With cryptocurrencies like supposedly on the cutting edge of the financial revolution, it can be frustrating to suffer worse service and performance than you did under existing financial systems. And yet, this is exactly what’s happening right now with major cryptocurrency exchanges across the globe. San Francisco-based Coinbase, perhaps the most famous cryptocurrency exchange in the world, has experienced a number of disruptions that have affected its everyday business operations. The company’s own status page has admitted that it currently faces delays with ID verification, as well as wire processing and transaction. Coinbase has also reported that its users have experienced degraded levels of performance both for (ETH) and Bitcoin (BTC). Who is to blame for these problems? Coinbase would have us believe that it is all down to extremely high volumes of traffic and transactions, and they’re not the only ones to think so. Other digital exchanges around the world are reporting similar stories, stating that they are unable to cope with the huge influx of eager new investors and traders without suffering operational difficulties. In tune with their less well-known counterparts, the Coinbase team have announced that they are working diligently towards adding further resources to their , in an effort to optimise their existing systems and take them up to scale. Of course, until the existing infrastructure is fixed and subsequently upgraded to handle future traffic demands, their user base is making sure that everyone else knows about the problems they are facing with the service. The Coinbase forum on Reddit is a litany of complaints regarding both the length of delays and lack of support. Generally, Coinbase users are calling for the company to take stronger measures to resolve the problems that are still ongoing. Some of the bitcoin community’s high-profile members have taken to Twitter, threatening Coinbase with legal action should they fail to meet their concerns.
Users of one of the leading online cryptocurrency exchanges have complained of ongoing disruptions to service on the site. California-based Coinbase has blamed high levels of traffic for the problems, which it admits include delays with ID verification and degraded levels of service for transactions. Customers have voiced their dissatisfaction on social media sites such as Reddit and Twitter, complaining of long delays and a lack of support from the site. The company said in an email that its engineers are working around the clock to resolve the issues.