When you are trading the cryptocurrency the timing should be perfect. As the price of these currencies is volatile and make you profit or loss in no time. When the Coinbase Disabled Litecoin it made a lot of buyers irritate. In this, we are going to discuss what was the reason for that and can it happen again in the future?
When you want to trade the cryptocurrency there is a need to have an exchange which is reliable and fast which can be expected from the coinbase. By using this exchange you can trade the different currencies all around the world. The best part of the coinbase is that it provides the security features which are user-friendly and can be used by the new users as well.
Litecoin is the open source cryptocurrency that came into the existence in the year 2011. You can also consider it as an upgrade version of the bitcoin. As the time taken by it to process the blockchain is 2:30 minutes which is 4 times faster than bitcoin. It uses the proof-of-work algorithm which makes it a better option than the bitcoin.
Coinbase Disabled Litecoin
When you are trading on the coinbase you can expect the smooth running of the transaction. This makes it a perfect platform for the trade of the cryptocurrencies. But there was an instance which made buyers uncomfortable, that was in the year 2017. In this time period, buyers were expecting the hike in the price of the litecoin and waiting for the right time. But the coinbase suspended the trade of the litecoin during that period which cost the traders the opportunity to earn the money.
The reason was given by the coinbase and that was – it went down due to the technical glitch which happened during the maintenance procedure. This type of problem is acceptable by the users but in the future, they should warn the users before doing this kind of procedure.
But to get that right it took the platform, hours to resolve the issue which cost the buyers a lot of money who were totally dependent on the coinbase. The solution for this kind of problem is to have an account on other platforms as well. So that you have the options to buy the currency from the platform which gives a better option.
Can it happen again
You are working on the technology which needs the improvement from time to time. This is the similar case with the coinbase. If you are expecting the security which can protect you from getting your money stolen then you should understand the problems like this.
As without getting the upgrade the software which is running the program will become vulnerable to the attacks. So you should be ready to happen in the future also. It is better to lose some profit then losing all the money you have.
So now you know the reason behind the Coinbase Litecoin Disable. If you have any doubt or
problem like this then you should not worry about it as this type of issues are resolved by the