How to Continue Trading Next Time Coinbase and Binance Are Down

As reported in Fortune, Coindesk, and others recently, both Coinbase and Binance traders grappled with serious service outages earlier this week. That’s bad news for traders, adding to the woes of the recent downturn in asset values. 

Professional traders and institutions cannot afford to lose service, especially during the periods of high volatility that seem to be the source of the congestion across networks and exchanges. Traders lost access just as the most profitable opportunities emerged. 

Imagine the frustration as millions of dollars of profitable trade opportunities came and went. It’s like sending firefighters to battle an emergency without fire trucks. Or water.

Redundancy, failover, and disaster recovery are all top of mind for CTOs and CIOs, and even more so today, across exchanges and trading firms alike.

The problem is clear, but what is the right solution? At the crypto exchange level, platforms must continue to improve to achieve the speed and reliability of today’s traditional stock exchanges. What can professional traders do while waiting, actually hoping that technology upgrades will make such problems disappear?

The outages plaguing single exchanges are yet another proof point that showcases a clear need for a unified platform that can connect multiple exchanges via a single interface or set of APIs. Such a platform could deliver the best global prices, deeper, global liquidity, higher utilization, lower fees, and lower management costs. And better uptime. In a nutshell, it would deliver more profitable trading, with ‘failover’ to alternative exchanges if needed.

Could this platform be coming? Stay tuned for a major announcement from Apifiny next week.