Newcomer Overload: Several Coin Exchanges Closes Their Doors to New Merchants

Some say it is good for the market, some say it will lead to a disaster. But here it is: Some well-known exchanges have stopped taking new registrations.

A large number of new customers who are begging you to take their money are the type of problem that any business would actually want to have. Still, Bitcoin stockbrokers have decided to cope with such a situation by looking for ways to reduce the load. As a result, stock exchanges are closing their doors to new traders.

Try again next year.

Whether you are an experienced investor trying to enter the Bitcoin world for the first time or trying to diversify your trade venues, you have probably noticed that it is not easy to open an account in many stock markets these days. These companies are overwhelmed with applications and the support teams fail to deliver on time. There are a number of businesses that are currently accepting new customers in order to resolve existing businesses.

Bittrex assessed the complaints of previously reported users and wrote down the decision to stop new registrations: "We are excited to have many new users who want to join the Bittrex community. Unfortunately, we have to upgrade our support and back-end systems to handle the increased traffic and load. "

CEX.IO similarly announces the same decision: "Every day, a large number of users sign up for our stock market ... which adds additional pressure to our support and verification teams. At this point, we have reached a point where the number of tickets sent to our support team is at a critical saturation point. "

Bitfinex, gave a message to everyone who are trying to sign up: "We decided to temporarily stop accepting new accounts because we can not undermine the quality of our services for our existing merchants with new accounts."

Kraken said: "Performance is extremely degraded and unreliable. Customers may experience significant latency and difficulty interacting with all web and API services. Requests are often overdue and fail. At this moment, waiting and then trying again is the only solution for new prospects ."

I would like to hear you opinions fellow Steemers: How should it be interpreted, is it good since it is a sign of a huge demand, which will eventually result in valuation of cryptocurrencies in the market, or is it a sign of a huge bubble (a one that is also poorly managed) which is about to burst?

What do you think?