Cryptocurrency exchange Binance has informed its clients that it intends to perform an update to Binance Options in order to improve the overall performance and stability of the system.
The scheduled update will take place on May 16, 2024, at 09:00 (UTC).
The update is expected to take only 5 minutes. However, Binance asks users to consider that the duration of the update is based on rough estimates, so the actual time may differ from the time indicated.
Binance Options allows traders to trade options with a simple interface and flexible terms. With short expiration times, a variety of assets, and low fees, traders can react quickly to market changes and use options to effectively hedge risk.
The Binance Options system upgrade will include:
- Enhancing overall system performance;
- Improving the stability of the system.
The company said that at the time of the update, users interacting with Binance APIs will encounter an "Invalid API-key, IP, or permissions for action" error when attempting to request eAPI endpoints.
Universal transfers between Binance Spot and Binance Options will also be temporarily suspended during this time.
According to Binance, the system update will not affect option trading.
Update details:
- The actual time may differ from the stated time.
- After the update, all features will automatically resume without prior notice.
- Users are advised to update the Binance app to the latest version after the system update.
Binance is the largest cryptocurrency exchange in the world, providing users with a wide range of financial services. The reason for its success is its unique combination of a technological platform with additional options, such as passive investment opportunities, proprietary tokens, etc.
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