Binance has problems with connections with today crash - page 2.

Review Master

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Quote from: stomachgrowls on April 19, 2021, 02:47:09 PM

the public or the entire community would really be the one who would decide on which one and what place they would really be hanging around not just on simply jumping into some exchange
just because they had been struggling or does have problems specially on some occasions.

Yeah, i do remember those bittrex and poloniex days but they havent lost up their popularity due to technical but rather into other means like it is way more
strict when it comes to KYC.

Indeed, it's upto the community whether they want to lose their assets because of technical issue or not. Just want to mention that more than 9 million usdt worth of aseets was liquidated when btc dumped at 51k and not only this, it's dumped at 51k and again pumped back to $56k within few minutes. If anyone thinks that exchanges are making profit from our trading or withdrawal fess, than it's wrong. This type of dumped is a great source of making profit on crypto space by those exchanges and most of the exchanges were facing technical issues in that time. As a result, users are losing their funds as they can't make any action on exchanges. As of being a top class exchange, binance shouldn't have that much technical issue in those times, IMO.

Agree with this, bittrex and poloniex didn't loss that much popularity ,but they lost those users who don't want to get trapped in technical issue when massive dumps is going on.

XZERO1

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I'm willing to bet they will have the same problem in the next 1-2 years when the volatility is too high, and that's not because they can't handle the high traffic and their server is not good enough, but it's because they simply don't want to, it's just too easy to control the market price so that it goes in your desired direction when you have the ability to let tons of traders to trade or not trade for a specific amount of time, and that's even more easy when that exchange is the most popular exchange with the most users.

If you're trading on leverage or you're playing with too much money on the line it's a way safer option to go for another exchange, it's better to lose 1% or less on a trade because of higher fees or larger spreads than a lot more because you don't have access to the exchange for a period of time and can't close/modify your opened position/s.

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Quote from: DigitalFox on April 20, 2021, 12:58:13 AM

Looks like they're working on it right now.

Edit your post with the article from Binance Binance Spot Trading System Upgrade Notice (2021-04-20)

I believe you don't know the forum rule on plagiarism and forgot to add a source link. Do it before it is too late, my friend. Do it first and read more about the forum rules

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DigitalFox

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Quote from: nelson4lov on April 19, 2021, 05:29:52 PM

Binance needs to scale to accumulate the continuous increase in their number of users.

Looks like they're working on it right now.

article from Binance: Binance Spot Trading System Upgrade Notice (2021-04-20)

Fellow Binancians,
Binance will perform a scheduled system upgrade starting at 2021-04-20 2:00 AM (UTC). The upgrade will take approximately 2 hours.
Binance Futures & Options trading will continue unaffected during the upgrade period. Binance Leveraged Tokens will suspend trading, subscription, and redemption.
During the upgrade period, Binance will suspend the following services:
Deposits and withdrawals
Spot and margin trading
P2P trading
Convert & OTC Portal trading
New user registrations
Sub-accounts activations
Subscription & redemption of Savings
Swapping or adding/removing liquidity on Binance Liquid Swap
Staking or redeeming assets from Launchpool
Crypto Loans services
Binance Card dashboard and transactions
Binance Pay
Asset transfers from sub-accounts, margin accounts, futures accounts, pool accounts and fiat wallets.
Users will have a 30-minute window after the upgrade is complete to cancel orders, process deposits and withdrawals, transfer funds, and use all other account-related functions before trading resumes.
Major improvements in this upgrade include:
Overall system performance and stability improvements.

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Quote from: OcTradism on April 18, 2021, 08:28:25 AM

Today, Binance shown that they have technical problems with the market crash. Within 10 to 30 minutes, it was super hard to submit orders and get it successfully loaded on the market orders.

It happened with Binance since the beginning of bitcoin bull run. Honestly I respect the quality and creativity that Binance run their services and some products that create trend in crypto. Today problems recall me the same with Poloniex and Bittrex in 4 years ago bull run.

I hope in this bull run, the market will have another new outstanding exchange.

This isn't the the first thing that Binance has experienced a downtime. It has been happening for as long as I can remember. They have been called out many times by Twitter crypto influencers since it happens every now and then especially during times where there is high market activity like an impromptu market crash or in an event of a price surge. Anyway, with or without downtimes, liquidated positions would still end up getting liquidated unless the risks would be immediately managed to prevent such. Binance needs to scale to accumulate the continuous increase in their number of users.

livingfree

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Quote from: noorman0 on April 19, 2021, 01:45:23 PM

Quote from: livingfree on April 19, 2021, 09:27:22 AM

-snip-
And sadly, I saw someone shared it that because of that response from the exchange, he just have lost his life savings.

What is the correlation between exchange crashes and lost savings? Huh

IIRC, he's into margin trading and he's into a long position but while the crash happened, there's a sudden drop which made him lost all of his life savings that's being put on that trade.

