KuCoin to start and complete the Bytom (BTM) MainNet Token Swap

News Jun 22, 2018 at 5:27 PM KuCoin has announced today that they will automatically start and complete the Bytom (BTM) MainNet token swap for BTM holders. The cryptocurrency exchange also said that they will temporarily suspend deposits and withdrawals for Bytom. Temporary suspension will occur at 16:00:00, June 26th, 2018 (UTC+8). This will ensure that the release of the BTM MainNet happens smoothly and the swap also proceeds without a hitch. KuCoin recently enabled the withdrawal and deposits of the Electroneum (ETN) tokens which had been withheld. They had closed ETN deposits and withdrawals for over 2-3 weeks because their wallet was overloaded from the heavy demand. The digital asset exchange added that Electroneum Wallet upgrade had been completed and is working normally now. The multi-currency exchange platform is based in Hong Kong and provides a secure and transparent way to conduct cryptocurrency transactions. Its users will further benefit from the meagre transaction fees that the exchange charges its crypto investors. The crypto exchange has also offered its support to several MainNet token swaps other than Bytom. VeChainThor (VET), Vechain (VEN) MainNet swap also is being supported by KuCoin, according to their announcement. The exchange has also extended its support to Nuls (NULS) MainNet Swap recently. They have announced that all holders of the Nuls (NULS) token will be assisted in completing the token swap process. Along with KuCoin, Gate.io, OKEx, and BiBox have also extended their support to the BTM Mainnet Coin Swap. Bytom is a Blockchain project aiming to bring several kind of assets into one Blockchain. They aim to do this by getting the off-chain assets, onchain. Bytom announced the launch of the Mainnet token swap, called Bytom Mainnet ‘Intelligent’ 1.0.0 version, on 24th of May. They welcomed developers from the community come collaborate in the construction of the Bytom ecosystem. KuCoin, in its announcement has also included some advice to Bytom holders. It says that BTM’s original ERC20 deposit address will become invalid during and after the swap. Any deposits made to this address during this time will be lost. The user’s BTM asset will be securely swapped to the BTM MainNet after the swap. A new MainNet token deposit address will be generated for each user which should be used after withdrawals and deposits are reopened. They also suggest that the users deposit their asset on KuCoin before closure of services. The exchange will automatically swap the users’ MainNet tokens. Image via shutterstock Join our telegram group.