Coinbase Announces Upgrade of XTZ, ATOM, SOL, and ADA Pledge Service Plans

03/24/2023 06:57 • AI & Tech Insights • 72 views

According to reports, according to an official announcement, Coinbase released an update on the upgrade of XTZ, ATOM, SOL, and ADA pledge service plans on March 10th. Between March 24th and March 28th, customers will see their XTZ, ATOM, SOL, and ADA balances transferred to “revenue balances,” which represents pledged funds. Until the upgrade is completed on March 29th, customers will temporarily be unable to cancel the pledge of these assets or pledge more funds. After the upgrade is completed, the pledge and pledge cancellation will be restored. During the upgrade process, users will continue to receive rewards, and payment will resume after the upgrade period ends.

Coinbase will upgrade its XTZ, ATOM, SOL, and ADA pledge services from March 24th to 29th

Coinbase is a popular cryptocurrency exchange platform that has been providing a range of services to its customers for several years. The exchange recently released an update on the upgrade of XTZ, ATOM, SOL, and ADA pledge service plans on March 10th. According to the official announcement from the exchange, there are some major changes that customers need to be aware of.

Why the Upgrade is Necessary

Coinbase has implemented this upgrade to enhance the security features of the platform and provide better user experience. The upgrade will help to ensure the safety of the pledged funds and ensure that the platform remains secure against any potential threats.

What Customers Need to Know

Between March 24th and March 28th, customers will see their XTZ, ATOM, SOL, and ADA balances transferred to “revenue balances,” which represents pledged funds. During this period, customers will temporarily be unable to cancel the pledge of these assets or pledge more funds.
After the upgrade is completed on March 29th, the pledge and pledge cancellation will be restored. Meanwhile, users will continue to receive rewards, and payment will resume after the upgrade period ends.

How Customers Will Be Affected

Customers who hold XTZ, ATOM, SOL, and ADA on Coinbase need to be aware of this upgrade and how it will affect them. During the upgrade process, users will still receive rewards, and all payouts will resume once the upgrade is complete.
However, customers will not be able to cancel the pledge of these assets or pledge more funds during the upgrade period. Therefore, customers who need to access these funds should do so before the upgrade begins to avoid any inconvenience.

Conclusion

The upgrade of XTZ, ATOM, SOL, and ADA pledge service plans on Coinbase is an important step towards enhancing security and improving user experience on the platform. Customers should be aware of the changes and take appropriate action to avoid any inconvenience during the upgrade period.

FAQs

Q1. Can I cancel the pledge of my assets during the upgrade process?
A1. No, customers will not be able to cancel the pledge of these assets or pledge more funds during the upgrade period.
Q2. Will I still receive rewards during the upgrade period?
A2. Yes, customers will continue to receive rewards during the upgrade period, and all payouts will resume once the upgrade is complete.
Q3. When will the upgrade be completed?
A3. The upgrade is expected to be completed on March 29th.

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