Ethereum Merge: What Should You Do With Your ETH?

Only a week or two and then it’s finally time. The long-awaited Ethereum (ETH) merge will be launched and this will have major consequences for the functioning of the network. Because it is such a major update, many investors will be wondering what to do with their ETH tokens. This article will explain this.

ETH after the merge

The Ethereum merge will cause the network to no longer run on a proof of work (PoW) consensus model, but switches to proof of stake. That means it mine of ETH tokens will become a thing of the past and therefore also that the issuance of new ethereum tokens will be completely overhauled.

The network may even deflationary become. That means that the total amount of ether tokens in circulation will shrink every year. This is of course very interesting for investors based on the law of supply and demand.

But what should investors who currently own ether tokens, for example on an exchange, pay attention to? Fortunately, they don’t have to do much, but there are a few details that can be important.

Ether withdrawals on exchanges

For example, several exchanges, including Binancealready announced that they will temporarily stop recording ether and all ERC-20 tokens during the rollout of the merge.

This will take place a number of times on Binance in the near future. First on August 31 at 08:30 and then on September 6 at 13:00. On the expected day of the merge, September 15, this will be the case. Of course, the withdrawal of ether and ERC-20 tokens will resume after these short breaks of about 3 hours. Users do not have to take any action themselves.

It is likely that other exchanges will take similar measures. But this is also really the only thing an ethereum investor should pay attention to in the run-up to the merge. Everything else will just stay the same. So basically you don’t have to do anything yourself.

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