Choise.com is up to speed on an important event in the crypto world – the Ethereum Merge (The Merge), which will happen on September 15, 2022.
More information – in our previous publications:
- Ethereum dominates Bitcoin in market share ahead of Merge
- Google launches countdown timer
- Ethereum may reach $3,000 by the year’s end – Co-Founder of BitMex
- Money is flowing to Ethereum ahead of the merge
What is the Merge
The Merge is the moment when the network switches from PoW (Proof-Of-Work) to PoS (Proof-Of-Stake). In the Ethereum case, after the transition we will have two Ethereum networks: one will run on PoW, another one – on PoS. Thus, ETH 2.0 will be a brand new network to work on PoS.
What is important for Choise.com customers
- During the transition period, there is a high probability of an increase in transaction fees. Therefore, before the transaction, carefully check the conditions and the amount of fees. You may find the current gas fee for transactions here.
- The transaction time with ETH may also increase. For example, topping up or withdrawing from a wallet. Thus, we advise you to make all the necessary transactions in advance.
- All the above written applies to any token on the Ethereum network (ERC-20). Similarly, there may be slowdowns in transactions and increased fees, since this is the same network.
- Please, be extremely careful – the event is likely to boost the scammers’ activity. Do not send your tokens to any third parties. The market may also react with increased volatility.
How will the Merge affect your Choise.com wallet
First, be sure that holding ETH is absolutely safe with Choise.com. By default, no action is required from you. After the Merge, you will find the new ETH 2.0 PoS (Proof-Of-Stake) network tokens on your balance.
In case you have any questions, please feel free to contact our Support team via firstname.lastname@example.org.