptocurrencyexchangeHere's how to do it:

1. Check Your Email: Binance will send you an email notification if your ETH deposit address is affected by the change. In the official notice, Binance suggests users should click the link from the email to get their new addresses. Users can also obtain new addresses by logging into their Binance accounts on the app or website. Note that once users update their addresses, old addresses will cease to work, and any further deposits will not automatically be credited.This email will contain a direct link to retrieve your new address and will also inform you of the expiration date for your old deposit address. The notification email will include the expiration date for any outdated deposit addresses. When users get a new address, old deposit addresses will become invalid. To obtain a new deposit address, users must log in to their Binance account and follow the instructions mentioned in their email notification.This is the easiest method to retrieve a new address.
2. Log in to Your Binance Account: You can also obtain your new address by logging into your Binance account via the app or website.
3. Navigate to the Deposit Section: Once logged in, go to the ""Deposit"" section of your account.
4. Select Ethereum (ETH) and the Network: Choose ETH as the cryptocurrency you want to deposit.You'll then need to select the correct network (typically Ethereum Mainnet).
5. Generate a New Address (If Needed): If you don't already have a new address, you'll see a ""Get Address"" button.Click this button to generate your unique new ETH deposit address.
6. Review the Notice Message: If you already have an existing address linked to the old infrastructure, the system will display a notice informing you about the new address generation.
7. Copy Your New Address: Binance will display your personal deposit address as a long string, usually starting with ""0x"". The world s largest cryptocurrency exchange by trading volume, Binance, is disabling multiple old deposit addresses as part of its infrastructure upgrade. In an announcement on April 18, Binance said it would retire selected deposit addresses and memos in batches on multiple blockchains, including Ether (ETH), Tron (TRX), BNB (BNB) and Stellar (XLM). The crypto exchange [ ]Make sure to copy the entire address correctly.Also, take advantage of the QR code for mobile ease-of-use.

Important: Always double-check the address before initiating any transfers.Even a minor error can lead to loss of funds.

What Happens to Funds Sent to the Old ETH Deposit Address?

A common concern is what happens if you accidentally send ETH to your old deposit address after it has expired. When the user obtains a new address, the old deposit address will become invalid. To get a new deposit address, users have to log into their Binance account and follow the instructions mentioned in the email notification. The migration is scheduled to take place between April 2025 and June 2025. The cryptocurrency exchange also guarantees thatThe good news is that your funds are safe and not lost. Binance users get new ETH deposit addresses: Here s what to do Binance said retiring old deposit addresses on multiple blockchains was part of its infrastructure upgrade, and new addresses will offer better security and efficiency.However, they won't be automatically credited to your account. Altszn.com provides the latest news, resources and insights on Bitcoin, Ethereum, Solana, DeFi, Web3, NFTs and other cryptocurrency markets.Here's what you need to do:

• Manual Crediting: You can manually credit the deposits made to expired addresses through the Transaction History page.
• Contact Binance Support: If you have any trouble crediting the funds manually, reach out to Binance customer support for assistance.Be prepared to provide transaction details, such as the transaction ID (TxID) and the amount sent.

It's crucial to understand that while funds are recoverable, it's always best to avoid sending them to an expired address in the first place. Old deposit addresses will expire upon obtaining a new address. Funds deposited into expired addresses are safe and will not be lost. Users can manually credit the deposits via the Transaction History page. Do note that deposits made into expired deposit addresses would not be automatically credited. To obtain a new deposit address as well asDouble-check your deposit address every time you initiate a transaction to prevent any unnecessary delays or complications.

When Do the Old ETH Deposit Addresses Expire?

Knowing when your old ETH deposit address expires is critical to avoid depositing funds to an inactive address. Binance said retiring old deposit addresses on multiple blockchains is part of its infrastructure upgrade, with the new addresses offering better security and efficiency. The world s largest cryptocurrency exchange by trading volume, Binance, is disabling multiple old deposit addresses as part of its infrastructure upgrade. In an announcement on April 18, Binance said it would retireBinance provides a clear timeline for address expiration:

• Expiration Upon Obtaining a New Address: Your old deposit address will become invalid as soon as you generate a new one. The world s largest cryptocurrency exchange by trading volume, Binance, is disabling multiple old deposit addresses as part of its infrastructure upgrade.In an announcement on April 18, Binance said it would retire selected deposit addresses and memos in batches on multiple blockchains, including ETherefore, you should update your withdrawal settings and address book immediately.
• 30 Days After Email Notification: If you don't generate a new address right away, your old address will expire 30 days after receiving the email notification from Binance.The notification email will include the specific expiration date for your outdated deposit address.

It's highly recommended to retrieve a new deposit address upon receiving the email to ensure a seamless transition. Binance.US will retire existing deposit addresses for multiple cryptocurrencies across 30 networks and provide new deposit addresses to customers. The deposit address migration will take place on a network-by-network basis over several weeks, beginning May 2025.Setting a reminder on your phone or calendar can help you stay on top of the expiration date.

