Binance Down for Next 12 Hours (Unannounced!)

in bitcoin •  3 months ago

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:

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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.

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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.

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You give me confidence and the light is otherwise bleek.

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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?

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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!

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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."

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

Maintenance is OK. But unannounced? That sucks!

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The "unannounced" is the sad part. Let's give them the benefit of the doubt :)

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.

Thanks for letting us know. Funny: I used Binance this morning without any trouble to speak of.

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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.

Wow that is alarming.

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I can see you put a lot of time into this post. It payed off.

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.

Hey, @Kingscrown !!! Nice Post.
I always Expecting such type of informative post on your blog.

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.

Does it mean that they are gone forever because I am scared.

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not at all, Binance is big business. They want to keep people trading, not less.

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Yeah you are right. But that was a shock for me:)

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.

Don’t panic just wait man!!

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Yeah if you're screwed you're screwed, if they're going to run with the money then it's too late to panic.

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Thats how they say HODL lol

Good

Oh I didn't know about openledger. Or the Binance mess! Thank you for sharing. I'll have to check out OpenLedger now.

There are more people on the system now than ever before so systems cant keep up, servers have to be expanded to handle the traffic flow. All will be fine soon, thanks for sharing this information with everyone.

am sure, is just some maintenance issue, no need to be scared

Its cool ppl, shit happens, at least thata a pro way to deal with it( twitter,official announces,saying what the issue is etc among others)

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Yeah, as long as the exchange re-opens. Once the first one doesn't though...

Yes, I think when they are doing they send a bad message and people will get scared. I hope this is not bad news. The last thing we need is another disappearance of crypto funds for the media to say that its fraud.

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agree, and hope not. Not giving any information does make one wonder

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I agree, certainly seems less than professional. But then again we get into that gray area of REGULATION talk.

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increases trading volume sounds like more potential growth for alts right now.

You post always say new sonething awesome

Interesting, but not a big deal in the long term. If there really is increased trading volume, good for shitcoins.

Have to look into open ledger, thanks for the sharing the good word on dencentralizedEX.

To be honest.. this shouldn't matter. If anyone is trying to sell since everything has been dipping lately, you are crazy to take a loss.

Whao, I cant believe they just went on maintenance for hours. This is uncalled for.

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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

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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

It is my fear of exchanges that has kept me from jumping into crypto honestly. I have yet to read of any without tons of complaints about accessing your own currency.

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Open Ledger is fully decentralized. It's pretty cool once you get the hang of it. Many coins to choose including Bitcoin, Litecoin, Dash, Steem, EOS, and a lot more. Open Ledger is built on the Bitshares blockchain. Best move i've ever made in crypto space.

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It seems to have an issue with my security settings, telling me not to browse incognito when I checked it out earlier.

Maintenance means it's planned, so you tell your customers beforehand. They are either 1) douchebags for not telling their customers in advance, or 2) lying about it being maintenance. You decide.
@kingscrown

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How about:

3 ) they had unexpected problem, because their system was designed poorly, and instead of continuing trading exposing everybody to risks of bigger problems they chose to do long maintenance to resolve immediate problem in less risky way for everybody.

I like their current decision, but I don't like design of their system.
And if they will not change that design during that maintenance, this problem will repeat, so sell BNB unless they publish news about good design changes.

4 ) this is cover-up of BNB ponzi price bubble to explain it's huge incoming price drop to authorities and community.

kucoin is the best alternative it provides payouts for staking and dividends to its share holders

Guys join Aethia its about to take off in 2 days and will be worth some money as soon as it does! THEE NEXT CRYPTOKITTIES
https://aethia.co/welcome/fhZdsMrZWm7AW9iwPRMas2FiIu0bOfX7

Let's hope this system upgrade will reopen the new user registration.

is binance really down?

Mantap sir..... i like it

yeah i just checked it is definitely down thank you for sharing. i do most of my trading on cryptopia which is up and running.

I really agree with this to be more advanced in this transition period, thanks @kingkrown.

"Send only what you can afford to lose" - It is the holy truth and rule number one!!!

Maintenance is necessary considering the popularity of crypto and how many people signing up on daily basis on binance. No big deal. I generally agree that we should never store very big amounts on any exchanges but if you have small amounts it's ok. Aftter several months of dealing with crypto I realised that it's the same thing repeating itself over and over, so the less you are worried the better you live. People panic way too much.

Thanks for the heads up!
Hopefully all our funds are safe!

Hi, I read your post. Thanks for your information.

OpenLedger huh? @kingscrown everytime I come for one thing and leave with another!
Talent.

