Celsius Network Resumes Withdrawal of Distributable Assets, But Eligible Users Should Take Note
On February 15, the crypto lending platform Celsius Network tweeted that the withdrawal of distributable assets in some custody accounts was about to be restar…
On February 15, the crypto lending platform Celsius Network tweeted that the withdrawal of distributable assets in some custody accounts was about to be restarted, and Celsius began to notify eligible users to take the necessary steps to withdraw. Eligible users will also receive specific information about gas and transaction costs related to cash withdrawal activities. Qualified users who do not have enough assets in their accounts to pay these fees will not be allowed to withdraw their assets. Eligible users are expected to receive e-mails from Celsius and notifications issued by Celsius applications around February 15.
Cersius Network starts to notify qualified users to extract the managed assets
Interpretation of the news:
Celsius Network, a crypto lending platform, recently announced that the withdrawal of distributable assets in some custody accounts would resume. The company also stated that it has notified eligible users to take the necessary steps to withdraw. However, there are conditions for eligibility that users must take note of.
According to the announcement, qualified users who do not have enough assets in their accounts to pay for gas and transaction costs related to cash withdrawal activities will not be allowed to withdraw their assets. This implies that Celsius Network expects users to have enough funds to cover the transaction and gas costs associated with the withdrawal process before initiating the process.
For eligible users who meet these conditions, specific information about gas and transaction costs related to cash withdrawal activities will be provided. This move helps promote transparency as users know how much they would pay for the withdrawal process.
Celsius Network has also stated that eligible users would receive e-mails and notifications from the Celsius application around February 15, notifying them of their eligibility for withdrawal. This notification is necessary to keep users updated on the status of their account with the company.
Overall, resuming the withdrawal of distributable assets is good news for Celsius Network users. However, users need to meet the eligibility criteria and have enough funds in their accounts to cover the gas and transaction costs associated with the withdrawal process. Failure to do so will make it impossible to withdraw assets from the company.
In conclusion, Celsius Network’s recent announcement regarding the resumption of the withdrawal of distributable assets is a step towards promoting transparency and keeping users informed. Eligible users must take note of the eligibility conditions and have enough funds in their accounts to cover the transaction and gas costs related to cash withdrawal activities. This move not only helps Celsius Network users but also promotes responsible management and withdrawal practices.
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