Binance, a cryptocurrency exchange that provides a platform for trading various cryptocurrencies, has not been accessed as of today. So is BINANCE down, why isn't it working? Here is the official statement. Has Binance crashed? Binance February 19, 2021? Why is Binance not working? What is Binance?
Binance users are having problems accessing the platform as of the day. An official statement came about the incident on the agenda of social media! So is Binance down?
WHY IS BINANCE NOT WORKING? IS BINANCE BROKEN?
Binance, a cryptocurrency exchange that provides a platform for trading various cryptocurrencies, experienced a problem in the evening to access Binance.
According to Binance's announcement at 15:51, users will not be able to withdraw funds with Ethereum or Ethereum-based tokens for a short time. It was stated that there was no problem with the money kept in the wallets, and "apologized" for the problem.
Reaction from users
According to Binance's statement, withdrawals were suspended due to the intensity in the Ethereum network. Some names, who said that the Ethereum network is operating in its normal course, pointed out that other exchanges are continuing their ETH transactions smoothly. One name said he found Binance's decision "absurd".
The stock exchange announced a new announcement at 16:52, after an hour-long break, and announced that the transactions were "ongoing".
WHAT IS BINANCE?
The history of crypto currencies goes back about 11 years. The crypto money market, which started with the creation of Bitcoin, then diversified with the introduction of the term "Bitcoin Alternative" and the emergence of altcoins.
Today, there are over 6000 altcoins and there are many crypto money exchanges that enable us to invest in these altcoins. Binance is among these cryptocurrency exchanges. It was founded in 2017 through China-based Changpeng Zhao and later became the world's most used cryptocurrency exchange with its increasing trade volume.
Despite having this title, the sudden collapse of the leading crypto currency as a result of the sudden movements brings to mind the question of whether Binance has made enough technological investment. Especially for users who make instant trade, unfortunately, the crypto money exchange does not cover the losses as a result of such collapses that cause many losses. The crypto currency exchange, which is content with making a statement that is caused by a systemic error, ignores the damages of users.
