Binance Cryptocurrency Exchange Opens NANO Deposits & Withdrawals Again

There is a good news for the owners of NANO (XRB) token. Binance, one of the biggest cryptocurrency exchanges in the world is opening up its door to NANO deposits and withdrawal again. After a constantly decline in asset prices since January, this news has finally enabled NANO (XRB) to be on the greener side of the index finally.

We’re excited to announce $NANO deposits and withdrawals on @binance are open again. Big thanks to @cz_binance and the Binance team for their cooperation and working alongside us to improve Nano.

— Nano (@nano) April 26, 2018

On April 26th, 2018 Nano released an official statement tweeting: “We’re excited to announce $NANO deposits and withdrawals on @binance are open again. Big thanks to @cz_binance and the Binance team for their cooperation and working alongside us to improve Nano.”

The exact effect of this is, however, yet to be seen and will be more stable when the market normalizes after a couple of months. Currently XRB holds only 0.34% of market share in Binance, however, they are here hoping to be a more significant part of the exchange in the future.

Nano (XRB), formerly known as RaiBlocks, is a cryptocurrency that aims to make a payment between two entities as fast, seamless and as secure as possible. Nano’s benefits include unlimited scalability (something that Bitcoin has struggled with severely) and instant transactions without fees. These factors have made people all over the world sit up and take notice, and with over 4 million transactions completed to date, the project is growing at a rapid rate.

.Now NANO trades at $7.14, has a market cap of $984,306,445 USD, a sign it is on for a bull run. They are hoping to break the $10 USD ceiling very soon if things keep going right.

NANO had been in news earlier this month when $150 million worth of XRB tokens had been stolen from Italian cryptocurrency exchange BitGrail. BitGrail and Nano both blame each other for the hack. Some users are left asking what happened:

If you're referring to @BitGrail it was misinterpreted, it was only a software bug on the exchange that allowed random users to withdraw more funds than they actually owned. No need to FUD though, because it's over and the market has moved on.

— The Nano Wizard (@TheNanoWizard) April 26, 2018

This incident had started to raise questions about the security of the platform. Users have further problems with Nano’s 1 XRB withdrawal fees.