Coinbase will be temporarily offline this weekend: should users worry?

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Customers of the largest cryptocurrency exchange will encounter some issues later this week. This article analyzes the cause of the interruption and provides additional important details.

Coinbase problem over the weekend?

The leading U.S.-based cryptocurrency exchange, which has over 100 million users, announced on X that it will be temporarily offline on October 25th at approximately 7 a.m. Pacific Time due to a scheduled system upgrade.

“All trades (excluding INTX perpetual futures)” Coinbase.com (Simple and Advanced Trading), Coinbase Exchange, and Coinbase Prime will no longer be available. All transfers will be unavailable on Coinbase Exchange and any transfers in progress will be delayed,” the disclosure reads.

The company’s team advised people to follow official accounts on social media platforms for updates on this issue and promised to post reminders and details on designated websites.

Some users who commented on the post complained that upgrades happen over the weekend, while others complained that such outages happen quite often.

It is important to note that the largest cryptocurrency exchange, Binance, has also recently suffered severe turmoil. During the market crash on October 10, multiple users reported errors and technical glitches, and some were unable to place orders for a while.

Shortly after, the company set up a multi-million dollar fund to compensate affected customers, citing rapid market fluctuations as the cause of operational disruptions.

Coinbase’s recent listing

Earlier this month, the exchange put Binance Coin (BNB) on its roadmap. This section consists of cryptocurrencies that can be officially listed if they meet certain criteria. This move was somewhat surprising as BNB is the native token of its biggest competitor, Binance.