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Bithumb Welcomes Mira Network (MIRA) to KRW Market: Trading Launches October 26
Bithumb, a prominent cryptocurrency exchange in South Korea, has officially announced that Mira Network (MIRA) will be added to its Korean Won (KRW) trading market. Trading for MIRA is scheduled to begin on October 26 at 10 p.m. KST, marking another milestone in Bithumb's continued expansion of supported assets. This move underscores the exchange’s commitment to diversifying its offerings and providing investors with access to emerging cryptocurrency projects.
Deposit and Withdrawal Guidelines
To enable seamless trading, Bithumb will open deposits and withdrawals within two hours following the announcement. These transactions, however, will be strictly facilitated through the Base network only. Investors are cautioned to ensure their deposits use the Base network, as funds sent via alternative networks will not be credited to user accounts. This network-specific requirement highlights the importance of double-checking transaction details to avoid disruptions.
Fee Waiver Event: Limited-Time Trading Incentives
To celebrate the addition of Mira Network to its trading platform, Bithumb is rolling out a special promotional event. During this event, trading fees for all MIRA transactions will be completely waived, offering investors an excellent opportunity to engage with the new asset at no additional cost. The fee waiver will remain in effect until October 29, ending precisely at 10 a.m. KST. Investors are encouraged to capitalize on this time-limited perk to maximize their trading activity as MIRA makes its debut.
Safeguards Against Volatility: Trading Restrictions
Recognizing the volatility that newly listed cryptocurrencies can experience, Bithumb has implemented robust trading restrictions designed to stabilize the market and protect investors. These measures will be in place at critical stages:
- For the first five minutes post-launch, buy orders will be completely restricted to manage initial demand effectively.
- Sell orders during the same period will be limited to a price range between -10% and +100% relative to the reference price. This restriction aims to curb excessive price swings and maintain a balanced trading environment.
- For approximately two hours following the initiation of trading, only limit orders will be allowed. These restrictions encourage controlled trading behavior, reducing risks associated with sudden and unpredictable price movements.
These steps ensure that the trading ecosystem around MIRA remains stable as investors acclimate to the new asset’s introduction.
Investor Advisory: Proceed with Caution
A Bithumb spokesperson has reiterated the risks inherent to newly listed cryptocurrencies, which often experience heightened volatility. The representative strongly advised investors to conduct thorough research into Mira Network’s details prior to making any investment decisions. “We highly encourage all investors to review the whitepaper, roadmap, and other relevant documentation to understand the project’s scope and objectives,” the spokesperson noted. This proactive approach offers traders the tools to make informed decisions and navigate market fluctuations with greater confidence.
Regulatory Compliance and Transaction Restrictions
The listing of Mira Network aligns with Travel Rule requirements, reflecting Bithumb’s adherence to global compliance standards. Additionally, deposits and withdrawals involving restricted exchanges designated by the platform may be subject to limitations. This measure ensures that all transactions remain within regulated parameters, reinforcing investor trust and the exchange’s commitment to safeguarding user interests.
By following these operational guidelines and regulatory standards, Bithumb aims to foster a secure and transparent trading environment for all its users.
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