The giant cryptocurrency exchange Binance announced that on the first day of the week, it introduced its new feature, the ability to create multiple deposit addresses for a single Blockchain network. Users of the cryptocurrency exchange will now be able to deposit funds to Binance by creating multiple deposit addresses for a single Blockchain network for greater efficiency.

Multiple Deposit Addresses Can Be Created for a Single Blockchain Network

In response to feedback from users, Binance announced that it has introduced a new feature that allows users to create multiple deposit addresses for a single blockchain network. A new deposit address book feature has also been introduced to easily manage multiple deposit addresses created with the new feature. With this new feature, users will now be able to manage their funds more efficiently and flexibly on Binance.

Experts emphasize that this move by Binance will be especially beneficial for AirDrop hunters and will strengthen user privacy protections that have been introduced in other centralized cryptocurrency exchanges in the past.

Up to 20 Deposit Addresses Can Be Created for a Single Blockchain Network

Initially, users will only be able to create multiple deposit addresses for tokens on the Ethereum network (ERC20) and Ethereum alternative networks (e.g. Arbitrum One, BNB Smart Chain). In the announcement made by Binance, it was stated that the feature will be made available for more Blockchain networks in the future and multi-wallet address support will be expanded for Blockchain networks.

On the other hand, users can currently create up to 20 deposit addresses for a single Blockchain network. Binance added that it will periodically review the number of deposit addresses, which is limited to a maximum of 20 for a single Blockchain network, and this number may be increased or decreased depending on the situation.