Bitcoin Forum

Most people wey dey use binance exchange wallet address receive payment from anywhere, some of us don copy wallet address to each coin  keep and incase if anybody wan send coin to use, we no dey go copy am from binance directly again, we go just paste the one wey we don copy keep before give the person. I just received notification now from binance say some wallet address go expire, which means they go replace the wallet address to some coins, after dey don change the wallet address, if you do mistake send coin to the old wallet you fit lose your coin. Make we all dey careful now, if you no they go copy wallet address directly if you wan receive coin from binance, e go make sense make you go dey confirm the wallet address first. I go drop image below so that we go all see the wallets wey they talk say e go expire.

https://i.ibb.co/315nJhX/282-BD7-FA-4-AF4-4580-AC17-B793-EA540-E1-B.jpg

This nah why we need to they use non-custodial wallet to receive our coins.
Thank you for sharing this update, I never knew Binance do change their deposit address because I once spoke with their customer service and they were asking me some questions upon questions why I wanted to change my address so I had to stop.
I believe they are doing some technical maintenance and that might be the cause. Is this a general stiff or just for a single user? Because I didn't receive any email from them concerning the expiration of wallet address.

they didn't say the coins you have will disappear though. if you have an ETH stored in binance, i think your ETH will still be there when they upgrade since they didn't suggest a thing that you need to do.

i did receive an email like this one. not kind important. if they could only give users an option to generate wallet addresses every time, it would be good for users to be anonymous somehow.

Yeah I been see am to but I no too reason na just now way I read I come understand asap I run go check my address if then don change am 😂😂😂😂 Cux I dy expect bitcoin and na that address I use.

It is not a paper wallet that you own and have no access to it because you want it to remain offline. It is not also a wallet on an airgapped device that you left completely offline.

It is not even a noncustodial wallet that you have its private keys. It is an exchange which you are not the owner of the coins on blockchain, but Binance which can change the addresses at anytime because they have the private keys, not you.

This is one of the best information in the local board I have ever seen. Me I wey  don copy my address since last dey use am. Op thanks you very much. If to sae I no see am here I come mistakenly use di same address send coin and di coin come lost, oboy do thing for pain me die. But from what the op said na for some addresses and not all so I want to ask though u r not part of them in the platform. Will the expiration affect all the addresses both the old and the new?

You do well to bring this information here as majority still dey use this platform for our exchange like selling of our Bitcoin to Naira through their centralized P2P network. Me I dey follow binance announcement on telegram as I dey like see wetin dem dey work on to understand which angle the market fit shift to in regards to wetin man go put small money to see way forward. Binance na very strong force for the industry and where dem dey invest or build products on dey see patronage. Me I see this message too and first thing wey come my mind na those crypto traders wey dey do exchange for whatapp or telegram.

Make dem no go dey dull no come get this update oh as if the address change and they send to the previous address, e dun be be dat unless binance go get some kind support to help people with small charge added. You see this update you post so na why to go dey copy address we you store somewhere no good especially when na all this centralized wallets dem. Make we always dey go directly to the source to get our wallet address them and make sure we crosscheck am to confirm say e pure before we go lose the small money wey we dey reason to use hold body.

Well, thanks, OP, for this information; it's very useful. I must admit that some people who are too lazy to go on to BN and copy a fresh address can fall victim to this challenge. Likewise, any time I want to send bitcoin to my Binance account, I just copy the address from the beneficiary address in my self-controlled wallet. I usually see it as double stress to go over BINANCE and copy a fresh address.

In the past, I have mistakenly sent BUSD to a friend's old address without confirming if he is still using it; this is just a similar case because that address is no longer in use. I just urge every person sending out tokens to also make sure and cross-check if it is the correct address they are sending to.

This information dey very interesting, because I follow for people wey like to dey copy and paste address.
I just hope no one fails to heed this information, but incase, Binance suppose get system wey go prevent one from losing his/her coin because of such an error. After all, the KYC verification and all confirm who the account belong to.
Also, about them telling us to obtain the new address, are we going to be charged for it?
Binance should not add stress to the current Naija economic issue abeg, all this things supposed to be automatic, after all na system wey dey updated with current technology.

How come me never noticed this update since, omo e no easy oo wetin this one come mean na?
Abi dem wan start to dey hit people? As per wetin me sense here be say if person steal ur fund send go there and the wallet expired meaning say e no dey trackable and traceable again because ones them received money from bad source and e happened say the address expired dem no go see the money from the recipient  address again which for my side e dey bad well well.

It is not their private key, they should know that Binance is an exchange, not a noncustodial wallet which they have full control over as they have the seed phrase or private key of their own. But some people are truly just novice about it. After several notifications from Binance, yet an email message, now see what Binance did:


If anyone still use the old addresses and no longer receive their deposited coins, they can just do it manually. Or if they contact Binance, they are going to be be told to just do it manually on the deposit history page. I hope time would be given for this.

