Dear Users,

Ethereum is moving to proof of stake (PoS) from the proof of work (PoW) chain, This upgrade is expected to take place between September 10-20, 2022.

Before this, The Bellatrix (consensus layer_ upgrade is scheduled for epoch 144896 on the Beacon Chain -- 11:34:47 AM UTC on Sept 6, 2022.

There are chances of a new token to be created during the upgrade, which is not confirmed but we are taking strict steps to ensure the safety of users:


  • Deposit and withdrawals for ETH and ERC-20 tokens are suspended from 6-September-2022 to the time of successful completion of the merge.
  • Trading will remain working as usual, Spot, Quickswap, and futures trading for ETH and ERC-20 tokens are not paused.
  • Fixed deposits and margin trading for ETH and ERC-20 tokens remain unaffected, You can continue investing freely.
  • Bitbns Gift Card sending and receiving feature for the gift cards will continue to work normally.

Please note:

  • Do not deposit ETH and ERC-20 tokens from the time transfers are paused. It will not be considered during any snapshot.
  • Snapshot includes all of your balance in spot, fixed deposits, and futures wallets for ETH and ERC-20 tokens.
  • We will release further announcements related to the resumption of ETH and ERC-20 tokens post Ethereum merge completion.


Upgrade Information (SOURCE):


Please refer to Mainnet Merge Announcement article by Ethereum foundation for full details: https://blog.ethereum.org/2022/08/24/mainnet-merge-announcement.

Onwards and Upwards,
Team Bitbns

The Merge is a two-step process. The first step is a network upgrade, Bellatrix, on the consensus layer triggered by an epoch height. This is followed by the execution layer's transition from proof-of-work to proof-of-stake, Paris, triggered by a specific Total Difficulty threshold called the Terminal Total Difficulty (TTD).

The Merge is a two-step process. The first step is a network upgrade, Bellatrix, on the consensus layer triggered by an epoch height. This is followed by the execution layer's transition from proof-of-work to proof-of-stake, Paris, triggered by a specific Total Difficulty threshold called the Terminal Total Difficulty (TTD).