Coinbase, the major US-based cryptocurrency exchange, has faced once again a massive outage on its platform. The crypto exchange experienced this outage at the moment when the price value of Bitcoin plummeted down to the $8100 level. Due to this outage, users were unable to trade on the platform.
Coinbase goes offline again
The top crypto asset Bitcoin has once again faced a price crash when it lost more than 15% of its price value within no time while plunging down from $9,600 to the $8,100 level. Though the leading digital asset has settled its price value at $8,685.39 at the press time but it had impacted the whole crypto community. During this price crash, the major Bitcoin and crypto exchange Coinbase got affected by a massive outage which ultimately led the crypto exchange to go offline. Due to this, Coinbase users were unable to operate their trading activities.
It is not the first time Coinbase goes down
The crypto exchange has already encountered such kind of technical issues on its platform and it is not the first time that it has gone down. However, this is the second time that Coinbase has to go offline within the duration of just one month. This is really surprising for the crypto community.
When users were unable to operate on the Coinbase platform, they started complaining about the exchange. A Twitter user named @CryptoFinally said that if you want to access your bitcoin holdings then you should shift them from Coinbase to non-custodial wallets. She tweeted:
“How many times do we have to say take your #Bitcoin off of coinbase if you want to have access to it. Please I urge you to move to non-custodial wallets. This is not the first time Coinbase has gone down & it surely will not be the last.”
The co-founder and partner at bitcoin and crypto hedge fund Morgan Creek Digital, Jason Williams said while joking on the exchange that Coinbase seems to be behaving like “the NYSE circuit breaking”.
These issues might affect the image of Coinbase as the leading US crypto exchange. The company behind the exchange should take it into consideration.