Gdax coinbase reddit
The price dropping from 300 to below 20 dollars and closing all open buy margin trades is a glitch.What gets me is that the price was dropped by means of very clear market manipulation, and at the time my sell took place GDAX was innacessible, and coinbase down for maintenance.
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The Ultimate Guide on How to Buy Bitcoin [Beginner-Friendly]GDAX, the cryptocurrency exchange used by Coinbase, hasadded Litecoin for dollar trading, causing a surge in its price.
GDAX | GDAX on Social MediaTransferring funds between GDAX and Coinbase May 31, 2017 Transfers between your Coinbase wallets and GDAX account are instant and free.I also had no access to GDAX, and certainly would have sold if I saw such a steep drop in progress.If there are a sufficient amount of stop loss orders and margin traders he could get back all the ETH he initially sold at very cheap prices.The way margin trading works is that you put in a deposit and borrow money so that you can buy more coins.For me the website became completely unresponsive at 3:34pm EST.Our matching engine operated as intended throughout this event and trading with advanced features like margin always carries inherent risk.Reddit is killing off access to its main source code, because open source is bad for competition.My understanding was they wanted to liquidate at any price and the huge supply on the market drove prices down until all the sales could get processed.
I believe the exchange has a duty to reflect true market prices, this error was due to a lack of liquidity and proper precautionary tactics on their end.While i feel your pain, it will not be corrected, as it isnt corrected on earlier occasions.There will always be the possibility that the orderbooks get wiped out from manipulation, but since they offer margin, the onus is on GDAX to mitigate unfair liquidation in the face of extreme price swings.
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New Coinbase verification process has some users up inSorry for your loss, hopefully you will learn from this and stay away from margin trading in the future, and may this be a warning to others.We are continuing to conduct a thorough investigation and will keep customers updated with any resulting actions.
There is no way GDAX can both protect itself and protect its risk-choosing customers from sudden events whose resolution (crash recovery or not) cannot be known at the moment of sudden change.When I came back, my margin amount was zero, and I had the following transactions under fills.A whale can just sell and then buy back everything cheap from all the people forced to liquidate.
Coinbase hopes to have it ready by January 1, 2018, which applies to GDAX as well.Users started to complain on social media recently, accusing Coinbase of holding their Bitcoin Cash hostage and not properly informing them of what the hard fork would entail, and going as far as to threaten a class action lawsuit.If you have a Coinbase account you can easily begin trading on GDAX (previously known as Coinbase.It is worth noting here that the vast majority of large exchanges do not support Bitcoin Cash at this stage, and neither do many wallets, but the list is slowly growing.In this situation simply doing nothing would have made you whole.
In a message alert to all users via the GDAX exchange and also via email, Coinbase sent out.Just came back to my computer and see that my trade triggered and then I got margin called on the whole trade because the price of Ether dropped to less than 30 dollars.Coinbase was launched in 2012 and subsequently launched Coinbase Exchange (now GDAX) in January 2015.
There is also the added problem that GDAX made user accounts inaccessible - the website went down - while this occurred, and it was their own margin call system that caused the sale during that time.I do not believe they should instantly liquidate your holdings in a margin call.
Coinbase announced on Monday the launch of margin trading on its digital currency exchange platform, GDAX, tailored for professional traders and institutional clients.