The cryptocurrency market is one of the trendiest markets at the present time. People from entire regions of the world are impressed to invest and trade digital currencies on a regular basis. Among various currencies, Bitcoins and dogecoins are getting the topmost preference of the investors. Bitcoin has always been in people’s use for many years, which is the only reason its value has risen to such a huge amount. Dogecoin is the same currency that was launched as a joke in 2013. Bitcoin has been in the rising trend from the last year, but Dogecoin has given an unexpected return of around 1000 percent this month. This has only become possible because billionaires, celebrities have supported digital currency and Indian lottery apps.
Celebrities have brought these digital currencies in trend.
- In the last few weeks, Elon Musk and Dallas Mavericks firstly mentioned cryptocurrencies. Later on, rapper Snoop Dogg also jumped on the Dogecoin along with other celebrities, Kiss Singer Gene Simmons. They all have contributed to the boost up the growth of cryptocurrencies which is really a great thing. You can better details about it at cfds-trader.com
- It is really a great thing that cryptocurrencies are getting good attention in the entire world, and even a huge number of people have invested in this digital currency. More and more people from India invest in this digital currency, but these individuals are facing a lot of issues at the trading platform. It is really disappointing them because they are not able to transact for bitcoin because of payment failures, and still, after so many days, there is no step taken to deal with this issue.
- The key reasons that are leading to such type of issue are the lack of advanced infrastructure and the underdevelopment of the platform, which is because they are not able to handle the high traffic of traders. The most serious issue is that banking institutions are not coordinating with the trading platforms, which has been the main cause. You would surely have heard about the sudden crash of the WazirX, which is India’s top-rated digital crypto trading. This happened when the Dogecoin touched its highest at Rs.48.
- There are many people who complain about this issue on social media as they missed the chance of making good gains because they could not make a payment, which was really very disappointing for them. Other people mentioned that they were not even a bel to add the payments for investing in dogecoins and were tired of having several tries at that time.
- After few hours of Crash of WazirX, Nischal Shetty, who is the CEO of the platform, claimed that the experts are working with their full potential to deal with this issue. He tweeted that team is working on improving the trading experience of Doge/INR, but the other markets are working in an acceptable manner. The users can trade for the other digital currencies as there is no issue with them. The team is trying well and will not rest until they get an assurity of getting it resolved. Everyone should understand the fact the crash has not occurred due to high traffic as some users were also facing this issue on normal days, and it is just because of technical error.
What about the other trading platforms?
The issue is not limited to WazirX, but other trading platforms are also going through such issues at the present time. The Shocking news revealed that Coinswitch Kuber has immediately stopped the payments in the form of INR. Now the individual will not be able to use the INR, no matter if they are using UPI payment or banking-based transactions.
This has occurred due to some issue with the banking partners which there is no idea when the INR payment mode will be enabled. The team is trying their best to deal with this inconvenience and has kept it as their top priority to offer the least possible disappointment to the potential users. As soon as the system is corrected, they will tweet so that users will able to transact using the Indian currency again.