Bittrex, a popular cryptocurrency exchange based in the United States, announced on Tuesday that they would be opening up their exchange to new registrants. The announcement comes after a major website update that improves the design and security of the website.
This is the first time since December that the site is accepting new account applications due to the overwhelming number of new registrants that flooded exchanges during the December bull run. Initially, Bittrex paused registrations and directed new registrants to a waitlist program, slowly accepting them over the past few months.
Bittrex is one of many exchanges that had to stop accepting new registrants due to limited digital infrastructure and unprepared customer support systems.
In addition to allowing new registrations, Bittrex is also accepting corporate account applications. Bittrex’s CEO, Bill Shihara, commented on the new developments 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."
New account registrants will still have to verify their accounts and provide the required KYC information in order to maintain their accounts.
Bittrex has seen tremendous growth over the past several months. The company has reportedly gone from 4 employees to 50 and has hired 100 people for the support department to offer better service to existing and new customers. Although Bittrex has a large offering of coins, it still does not offer a fiat gateway, meaning customers need to deposit one of the offered trading pairs before trading. Last month, the Bittrex CEO said in an interview that they would be adding USD trading pairs at some point this year.
Many have speculated that major exchanges closing to new registrants was one of the reasons the December cryptocurrency rally stalled. Over the past few months exchanges have been able to upgrade their infrastructure and allow new customers access to cryptocurrencies, which may allow an influx of new money into many digital currencies.