Get Ready To Trade: Binance to Convert NBS Tokens to USDT!

• Binance has announced that it will convert all New Bitshares (NBS) token balances in users’ wallets to USDT by December 8, 2023.
• The conversion will be based on users’ NBS holdings in their Binance wallets at the snapshot time of September 9, 2023.
• Users should expect to receive the Tether (USDT) equivalent of their remaining NBS tokens by December 0, 2023.

Binance to Convert All New Bitshares (NBS) Token Balances

Binance , the biggest cryptocurrency exchange in the world, has indicated that it will convert all New Bitshares (NBS) token balances in users’ wallets to USDT by December 8, 2023. The conversion will be carried out using the average NBS/USDT exchange rate between September 9 and December 8, 2023, and will be based on users’ NBS holdings in their Binance wallets at the snapshot time of September 9, 2023.

Delisted Tokens

The announcement of converting the NBS tokens to USDT comes almost a year after the exchange delisted District0x (DNT), New Bitshares (NBS), Bitcoin Gold (BTG), and Token Club (TCT) on October 24, 2022. In the previous announcement, Binance had stated that deposits of these tokens will not be credited to users’ accounts after October 2022-10-25 00:00 (UTC). Users were supposed to commence withdrawing the delisted tokens and the withdrawals were to continue to be supported until January 25, 2023, at 00:00 (UTC).

What Users Should Expect

According to the announcement made by Binance, users who hold New Bitshares (NBS) tokens in any of their Binance wallets will receive an email notification by August 25th 23:59 UTC. The users can then continue withdrawing their New Bitshares (NBS) tokens from Binance until September 9th 00:00 UTC subject to network conditions and availability. After this date they won’t be able to withdraw or transfer their NBS token into any external wallets anymore.

Conversion Completion Date

The users should expect to receive the Tether (USDT) equivalent of their remaining NBS tokens by December 0th which is when conversion is scheduled for completion.

Conclusion

In conclusion ,Binance’s decision for converting all New Bitshare’s(NBS )token balance into USDT before end of year is a great step forward towards ensuring that only high quality standards are met .

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