The popularity of the joke digital currency Dogecoin overtook Robinhood yesterday and today, resulting in irregular cryptocurrency order errors and late messages for certain users, according to a blog article by Robinhood.
“These interruptions aren’t acceptable to us,” Robinhood recently wrote. “We believe we’re the most intuitive crypto platform for Dogecoin traders and we’re proud to be a top choice for this community.”
This isn’t the first time Robinhood has made a blunder like this. Three massive blackouts occurred in March 2020, according to Robinhood, leading to pressure on its networks. In January, Robinhood notoriously constrained exchanges on GameStop, causing outrage across the internet and resulting in the company being criticized in front of Congress as it hadn’t scheduled for something on the size of Gamestonk.
Actually, the application is quite attractive and simple to use, but will customers stay with it if it struggles at the most critical purchasing and sale durations? If you generate profits with your Dogecoin trade matters more just than how good the application is. And if it doesn’t accept Dogecoin, there’s always the now-public Coinbase website to exchange digital currencies on.
Regrettably, the Robinhood article would not go through the technical information that may have informed people about the severity of the error or why it occurred. Robinhood refused to respond on the record outside the blog article when contacted for information.
Finally, I will beg for the Robinhood S-1, which I want in order to survive. I’d like to see what the main risk page is like, and whether these types of blackouts are important enough to have been mentioned there.