Security and Efficiency Improvements with New Addresses

The transition to new ETH deposit addresses isn't just about routine maintenance; it's a strategic move to enhance the security and efficiency of the Binance platform.Here's how these new addresses are improving the user experience:

• Enhanced Security: The new infrastructure incorporates the latest security protocols to protect users' funds from potential threats.
• Improved Efficiency: The updated system streamlines the deposit process, potentially leading to faster and more reliable transactions.

Binance is committed to providing a secure and user-friendly platform, and these infrastructure upgrades are a testament to that commitment. Binance users impacted by the deposit blockchain addresses retirement will be notified via email, and the exchange strongly recommends that all impacted users obtain a new address and memo upon receiving the notification. The notification email will include the expiration date for any outdated deposit addresses.By migrating to new deposit addresses, Binance is proactively addressing potential vulnerabilities and ensuring the long-term stability of its services.

How to Update Your Address Book and Withdrawal Settings

Once you've obtained your new ETH deposit address, it's essential to update your address book and withdrawal settings on Binance. See full list on dailycoin.comThis will prevent you from accidentally sending funds to your old, expired address. Binance said retiring old deposit addresses on multiple blockchains was part of its infrastructure upgrade and new addresses will offer better security and efficiencyHere's how to do it:

1. Access Your Address Book: Log in to your Binance account and navigate to the ""Address Book"" or ""Withdrawal Address Management"" section.
2. Edit Existing ETH Address: Find your existing ETH address in the address book and edit it to reflect your new deposit address.
3. Verify the New Address: Double-check that the new address is entered correctly before saving the changes.
4. Update Withdrawal Settings: If you have any automated withdrawals or recurring transfers set up, update the destination address to your new ETH deposit address.

Taking the time to update your address book and withdrawal settings will save you from potential headaches and ensure that your ETH deposits are credited to your account without any delays.

Binance's Phased Rollout of Deposit Address Changes

Binance is implementing these deposit address changes in batches across multiple blockchains. ChainCatcher news, according to monitoring by the Web3 knowledge graph protocol 0xScope, Binance has just updated the user's ETH deposit address to a new TSS address. Users are reminded not to use old deposit addresses or assets may be lost. In addition, according to the page it shared, Binance wrote in the deposit note column that users shouldThis phased rollout allows Binance to manage the transition effectively and minimize any potential disruptions to its users.Here's what you need to know about the rollout process:

• Batch Updates: Binance is retiring old deposit addresses and memos in batches on multiple blockchains, including Ether (ETH), Tron (TRX), BNB (BNB), and Stellar (XLM).
• Email Notifications: You'll receive an email notification if your deposit address is affected by the change.
• Check Regularly: Even if you haven't received an email yet, it's a good idea to regularly check your deposit addresses on Binance to see if any updates are required.

What Other Cryptocurrencies Are Affected?

While this article focuses on ETH, it's important to be aware that Binance is also updating deposit addresses for other cryptocurrencies.As mentioned earlier, this includes Tron (TRX), BNB (BNB), and Stellar (XLM). As part of its infrastructure upgrade, Binance is retiring old deposit addresses. Ensure the security of your assets by following the steps in the email notification. Binance users get new ETHIt's possible that more cryptocurrencies will be added to this list as Binance continues its infrastructure upgrade. Step 4. Copy Address For Deposits. Once you select the network, Binance will display your personal deposit address as a long string starting with 0x along with handy QR code for mobile ease-of-use. You can either send funds to this address manually or utilize the QR functionality. Just be 100% sure it matches EXACTLY prior to initiating transfers.Always confirm all deposit addresses if you are unsure.

To check if your deposit addresses for other cryptocurrencies are affected:

1. Check for Email Notifications: Binance will send email notifications for each cryptocurrency that requires a deposit address update.
2. Log into Your Binance Account: Go to the ""Deposit"" section of your account and check the deposit addresses for each cryptocurrency you hold.

Ensuring a Smooth Transition: Tips and Best Practices

To make the transition to the new ETH deposit addresses as smooth as possible, here are some tips and best practices to follow:

• Act Promptly: As soon as you receive the email notification from Binance, take action and retrieve your new ETH deposit address. Step 2: Select the network to view the full list of deposit addresses. Users may claim a new deposit address, or edit the deposit address book here. Step 3: Select a deposit address and proceed to deposit. Thanks for your support! Binance Team.Don't wait until the last minute, as this could lead to unnecessary stress and potential delays.
• Double-Check Everything: Before initiating any ETH transfers, always double-check the deposit address to ensure that it's correct. In an announcement on April 18, Binance said it would retire selected deposit addresses and memos in batches on multiple blockchains, including Ether (ETH), Tron (TRX), BNB (BNB) and Stellar (XLMEven a single mistake can result in lost funds.
• Update Your Address Book: Update your address book on Binance and any other platforms where you store your ETH deposit address.
• Test with a Small Amount: If you're unsure about the new address, consider sending a small test transaction first to ensure that it's working correctly.
• Stay Informed: Keep an eye on Binance's announcements and updates to stay informed about any further changes or developments related to the deposit address migration.

