Traders frustrated after Binance fails to handle peak load during price pump

02 Apr, 2019 | Updated: 02 Apr, 2019
by Richard Allen
Traders frustrated after Binance fails to handle peak load during price pump

Bitcoin’s recent rally resulted in an influx of traders looking to capitalize on the price gain. However, some Binance users were left frustrated after they were unable to execute as the exchange suffered server issues.

Binance CEO Changpeng ‘CZ’ Zhao tweeted several hours ago asking the crypto community if they had any idea what caused the unexpected price surge in Bitcoin. One user responded by saying “Yes, that the user experience of your site is utterly garbage.”

Another user states that they “lost 4 – 4.5% because the site was in molasses.” They added that since Binance is the biggest exchange in the world ranked by trading volume, could they not afford to buy more servers to handle the peak load?

This sentiment was echoed by several other traders, asking why Binance was unable to handle the load. CZ responded, explaining that Binance was never trying to save a few bucks by cutting server costs. Part of the system that was supposed to auto-scale didn’t, but the issue should be fixed by now.

Read more: Binance CZ on Bitcoin pump: 'Money ready to jump in, all in FOMO mode'

Many were unsatisfied with the CEO’s answer, however, stating that this isn’t the first time it happened. One user states Binance should funnel fewer resources into Launchpad and focus on fixing these kinds of issues.

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Read more: Binance adds new NANO and OMG trading pairs

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