At the end of the last year, cryptocurrency exchanges experienced an increased amount of registrations. Of course, at that time, Bitcoin and virtual currencies were trade at their all time highs, and the total market capitalization of all the cryptos available was headed towards 1 trillion dollars. Crypto-exchanges like Bittrex were not able to handle all the new users, and decided to stop accepting new registrations.
Bittrex Accepts New Users
Bittrex has decided to start accepting new registrations after a long time redesigning its website and improving its platform. The unexpected growth in December 2017, affected most of the important cryptocurrency platforms.
The information has been released by Bittrex in a statement signed by the communications team on April the 10th.
“We’ve spent the past four years building Bittrex on the founding principles of innovation, security and responsibility. Given these principles, pausing new user signups during a period of immense trading volume was not a decision we took lightly, but our responsibility to provide customers with a reliable platform and outstanding customer service, made it the right thing to do.”
Bittrex is the 6th cryptocurrency exchange by trading volume. The most important trading pairs on the exchange are XVG/BTC, RDD/BTC, BTC/USDT, accounting for almost 1/3 of the total trading volume. Other important trading pairs are UBQ/BTC, GNT/BTC, and TRX/BTC.
The company explains that the new users will have to submit to identity verification procedures in order to use the platform. The main purpose is to comply with the current Know-Your-Customer (KYC) rules and with an increased regulatory framework in the United States and all over the world.
“Bittrex experienced tremendous growth due to the unprecedented interest in blockchain technology and digital currencies. To keep pace with that growth, Bittrex has expanded from four full-time employees in early 2017 to more than 50, including the addition of top-level talent from the Department of Justice, the Department of Homeland Security and Amazon.”
At the moment Bittrex will be offering an improved customer service, a better interface, and will keep expanding its business accepting new users.
Images Cryptocompare and ForexBrokerz