Binance Announces ETH2.0 Pledge Withdrawal Update: Users Can Now Convert BETH Holdings into ETH

04/13/2023 06:35 • Crypto & Markets • 64 views

On April 13th, according to official news, Binance released an ETH2.0 pledge withdrawal update. Users can redeem their BETH holdings into ETH in a 1:1 ratio starting from 16:00 on Binance’s ETH2.0 pledge page on April 19th.

Binance has released an ETH2.0 pledge withdrawal update, and users can apply for withdrawal from 16:00 on April 19th

If you’re a user on Binance’s ETH2.0 pledge page, then you’ll be pleased to hear about the newest update: Users can now redeem their BETH holdings into ETH in a 1:1 ratio starting from 16:00 on Binance’s ETH2.0 pledge page on April 19th. Here’s what you ought to know.

What is Binance’s ETH2.0 pledge page?

Before we get into the update, let’s provide some context first. Binance’s ETH2.0 pledge page is where Binance users can pledge the ETH they own to support the development of ETH2.0. In exchange for this pledge, users receive BETH–a token issued by Binance that represents their ETH2.0 pledge.

Why is BETH Important?

So why are people getting excited about BETH? Simply put, BETH is a valuable commodity. It represents users’ contributions towards ETH2.0 and can be used in different ways. For example, you can use BETH to earn rewards on Binance’s Staking products. Plus, with Binance’s latest update, you can now convert it back to ETH at a 1:1 ratio.

How to Convert BETH to ETH

So now that you know what BETH is and why it’s important, how do you convert it back to ETH? Thankfully, it’s a straightforward process. Starting from 16:00 on April 19th, users can head to Binance’s ETH2.0 pledge page and click on the “Redeem” button. From there, users can convert their BETH holdings into ETH at a 1:1 ratio.

Final Thoughts

Overall, this update by Binance is great news for ETH2.0 enthusiasts who want to pledge their ETH to the cause. It provides an easy way to withdraw and convert BETH holdings into ETH, making it a more flexible and valuable asset to hold.

FAQs

1. Can I redeem my BETH holdings into any other cryptocurrencies, or just ETH?
Currently, Binance is only allowing users to redeem BETH holdings into ETH.
2. What is the deadline for redeeming my BETH holdings into ETH?
There is no deadline for redeeming your BETH holdings at this time.
3. Are there any fees associated with redeeming my BETH holdings into ETH?
Yes, there is a small fee for converting BETH to ETH. It is currently set at 0.5% of the total amount redeemed.

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