Why are traders denying new users?

[apvmoreira]

I have an account in Coinsmarket but the site is always crashing and i wanted to move to another exchange platform.

The problem is that the must trustables are denying new accounts because there's an unusual number of new users and they don't want the platforms to crush.

So, how can i trade?

[1715261821]

1715261821

[1715261821]

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[1715261821]

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[avikz]

Bitcoin has attracted a millions of new users after the exponential growth in 2017. Which caused bitcoin network to slow down and increased the transaction fees. The network is facing this scaling issue due to the increased number of volumes generated by the new as well as existing users. I believe a lot of exchanges are simple not ready to handle such kind of huge volume and that is the reason why they are on the risk of crashing. That's why they are denying new user registration. However, I believe once the network normalizes, the exchanges who are denying new users will open up for new registration again. I see that Poloniex is still accepting new users now however, you may experience delay in verification completion.

[Ms.cumshot]

I am using bittrex and yes indeed they are closed for the new account registrations,but it doesnt mean they wont accept forever,they are just trying to update their system to accumulate more users in the future.

[bitart]

Bitcoin has attracted a millions of new users after the exponential growth in 2017. Which caused bitcoin network to slow down and increased the transaction fees. The network is facing this scaling issue due to the increased number of volumes generated by the new as well as existing users. I believe a lot of exchanges are simple not ready to handle such kind of huge volume and that is the reason why they are on the risk of crashing. That's why they are denying new user registration. However, I believe once the network normalizes, the exchanges who are denying new users will open up for new registration again. I see that Poloniex is still accepting new users now however, you may experience delay in verification completion.

It's not only the new users that causes problems for the exchanges. Most of the biggest exchanges have faced regulations to implement KYC and AML as soon as possible. This means, all of the users have to verify themself with some ID or driving licence and they have to prove their state of residence too.
This is a huge task for the exchanges to handle this verification process for the existing users, and also the new users wants to register, so they just can't handle the workload. They have to meet the AML and KYC requirements, so they just can't accept new users as long as they have problem with the existing ones.

[apvmoreira]

Bitcoin has attracted a millions of new users after the exponential growth in 2017. Which caused bitcoin network to slow down and increased the transaction fees. The network is facing this scaling issue due to the increased number of volumes generated by the new as well as existing users. I believe a lot of exchanges are simple not ready to handle such kind of huge volume and that is the reason why they are on the risk of crashing. That's why they are denying new user registration. However, I believe once the network normalizes, the exchanges who are denying new users will open up for new registration again. I see that Poloniex is still accepting new users now however, you may experience delay in verification completion.

It's not only the new users that causes problems for the exchanges. Most of the biggest exchanges have faced regulations to implement KYC and AML as soon as possible. This means, all of the users have to verify themself with some ID or driving licence and they have to prove their state of residence too.
This is a huge task for the exchanges to handle this verification process for the existing users, and also the new users wants to register, so they just can't handle the workload. They have to meet the AML and KYC requirements, so they just can't accept new users as long as they have problem with the existing ones.

What is AML and KYC?

[eddie13]

TUXexchange.com

No KYC nonsense..  Check it out..

[QuestionAuthority]

TUXexchange.com

No KYC nonsense..  Check it out..

Tux exchange is magical.

[Zicadis]

To be honest i think this whole idea of limiting the number of users on these exchanges is all in an effort to avoid losing control from the large pool of users registering and using these services as bitcoin has attracted lots of people on these platforms...

[bitart]

Bitcoin has attracted a millions of new users after the exponential growth in 2017. Which caused bitcoin network to slow down and increased the transaction fees. The network is facing this scaling issue due to the increased number of volumes generated by the new as well as existing users. I believe a lot of exchanges are simple not ready to handle such kind of huge volume and that is the reason why they are on the risk of crashing. That's why they are denying new user registration. However, I believe once the network normalizes, the exchanges who are denying new users will open up for new registration again. I see that Poloniex is still accepting new users now however, you may experience delay in verification completion.

It's not only the new users that causes problems for the exchanges. Most of the biggest exchanges have faced regulations to implement KYC and AML as soon as possible. This means, all of the users have to verify themself with some ID or driving licence and they have to prove their state of residence too.
This is a huge task for the exchanges to handle this verification process for the existing users, and also the new users wants to register, so they just can't handle the workload. They have to meet the AML and KYC requirements, so they just can't accept new users as long as they have problem with the existing ones.

What is AML and KYC?

