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Statement on the Binance exchange changes

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Dear Clients, the following Statement concerns  ONLY the users of Binance.com, it will NOT affect users of other crypto exchanges. 

EndoTech is a SaaS provider

Let us kindly remind you that EndoTech operates as a SaaS (Software as a Service) provider. Our software delivers real-time execution of market-proven tactical breakout high-risk high-return trading strategies with a fully automated performance via API.  It means that we are not a crypto trading exchange nor a broker, we do not have custody over your trading funds, and we have no influence on any such changes affecting Binance users.

Binance exchange announcements

Recently Binance exchange issued three following announcements regarding important changes of verified and non-verified accounts withdrawal limits, API keys verification, and futures account availability in certain countries:

Make sure to read carefully the announcements above, and get ready to comply to ensure continued delivery of our services to your accounts.

Changes list

The changes Binance announced mean that it will no longer be possible to use API keys to receive our live execution with a non-verified account starting from August 23rd, 2021 00:00 AM

Also, please be aware that accounts beneath the level of Intermediate verification will be limited to max withdrawals to a value of 0.06BTC per 24 hours by Binance. 

Finally, please note that users of Binance in Germany, Italy, and the Netherlands, face losing access to the futures trading method due to potential local regulatory and license infringement (yet to be fully confirmed).

EndoTech’s recommendations

In response to the changes above, we recommend the following to protect  delivery to your accounts and funds, both now and in the future:

  1. Verify your main Binance.com account to the Intermediate level.  This will allow you to withdraw up to 100BTC daily at any time.
  2. Consolidate non-verified accounts into a verified main account with a margin wallet. It will ensure that delivery via API keys continues with no interruption. We essentially hold the funds in the margin balance, in USDT for later conversion.
  3. Then find your verified Binance account UID (Binance User ID on the Dashboard). Send its details to support@endotech.io. In this case, we will be able to ask Binance to enable the sub-account feature on your behalf.
  4. Once Binance enables sub-accounts feature, you will split funds back from the margin balance to sub-accounts. And we will re-connect them to individual strategies.

It is unknown how long will it take Binance to complete such a task. So please meanwhile follow these steps and confirm your Binance UID to us as soon as possible.  

For now, please stay patient as we must adapt to these changes set by Binance same as you.

Next major EndoTech’s system update

We are working on the ability to deliver our Alpha strategies via the margin account in the nearest future. Please monitor our emails, and follow social media channels along with video calls for further updates on this matter.

As always, we appreciate your attention, and your focus to complete the needed steps above to protect all existing and future services to you and your funds.

Endotech crypto wallet

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Jake Levant

Jake Levant