In normal times this wasnt anything special that exchanges have to go down sometimes, often they didnt really announce such stuff in ie 2014. But these days if exchange is down with no notice people are mad scared, we see dumps or crazy price action.
So be aware top1 exchange in the world Binance will perform a scheduled system upgrade starting at 2019/11/25 02:00 AM (UTC). The upgrade will take approximately 2-4 hours.
So why is it important? Notice there was few crazy pumps today despite market conditions:
We may see some odd price actions on those when the exchange is down or on other pairs that had the majority of volume on Binance and coins there. During downtimes of such spot its good to be online and watch for opportunities.
BTC price action can happen also, especially that we have price action on it nonetheless.
Bots may go to do crazy bids if not turned off of not notice Binance down (ie if API stays up - which happened a few times).
Also if you need coins for moves it may be time to move them out for trading elsewhere.
So where to look for trading opportunities when Binance is down?
All of these exchanges have right away registration and you dont need to verify documents to trade bitcoin and cryptocurrency on those.
Keep eye on Margin and Future spots mostly ie BitMex or BaseFX that i was testing for last 2 weeks and can say its good.
And try spot exchange (many have margins too but need KYC):
- KuCoin - i would call it younger brother of Binance with many NEO and ETH pairs
- BiBox - amazing China exchange, similar to other two above with different coins
- BitMax - crazy overlooked by people china exchange with loads of good options
- BitForex - currently top volume exchange for USDT pairs, really overlooked
- Coinex - ETH BCH BTC EOS pairs
- COSS - many deals on ETH tokens for arbitrages
PS. Funny how most exchanges start with B or C.