That's the non-verbatim story that I've read on the other forum. I'll try to find again that story because the guy seems legit and really felt bad of what happened and don't like to use Binance anymore.

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Quote from: FanEagle on April 19, 2021, 04:18:00 PM

Deposits are still fine interestingly so I do not know why is that, I can deposit anything to anywhere and it is fine, but when I want to withdraw anything from anywhere it becomes expensive and slow. I suppose they had an overload and they will find a solution very soon.

BSC is still in its very early phase and should not be judged at their present performance as they are continuously trying their best in keeping the chain working all the time. I agree that the withdrawal transactions are a bit more costly than deposits, but they are still cheaper against what we are paying on the Eth chain. I think they should be given some more time to develop BSC in a much better way.

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Quote from: OcTradism on April 18, 2021, 08:28:25 AM

Today, Binance shown that they have technical problems with the market crash. Within 10 to 30 minutes, it was super hard to submit orders and get it successfully loaded on the market orders.

It happened with Binance since the beginning of bitcoin bull run. Honestly I respect the quality and creativity that Binance run their services and some products that create trend in crypto. Today problems recall me the same with Poloniex and Bittrex in 4 years ago bull run.

I hope in this bull run, the market will have another new outstanding exchange.

There seems to be problem with the BSC as well. I have been part of some DeFi projects and when I want to withdraw it takes more money, this wasn't just one DeFi neither because if it was I would say it is a problem by them, but I tried other places and it was a problem there as well. Especially when it comes to Cake that was a big problem, it required like 5x more withdraw fee than usual for me to be able to withdraw and took me nearly 2 minutes to withdraw, normally this is cheaper and a lot faster, like 10-15 seconds. So, to have something like this was a shock to me.

Deposits are still fine interestingly so I do not know why is that, I can deposit anything to anywhere and it is fine, but when I want to withdraw anything from anywhere it becomes expensive and slow. I suppose they had an overload and they will find a solution very soon.

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Quote from: Review Master on April 19, 2021, 02:34:35 PM

Quote from: OcTradism on April 18, 2021, 08:28:25 AM

I hope in this bull run, the market will have another new outstanding exchange.

Why don't we shift to FTX as it's on the same level to bet Binance and i didn't face any kind of technical problem on FTX whenever market is on correction mode. TBH, bittrex and poloniex was so much popular back in 2017-18's bull run and market was needed any alternative which was done by Binance. Just like that, we need an alternative one which will be innovative more than or like binance and FTX is the best one, IMHO.

Dont have any experience on using up that FTX that you had been talking but well if its a personal preference basing up on real experience then i can consider it but we know that

the public or the entire community would really be the one who would decide on which one and what place they would really be hanging around not just on simply jumping into some exchange
just because they had been struggling or does have problems specially on some occasions.

Yeah, i do remember those bittrex and poloniex days but they havent lost up their popularity due to technical but rather into other means like it is way more
strict when it comes to KYC.

Review Master

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Quote from: OcTradism on April 18, 2021, 08:28:25 AM

I hope in this bull run, the market will have another new outstanding exchange.

Why don't we shift to FTX as it's on the same level to bet Binance and i didn't face any kind of technical problem on FTX whenever market is on correction mode. TBH, bittrex and poloniex was so much popular back in 2017-18's bull run and market was needed any alternative which was done by Binance. Just like that, we need an alternative one which will be innovative more than or like binance and FTX is the best one, IMHO.

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Quote from: OcTradism on April 18, 2021, 08:28:25 AM

Today, Binance shown that they have technical problems with the market crash. Within 10 to 30 minutes, it was super hard to submit orders and get it successfully loaded on the market orders.

It happened with Binance since the beginning of bitcoin bull run. Honestly I respect the quality and creativity that Binance run their services and some products that create trend in crypto. Today problems recall me the same with Poloniex and Bittrex in 4 years ago bull run.

I hope in this bull run, the market will have another new outstanding exchange.

It is usually a normal thing that happens to exchanges sometimes, it has also happened to Coinbase, so it’s not like Binance is the first that it is happening to. It is just with time they are going to see a solution to it and improve. And moreover, you have to understand all these are technology, there will also be times that a website will be down due to one issue or the other, it happens everywhere, and it is not an issue that can’t be solved, just the time that it is going to take. I believe that they are functioning properly right now, cause the issue has been resolved.

noorman0

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[Nope]No hype delivers more than hope

Overloads and crashes are tolerable for services as large as Binance. Handling a large number of binance traders around the world is not easy, moreover, trading activities especially trading bots will be more active when the market is experiencing severe fluctuation.

Quote from: livingfree on April 19, 2021, 09:27:22 AM

-snip-
And sadly, I saw someone shared it that because of that response from the exchange, he just have lost his life savings.

What is the correlation between exchange crashes and lost savings? Huh

DigitalFox

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I've experienced the same. Looks like at peaks they (along with most others, by the way) are unable to handle all incoming requests. Maybe it's time for them to add more servers.

livingfree

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It's always like that.

