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+--- Thread: Binance going down at important moments (/showthread.php?tid=6141335)
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Binance going down at important moments - BΛΛZ - Feb 22, 2021
A lot of people, including me, just lost a lot of money because of this Binance outage ($0 balance and no positions visible on futures). It happened a few days ago as well, when BTC had that huge rise. This really isn't acceptable anymore. Anyone have a good alternative? I've seen some good things about FTX.
RE: Binance going down at important moments - Misery - Feb 22, 2021
While not an alternative, I noticed that Coinbase Pro stayed afloat during this dip. While Binance was down, and so was their API, CB handled all my trades.
RE: Binance going down at important moments - BaldCunt - Feb 22, 2021
(Feb 22, 2021 07:49 AM)BΛΛZ Wrote: A lot of people, including me, just lost a lot of money because of this Binance outage ($0 balance and no positions visible on futures). It happened a few days ago as well, when BTC had that huge rise. This really isn't acceptable anymore. Anyone have a good alternative? I've seen some good things about FTX.
The same thing happened to me :((
Transferred around 250 USD and only got 62$ credited
RE: Binance going down at important moments - her0. - Feb 22, 2021
I haven't gotten my security email verification in weeks lol... cant access my account
RE: Binance going down at important moments - ingenious - Feb 22, 2021
I am so pissed off man.
This is not the first time it has happened
RE: Binance going down at important moments - BΛΛZ - Feb 22, 2021
Just did some research, looks like Orion Protocol is a project aimed at solving the problem of outages from all kinds of exchanges. Not sure if it's going to be a big thing, but I signed up just in case. Looks like it has a decent amount of partners.
RE: Binance going down at important moments - SIM-1866423 - Feb 22, 2021
Unfortunately they are cant handle overloading and getting issues about sync all the time.I am keeping some money always on binance because of this, i know its sucks but sometimes at bull run almost every market is unable to usage.
RE: Binance going down at important moments - ๖ۣۜÑåzgйŀ - Feb 22, 2021
keep some money on BinanceDEX
https://www.binance.org/en/unlock
when binance goes down the DEX is always online If i need to do trades I can simply use that
also the fee is only 0.04% in BNB pretty cheap compared to 0.075 % on binance
RE: Binance going down at important moments - Neon™ - Feb 22, 2021
Damn they going the Coinbase path with these outages... I experienced that too earlier today.
RE: Binance going down at important moments - T0Bi - Feb 22, 2021
(Feb 22, 2021 07:49 AM)BΛΛZ Wrote: A lot of people, including me, just lost a lot of money because of this Binance outage ($0 balance and no positions visible on futures). It happened a few days ago as well, when BTC had that huge rise. This really isn't acceptable anymore. Anyone have a good alternative? I've seen some good things about FTX.
May I ask how you lost your money?
Liquidated? Playing with leverage? No stoploss?
RE: Binance going down at important moments - popZmoke - Feb 22, 2021
Bybit is legit the #1 exchange atm if you're trading mainly BTC and ETH. Check em out.
RE: Binance going down at important moments - BΛΛZ - Feb 22, 2021
(Feb 22, 2021 04:15 PM)T0Bi Wrote: May I ask how you lost your money?
Liquidated? Playing with leverage? No stoploss?
Had a short on BTC, and wanted to take profits manually, since market was so unpredictable. Thought I took profits, since my position disappeared but didn't know, since I couldn't see my balance. Once things started working again, the position reappeared, now in the red (instead of 50%+ profit). You could of course blame me for not setting a take profit/stoploss, but I was watching the market the entire time. There's no way this could've gone wrong if Binance didn't black out.
RE: Binance going down at important moments - T0Bi - Feb 22, 2021
(Feb 22, 2021 05:09 PM)BΛΛZ Wrote: Had a short on BTC, and wanted to take profits manually, since market was so unpredictable. Thought I took profits, since my position disappeared but didn't know, since I couldn't see my balance. Once things started working again, the position reappeared, now in the red (instead of 50%+ profit). You could of course blame me for not setting a take profit/stoploss, but I was watching the market the entire time. There's no way this could've gone wrong if Binance didn't black out.
Well, imo you should ALWAYS set a stoploss and take profit order, even if you're watching live, because successfull traders trade by rules not by what they feel like. Take out the emotion.
That's just my opinion though.
What you should've known though is that Binance regularly has blackouts when the market makes extreme moves. Not the first time, won't be the last time.
And with that knowledge, a stoploss is a must, especially when shorting.
Sucks even more so that it could've been a profitable trade.. Now it's an expensive lesson.
RE: Binance going down at important moments - Ace Boogie - Feb 22, 2021
(Feb 22, 2021 05:17 PM)T0Bi Wrote: Well, imo you should ALWAYS set a stoploss and take profit order, even if you're watching live, because successfull traders trade by rules not by what they feel like. Take out the emotion.
That's just my opinion though.
What you should've known though is that Binance regularly has blackouts when the market makes extreme moves. Not the first time, won't be the last time.
And with that knowledge, a stoploss is a must, especially when shorting.
Sucks even more so that it could've been a profitable trade.. Now it's an expensive lesson.
Can a stop loss even protect you from a blackout?
RE: Binance going down at important moments - T0Bi - Feb 22, 2021
(Feb 22, 2021 05:19 PM)Ace Boogie Wrote: Can a stop loss even protect you from a blackout?
Not sure to be honest, but maybe. I think they're still processing the trades. It's just that the frontend is slow/not working.
I'll have to check my bot if it received price updates via websocket.