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If you try Open Ledger, here's a tip...send BTC to the Blocktrades Gateway listed under Deposit/Withdrawal section. Select to receive BTS (or whatever) as Bitshares and the USD markets are pretty big.

I have Binance account. I am sure this is just a temporary problem that they are facing and the team are going to get things back to normal again in no time. Don't panic. Let the team do their stuff.

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

Thank you for the information. I just had money clear into my Abra app and was going to send it to Binance.

That sucks. I prefer Binance after Cryptopia lost $25 worth of ETH and ignored my support tickets

don't panic am sure all well they are the best in the business am sure this is just all about maintenance.

I guess it's time to go look over my KuCoin dividends - lol!

Thanks for that info was getting worried hope all will be good soon :)

It looks like another news to drop bitcoin down :)

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!

Thank you for the information :)

I got in just a little bit ago when I heard there were problems. It took 3 or 4 tries. It is annoying though. So is having to use 5 or more exchanges. If cryp was easy, everyone would be doing it.

Thats sucksss ....thanking for letingas know.

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Binance is just having some server issues - again.

They'll have it sorted out after a couple of hours and everything will be back up and working, with no data lost.

This happened twice already, it's due to the fact that their userbase multiplied in a couple of weeks/months.

Crypto is all about how long you can hodl off panic! Binance will be back up and running shortly. In the mean time I suggest you go and watch the the new Han Solo trailer and start worrying for Disney!! :)

definitely annoying especially when you don't get a notification message when you log in. Between this and steem still down on Polo can't help but feel a bit stuck - not concerned that all will be resolved just not a good place to be for those of us who believe in the space... #Bpositive

It's completely unacceptable for a top 5 exchange to have any type of maintenance for 12 hours, never mind unscheduled. Whatever the problem is, you can damn well believe it's big because they are costing themselves a lot of money by being down.

Another reason to go decentralized.

I feel like the real issues are surrounding the fact that this may be a breach of security that leads to a hack theft. An unannounced shut down might signal they have isolated a hack and are keeping coins from being moved off the exchange.

Thanks for the information

Going down without notice is not cool
I suggest they do upgrades

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.

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We had a couple of days from hell at Kraken, but at least they announced the upgrade

i think something went very wrong there. servers and data should be redundant. if one goes down it shouldnt affect the system.
there is possibility they have been hacked or somebody attempted a hack.

I have orders need to adjust, I'm afraid when Binance goes live again, my orders will be filled unexpectedly

I did experience really slow connection and was already expecting to hear something like this. But still nice to know it wasn't something worse.

Simply insane, I have orders that I can't wait....Binance get the server back asap please! :(

Binance is old news, these exchanges are all junk. I'm using Omicrex and don't have to deal with constant bullshit from lazy staff members, big exchanges are first-gen legacy nonsense

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!

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?

nice post my brother. help me

Hopefully be back up soon lads!

If I don't download binance in that time that happens?

Thanks for the great suggestions, I have been using #kucoin for so long without issue I think everyone should be on the exchange

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.
clapping hands.png

thank you for good information. I just know about this one like openledger is there for exchange for steem and sbd

I'll take "maintenance" over a "hack" any day. I'm sure they will get things back running ASAP.

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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.

I think the more appropriate term regarding the title will be "Unexpected"

This is terrible. I have coins on that exchange. I have seriously been looking at paper wallets!

wallet.jpeg

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!

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  1. You can't purchase coins on Binance
  2. You can still log in

i'm not too worried but this is a good reminder to have multiple trading accounts and withdraw frequently

Let's just wait for the estimated time given for them to be up. If they have to halt new member registration to limit traffic, maybe they should for now.

I think this is the best exchange available and like any new business they're going to have some cliches

Think about it this way ...... Does Amazon email you or "let you know" when they're updating their shopping app? Nope, and they aren't obligated to either. Assuming your from the UK or the US, Binance is foreign, which means they operate differently and adhere to a different set of rules and policies than a typical American or UK company would. Just because they are down does not mean PANIC. Cool your beans bro, it's all good. Binance will be up and running again within a day.

Real Question:

You guys like the LEDGER NANO S OR the TREZOR Wallet better?

I say the LEDGER NANO.

The unfortunate reality when dealing with these exchanges ... when possible try not to keep all your money on the exchanges

thanks for the tips

first, i want to say that this is my first reply on Steemit! i trade mainly on Binance so this is an inconvenience. the plus side is that i do not have a lot of money, so i cant really do much trading because its tide up in my "HODL"ings. either way, i am not too upset as long as the situation is actually how its been presented. If it was a hack (which i dont believe they would lie about because it would come out eventually) then i might be more concerned.