Kucoin Recommends the Use of NEO for Withdrawals

Kucoin Recommends the Use of NEO for Withdrawals
The past six months have not been easy for most top cryptocurrencies. With an influx of thousands of new enthusiasts every single week, it is only normal that the existing blockchains are taxed beyond their capabilities as well. We have seen plenty of issues affecting Bitcoin transactions, and the Ethereum network has suffered from congestion as well. It seems both of these blockchains direly need to scale, but it takes time to develop proper solutions in this regard.
These issues do not just affect people looking to spend cryptocurrency for purchases. Nor are they limited to people who invest Bitcoin or Ethereum in altcoins or initial coin offerings. Perhaps the biggest problem is that this congestion prevents users from properly using either Bitcoin or Ethereum to move money between trading platforms. Since they are the two markets with the highest liquidity, it is unsurprising that they are also the most popular solutions in this regard.
Kucoin Recommends the Use of NEO for Withdrawals

Solving these issues will not be easy. There is very little that exchanges and trading platforms can do to alleviate these concerns, especially because they do not control the Bitcoin or Ethereum networks. As a result, their users are getting fed up with delays and often blame the trading service providers for delays. It is unfortunate how things are unfolding, but we will see even more of these issues moving forward, by the look of things.
As a result of these ongoing issues, the Kucoin exchange decided to issue a major announcement regarding Ethereum withdrawals. It touches upon the blockchain’s congested state and how it affects Kucoin deposits and withdrawals. The company recommends that its users switch to a different currency altogether as a way to transfer value across exchanges. Surprisingly, that new currency is not Litecoin, but rather NEO. On paper, NEO and Ethereum are not all that different from one another, and NEO is supported by a fair few trading platforms already.
It is the first time we’ve seen a popular cryptocurrency exchange advise users against relying on Ethereum for withdrawals and deposits. This sets a very interesting precedent, although it is expected that this is a one-time event. The Ethereum developers have been working on major network improvements for some time now. Once those upgrades come to the network, Ethereum congestion may quickly become a thing of the past. At the same time, one never knows how things will unfold.
Some people are not too happy about Kucoin telling its users to rely on NEO for faster withdrawals. It is evident that exchanges should not tell others how to move their money to and from trading platforms. At the same time, one has to commend the exchange for addressing these issues and offering a somewhat reliable solution. Whether or not this will have any impact on the NEO ecosystem remains to be determined. For now, it seems few people have actively made the switch, which is not that surprising.
Kucoin Recommends the Use of NEO for Withdrawals Kucoin Recommends the Use of NEO for Withdrawals Reviewed by mir khaleq ali on 06:32 Rating: 5

5 comments:

  1. Transaction pending status in Gdax
    Is your transaction pending in Gdax? What could be the reasons behind such errors? To avail more information about the Gdax and its queries, you can seek assistance from the nimble executives by dialing the Gdax Support Phone Number 1-888-764-0492 or drop down your queries on email or chat box. They are always at their service and leave no opportunity to aid the users and remove their difficulty. Visit https://www.cryptophonesupport.com/wallet/gdax/

    ReplyDelete
  2. Binance is the best-known digital currency. Facing issues with their Binance account as it is not easy to fix the proper setting of your login Account now you can call Binance support number and get solutions from our expert technicians who provide best possible solutions for your Binance or BCB account. They are available 24*7 hours day and night and also they are friendly in term of hearing your problem. Hence you may call instantly on our provided our service number. The customer executive will provide 100 % guaranteed and accurate remedies to fix it in no time. Binance Support Number

    ReplyDelete
  3. Are you the new customer of Blockchain Technology and want to gain information? In this situation user may contact to Blockchain Support number and put across the issue in front of senior team. The experts are there to resolve the problem and offer the best solution. The customer executive investigate the problem and come out with effective answer. They provide A-rated and easy to implement solutions so that users can easily understand it. Try their customer expert services you will never be disappointed with them. The service is available 24*7. Blockchain Support Number

    ReplyDelete
  4. Transferring the crypto currency in Gemini but it is taking time than usual time. Well, to know the cause behind it, you can talk directly to the elite professionals who are always available to assist users. Just dial Gemini support phone number and get your issues fixed in a jiffy in wrangle-free manner. The professionals put all their energy to give the finest solutions and techniques to fix the users errors. They can fix your issues but to enjoy their unstoppable services you have to contact them. The customer executive team will soon investigate the problem and give the best and workable solution. Gemini Support Number

    ReplyDelete
  5. Network connectivity and transaction fees are one of the errors that leads to take longer time while transferring the crypto currency. So, you can be relax and dial Binance support number anytime and get your issue fixed in fraction of seconds. You will be connected to the professionals who have years of experience in this field and solve all types of errors on regular basis. So, feel easy to approach them at any time from any corner across the globe. This Binance exchange is adaptable for both the new comers and the all time users. The service is available 24*7 Binance Support Number

    ReplyDelete

Powered by Blogger.