Binance Shuts the Door on new Account Registrations due to Overwhelming Popularity

NEWS BTC

Bitcoin / NEWS BTC 70 Views 0

The year 2017 has been incredibly positive for many cryptocurrency exchanges. All platforms saw their user base grow, which is all the time a positive outcome. On the same time, it also means these companies need to start out upgrading their infrastructure ultimately. Otherwise, they'll suffer from degraded services, such as Kraken and Coinbase. Binance is halting new user registrations because of the overwhelming influx of latest traders.

In a way, it's good to see exchanges halt new user registrations ahead of time. More specifically, if the infrastructure gets taxed an excessive amount of, things will deteriorate pretty quickly. Companies such as Kraken and Coinbase know all too well how things can get out of hand. Binance wants to stay ahead of the curve always. To take action, they don't seem to be accepting any new users until an internal upgrade has been completed. A smart move by the corporate, as it'll avoid unnecessary friction.

A Major Step Forward by Binance

While this isn't a popular decision, it does make a whole lot of sense.All services will remain operational in the meanwhile. New users will simply have to attend until the infrastructure upgrade is complete. For now, we don’t understand how long this can take, though. The recognition of Binance shouldn't be underestimated by any means. It has quickly grow to be one of many hottest altcoin exchanges on the earth. That popularity will only increase further if they continue to offer an optimal service.

If Coinmarketcap is to be believed, Binance is the most important cryptocurrency trading platform on the earth. Their day by day volume has surpassed $2.5bn, which is quite impressive. It simply is sensible to implement the required upgrades at such a critical time. After all, if the corporate were to suffer from issues, their reputation would take a major hit. It’s all the time best to scale well prematurely, moderately than wait for problems to arise. There's still a growing demand for cryptocurrencies, that much is fairly evident.

Such rapid growth on the planet of cryptocurrency is slightly unprecedented. After all, things were trucking along nicely until mid-2017. Ever since it feels as if we are in a new gold rush era. Everyone wants to sue exchanges and buy cryptocurrency. A positive development, assuming companies can scale quickly enough. Whether or not Binance might be successful in doing so, remains to be determined. Their plan of action certainly hints at a positive future on this regard.

Comments