I used to think the stories of exchanges freezing were just myths until I experienced it with Bitmex sometime back and that was the last time I used it. Today, I was a victim again of this kind of freezing but this time round with Binance.
Shortly after the price had started spiking, I had some USDT in there that I wanted to convert to ETH or BTC to avoid missing the rally past $20K but logging into the Binance website wasn't even possible.
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Ftalkimg.com%2Fimages%2F2023%2F07%2F19%2FZlQfd.png&t=665&c=9v2vrI4z27yvlQ)
I made a beeline for my mobile phone since the app is already logged into my account but everything was messed up there as well. I even tried the margin trading part, nothing was working.
- The order book would delay to load and once it loaded the price range displayed was totally different from the market price
- Placing an order was impossible, Network Request Failed kept on appearing on the screen
- My wallet overview was totally blank, no total asset value displayed. All withdraw, Deposit and Transfer buttons now working
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Ftalkimg.com%2Fimages%2F2023%2F07%2F19%2FZlmAz.png&t=665&c=PapM5exIEtx3QA)
At the same time I loaded the app of the other less popular exchange I use (bybit) and It was working well which means there was nothing wrong with my internet connection.
I later managed to log in, buy the assets and withdraw them after the bitcoin price has settled a bit
Conclusion1. Avoid trading on popular or Big exchanges during times of volatility. You could easily get into trouble of making losses or getting liquidated because you can't close your position