In the world of cryptocurrency, there’s a new “Blue Screen of Death.” It seems to happen each time Bitcoin and company drop over 15% in a very short period of time (Usually just hours). It’s becoming less and less acceptable that this is the case for Coinbase, considering the fact that they’ve had over $100 million in funding.
The Role Coinbase Plays
During times of high volume (typically when cryptocurrencies are dropping heavily), Coinbase seems to unfailingly fail. With the simple excuse of ‘high traffic’ causing ‘degraded performance,’ it’s clear that something needs to change. Coinbase is a service used by over 6 million people, and should expect each one of these to be concerned when the value of their portfolio goes down. Imagine if Etrade and the like went offline on a consistent basis – they’d be out in no time.
It seems as though people have a higher tolerance for outages in the cryptospace, but I personally think this should not be the case. Why? Because the entire point of cryptocurrency is to have a decentralized, unregulated, 100%-uptime network – and Coinbase outages go fundamentally against this.
What you can do
Like any organization valued at $1 billion should, Coinbase has a customer support page. I would highly encourage dropping them an email, on how you find it unacceptable that such a large player in the space goes down so frequently and easily.
You can also switch services to exchanges like Gemini, Kracken, Poloniex, and many other quality organizations!