Several Bitcoin Exchanges Are Closing Their Doors To New Traders

Large volumes of new customers begging you to take their money are the best type of problem any business can have. Still, Bitcoin exchanges now have to deal with such a situation by looking for ways to reduce the burden. As a result, exchanges are closing their doors to new traders.

Try Again Next Year

Whether you’re trying to break into the Bitcoin world for the first time or are a seasoned investor trying to diversify your trading venues, there’s likely to be a lot of space these days. You have noticed that it is not easy to open an account with many exchanges. These companies are overwhelmed with apps and their support teams fail to deliver on time. There are a number of businesses that have stopped accepting new customers for the time being in order to dissolve existing businesses.

Crypto Exchanges Close Their Doors to New Traders

Bittrex has considered previously reported users’ complaints and decided to stop new registrations. He wrote: “We are excited to have so many new users willing 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 similarly explains the suspension of new registrations: “Every day, a large number of users are signing up on our exchange … this puts additional pressure on our support and verification teams. We are currently at a critical point in the number of tickets submitted to our support team.. ”

And Bitfinex sent the following message to anyone trying to sign up: “We have decided to temporarily stop accepting new accounts because our system is new, with new accounts we cannot undermine the quality of our services for our existing traders.”

Disgraceful Service

Other exchanges may not have announced a clear decision to stop accepting new customers, but many people complain that these issues occur because their practices are not handled with care. If you wait on the line indefinitely while the price of Bitcoin rises, it will bother you.

Meanwhile, quickly burdening a large number of new customers has made the regular service for purchases much more challenging. For example, Kraken said: “Performance is extremely deteriorated and unreliable. Customers may experience significant delay and difficulty interacting with all web and API services. Requests often time out and fail. Currently the only solution for new leads is to wait and try again later.”

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