Top2 volume exchange after Bitfinex just went down without notice. They say for 12 hours.
Since such long unannounced downtimes often mean trouble - people are scared and mad for now.
I suggest to join decentralized exchanges like OpenLedger which has STEEM and SBD.
As i wrote in post some time ago - the moment you send money to exchange, they are not yours. Send only what you can afford to lose.
CEO of Binance
Where to trade?
I suggest:
- BitMex for leverages on many coins
- KuCoin very similar to B
- CoinExchange has some ETH tokens that B has
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These kind of outages are incredibly frustrating when you are trying to make a time sensitive trade, so I can understand why people panic and make a fuss. On the other hand there are inevitably going to be problems that cause down time every once in a while, so it would be irrational to get too angry at them.
I was a bit worried when I saw the news today and had to login to my account and see my coins are ok but the withdraw or trading is suspended.. so I will wait for it to come back online in the next day and withdraw the coins I want to hold long term.. will get them in to a wallet.
oh very bad news really
I have Binance. I'm a programmer and these kind of issues are normal specially with this kind of site who's handling lots of data every second. They sure need to upgrade their system every now and then.
Agreed @gvincentjosephm I for one prefer a well updated and secure platform, haters are always going to hate but if your leaving your coins on an exchange and your unable to withdraw who's fault is that really?
You give me confidence and the light is otherwise bleek.
Agreed. I'm in the industry as well and resyncing databases for a global app is a fairly reasonable excuse as to why their service is down.
That’s crazy! I signed up for Binance a few days ago. I didn’t deposit any crypto but did explore their platform for a bit. Hopefully the get straightened out seeing as they just added steem to their exchange!
and also Bluzelle and Aeternity just recently.
I don't think It's anything to worry about. They do have a lot of trading activity, which is clearly going to have an effect on the sites security. With that in mind, I'd rather they go offline for 12 hours than risk being hacked.
hope to revive soon
I have a Binance account but don’t trade much on there so this doesn’t effect me really.
Still, annoying for some I am sure...you always would like to have access to your funds and trading abilities.
I am sure they will sort it out soon. Until then, bunker down and HODL.
Thanks for sharing.
Chill out - this is the message from Binance.
"We experienced a server issue on our replica database cluster, causing some data to be out of sync. Need to fully resync from master. Due the size of the data, it will take several hours. No data is lost. We appreciate your understanding and support."
Maintenance is OK. But unannounced? That sucks!
The "unannounced" is the sad part. Let's give them the benefit of the doubt :)
When one of these go down I always kick myself for leaving any money on exchanges. Thanks for posting the quote though- this sounds reasonable
12 hours is too much for a traders. But the good news is that Exchange was not hacked
Seems like a minor problem like this could loose many people money of not handled properly.
https://steemit.com/binance/@onefas1984z28/john-mcafee-tweets-binance-has-been-hacked-is-it-fud
Thanks for letting us know. Funny: I used Binance this morning without any trouble to speak of.
My App froze up about 3hrs ago. I was getting ready to Uninstall/Reinstall
Open ledger is great,decentralized and the best thing,you are under control of your founds,no one else.Only bad thing is low liquidity..exchange is not popular yet..sometimes it's hard to sell something.
don't panic am sure all well they are the best in the business am sure this is just all about maintenance.
I just loved in.
Kraken went down for days and is now back up and running fine. Almost all exchanges suffer from scaling issues due to exploding cryptocurrency demand, no need for panic every time this happens. I'm all for decentralized exchanges, but downtime like this is not at of the ordinary at all.
We had a couple of days from hell at Kraken, but at least they announced the upgrade
Binance is still down, I'm smelling fish and Definitely losing trust fast.
Diversification is key here folks, I have been unable to trade on binance today, no problem, been making all my actions on Kucoin and Bittrex, and 90 percent of my coins are safe in my wallets anyhow. You have to know the game people!
Do not panic binance will bounce back and all will be well.
In situation like this you have to trust the admin of Binance. They will always want to satisfy you. So the waiting will not hurt
Does it mean that they are gone forever because I am scared.
not at all, Binance is big business. They want to keep people trading, not less.
Yeah you are right. But that was a shock for me:)
Thanks for the information
Going down without notice is not cool
I suggest they do upgrades
This is terrible. I have coins on that exchange. I have seriously been looking at paper wallets!
Binance is becoming hugely popular among cryptocurrency beginners who want to get access to altcoins. Binance assists in gaining access to 100s of altcoin which is not easily available. The huge interest in the platform is creating lots of burden of existing server. I guess they are trying to upgrade the server to manage their database in good way.
Yeah its a bit aggravating when you try to log in to purchase more coins or to just check the market you are unable to log in just to find out later that their server is down without any notice
Also thanks for the alternative exchanges!
I'll take "maintenance" over a "hack" any day. I'm sure they will get things back running ASAP.
The cool thing to do these days after getting hacked is issue exchange coins, tell people to buy them, and then give them their hacked money back with other people's money.
It wen't down just when I was about to confirm my sell order! Now, I'm already 5% down and it keeps falling. I was originally using bittrex as my main exchange and I just started using binance last night, then this happened! I am so mad! grrr!
Binance was limiting new signups for awhile there. I guess still though growing to fast. I m not a techie but even now if a new exchange or company pop up with actual customer service and toll free line they will dominate this space. Binance is a step up from Polo but we still got a ways to go until a company really brings it with some true customer service. Nice post kingscrown.
Hi, I read your post. Thanks for your information.
I guess it's time to go look over my KuCoin dividends - lol!
Thank you for the information. I just had money clear into my Abra app and was going to send it to Binance.
You post always say new sonething awesome
Whao, I cant believe they just went on maintenance for hours. This is uncalled for.
Lets wait. Im very sure that they cant vanish just like that. It will cost a lot of havoc to cryptocurrency.
I don't like when i can't withdraw my own money, it makes me nervous
Yes, it can be very disturbing but you just have to be patient. Every business is with its one risk or the other. But dont worry you will be able to withdraw soon. Im only here to motivate someone
Thank you for the information :)
Well I guess they don’t want the price of crypto coins to go up to much before they can grab what they can first.🤔 what do you all think?
thank you for good information. I just know about this one like openledger is there for exchange for steem and sbd
The unfortunate reality when dealing with these exchanges ... when possible try not to keep all your money on the exchanges
Oh no... Panic mode... Just kidding... Enjoy everyone... Hope nothing serious...
Wow that is alarming.
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Thats a bad news
But i think it would be cool if we just wait and watch
Man I swear these exchanges are held together with toothpicks and stickytape. This always happens when there is a bit more volume.
I always Expecting such type of informative post on your blog.Hey, @Kingscrown !!! Nice Post.
I think when they are doing they send a threatening message and individuals will get startled. I trust this isn't ghastly news. The benefit backward thing we require is another vanishing of crypto stores for the media to express that its contorting. when you attempt to sign in to buy more coins or to simply check the market you can't sign in just to discover later that their server is down with no notice.
Binance Down for Next 12 Hours! This backs my idea that ALL crypto investors should get a hardware wallet. I have resteemed this to share with ALL Steemit Users. Great share! Do you deal with Binance? I am sure you have a hardware wallet.
This post has received a 58.54 % upvote from @getboost thanks to: @kingscrown.
You got a 36.36% upvote from @inciter courtesy of @kingscrown!
Thank you for the update. I was beginning to wonder what was going on with my Binance App. Everything has been frozen for a couple of hours now.