OP you don do well to update us with this information. E good say you put am here for us to see if not plenty people no know say this kind changes dey take place very soon o. As I see am I happy say I get this update here because few of the wallets Dem I don copy am store somewhere wey be say any time I want to do transaction I go just go straight go copy paste without Checking from my account direct na just few wallet wey I no dey too use I dey log in dey copy.

Anyways, this update is very important as it bothers our wallet addresses and our own funds safety. Amy body wey know say their wallets still need to change make you for rush so settle the matter before your funds  go Waka o.

Nice information from the OP, as this go put everybody on the edge especially those people wey don save their wallet address for their clipboard on their phone, most times when i want to change my coins i do just paste the old one like the OP talk instead of going to the binance and copying the address again to be more sure and be on the safer side. OP once again you do well to inform us about this recent update on the binance app atleast everyone go dey on the edge for any slight chages again wey fit disrupt their transactions.

Thank you for the update, I know say many people dey use Binance and this info go help person for here. This one na why e good to dey check your emails and app notifications make update no pass you. This thing go affect people way dey do p2p business, their regular customers fit go send coins to their old address thinking say e still dey valid. Wetin vendor go talk for that kind situation, them go call am ripper.

Thi na one of theist legit update way I don see way sweet me for belle for this we corner. Not just that e dey crypto related, na sure update way fit save most of us way don get our lines for the crypto industry and way don prepare one or two memo to dey use like business card or overview on how we dey run our packages.

Binance na one exchange way din penetrate we naija wella and majority of people way dey use crypto for naija largely depend on binance. Them no too sabi other exchanges like them paxful, remitano and the rest of them. Na only binance and na so the small error of not checking your notification and updating your business partners as well as your memo fit make money get leg. Make we dey try and OP, you do well scatter.

Op you really try with dis information when you Share ooo.if no be now when I dey see am for here, I fit talk sai I neva come across dis information for anywhere or maybe bcus I neva check my email.seriously na d way you talk am naso d Mata be oo, even me, I dey see person going to binance to copy wallet address as stress but from now on na waitin I go dey do.as Mata be now na to go dey share am to my people too ooo either through Facebook, WhatsApp or any social media bcus I believe many people may neva catch up with dis information.

Thank you for providing this information. This type of information is what we should be looking for in order to learn more about the exchanges that we commonly utilize for P2P. I also use the Binance exchange, but I haven't seen such a notice, or I may have missed it. This is just a single  example of how our coin at such exchanges is completely under their control and we have no custody of it. If you're going to put some coins there for emergency use, leave a minimal amount or only transfer there when you're going to use P2P.

Actually I love what they did by changing address from those old to a new fresh address, understand say many of us here their address dey on a tracking list and if e happened say them dey frequently do business with people here the thing fit affect them wella because wetin I don read for this forum e go dey hard for A and B to run business of sending money to another one address.
And people wey no dey like to cross check their depo address go like lose money in a hard way since we no sabi dey read update for our email like this, anyway thank you for sharing and me self like to dey use binance well because e dey user-friendly like no other.

Na why I no dey rush when it comes to sending address. No matter the delay I dey go copy am from the app always when I wan use am. The keyboard wey we dey save things keep dey manipulate am sometimes.

I no think say they sent messages to user's email address because me sef no receive but I see the notification for inside the app when I log in. E go make we dey check that notification box whenever we see notification alert for the app but Binance sef suppose send mail to their users for wider awareness because no be everyday person dey log in for the app. If na mail, as long as your data dey on you go receive am and check it out.

I think even Electrum Wallet dey change address and the one for binance from my research no be all the address dey expire. Someone don used one address for over a year and im dey use am since and still dey use am. When u dey copy di address make di person sef know di one im copy, said dat, there is a particular address dat e no dey change so if you copy day one den you can use it for a very long time.

This news no be new one na, and Binance don already change the addresses as dem talk say dem go do. I go like correct something sha, wetin binance do dey different from wetin electrum dey do, binance no dey generate many addresses for you per blockchain, the area of privacy no be their concern. But for electrum the Bitcoin addresses wey you fit to generate choke, dem run am like that to protect your privacy, because to dey reuse addresses na better fuck up for privacy.

Diz tin way Electrum dy do for diz change of address the help produce new address, I been wan ask bcuz I really never understand am. D new address dem way dem dy generate sebi eh dy still dy attached to d same phrase abi private key depending on the one way person carry create the wallet ? And the balance even if we receive am from all the plenty address way eh go generate we fit still spend all of dem at ones abi nah per address base on how eh carry come.

I just start to use electrum new and since I never really make use of another address aside the one way them originally bring the first time I open the wallet.