New updates are being added at the bottom of this story…….
Original story (published on April 25, 2022) follows:
Coinbase is one of the most widely used cryptocurrency exchanges in the world. Millions of users trust the platform to trade their tokens (buy and sell) and store them.
Through a cryptocurrency exchange, you can do many operations beyond the simple purchase and sale. Each crypto exchange platform has its own possibilities and features.
For instance, multiple exchange platforms offer the possibility of staking (‘lock’ a number of tokens for a certain time to obtain a percentage of profits).
Other exchanges also allow margin trading (trading with more volume of tokens than you own). Some even allow you to apply for loans in crypto assets.
Coinbase users can access their accounts through the website or mobile apps. However, currently, the cryptocurrency platform is down or not working, preventing millions of users from accessing their crypto assets.
Coinbase currently down or not working
According to multiple reports, Coinbase has been completely down for a while now. This is reflected both on the website and in the Coinbase app (1, 2, 3, 4, 5).
When Coinbase users try to access the platform, all they get is ‘We’re having connection issues’. The error message also ensures that user funds are safe.
Some users suggest that crashes on the platform are becoming a common situation.
The Downdetector platform also reflects the crash in the Coinbase servers.
There is no official acknowledgment on the issue from the Coinbase team yet. So, affected users can only wait for official pronouncements to emerge in the future to find out when they will be able to access their crypto assets again.
We will update this story as events unfold.
Update 1 (April 25)
05:42 pm (IST): Coinbase support on Twitter has now confirmed that the recent outage with their services has been resolved.
Featured Image: Coinbase on Play Store
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