Coinhako will be performing an initial mainnet swap on Monday, May 6th to convert the ERC20 BNB to the newly launched Binance Chain.
If your BNB is already stored in your Coinhako wallet, no further action is needed on your part.
If your BNB is stored in another wallet, it must be sent to Coinhako by 11:59 PM, May 5th to be eligible for the swap next week.
In the event that you are unable to deposit the ERC20 BNB before May 5th, it may be deposited after May 5th as well. BNB deposited after May 5th will be converted to mainnet BNB at midnight every day.
What happens after the swap:
- Effective Monday, May 6th, all BNB withdrawals will be processed on the Binance Mainnet. You will no longer be able to withdraw ERC20 BNB.
- Effective Monday, May 6th, users will be able to generate their Binance Mainnet deposit addresses and deposit mainnet BNB into their Coinhako accounts.
Upcoming Token Swaps: Binance Chain
Binance Coin (BNB) is a digital token issued by the cryptocurrency exchange, Binance. Binance Coin (BNB) runs on the Binance Chain and has a variety of use cases, such as:
- Payment for various items.
- Run Smart Contracts on the Binance Chain.
- Native coin of the Binance decentralised exchange (DEX).
BNB to SGD
If you're looking to convert BNB (Binance Coin) to SGD (Singapore Dollar), you're likely interested in the current exchange rates and methods available for this conversion. BNB is one of the prominent cryptocurrencies, and SGD is the official currency of Singapore, so understanding the value of BNB in SGD can be crucial for various financial transactions.
To get the most up-to-date BNB to SGD conversion rates, you can turn to cryptocurrency exchange platforms or financial websites that provide real-time data. These platforms allow you to track the live value of BNB in SGD and execute exchanges as needed.
When engaging in BNB to SGD conversions, it's essential to consider any associated transaction fees and exchange rate fluctuations, which can affect the final SGD amount you receive. Additionally, keep an eye on the BNB market's volatility, as it can lead to price variations over time.
FAQs about BNB to SGD
What does the BNB to SGD rate mean?
The Binance Coin to SGD rate tells you how much Singapore Dollar is needed to buy 5 BNB. You can click here to follow the real-time BNB to SGD rates and use the interactive charts historical price data to improve your technical analysis of this trading pair
How to convert BNB for SGD?
You can convert Binance Coin to Singapore Dollar by selling BNB for SGD on Coinhako.
What was the best rate for BNB to SGD?
To date, BNB's peak was on 7 November 2021 where it hit approximately SGD 895 (USD 668), meaning 1 BNB was worth SGD 895. This means the BNB to SGD rate was 1:895.
Disclaimer: All writers’ opinions are their own and do not constitute financial advice. As a company, we do our best to provide information that is accurate and valuable. The contents of this blog post are intended for educational purposes only. Individuals are advised to perform due diligence before purchasing any cryptocurrencies as these assets are subject to high volatility, and understand the risks associated with trading cryptocurrencies.
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