Understanding TSS Addresses

There have been reports indicating that Binance is updating ETH deposit addresses to new TSS (Threshold Signature Scheme) addresses. Your old deposit addresses will expire if one of the following conditions has been met: Upon obtaining a new deposit address; 30 days after receiving the email notification. Please note that funds deposited into expired addresses are safe and not lost. However, subsequent deposits to expired addresses will not be automatically credited.Let's delve into what TSS addresses are and why Binance might be using them.

What is Threshold Signature Scheme (TSS)?

Threshold Signature Scheme (TSS) is a cryptographic protocol that allows multiple parties to jointly compute a digital signature on a single transaction without any single party having access to the complete private key.In simpler terms, it's like having a key that's split into multiple pieces, and a certain number of those pieces are required to unlock a door.

Benefits of TSS Addresses

• Enhanced Security: TSS enhances security by eliminating single points of failure.If one party's key is compromised, it doesn't jeopardize the entire system.
• Increased Trust: Because no single party controls the entire key, TSS fosters greater trust among participants.

Why Binance Might Be Using TSS Addresses

Binance might be using TSS addresses to further strengthen the security of its platform and protect users' funds.By implementing TSS, Binance can distribute the control of private keys across multiple parties, making it significantly more difficult for hackers to compromise the system.

Addressing Common Concerns and Questions

Let's address some common concerns and questions that Binance users might have regarding the ETH deposit address changes:

What if I accidentally send ETH to my old address after it expires?

Your funds are safe, but they won't be automatically credited. PANews reported on April 14 that according to the monitoring of Web3 knowledge graph protocol 0xScope, Binance has just updated the user's ETH deposit address to a new TSS address. Users are reminded not to use the old deposit address or their assets may be lost.You can manually credit the deposits through the Transaction History page or contact Binance support for assistance.

How long do I have to update my deposit address?

Your old deposit address will expire as soon as you generate a new one, or 30 days after receiving the email notification from Binance.

Are other cryptocurrencies affected by this change?

Yes, Binance is retiring old deposit addresses on multiple blockchains, including Tron (TRX), BNB (BNB), and Stellar (XLM).

Why is Binance making these changes?

Binance is upgrading its infrastructure to enhance security and efficiency for its users.The new addresses offer improved protection and a more streamlined deposit process.

Where can I find more information?

Check your Binance account for email notifications and announcements.You can also visit the Binance Help Center for detailed guides and FAQs.

Alternative Deposit Methods on Binance

While the primary focus is on ETH deposit addresses, Binance offers several alternative methods for depositing funds.This allows users to choose the most convenient and suitable method for their needs.

Binance P2P

Binance P2P (Peer-to-Peer) allows users to buy and sell cryptocurrencies directly with each other.Here's how to deposit via Binance P2P:

1. Access your Binance account, click [Deposit], and select the [P2P Trading] option.
2. Choose your desired cryptocurrency and payment method.
3. Select a suitable offer from the available sellers.
4. Complete the transaction following the on-screen instructions.

Buying Crypto with Cash

Binance allows users to buy cryptocurrencies directly with cash using various payment methods. With Binance users can: Trade hundreds of cryptocurrencies on Spot, Margin, and Futures markets. Buy and sell cryptocurrencies with Binance P2P. Earn interest on your crypto with Binance Earn. Buy or earn new tokens on Binance Launchpool, Airdrop, Megadrop, etc. Trade, stake, and loan NFTs on Binance NFT marketplace. To get started, check outThis can be a convenient option for those who prefer to use fiat currency.

Bank Account Deposits

In some regions, Binance allows users to deposit funds directly from their bank accounts.This method may require additional verification steps.

Staying Up-to-Date with Binance Announcements

The cryptocurrency landscape is constantly evolving, and Binance regularly introduces new features, updates, and changes to its platform.To stay informed and make the most of your Binance experience, it's crucial to stay up-to-date with the latest announcements.

How to Stay Informed

• Check Your Email Regularly: Binance sends important updates and announcements via email, so make sure to check your inbox regularly.
• Follow Binance on Social Media: Binance has a strong presence on social media platforms like Twitter, Facebook, and Telegram.Following them on these platforms will ensure that you don't miss any important news.
• Visit the Binance Blog: The Binance blog is a great resource for in-depth articles, tutorials, and announcements.
• Join the Binance Community: Engage with other Binance users in the Binance community forums and groups.This is a great way to ask questions, share tips, and stay informed about the latest developments.

Conclusion: Staying Secure and Informed

The transition to new ETH deposit addresses on Binance is a necessary step to enhance security and efficiency.By following the steps outlined in this article, you can ensure a smooth transition and avoid any potential issues.Remember to check your email for notifications, retrieve your new address promptly, update your address book, and double-check all transactions before initiating them.The security and efficiency updates provided by Binance are to help ensure the user experience is a positive one.These changes including updates to the new ETH addresses are designed with the user in mind.Stay informed about Binance's announcements and updates to stay ahead of the curve and continue enjoying a safe and seamless cryptocurrency trading experience.Don’t forget that these deposit address updates are not limited to ETH, so check all of your cryptocurrencies on Binance to avoid any future deposit issues.Be proactive and you'll ensure your crypto assets remain safe and accessible.