Bitpanda supports The Merge, Ethereum transition to Proof-of-Stake

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blog.bitpanda.com

Bitpanda is closely monitoring The Merge which is expected to take place in Q3/Q4 2022. This event is the start of a series of upgrades to Ethereum, making it more secure, environmentally friendly and setting the stage for faster and cheaper transactions in the future. This is the largest infrastructure upgrade in crypto to date, and we’re proud to support this event. A few things to note:

You will not need to do anything to protect your funds or wallet before The Merge. We support the upgrade to PoS and that means your funds are safe with us. Be careful - there are a lot of scams going around offering an ETH2 token. There is no ETH2 token and if you hold ETH on Bitpanda, you don’t need to do anything to prepare for The Merge. Withdrawals and deposits on the Ethereum network will be suspended a few hours before The Merge to ensure safety of funds. Once we’ve verified the PoS network is safe to use, we will enable deposits and withdrawals again. Any support for forked assets on the PoW chain will be evaluated with our regular asset listing process.

Thanks for your understanding and support.

Team Bitpanda

Disclaimer The information shared in this article does not constitute investment advice. Investing in financial instruments carries risks. Conduct your own research before concluding a transaction.