Users for the cryptocurrency trading platforms in the world are increasing every second. For estimated, the heat of cryptocurrency exchanges is adding more than 100,000 accounts every day. Scroll down for more information!

The Heat Of Cryptocurrency Exchanges: Adding over 100,000 Users Every Day

At the moment, investors rush to create new accounts to buy and sell these virtual currencies. Coinbase is the biggest bitcoin exchange platform in the US. The company now has 11,9 million users. According to this company, Coinbase has added 100,000 users in 1 Nov 2017. Besides that, other leading cruptocurrency exchange such as: Binancem Bittrex, Bitstamp are dealing with a surge in the demand for the virtual currency.

Some of them choose to improve their system, while the others temporarily stop opening the new account. Bifinance, the global largest digital currency exchange, announce that they have added more than 250,000 users on a single day. In 4th of January, Bifinance states that:”due to the overwhelming surge in popularity, Binance will have to temporarily disable new user registrations to allow for an infrastructure upgrade. We apologize for any inconvenience caused.”

Furthermore, digital currency has developed from a focus of a group of cryptocurrency enthusiasts and online marketplaces to an entire industry. Now people are building a whole business for mining Bitcoin, selling digital mining equipment and offering Bitcoin trading services.

Why huge digital currencies exchange struggle with new users?

Every users new account must be manually verified. If the company fails to segregate the fraudulent accounts from legitimate users, they might face huge fines and lawsuits for exchanges. Therefore, the process for figuring the new account requires significant efforts. The increasing demand from the investors with more than 100,000 users and handling the task manually is a hard work. In the following months, cryptocurrency exchanges will undergo some drastic change globally to the systems. As a result, during this time, newcomers might face some difficulties to open an account.