undergroundnewsroom.com March 21, 2018

Coinbase Site Down: Trading Platform Experiences Outages As Bitcoin Price Skyrockets

10 December 2017, 04:49 | Gordon Grant

Illustration by Alex Castro The Verge

Illustration by Alex Castro  The Verge

Bitcoin may be digital currency, but why would anyone spend it? Coinbase said users had trouble logging in because of record-high traffic.

As the Bitcoin's value keeps on surging exchanging near $15,000, Coinbase has effectively secured the best position in Apple's application store in the USA, as its most downloaded one in the region.

After all, bitcoin's rapidly spiking price is causing a bit of a mania, with lots of first-time investors seeing the large price swings and seeing a chance to play the cryptocurrency market.

Additionally, Coinbase reported experiencing issues with its identification verification system-a tool that is used to authenticate new users, who are required to show a form of identification when setting up an account.

Coinbase, the largest platform for buying and selling cryptocurrencies in the United States, has experienced several outages as the price of bitcoin has skyrocketed to new highs. Coindesk's bitcoin price index now has the cryptocurrency trading around $16,000.

Google Maps Gets Motorcycle Mode in India
This is not the first time that Google has rolled out India first features before rolling it out for the rest of the world. In a similar situation, a auto owner would navigate to his destination using Google Maps .

Forecasters bump up projected snow totals for Saturday
A Winter Weather Advisory is in place for Hillsborough County and surrounding areas starting 11 a.m. on December 9 until 3 p.m. Farther south into Maryland, the accumulation grew, where Salisbury, Fruitland and Delmar all saw at least 7 inches of snow.

Australian Parliament permits same-sex marriages
According to a survey, 62% of Australians supported the legalization of same-sex marriages. Gay couples who tied the knot overseas will now have their unions officially recognised.

The site on the web was in an offline mode and out of order, according to TechCrunch.

Coinbase, the popular wallet app that facilities the usage of cryptocurrencies like Bitcoin, Litecoin and Ethereum, has skyrocketed up the iOS app charts this week. "We're glad to have expanded to the U.S. at this time with so much interest due to the impending Bitcoin futures launches", bitFlyer COO Bartek Ringwelski, said in an email.

Coinbase isn't the only cryptocurrency to have collapsed under pressure at the last minute.

International Business Times reached out to Coinbase regarding the price difference but did not receive a response at the time of publication.

Coinbase is definitely benefiting from the infatuation with bitcoin. What that meant was that the rate got magnified by over 20% in the course of a single day. Bitcoin has risen more than 2,100 percent since then.

Other News

Trending Now

Israeli Army Strikes Targets In Gaza In Response To Rocket Fire
The IDF blasted back at Hamas positions in the Gaza Strip Thursday evening, following Palestinian rocket fire at Israel . There was no initial claim of responsibility from any militant groups in the Gaza Strip for the launchings.

Protesters picket Verizon in Times Square over 'net neutrality'
In an interview on NPR's 1A , FCC Commissioner Brendan Carr said consumers won't be hurt by the ending of net neutrality . Net neutrality refers to the concept of internet service providers, or ISPs, treating all internet traffic equally.

Soulcalibur VI Gets First Details Following Game Awards Announcement
Now the fact that the game has VI in the title means it is a continuation of the franchise, so it might not be a direct reboot. The weapons and character roster is apparently "stellar" and even more so when "combined with a simple control layout".

Facebook's Messenger Kids: Parents grapple with social media dilemma
The outage follows a similar problem for Facebook Messenger on November 30, when users reported being unable to send messages. Balkam also stated that the millions of kids under 13 are already on Facebook, with or without their parents' approval.

Top UN official meets North Korean Foreign Minister
Feltman's visit to the North was made known in Pyongyang's state media on Friday, South Korean television network SBS reported. Such ties with North Korea include military training, and the import and export of weapons.

Southern California's wildfire siege in photos
The eastbound 210 Freeway exits at Osborne Avenue, Wheatland Avenue, Sunland Boulevard, and La Tuna Canyon Road are also closed. Virginia Padilla, whose family owns a ranch in Sylmar, told reporters the fire killed at least 30 of the ranch's horses.

Can you hear it? Prime TV app suffers Dolby 5.1 hearing loss
If they manage to reach an agreement chances are you will still get to watch YouTube on Amazon devices after December 31st. The beginning of service fulfilled the promise made by Apple CEO Tim Cook during a conference in June this year.

Death Stranding's New Trailer is Beautifully Bizarre
Despite the scarcity of information, " Death Stranding " is reportedly still in development for Sony's PlayStation 4. Norman Reedus doesn't mention much in the trailer but his acting skills just shines through even in a in-game format.

Twitter reacts to Sen. Al Franken's resignation announcement
Dayton said he would make his appointment "in a couple of days". "And that means Senator Franken should step down". Al Franken announced his resignation from the Senate on Thursday amid multiple allegations of sexual misconduct.

Flynn said sanctions would be 'ripped up'
Two days after the election , Obama warned Trump not to hire Flynn, CNN reported. Flynn's attorney did not immediately respond to a request for comment.