Amid one of the best bull run in recent months new has come out that Binance, the world’s largest crypto exchange is suspending deposit and withdrawal services via bank transfers and card payments for UK customers. This announcment comes after its local banking partner stopped providing support for transactions in British pounds.
Paysafe their local banking partner, said it would stop providing one of its products to Binance’s customers in the UK, citing local regulators. Paysafe didn’t say whether it would drop support for other crypto companies as well. They said they would halt its services from May 22, impacting all Binance customers. how ever transfers for new users were stopped on Monday.
Binance is working to ensure that affected users are still able to access their GBP balances. At this point, these changes will affects less than 1 percent of Binance users. Being that we are in a short term bull run this new is being over shadowed. I think that we need to remember we are still in tough economic times with the largest bank failures in recent history, regulation weighs on the entire market, and there is plenty of uncertainty around the Federal Reserve. I don't want to say don't make money while crypto is pumping, but remember to be strategic and don't get caught up in FOMO.
I want people to learn from my mistakes. I know there are a lot of people out that that will tell you what to do with your money, but I am not one of those people. Everyone needs to come up with their own trading strategy.
The only piece of advice I'm willing to give right now is don't listen to Jim Cramer. This fool told you to sell your Bitcoin just before this pump...