Bitcoin Price Hike Benefits The Coinbase App
Blockchain

Bitcoin Trading App, Coinbase Grabs The Top Spot At App Store While Users Struggles To Sign In

The users were unable to make bitcoin transaction for hours due to downtime

https://dk2dyle8k4h9a.cloudfront.net/Bitcoin Trading App, Coinbase Grabs The Top Spot At App Store While Users Struggles To Sign In

Bitcoins, the cryptocurrency which is getting an enormous amount of hit nowadays and topping the tech news chart everywhere. Seems like the buzz is not only hiking the bitcoin price but also made Coinbase rank top in the Apple’s App Store. The app is used to access the digital wallet for buying and selling bitcoins by its users have become the most downloaded app on iOS.

On Thursday, the app topped the Apple’s App Store in the US among the free iOS apps when millions of people downloaded it. The app is known as the best approach for converting a simple money into cryptocurrency and let the users manage their account seamlessly. Coinbase hits the top spot in Apple’s US App Store after the price of the bitcoins hiked by 20 percent and crosses $17000 in 24 hours.

 

 

However, the huge downloads brought an enormous number of the user to the Coinbase server which was unable to manage them all while the price of bitcoin changed widely. Many users complained that they were facing the issue while using the app. Where some people not able to sell or buy the bitcoins others were not even getting through the logging page. The app started to hang and showing an unexpected error due to a heavy load on the server. The issue lasted for hours and users were not connected to their bitcoin wallet for long. The website of the company was also unavailable for the users due to the same reason and went down for maintenance. Taking the matter seriously the company addresses the issue to the users and explained “currently experiencing record high traffic. This is resulting in some customers having slow performance or issues logging into their Coinbase accounts. We are actively working to resolve this as quickly as possible.”

Bitcoin Apps

New York Times has released a report today which shows that Coinbase had 5.5 million in the begging of the year and within a period of 11 months the company has doubled its customer database. The company has 13.5 million users by the end November according to the New York Times.  More than 10,000 customers have been signing up on the platform every day and now, Coinbase has more accounts than Charles Schwab bank.

The sudden increase number of people interested in buying bitcoins leads to the demand for a reliable platform. This puts the Coinbase under pressure by its millions of users willing to buy and sells bitcoins. The price of the bitcoins has changed dramatically in recent weeks, a bitcoin was worth $1,000 in January 2017 and this week jumped over $19000 before falling back to $16000. The price of bitcoin at the time of writing this blog was $16489.21 and you can check the updated price here.

Akash Singh Chauhan
Written By
Akash Singh Chauhan

Akash Singh Chauhan is a senior writer at MobileAppDaily and he mainly covers all the latest happenings and tweaks in mobile app technology. Being an Engineering graduate he is always compelled to the technology and tries to discover new trends in the tech world. Along with any tech news he also never misses a single episode of ‘Dragon Ball’.

Top Companies

InMobi
Singapore
Dot Com Infoway
New York, USA
M&C Saatchi Mobile
New York City, USA
Techmagnate
New Delhi, India
Fetch
London, UK
View full report

Latest Articles

Join our global community 135K Followers
Blockchain

Israel Bitcoin Summit 2019: Future Of Blockchain & Cryptocurrencies

Tanya Singh 4 min read  

The Bitcoin Summit can be easily referred to as one of the biggest conferences held specifically for cryptocurrency holders and organizations that belong to the industry sector of Blockchain in Israel.Every year this bitcoin summit attracts hundreds and thousands of attendees, delegates and comp

Blockchain

Bitcoins for $1? All Thanks To Walmart

Vikram Khajuria 2 min read  

We all know, what worth a Bitcoin is holding right now. Currently, one Bitcoin equals to USD 6,283.30, which of course is a staggering sum for a single Bitcoin. In December, the value of one Bitcoin surpassed USD 20,000, which took the world by storm. Now, what if someone sells you 1 Bitcoin for $1?

Blockchain

Blockchain In Healthcare Industry: A Game Changer

Meenakshi Mamgai 4 min read  

Blockchain has become a buzzword in the tech business and of course, for good reasons. Other than giving the basic establishment for creating cryptocurrency area, it additionally has the ability to change how organizations work. It can be decentralized plans of action, make more productive procedure

Blockchain

Top 3 Technologically Advanced Cryptocurrencies And Where To Buy Them?

Vikram Khajuria 2 min read  

It's difficult to determine the most 'technologically advanced cryptocurrencies'. The cryptocurrency industry is full of innovative projects. New tokens being introduced all the time, claiming to have the most advanced blockchain technology in the world. As the newly launched ones are ye