Bitcoin’s Low Puts CoinbaseInto Facing Latency Problems

Bitcoin’s Low Puts CoinbaseInto Facing Latency Problems

A news report suggested that Coinbase is currently facing problems of latency caused due to technical difficulties. It told that the technical difficulties emerged in dedicated retail as well as professional platforms of Coinbase.

Coinbase is one of the most highly regarded crypto trading and exchange platform widely popular throughout the world. The exchange was established under the laws of US in 2012 and headquartered in the US State of California. It is one of the biggest exchange hosting a huge number of users exceeding over 13 million.

The news report revealed that on Thursday a technical difficulty emerged within the exchange’s trading platforms. It was told that the difficulty took place in its platforms which were dedicated to serve retail based and professional customers. Due to this difficultly, the customers were unable to conduct crypto trading and exchange transactions.

It was reported that the difficultyin Coinbase’s platform was the result of Bitcoin’s price going low on Wednesday. An official of the exchange informed that currently they were trying to locate the problem. Once the problem is identified then necessary steps will be taken to resolve the prevailing technical issue.

In the second half of the day, the exchange informed that the problem had been take care of. However, when the official was asked whether the problem was caused due to latency, he did not comment on that.

Meanwhile, many of its users started sending tweets on Twitter in which they too reported having difficulties while trading.

One of Coinbase’s customer informed Reuters that he was in the middle of submitting an order of buying limit well within time. But while he was doing so, due to technical issue, he could not process the transaction. Resultantly, the time limit exceeded and there was no purpose of processing the transaction, he said. He blamed Coinbase for not being able to grasp the opportunity because the time limit had expired.

Since September Bitcoin continued on a Bull-Run but suddenly on Wednesday went low exponentially upto 13%. This meant that the price of Bitcoin plunged to US$ 17,000+ from 19,000+. Resultantly, now the investors’ attention is again diverted towards other low value coins.