Bitcoin sales have been in the news a lot lately. More people than ever are starting to invest in cryptocurrencies, such as Bitcoin, and this has led to an increased interest in Bitcoin exchanges. An example of a renowned digital currency platform is Coinbase exchange, but it has recently been encountering some problems. So, are there alternate platforms to Coinbase, to use for your transactions?
Coinbase is a secure online platform that is used for buying, selling and transferring digital currency as well as being a place to store it safely. It enables users to send and receive digital currencies, between online wallets, as well as with friends or merchants without added charges for the transactions.
The problems started to surface in the media with headlines including ‘Coinbase down’ and ‘Coinbase offline’ as the website appeared to have malfunctioned in some way. Bitfinex also encountered the same problem, another site similar to Coinbase. At first, the website displayed a message saying that it was down for ‘maintenance’ which later changed to a ‘minor service outage.’ It happened at the same time as Bitfinex was under a severe DDoS attack and their interface went down.
The issue highlights a growing problem with well-known cryptocurrency sites. Complaints on Coinbase about transactions and other challenges are increasing, and this latest outage will no doubt lead to users hitting the Coinbase ‘cancel order’ button and looking for alternatives for their dealings.
Bitcoin wallets and exchanges are a massive target for hackers and cybercriminals, and their vulnerability is on the rise. They have dramatically increased in value since 2011 which contributed towards the collapse of Tokyo based Bitcoin exchange Mt. Gox in 2014 – the most significant Bitcoin market at the time.
The problems with Coinbase pending transactions came about as Slovenian mining marketplace NiceHash said it had lost around $64 million of bitcoin in a hack on its payment system. News agencies attempted to contact Coinbase for further information regarding the underlying problem, but they didn’t receive a response.
These problems are the reason why many people in the cryptocurrency industry are starting to look for Coinbase alternatives. One healthy and reliable replacement for traders is the ROFX.net – the best-automated forex trading solution in the world.
ROFX is a revolutionary, new automated forex trading platform that operates using a unique neural network. The site is also the only one of its kind to offer exclusive premium features such as loss coverage to protect its users.
ROFX allows users same-day Bitcoin exchange and has one of the lowest exchange rates on the market for Bitcoin. They provide friendly and helpful customer support, making it a strong alternative.
The website opens the world of cryptocurrency trading to a whole new group of people – you don’t need specific knowledge, the ability to analyse complex foreign exchange markets or even training in the trading industry. The system allows you to skip past the trial and error method, which sees only 1% of novice traders make a profit, and instead move your trades into the top tiers by using the automated system.
Another benefit to using the ROFX system is that it uses an algorithmic system that excludes the influence of the human factor. It means people using the site can achieve consistency in their dealings, trading the plan.
It also reduces the time required to be involved in trading as the system is fully automated. Gone are the days of waiting for transactions pending or processing confirmations before you can take the next step. The system handles these elements, saving you time and increasing efficiency.
Why trust ROFX?
The problems experienced by sites like Coinbase have created distrust in traders, especially those new to the industry. While the algorithm is continuously changing at ROFX, the platform itself has been functioning since 2010, when the first ROFX robots began making successful bids that exceeded the number of unprofitable ones. Today, there are some 23,000 people around the world who use it.
Users can log into their account and monitor all the actions of the robot as they happen so while the platform is automated, the process can still be observed. It means that if you are new to the concept of trading, you can watch and learn from what is going on and gain a solid working knowledge of the industry without taking as many risks.
The company has also instituted a stop-loss system that eases the losses you can make compared to other sites. The company never uses leverage. Therefore, it doesn’t borrow money and only ever trades with its own or customers funds. It minimalizes trading risks. The company also offers a guarantee of safety of your funds so if the company suffers a loss, customers make no profits and losses are compensated for from the reserve fund held by the company. It means that ROFX customers can trade with greater security than with many other sites.