Over the last few days, i received numerous requests as to why individual crypto-currency exchanges no longer sell coins, stop adding new users, or why transactions are sometimes "pending" for several days and are not executed. In the following article, i would like to give you an idea of what it currently looks like on individual crypto currency exchanges and what the reasons for the "chaos" are.
General situation at the crypto exchanges
Basically, it can be said in advance that all stock exchanges have to deal with the extreme rush of new users and the extremely high number of transactions. From most stock exchanges is to be read that simply not with such a large onrush of new customers within shortest time is counted. This is mainly due to the fact that cryptocurrencies were still a "nerd" phenomenon until about November.
As the Bitcoin course exploded, the mainstream media suddenly jumped on the 500km / h fast train "Bitcoin". Within a short time there was hardly anybody left who has not read anything about Bitcoin yet. Everyone wanted to invest in Bitcoin.
However, as Bitcoin's share price continued to rise and became unavailable to anyone, the legacy of old coins became a focus for many investors. Altcoins, in particular Ethereum, Dash, IOTA or even in recent days Verge profited greatly from the rush.
This crowd was no longer manageable by many exchanges, as it lacked both technology and staff, which was not available at such short notice.
An overview of the individual stock exchanges:
Litebit.eu
Cryptocurrencies at Litebit.eu can be bought there directly against the euro and that no detour via other currencies (BTC / ETH) and exchange on stock exchanges is necessary.
In addition, this is the largest known stock exchange in the crypto currencies can be bought directly against the euro. So you do not have to store your cryptos on any Exchange, you can transfer them to your desktop or hardware wallet.
The current situation is that cryptocurrencies are usually only available for purchase for a few minutes. Within minutes these are sold out again. To meet the current demand, LiteBit raised the minimum order to 100 euros.
Since yesterday, no new customers have been added temporarily. However, you can sign up by e-mail to be notified when new customers are accepted. The support times have been extended as well.
Bitfinex
At Bitfinex, new registrations are currently also blocked. The ominous "Invitational Code" can not seem to be generated by anyone, as the URL is not available for this. In this respect, Bitfinex does not currently accept any new customers. At the moment, however, clicking on "Sign Up" informs that new registrations will be possible from January 15th, 2018 onwards.
Existing customers of Bitfinex can currently trade as usual. For withdrawals, however, a minimum "withdrawal" has been introduced, depending on the currency.
In the past few days the website was not accessible on several occasions. According to Bitfinex's Twitter account, the platform was under a long-lasting denial-of-service attack, leaving the servers overloaded and unreachable.
Bittrex
At Bittrex there is currently a recording stop for new customers. Due to the onslaught, it is currently more than 500,000 users, the server capacities were no longer sufficient and had to be extended. Currently, however, the stock market for existing customers is regularly available. Trades are possible as usual.
HitBTC
From HitBTC was in the last few days little negative to hear. We know of no major problems. Both trading and taking off worked without any problems.
Binance
Binance too has apparently been spared the chaos. Both trading and taking off worked without any problems.
Thank you for reading!
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