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Bittrex Exchange is Now Accepting New Investors – Again

Bittrex Exchange

Update:

Bittrex opened up its registration for new investors two days ago but within’ minutes they shut down due to system malfunction. The company was unprepared for the volume of traffic they received when they announced new customer registration had resumed. We’ll see how long this lasts but as of two hours ago, you’re safe. Party on.

Originally Published on: Apr 10, 2018 @ 15:06

Bittrex is now accepting new customers. The big news just broke for the Seattle based cryptocurrency exchange.

The startup company announced the news this morning. New users can sign up through the exchange’s newly revamped website. Back in December, the company halted new user signups as the site hit max capacity. The past few months, new users were put on a waitlist, and now each person has to complete an identity verification procedure to complete their registration.

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Bill Shihara, Bittrex’s CEO, was quoted in the press release today saying:

“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. After diligently working to improve our infrastructure and upgrade our website, we’re pleased to announce registration for new users resumed today.”

In early 2017, the startup company only held four full-time employees and since the boom of cryptocurrencies mid-2017, has now expanded to more than 50. They have recruited top-level talent from the Department of Homeland Security, the Department of Justice, and Amazon (NASDAQ:AMZN).

Pump the Breaks

Within just minutes of the announcement, it seems Bittrex’s system couldn’t handle the influx of people trying to access it. Maybe all the company’s developments within the past few months weren’t quite ready to be unleashed. Coinbase, a similar US exchange, had similar issues in the past and was to blame for sharp falls in both BTC and ETH in the past when trading was suddenly halted due to system crashes in high-volume trading times. Exchanges continue to be a huge limiting factor to widespread adoption, as they are extremely difficult to navigate and often unreliable in high-volume trading times.

We will continue to monitor the situation and will update when Bittrex is back up and running.

Featured Image: Canva

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