Latest NewsCoinbase will be locked during ETH Merge!

Coinbase will be locked during ETH Merge!

Coinbase will be locked during ETH Merge so transfer your coins before if you want to sell. If you plan to sell the merge you want your coins on the exchanges at least a few days before the merge date. I think you want your coins on the exchange by September 10th or September 12th. 

Coinbase has announced that during the Ethereum merge they will not allow deposits or withdrawals of eth. So if you wait until the merge to try to transfer your assets onto Coinbase to sell you will not be able to do that and you will be left holding the bag after the merge.

Now you can say well I can just sell it to Kraken or I can just sell it to Binance but there’s no guarantee that Kraken or Binance won’t do the same thing, especially if cranking and Binance want things to go smoothly. 

Remember these exchanges are going to be pretty careful about what they do during the Ethereum merge. It is a big event and they don’t want to screw the event up. So I do think Kraken and Gemini and all those other exchanges could definitely freeze Ethereum withdrawals and deposits.

Now you can still trade eth on the exchanges during that time on the centralized trading services, but if you have eth assets that you want to sell before the merge you will want it on the exchange well before the merge. Do not wait till the final day or so to get on the exchange. My guess is there’s going to be a big line of people that want to deposit so they could have server issues as well, because if everyone wants to sell the merge.

So Coinbase is going to be down for deposits and withdrawals on eth on merge day so you want your coins on Coinbase or other exchanges before the merge date. Because I think a lot of people that don’t take it seriously and are going to get trapped and they’re going to ask a lot of YouTubers why can’t I deposit my Ethereum on Coinbase or Kraken or Binance to sell and it’s because you know a lot of these exchanges will probably lock deposits and withdrawals during the merge.

Now they will probably open up afterward assuming that there are no problems and but the thing is if there is a problem and you’re locked out of the deposit and you’re locked out of depositing on one of these exchanges you will not be able to convert into fiat and the problem will probably cause the coin to drop massively and you will be left holding the bag.

Related: How Ethereum 2.0 is extremely CENTRALIZED

So if you plan to sell the merge and you don’t want to be left holding the bag which I think is probably a pretty good decision overall I do think you want Ethereum on the exchange let’s just say four days four or five days before the anticipated merge which would be around the 10th the 11th. So hopefully you can find your time to do that hopefully, you read this article before that time.

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