There were problems for crypto exchange users like Coinbase who saw the service suffer some interruptions yesterday afternoon.
The market is pumping and the service is not available: a nightmare.
The company specifies that these are connection issues, as described on the status page of America’s largest cryptocurrency exchange.
The outage, as reported in a support tweet, only affected users’ ability to access Coinbase and Coinbase Pro, but did not affect trading via APIs (links to external platforms).
This morning we saw degraded performance, with brief periods of downtime for Coinbase and Coinbase Pro, occurring intermittently between 10:28am PT and 12:15pm PT. We have now implemented a fix and access to Coinbase and Coinbase Pro is restored.
— Coinbase Support (@CoinbaseSupport) April 29, 2020
Kraken also reported some connection problems with its API last Wednesday but said that its platform returned to normal operations by 18:56 UTC without creating problems for its users on the platform.
Meanwhile, BTC moves above $9,000 without asking anyone’s permission. Connection problems seem to be minimal for those used to them but a few minutes out of the markets in the investment industry can mean a lot to those who trade as a job.
American companies, more than others, are suffering from the structural difficulties caused by the lockdown caused by Coronavirus.
As much as the industry is at the top in terms of smart working, this doesn’t mean that solving technical problems remotely, or getting a response from someone who may have found hardware malfunctions, is easy.
Diversification on crypto exchanges
For those who move with important figures in these structures, it is essential to diversify the platforms, as well as the portfolio.
As the famous saying of Cervantes in Don Quixote goes:
“Don’t put all your eggs in one basket.”
The omelette is made thanks to hackers, technical problems or major internal company fraud. In a volatile market like the cryptocurrency market, time is money, a lot of it.
Here are the most used exchanges by trading volume:
- Binance MLT
- Upbit ROK
- Huobi SIN
- Bittrex USA
- Bithumb KOR
- OKEx MLT
- Bitfinex HK
- Coinbase USA
- Bitstamp GBR
- Kraken USA