Coinbase, Binance Go Down Amid Crypto Crash, Highlighting Appeal of Decentralized Exchanges | Crypto Craft

  • Coinbase, Binance Go Down Amid Crypto Crash, Highlighting Appeal of Decentralized Exchanges

    From decrypt.co

    Several large cryptocurrency exchanges had trouble staying open during Wednesday's market crash, which saw Bitcoin and Ethereum lose 30% and 40% of their value, respectively, in 24 hours. Leading US exchange Coinbase reported "intermittent downtime" throughout the morning, while globally popular exchange Binance paused Ethereum-related token withdrawals, Gemini reportedly experienced lag times, and Kraken noted user "connectivity issues." Decentralized exchanges managed to stay up despite the high trading volumes generated by today's selloff. tweet Centralized exchanges such as Coinbase allow people to buy, sell, ... (full story)

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Goat
May 19, 2021 8:38pm
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Quoting cryptocow
{quote} The author never called Coinbase a “decentralized exchange”. The “appeal of decentralized exchanges” is in reference to decentralized systems like Uniswap, where the entire OTC market is run on the Ethereum blockchain.
Whoops. I'm an idiot. Thank you
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Goat
May 19, 2021 5:33pm — Edited
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Edit: Misread the article (ie failure to read).
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cryptocow
May 19, 2021 6:02pm
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Quoting Goat
Coinbase is not a "decentralized exchange", they are a broker.
The author never called Coinbase a “decentralized exchange”.

The “appeal of decentralized exchanges” is in reference to decentralized systems like Uniswap, where the entire OTC market is run on the Ethereum blockchain.
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