<- Return to getpimp.org

Several Bitcoin Exchanges Are Closing Their Doors to New Traders


  • Staff

    Bitcoin Exchanges Are Closing Their Doors to New Traders

    A massive influx of new clients begging you to take their money is the best kind of problem any business could dream of having. Nevertheless, bitcoin exchanges are now having to cope with such a situation by finding ways to reduce the load. As as result new traders are left with fewer options as, one by one, venues have been closing their doors to clients.

    Also Read: Hit BTC Introduces Deposit Charges to Deal With High Bitcoin Fees

    Try Again Next Year

    Whether you are trying to get into the bitcoin world for the first time or are a veteran investor attempting to diversify your trading venues, you have likely noticed it isn’t easy to open an account with many exchanges these days. These companies are bombarded with applications and support teams are failing to maintain a timely service. A number of them have already given up on accepting new clients for the time being, so as to be able to handle existing business.

    Bittrex acknowledged previously reported users’ complaints and explained its decision to halt new registrations by writing that: “We are excited to have so many new users who want to join the Bittrex community. Unfortunately, we have to make a few upgrades to our support and backend systems to handle the increased traffic and load.”

    CEX.IO explains its suspension of new registrations in a similar way: “Every day, an enormous number of users registers on our exchange…this has been putting additional pressure on our support and verification teams. Currently, we’ve come to a point when the number of tickets submitted to our support team became critical.”

    <figure id="attachment_95156" style="width: 1061px" class="wp-caption aligncenter">Bitcoin Exchanges Are Closing Their Doors to New Traders

    <figcaption class="wp-caption-text">Bitfinex Sign Up Page</figcaption>

    </figure>

    And Bitfinex has this message to anyone trying to sign up: “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.”

    Degraded Service

    Bitcoin Exchanges Are Closing Their Doors to New TradersOther exchanges might not have announced an explicit decision to stop accepting new clients, but many people are complaining that this is what is happening in effect as their applications are simply not being handled. If you are waiting in line forever while the price of bitcoin is going up, the feeling can be agonizing.

    Meanwhile, having to rapidly onboard so many new clients has made providing normal service much more challenging for exchanges. Kraken for example acknowledged that: “Performance is extremely degraded and unreliable. Clients can expect severe latency and difficulty interacting with all web and API services. Requests will frequently timeout and fail. At the moment, the only solution is to wait and try again later.”

    What recent exchange issues have affected your trading? Let us know in the comments section below.


    Images courtesy of Shutterstock.


    Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history.

    The post Several Bitcoin Exchanges Are Closing Their Doors to New Traders appeared first on Bitcoin News.

    https://news.bitcoin.com/bitcoin-exchanges-closing-doors-new-traders/


Log in to reply
 



Want 10% more hash from your rigs?



We promise to keep your email safe and never spam you.



Copyright (c) 2017 PiMP LLC. All rights Reserved.

Looks like your connection to PiMP Forum was lost, please wait while we try to reconnect.