Bitcoin Exchange Upbit Announces Support for Blast (BLAST) Trading
Digital asset exchange Upbit has recently revealed that it will now be supporting the trading of Blast (BLAST) on its platform. Users will have the option to trade BLAST against the Korean won (KRW), Bitcoin (BTC), and Tether (USDT).
The schedule for deposit and trading support for Blast may vary based on the token’s launch status. Transactions involving Blast will be facilitated through the Blast L2 network.
When it comes to deposit support, all BLAST deposits, regardless of their amounts, will be subject to travel rule verification until the reference price is recorded on CoinMarketCap or Upbit initiates BLAST trading support. It is advisable for users to ensure that the network is verified before depositing their digital assets to avoid any processing issues.
Once trading support begins, there may be a temporary restriction on buy orders for approximately five minutes. Deposits made via unlisted virtual asset service providers will require separate deposit reflection reviews, potentially leading to delays. Also, deposits and withdrawals can only be processed through personal wallet addresses that have been verified to belong to the user.
For high-value deposits from unspecified sources, users may be required to provide proof of the source of funds.
In terms of Blast itself, it is a Layer 2 blockchain developed to address the limitations of rollups. It offers local yield and rewards for on-chain activities, similar to staking. The governance token, BLAST, plays a crucial role in protocol decision-making processes.
Please note that this information should not be considered as investment advice.
Overall, Upbit’s decision to support Blast trading provides an opportunity for users to engage with this promising digital asset and take advantage of its unique features on the exchange platform.