AML: Anti Money Laundering
KYC: Know Your Customer

[silverstar43]

They received so many new members over loaded the exchange.
Sadly, you have to wait for them to reopen their doors.
Bitfinex stated they will start accepting new accounts Jan15th.

Please do not buy someone else's account.
Binance posted they will ban any accounts caught doing this and there goes your money.

[kevoh]

The crypto exchanges are finding it difficult to keep up with demand, hence, the need to shut out new users temporarily. The influx of new crypto investors has been unprecedented. I believe they will be allowance for new account signing ups, as soon as the exchanges increase their capacity to contain the demands.

[Cryptosaint$]

I have an account in Coinsmarket but the site is always crashing and i wanted to move to another exchange platform.

The problem is that the must trustables are denying new accounts because there's an unusual number of new users and they don't want the platforms to crush.

So, how can i trade?

You could get a hot wallet and push some or all of your currencies into there until you can get into a more reliable exchange.

Thats most likely I will do.

[CrypticBabe]

recently Bitcoin became the talk of the town!
its gaining a lot of attention from media and general people from last few months then the whole decade itself.
so with lots of traffic from around the glove the server of those trading platform will become victim itself!
thats why they stopped the sign up feature to stop the Apocalypse!
they will soon open up though!

[apvmoreira]

They received so many new members over loaded the exchange.
Sadly, you have to wait for them to reopen their doors.
Bitfinex stated they will start accepting new accounts Jan15th.

Please do not buy someone else's account.
Binance posted they will ban any accounts caught doing this and there goes your money.

There are accounts been sold by 5000 usd....

What are they doing!!??

[apvmoreira]

I have an account in Coinsmarket but the site is always crashing and i wanted to move to another exchange platform.

The problem is that the must trustables are denying new accounts because there's an unusual number of new users and they don't want the platforms to crush.

So, how can i trade?

You could get a hot wallet and push some or all of your currencies into there until you can get into a more reliable exchange.

Thats most likely I will do.

Only a few bucks, no big deal, but thanks anyway.

[iamMhew]

the exchange site youve mentioned are postpone the registration form for the new users, because they want to upgrade their system to not crush or make more network traffic in the future, so you better to wait until they will announce that they are accepting new users in their site. or you better to move on some other new trusted exchange site.

[hoodi]

you should follow all possible  trading platforms and create there account just in case and only then think where you wanna trade.

[hieuho381]

you should follow all possible  trading platforms and create there account just in case and only then think where you wanna trade.

To avoid the fact that newly created accounts will be used by hackers to steal information from commercial sites, they will not allow new users to register. In part, the number of registrants who have achieved their goals, so that better management of the users is not necessary to register more, but the work of the commercial site is good support for investors.

[Freezingel]

They can't handle the load if they don't close the registration for their site at the moment so of course it's a good decision rather than having the site down and caused a lot of people huge losses like the one poloniex caused some months ago. After they upgrade their server then they will open the registration again.

[Silent26]

I have an account in Coinsmarket but the site is always crashing and i wanted to move to another exchange platform.

The problem is that the must trustables are denying new accounts because there's an unusual number of new users and they don't want the platforms to crush.

So, how can i trade?

Nowadays, Crypto currency attract more users as it grows and spread in our community. But not all of these users are can be trusted.
As many people start participating in the crypto world, some of them only joined is just to make fraud as they always do. And most of them are considered all newbies. And also, as a trader, are you going to make transaction to  those people who have no enough knowledge to crypto? Ofcourse not isn't it? Because like we always do. We will choose those people who already have knowledge and related to crypto for a easier trading transaction.

[yojodojo21]

This is also a problem to new traders and what is the big issue right now about this is in the services section there are so many people who offers and sells account in exchange of bitcoin, and now it is really controversing, However, I cannot blame exchange sites that they were not able to check if how many alt accounts they are been verifying. I suggest to OP, if you can't make your account then you should buy an account to a legit seller with an escrow.

[tech72]

Binance has opened up their registrations for limited users. You can also use referral links to register for the website. All exchanges closed their registrations almost at the same time, that's a bit strange too. Also, you can buy an account but ofcourse I won't recommend it, as this would be in violation of that exchange rules.

[BrewMaster]

this is the first time i am hearing some exchange is not accepting new members! they have always accepted new accounts but if they can't handle them they will just make their verification take a very long time and keep them in "pending" status!

luckily there are a lot exchanges out there that you can use to trade. look here for a very long list of them. https://coinmarketcap.com/exchanges/volume/24-hour/

[wantjokull]

I have an account in Coinsmarket but the site is always crashing and i wanted to move to another exchange platform.

