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Kristina Frunze

8 January 2018

Forex

Cryptocurrency Exchanges Suspend User Registration Due to High Demand

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The cryptocurrency frenzy has caused some malfunctioning within the major cryptocurrency exchanges' infrastructures. Thus, cryptocurrency exchanges suspend user registration due to high demand.

8 January, AtoZForex We are the second week into 2018 and cryptocurrency market does not stop its rally. Following the crazy demand for some of the cryptocurrencies, digital currency exchanges are experiencing some traffic conditions. The massive inflow of users has caused major cryptocurrency exchanges to close their registration portals.

Cryptocurrency Exchanges Suspend User Registration Due to High Demand

During the last half of 2017, cryptocurrency exchanges have reported record numbers of users’ registration. Binance has posted additional 250,000 users a day, while Coinbase and Kraken have reported 100,000 and 50,000 signups per day, respectively.

The remarkable increase in cryptocurrency user numbers appeared too overwhelming for the infrastructure of numerous crypto exchanges. In fact, some even reported major usability problems, such as Kraken. This exchange has disabled some of the advanced order types, thus reducing price precision.

Another digital currency exchange, Bittrex, has emerged as one of the first crypto exchange platforms to stop onboarding new users. In December 2017, an alert from this exchange has stated:

“We have received an enormous number of new account registrations over the past few weeks.”

Bitfinex and Binance Stop Accepting New Accounts

Other two platforms have made a similar decision – Bitfinex and Binance have suspended the user registration for the moment. Part of the statement from Bitfirex reads:

“Thank you for your interest in opening a Bitfinex account. However, due to extraordinary demand, new account creation has been temporarily paused.

Bitfinex focuses on serving professional traders. The reason we have decided to temporarily stop accepting new accounts is that we cannot undermine the quality of our services for our existing traders by flooding the system with new, small accounts.”

Following on this, Binance has had to stop new user registrations due to the infrastructure update. In fact, Bittrex and Binance have not provided a specific timeline for the reopening new account registration. However, Bitfinex has stated it will accept the new signups from January 15th.

You can now register on Binance once again.

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Bitfinex Bittrex Binance Bitcoin kraken

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