Attention cryptocurrency traders! South Korean exchange giant Bithumb has announced a temporary suspension of FLOW deposits and withdrawals starting November 17. This essential maintenance affects all FLOW token holders on the platform. Understanding this Bithumb FLOW suspension helps you prepare and avoid trading disruptions during the network upgrade period.
What Does the Bithumb FLOW Suspension Mean for You?
The Bithumb FLOW suspension begins precisely at 10:00 a.m. UTC on November 17. This temporary halt supports FLOW’s network upgrade, ensuring smoother operations and enhanced security. During this period, you cannot deposit or withdraw FLOW tokens, though trading may continue normally depending on market conditions.
Network upgrades represent crucial improvements to blockchain functionality. They often include:
- •Enhanced security features
- •Improved transaction speeds
- •New protocol capabilities
- •Better network stability
Why Exchanges Like Bithumb Implement Temporary Suspensions
Exchanges schedule maintenance during network upgrades to protect user assets. The Bithumb FLOW suspension follows industry best practices for handling blockchain updates. This proactive approach prevents potential issues like:
- •Transaction failures during upgrade
- •Asset loss from chain splits
- •Compatibility problems with new protocols
Moreover, the timing of this Bithumb FLOW suspension allows the exchange to synchronize with FLOW’s network improvements seamlessly.
How to Prepare for the November 17 Maintenance
Planning ahead minimizes inconvenience during the Bithumb FLOW suspension. Consider these actionable steps before November 17:
- •Complete any urgent FLOW transfers before 10:00 a.m. UTC
- •Monitor official Bithumb announcements for updates
- •Keep track of when services resume
- •Verify transaction status after maintenance concludes
Remember that the Bithumb FLOW suspension affects only deposit and withdrawal functions. You might still trade FLOW against other cryptocurrencies if market liquidity permits.
What Happens After the Bithumb FLOW Suspension?
Following the network upgrade completion, Bithumb will restore FLOW services gradually. The exchange typically announces resumption through official channels. Expect enhanced FLOW network performance and potentially new features after this maintenance period.
This Bithumb FLOW suspension demonstrates the exchange’s commitment to security and technological advancement. Such precautions ultimately benefit all FLOW token holders through improved network reliability.
Frequently Asked Questions
How long will the Bithumb FLOW suspension last?
The exact duration varies, but Bithumb will provide updates through official channels. Typically, such maintenance lasts several hours.
Can I trade FLOW during the suspension?
Trading may continue, but confirm with Bithumb’s announcements. Only deposits and withdrawals are definitely suspended.
Will my FLOW tokens be safe during maintenance?
Yes, your tokens remain secure in Bithumb’s wallets. The suspension protects assets during the network transition.
What happens if I try to deposit FLOW during suspension?
Transactions attempted during maintenance may fail or be delayed. Wait until Bithumb confirms service restoration.
How will I know when services resume?
Monitor Bithumb’s official website, app notifications, and social media channels for restoration announcements.
Why does FLOW need a network upgrade?
Network upgrades improve scalability, security, and functionality, ensuring better performance for all users.