Hi, folks! How are you?
I know we were all shocked with the unexpected temporary access issue on various exchange platforms, including Binance, Coinbase Pro and KuCoin. Believe me, it would be one of the most frustrating parts of your crypto journey. And these platforms should be kept reliable with whatever effect the users would go through.
As one of the largest aforementioned exchanges, KuCoin, my god tier platform of all time, has also been inaccessible for more than an hour. They released a statement the day after the said issue happened. According to KuCoin, there has been a big surge in traffic brought about by the sudden movement of the market. Because of this, some services on KuCoin went temporarily unavailable around 14:50 (UTC) in some regions. Luckily, it only lasted for 10 - 15 minutes on my end, however, I read a lot of concerns about this matter.
Here’s the truth you need to swallow, cryptocurrency is a very risky investment. It is decentralized and volatile, and so, you must know that these errors are impossible to avoid. Nonetheless, you may control how you smartly respond to these kinds of situations.
I’ll share with you three simple tips to properly handle these instances. Take note, however, that these are just based on my personal experience.
1. Think fast, but stay calm. Your anger won’t solve anything.
2. Do not use your time in ranting on social media. Instead, contact the support of your platform. I once had an issue, and they actively responded. Send your requests here.
3. Try checking your other platforms if it is really the network who’s lagging or your mobile phone. You may also check your internet connection, connectivity etc.
Again, these platforms have been spoon feeding a lot of good opportunities to its users for quite some time now. As a response to this issue, KuCoin actually initiated to gather all the concerns thru this form. These situations are hard to avoid, but with the help of each other, we can make things work.
For KuCoin, hear us out. Listen to your users’ sentiments and opinions because this will greatly affect how you handle your community. Thank you!
