The way the digital market is expanding, more and more people are gaining interest towards virtual currencies. When demand rises it’s hard for users to accept worse performances from applications that aid them in difficult times. One of the major cryptocurrency exchange Coinbase is a leading example of this issue right now.
San Francisco- based cryptocurrency exchange has been going through a tough time. A few days’ backs, the exchange confronted on its status page over the delays the company is facing.
Although this issue is not limited to just one exchange. There are many cryptocurrency exchanges facing the common issue. The last few weeks have seen an unprecedented increase in the price of digital currencies. Many new users have registered and as a result, it does create stress over the systems.
Coinbase reported that users are furthermore experiencing degraded performance for both BTC and ETH.
The Coinbase team finds high traffic, high volumes and a need to cope with a backlog of transactions responsible for such delays.
Last month, in a blog post, Coinbase stated, “There may be downtime which can impact your ability to trade. We wanted to remind customers that access to Coinbase services may become degraded or unavailable during times of significant volatility or volume.”
Also, earlier in September, Coinbase made some efforts for its users to reach out to them. The company increased the size of its support team by 640% and launched phone support. Even processing transactions during peak hours were increased by over 40x.
On one end, Coinbase is making efforts to grab more users to its account. The other side, common users are getting frustrated. The Coinbase Reddit Forum is dominated by complaints regarding delays and lack of proper answers for support. Users are calling on the company to resolve their issue and take stronger actions or else they’ll go public. Some higher-profile members of the bitcoin community have even taken a step forward. Using social media, they have even tried to threaten Coinbase with legal actions if concerns not met.