Crypto trading halts after Binance outage

The world’s largest cryptocurrency exchange platform, Binance Holdings briefly suspended withdrawals on Monday

Binance made the announcement on Twitter that the exchange was offline. The outage occurred for about half an hour before the service returned online.

What is Binance?

Binance is the world’s largest cryptocurrency exchange, where users can buy, swap and sell crypto.

The company is run out of Asia and has been attracting over 300 thousand new users every day.

Crypto faces technical difficulties

Trading disruptions are a common occurrence within the crypto-sphere, where exchanges operate without traditional regulations.

However, experts have raised concerns about the frequency of outages, particularly at a time when thousands of new users are signing up to platforms – like Binance and Coinbase.

This follows the Bank of England Governor issuing a warning to investors last week, saying “buy them only if you’re prepared to lose all of your money.”

SHIB coin joins crypto forces

Recently, Binance welcomed SHIB coin to their exchange platform.

The SHIB Token is an ERC-20, compatible with the Ethereum network. According to Shiba’s founders, they are currently ranked as the 15th currency with a market cap of about $35 billion.

It’s also been listed on many large crypto exchange platforms according to CoinMarketCap.