Both newbie traders or even old-timers who have been thinking of hopping on the Binance train will have to wait for a while.
Binance, a growing crypto exchange platform, has just “temporarily” shut its door to new users. In a blog entry posted on January 5, 2018, Binance broke the news and mentioned that it would not accept new users for the time being.
The announcement reads:
“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.Thank you for your support!”
Binance is not the only exchange that needs to revamp its platform to accommodate users. Recently, other platforms that have experienced similar problems include Bittrex, Bitfinex, and CEX.IO. Needless to say, the influx of users and traders caused by the skyrocketing prices of cryptocurrencies is also causing operational difficulties on the end of the exchange platforms.
According to data released by CoinMarketCap, Binance has become one of biggest venues for trading in the world with more $2.8 billion traded on a daily basis.
Since its launch in July 2017, Binance has already reached almost three million users worldwide. The Hong Kong-based digital currency trading platform supports multiple languages, one of the factors that boost its popularity.
Its global offerings include exchanges between 96 different crypto coins which include Bitcoin, Ethereum, and its very own BNB token.
As to when Binance will open its doors again remains to be a big question traders across the globe are waiting to be answered.