The problem is that the must trustables are denying new accounts because there's an unusual number of new users and they don't want the platforms to crush.

So, how can i trade?

You should catch up with the bigger exchangers and then try out your luck. The small or new emerging exchangers are not bigger one and they are not having the capacity to hold that much users at the same time. This is the reason why they are getting collapsed. This is really has got to do something with bandwidth of the exchanger and technical stuff like that. Why wouldn't they want new users coming on their exchanger and invest the real money? They do but they are capable of holding the huge data at the same time. So for the safety reason many of them get crashed and revoke the access for new users. Same case happened with the Binance recently. So better to get into bigger and old players of the exchangers such as bittrex, poloniex, hitbtc, etc.

[harizen]

I have an account in Coinsmarket but the site is always crashing and i wanted to move to another exchange platform.

The problem is that the must trustables are denying new accounts because there's an unusual number of new users and they don't want the platforms to crush.

So, how can i trade?

If that is the case then consider using other trading platforms. Don't stuck forever with the idea of only do trades at Bittrex and Binance (well as far as I know they are the only trading sites that halts new account registration. Correct me if there's others.).

Choosing "trustable" platform isn't really the big concern here since even how reputable the exchange is, there are still chances that their behaviour become shit. Is Bittrex and Binance only your preferred trading platform? Explore and try others as we have lots of options to choose than waiting for long time for that trading sites to open again their registration.

[WhoKn0ws]

They'll be doing this as the influx of users is heavily overloading their servers and they obviously had no plans of bringing so much traffic.
There are still a few with limited registrations, and a fairly new exchange that has been doing really well.

[helars2008]

I am also a witness to the strict registration for exchange sites nowadays.
I guess it can all be attributed to the increase in number of new applicants.
Developers just probably wanted to protect the integrity of their sites and avoid more congestions from happening.

[trecore4]

Why not just use the normal and well know exchangers over the market. :-) I am musing the hitbtc, a perfect match for my needs. It gives me in depth data analysis, freedom to put on the stop-loss limits and market can be reached at any movement. This exchanger is mostly active and I have seen it going into the maintenance mode only 3-4 times in entire year. So you can see it is having the best potential. There is no restriction on how many users come and hit the hitbtc. You may wanna have look into it. There are many new exchangers which are having the limitation on sign ups which is really weird because how can anyone limit the volume of trades that is coming in 24 hours. It makes the exchanger look small and prices could be set like wise. 

[izanagi narukami]

There are many trustable exchanger such like bittrex or poloniex that I've been used over 3 years.
Or you can find another legit local exchanger so you do not need stuck in one exchange except that was the only one exchange that exist in your place.

~Find another better one

[btcprospecter]

With more and more people starting to use crypto currencies and become involved with bitcoin and crypto exchanges have seen a huge increase in people wanting accounts. They can't cope with the influx of people wanting accounts that nearly all need verification now. It does not mean that they are not going to accept new customers in the future.

[athanz88]

I have an account in Coinsmarket but the site is always crashing and i wanted to move to another exchange platform.

The problem is that the must trustables are denying new accounts because there's an unusual number of new users and they don't want the platforms to crush.

So, how can i trade?

Why are exchangers denying new users? You just answered that in your statement, which is they dont want the platform to crush. With bitcoin price increasing like now, it attracts more people to join some trading, and the exchanger has already many members at first to serve, and even the largest exchanger too said that they already using their resources (people who works for company, etc) 24/7 and it is still difficult to proccess all the trading transaction because the amount of transactions are so massive. So they re restricting other to make a new account to their exchanger platform, for now. They said they will find a way so they can accept more member later.
For now on, i guess it is better for you to look for a local exchanger, or try to look other exchanger that can still accept a new member.

[mOgliE]

I guess that the best answer here is just... Well, wait.

I understand this is not what you hoped for when you made your post but there is not actual solution to your problem. Technically, the network is limited and considering the current number of users, most platforms are facing issues dealing with all transactions. So they cannot take the risk of accepting newbies if they are not sure they can provide the service.

That's why you are struggling. And I am sorry to say that this is one of the biggest issues the bitcoin has ever faced and it should be a real concern for every bitcoinner as without infrastructure, bitcoin is nothing...


Hope it will get better soon!

[soma50]

I think, the number of users in this exchange is unlimited. All attempts are being made to avoid losing control, because bitcoin has attracted many people on this platform. That might be the reason.