What to expect during the upcoming Ethereum Merge

By Press Team

Find out how your account will be protected

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What to expect during the upcoming Ethereum Merge Photo: Ira Lichi / Shutterstock
                                

Dear clients,

Currency.com will be supporting “The Merge” — the joining of the existing execution layer of Ethereum from its current Ethereum Mainnet with the Beacon Chain. The Merge, which is scheduled to take place on September 15, 2022, will mark the end of proof-of-work for Ethereum and the full transition to proof-of-stake.

You will not need to do anything before The Merge, and your funds and account will remain protected throughout. 

During The Merge, we will briefly pause new Ethereum (ETH) and ERC-20 token deposits and withdrawals as a precautionary measure. We will closely monitor the situation and resume deposits and withdrawals once The Merge proves to be stable. Any funds accounted by you on your account will still be accessible after the Merge and no action is required on your part. We do not expect any other networks or tokens to be impacted. 

In the case forked tokens appear as a result of The Merge, we will evaluate the support for distribution and withdrawal of these tokens. In order to protect our clients, all forked tokens will go through the same strict listing review process we adopt for any other token.

As we approach The Merge of Ethereum Mainnet, you should be on high alert for scams trying to take advantage of users during this transition. Do not send your ETH tokens anywhere in an attempt to "upgrade to ETH2" or by a similar request. There is nothing more you need to do for your funds to remain safe.

Thank you for your understanding. For further information on The Merge, please visit the Ethereum site or refer to the FAQ below. 

We will provide further updates as they become available. If you have any questions in the meantime, please contact us

FAQ

What is The Merge

The Merge refers to a singular event where the current Ethereum Mainnet will merge with the Beacon Chain proof-of-stake system.

What is the significance of The Merge?

The Merge will mark the end of proof-of-work for Ethereum, and the full transition to proof-of-stake. This sets the stage for future scaling upgrades including sharding, and will reduce Ethereum's energy consumption by ~99.95%.

Will my Currency.com account and/or funds be affected by The Merge?

Your funds/account on Currency.com will not be affected.  

What should I do if I have ETH or ERC-20 tokens?

Clients who have ETH and ERC-20 tokens may experience temporary delays in executing time of withdrawal transactions in the first few hours of The Merge. We recommend initiating any withdrawals or deposits before 15 September 2022, or after The Merge completes.

Can I continue to trade and invest as normal during The Merge?

Yes, you can continue to trade and invest as normal during The Merge.

Will Currency.com support new tokens that may result after the Merge?

In the case of appearance of new forked tokens, we will evaluate the support for distribution and withdrawal of the forked tokens. In order to protect our clients, all forked tokens will go through the same strict listing review process we adopt for any other token.

Do I need to do anything to protect my funds/account before The Merge?

You will not need to do anything to protect your funds or wallet before The Merge. Any funds accounted by you on your account will still be accessible. No action is required on your part.

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
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