Whenever there's a bull run or sudden price hike to bitcoin and other altcoins, the problem occurs. They knew it for a long time that many exchanges are like that.

And sadly, I saw someone shared it that because of that response from the exchange, he just have lost his life savings.

davis196

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Quote from: OcTradism on April 18, 2021, 08:28:25 AM

Today, Binance shown that they have technical problems with the market crash. Within 10 to 30 minutes, it was super hard to submit orders and get it successfully loaded on the market orders.

It happened with Binance since the beginning of bitcoin bull run. Honestly I respect the quality and creativity that Binance run their services and some products that create trend in crypto. Today problems recall me the same with Poloniex and Bittrex in 4 years ago bull run.

I hope in this bull run, the market will have another new outstanding exchange.

Nobody knows whether or not the bull run will continue.Will this price correction turn into a bear market or will the price return back to 63K USD?I'm still a moderate optimist that we will return to the bull market during the summer.There's nothing wrong with having a bear market in April,May and June. Grin

Such service interruptions of the big cryptocurrency exchange platforms happen,every time when there's a price correction.Maybe there's an overload of sell orders at a very short time frame and that's why Binance is having difficulties with their service.

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Quote from: OcTradism on April 18, 2021, 08:28:25 AM

Today, Binance shown that they have technical problems with the market crash. Within 10 to 30 minutes, it was super hard to submit orders and get it successfully loaded on the market orders.

It happened with Binance since the beginning of bitcoin bull run. Honestly I respect the quality and creativity that Binance run their services and some products that create trend in crypto. Today problems recall me the same with Poloniex and Bittrex in 4 years ago bull run.

I hope in this bull run, the market will have another new outstanding exchange.

On the contrary when you see such complain on Binance and coinbase in the bull market on technical crash to prevent deposit, withdrawal and trade, they are controlling the price, maybe from dump. There is a recent tweet of a deposit of over 9000 btc on binance for trade in last few days and was also responsible for the crash along with the largest crash of hash rate.

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Quote from: Hamphser on April 19, 2021, 12:04:51 AM

This is what we called that nothing is perfect, it might have some flaws but doesnt mean that they do suck.They wont really be coming the top exchange at the moment if they do really have some problem

There might be some lag and other delays but doesnt mean that it would be permanent.For sure they are fully aware that they would need to improve even more.

Who care that Binance aware of their issues? The users got losses if their orders can not be set on time. Crashes can kill them and the suck, hiccups of service bring higher risks of being killed. Exchanges have their shady actions and they get benefits when users are killed. They are responsible for their services in any situation.

Quote from: gabbie2010 on April 19, 2021, 01:21:53 AM

I was very disappointed yesterday when I was about to placed an order on my mobile phone on Binance platform, after several attempts which proved abortive I have to let go the trade, I thought it was a network issue from my end here, thank you for bringing it to the notice of the forum forum members, I read a flash news
on my trading platform now of a possible upgrade by Binance on 20th there is going to be short interruption of trading for 2 hours Binance traders take note

Any time Binance have updates, maintenance, price will have big movements. Ups or downs after the maintenance on 20th, please guess.

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I was very disappointed yesterday when I was about to placed an order on my mobile phone on Binance platform, after several attempts which proved abortive I have to let go the trade, I thought it was a network issue from my end here, thank you for bringing it to the notice of the forum forum members, I read a flash news
on my trading platform now of a possible upgrade by Binance on 20th there is going to be short interruption of trading for 2 hours Binance traders take note

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Quote from: johnwest on April 18, 2021, 09:53:24 PM

It's almost the same with every exchange these days, they had like 3 years and most of them knew that there is going to be a bull run sooner or later but still they didn't figure out a way to cope up with the new members flood. Another thing to point out here is that new users are impatient, they want everything in a click and moment which is not a practical thing to do. I would say Binance is still far better than some other exchanges whose downtimes are like in hours.

This is what we called that nothing is perfect, it might have some flaws but doesnt mean that they do suck.They wont really be coming the top exchange at the moment if they do really have some problem

There might be some lag and other delays but doesnt mean that it would be permanent.For sure they are fully aware that they would need to improve even more.

For now the best is to understand as long they can give out those service that we do need even though with some hiccups then its still considerable.

OcTradism

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Quote from: logfiles on April 18, 2021, 07:49:31 PM

This is now becoming more and more frequent, and is now happening in every sudden market price changes.

More frequently happens in recent months. You pointed out a truth.

Quote from: BitMaxz on April 18, 2021, 08:00:07 PM

It's working fine for me using the Binance app I don't know on their web but trading here on the Binance app is fine without a problem submitting orders.
Try to use their app maybe the issue it's just on their web version but on the Binance app, I haven't experienced any issue or delays.

I use app after I have problem with website.

I noticed another thing. Problems are more serious with BTC pairs but less seriously with USDT pairs. I am not sure but you can check it next times.

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