The Ethereum Merge is the joining of Ethereum’s Proof-of-Stake (PoS) Beacon Chain with the Ethereum Mainnet to transition the Ethereum blockchain off the legacy Proof-of-Work (PoW) system.This will result in a huge reduction in Ethereum’s energy consumption, and the ability to further scale the Ethereum ecosystem.

The switch will move the entire blockchain over to new Proof-of-Stake validator nodes which require staking or locking up, 32 Ether (ETH) to join. Ether tokens will remain exactly the same for investors, and there should be no change to the operations of Ethereum-based applications.

Due to the Merge, AltumBrokers will temporarily disable deposits and withdrawals related to the ETH network (ETH & USDT on the ERC20 Network) from the 14th of September until the end of the Merge.

The early transactions disabling is set in order to avoid unverified cases and any funds of our clients being lost as there is no clear time or date. The rough estimate of when this is expected to occur is tomorrow between 3am and 6am UTC.

Note that the CryptoConvert tool will still work as normal, meaning that if you want to use USDT or ETH as a base currency when trading, you can deposit into one of the available currencies and then use the tool to convert your funds.