Binance, Bitfinex And Bittrex Are Temporarily Ditching New Users

The surging price of cryptocurrencies has made the demand reach the point when crypto exchanges are completely swamped. This has just happened to three big names in the crypto exchange world – Binance, Bitfinex and Bittrex.

These three have been ditching new users temporarily over the past couple of days – even though they reached 250,000 users per day in 2017 and a lot of signups. The halt happened the moment they experienced major usability problems at the end of 2017.

According to official statements by Bittrex, the company said that the halt is due to the “enormous number of account registrations over the past few weeks.”

In addition to Bittrex, two other platforms including the names of Bitfinex and Binance decided to take the plunge too and restrict new signups. There is a window stating that new account creation is paused on both exchanges. The complete statement says:

“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.”

At this point, it is still early to talk about what will happen in the future. However, perhaps we should expect a split and more exchanges that will be ready to take the new users interested to invest in cryptocurrencies in 2018.