Binance resumes limited user registrations |

Binance resumes limited user registrations

Peter Terlato 8 January 2018 NEWS

Only a limited number of new registrations will be allowed each day, while sign-up times will vary.

Cryptocurrency exchange Binance has lifted its temporary ban on new user accounts, effective immediately.

The brief registry lock-out was introduced late last week, attributed to an overwhelming surge in popularity.

“To ensure performance for our existing users, only a limited number of new registrations will be allowed each day,” according to the Binance Team’s latest post on their support blog, published early on January 8, 2018.

The company said new registration open times will vary from day to day, without any prior announcements.

Additionally, the Binance Referral Program commission rebate will be adjusted from 50% down to just 20%.

Binance is one of the fastest growing cryptocurrency exchanges. As a result of the platform’s restrictions, a significant number of users made attempts to sell-off their accounts, both for profit and due to uncertainty.

Alternative exchanges to Binance

The Binance Team reminded users that the selling of Binance accounts is a strictly forbidden practice and to ensure funds safety, all Binance accounts that are identified as being bought/sold will be frozen and disabled.

Recording over $6.5 billion in trading volume in the last 24 hours – well ahead of Bitfinex at $2.9 billion and Bithumb at $2.8 billion – Binance is the leading cryptocurrency exchange, according to CoinMarketCap.

A slew of major cryptocurrency platforms have closed their doors to new clients over the past few months, including US-based exchange Bittrex, UK-based network CEX.IO and Hong Kong’s popular exchange Bitfinex.

The exchanges invoked the embargoes in order to improve and enhance their infrastructure support systems.

The cryptocurrency market is an intensely volatile sector. CoinMarketCap, an online source for cryptocurrency market capitalization figures and price movements, recently and unexpectedly removed South Korean exchanges valuations from its reported averages, causing a sharp decline in coin prices over the last 24 hours.

Just two days ago, CoinMarketCap reported that the total cryptocurrency market capitalization had risen above $800 billion. It has since slipped by almost one tenth (8%), down nearly $60 billion to $742 billion.

Keen to discover more about cryptocurrencies? Check out our A-Z list of the most popular altcoins.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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