Coinbase Services are Temporarily Down

Joshua Ramos
Source: TechStory

With some users having difficulty on the platform, it has just been announced that several Coinbase services are temporarily down. Coinbase Support team took to Twitter to explain the current issues.

According to Coinbase Status, the website is reportedly experiencing several outages and connectivity issues. The origin is unclear, but it is tied to network connection issues that the platform is currently investigating.

Coinbase is among the most well-known cryptocurrency exchange platforms on the planet. A trusted environment that offers cryptocurrency investment tools to users, it sports some of the biggest offerings of cryptocurrencies available.

The current connectivity issues have no source, with the platform releasing a statement on Twitter regarding outages. Coinbase Support noted that connection issues were occurring throughout the website, including Coinbase Pro, and Coinbase Prime. Users are having trouble logging onto the platform, and are also having issues with network speed when they do get through.

Coinbase Status noted that, due to connectivity issues, BVS withdrawals are temporarily unavailable. The website has assured that the issues are currently being tackled, although no timeline for its restoration to full capacity has been reported.

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COIN Falling Price

The publicly traded company is experiencing a bit of a tumultuous period. Volatility is often built into the structure of cryptocurrency investments, but Coinbase’s stock (NASDAQ: COIN) has seen a significant price downturn since it was released in April 2021.

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Today alone had seen COIN trade 12% lower before recouping most of the loss by midday. This fluctuation came after news had arisen from Germany’s Financial Regulators about questions regarding Coinbase Germany’s adherence to regulation.

Still, Coinbase remains a fixture in the cryptocurrency market and is relied upon heavily by those involved. Moreover, the current connectivity issues that are affecting the platform are a cause for concern for many.