Binance Temporarly suspends Spot Trading

[ene1980]

When the market looks like moving higher without any negative news, we have one with Binance as they have temporarily suspended spot trading citing server issues. Not sure about the real situation but hopefully we might see a correction from this position simply because of Binance.

Source of this news is from their official blog, so it is not a speculation  .

Edit: Withdrawal is currently not available. Anyone facing the same issue.

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[SaShiRaJaVu]

Trading is back to normal and they stopped withdrawal when maintenance was going on which caused some panic in social media, you can start withdrawing and with FTX and recent bank failures everyone is getting spooked easily .

[YOSHIE]

Edit: Withdrawal is currently not available. Anyone facing the same issue.

Yes, we have notification about Binance Suspends Spot Trading Due to Technical Bug, by reason of Technical Bug.
But today Spot Trading is back to normal as it can be.

Crypto exchange Binance was forced to suspend all spot trading on Friday following the discovery of a technical glitch.

Maybe you can try to do Spot trading again on Binance.

Once the Binance team fixes the software and trading goes back to normal, I hope it doesn't happen again like before, I hope Binance is doing well even though the crypto price in the market is skyrocketing, there are no updates that upset users and generate negative feedback.

[virasog]

Maybe you can try to do Spot trading again on Binance.

Once the Binance team fixes the software and trading goes back to normal, I hope it doesn't happen again like before,

Yes, Binance spot trading was fixed on that date and but i think there is something to worry about here. What should we do now?

I guess everyone should check their Binance wallet and see how much funds they have in there. Think for a moment that Binance stops withdrawals , ceases operation and never comes back, would you afford to lose those funds? If yes, take action immediately and withdraw extra non-trading funds off the Binance exchange and move into your personal wallet.

I hope it doesn't happen again like before, I hope Binance is doing well even though the crypto price in the market is skyrocketing, there are no updates that upset users and generate negative feedback.

Remember FTX was doing well too and there was no negative feedback about that exchange until one day it disappeared. The centralized exchanges won't give us the chance to withdraw and may scam suddenly.

[sunsilk]

We might see the same scenario most oftenly when the bull run comes again. These exchanges will certainly pause trading and withdrawals when we're in a bull run and will hide the real reason for that like there's a server issue or needs for some time to give it for their usual maintenance.

And to note that, it just didn't happened once and it was actually on those bull run moments. So, this could be a pilot testing and we don't know if the same thing could occur again but it's very likely.

Keep your funds safe and only get on exchanges when it's necessary to trade. Even it is Binance, they're still centralized.