If you wanted to buy cheap Bitcoin, you should’ve been trading on BitMax. Cryptocurrency investors could buy bitcoin and other currencies for as little as 30 cents. This happened after Amazon Web Services suffered an outage. The outage affected several exchanges and caused unintentionally executed trades. Mainly Asian exchanges were hit by the outage, and BitMax was one of them.
On Bitmax investors were able to buy bitcoin for less than a dollar, while Ethereum was available for only 7 cents. BitMax cancelled all activity when these cheap bitcoin trades were discovered. Also Kucoin and Binance noticed the problems at AWS, but their trading activity wasn’t hurt by the outage.
BitMax has cancelled the option to remove coins from the exchange. It’s not known whether anybody who bought Bitcoin for just one dollar, was able to move it from the exchange. It’s possible that BitMax will cancel trades that abused the AWS outage. However, it’s still unclear why BitMax was hit by the outage in this way.
Over the past nine months demand for bitcoin has been increasing. The amount of bitcoin transactions and computing power powering the network are at all-time high levels. At the same time, adoption is happening all around us.
If you want to get into bitcoin install Lolli into your browser. This is an easy way to earn some bitcoin when you do online purchases. For example, you’ll get 3.5% of your spending back in bitcoin when you book an hotel! And you can spend your bitcoin again at more than 100.000 merchants and organizations worldwide. The travel industry is currently one of the biggest innovators in the blockchain space. This is also the case for the automotive industry and financial services.
Also published on Medium.