As predicted 9 days ago - Top Exchange Closes Doors for New Users

in bitcoin •  last year

Exactly 9 days ago i wrote a post where i spoke that exchanges will start closing doors for new users more and more -

Currently to the list of closed ones got Binance - the top1 volume exchange of the world.

So i suggest to speed up and register to other ones that are still open ie KuCoin that has same feeling as B.

Others Smaller/Differnt Use

  • BitMex - best place for leverage trading of loads of coins
  • CoinExchange - smaller coins but also big ones, loads of things to get early
  • LiveCoin - has SBD and some cool coins not found anywhere else
  • SimpleFX - anon forex with crypto and also BTC, NMC and other leveraged trades up to x500

Decentralized Will Never Close!

OpenLedger built on Bitshares will never close because its decentralized. It cannot close or steal funds. It has loads of pairs and also STEEM EOS SBD since its same faily as this very platform.

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It is strannge for me to see how little people know about DEX , the decentralized exchanges. Though the future belongs to DEX. Some boast their uncovenient and limited services today, while others continue the hard work in creating a better breed and still flying "under radar" (like blocknet) .
Everyone who wants not to miss the "next train" should keep an eye on them (DEX)


Interesting I have to put some time into investigating this further... What are the pros & cons compared to a "normal" crypto-exchange?


There is so much to answer to this - you could probably read day an night for half a year. One good place to read, with many links etc is this 3.5 year long thread:

BLOCKNET is my favorite. ( As I see it as the best, superior to competitors)
But ... it is not the only one


Thank you for the great advice! This stuff is so fascinating!


Thanks for sharing your wisdom @onealfa!
I will check out the link you shared and try to read day and night for 6 months...
There is so much to learn about this subject, it doesn't get boring that is for sure...
If you have time please take a look at my first blogg-post here it is about crypto,
it would be nice to hear your feedback @onealfa!
Read here: Will (ETHOS) fix the financial system (and make you rich)?!



  • many gateway to deposit/withdraw the coins (openledger, rudex, cryptobridge), so you avoid the failure of a unique company
  • your balance is on a blockchain and not in the private database of a company, so no one can manipulate your funds
  • shared order book that interconnect all the gateway and let you buy on one exchange and send to another without moving your coins out/in


  • harder to understand

Con? to someone willing "to understand" this might be not a real CON


Ha ha "harder to understand" your funny, thanks for your explanation sounds like some real "next-level" stuff... =)


OK, Thanks 1-Alpha! I'm noting that all my 'exchanges' I've dealt with so far leave a lot to be desired.
Coinbase (blah, not really an 'exchange' at all!) and then Kraken, good tools and trading pairs, but still a centralized exchange... Poloniex is OK, needs a lot more trading pairs, but now they are insisting I step up my verifications, for tax purposes I'm sure LOL

I'm going to follow you (done!) as you are where I want to be in a year or less... My account is growing with leaps and bounds, plus my other stuff is blooming pretty good as well :)


Yes, it is odd that cryptonites push for decentralization, yet, eagerly trade on non-decentralized exchanges, without regard.

Ironically, I have a current post regarding the vital need to research exchanges before signing on, with this "top exchange" as a focus.



@onealfa the main issue is to get to the cryptomarket. In South Africa we only have 2 to exchange from Fiat to crypto, making things very difficult.... For me this is the main barrier.... But I completely agree that decentralized is the THING!

For me buying BTC or ETH is difficult using credit/debit card as most exchanges don't offer this.Coinbase is not available in India.


Soon there's a new exchange platform where paying via PayPal is possible. Take a look a

Nice article, lucky enough I think I have a registered account at binance, but I believe I had some issues there trying to make that site work properly, I guess I did not put enough time into it I know I should have...

This crypto world is so amazing but the learning curve is steep...
And what about these "the decentralized exchanges"???
From reading the article I am guessing OpenLedger is one, is it really safe and fully operational???


Decentralized.... and fully operstional. Take a look at IDEX.

And shapeshift is very expensive if you want to buy SNT, Aragon or Golem. It’s almost five dollars for transaction. It’s cheaper to get ETC

God bless you.

Just hodl it! Although You should not be greedy if we really want this to blossom into the Future of Money.

Hmmm if OpenLedger is decentralized - and has USD pairs that the site claims are backed 1 - 1 with real dollars, who is holding the cash?

Also, fiat w/d and deposits are currently disabled, so how are they trading in them? Are they Tethers and not dollars?


Those are bitUSD/bitEUR/bitCNY/bitBTC/bitGOLD/..., they are called Smart Coin in bitshares terminology. The collateral is decentralized. Every Bitshares user can lock some BTS as collateral to issue smart coins. No central point of failure.
More info here:

Currently Fiat deposit is closed, but you can deposit many other tokens, they will be guaranteed by openledger (so centralized). Then you can sell it for a smart coin to avoid the risk of default of openledger. You will then be able to go out through another gateway (rudex, cryptobridge, ...)

I'm trying to get an account of bittrex for 2 weeks now. It's too bad I didn't sign up to binance when I had the chance...


That really does suck about biannace as it's slightly cheaper than bitrrex and has a few more coins.

Bittrex is still very good however so I hope you get on soon!


So why does everyone prefer bittrex?


They allow you to trade many coins, they are relatively trustwothy, and they serve NY.


What makes you think that users prefer bittrex? Binance is seeing more volume and has halted new user registration.

Again, like the OpenLedger concept, but the WITHDRAWAL FEES for minnows are exhorbitant no? Try inserting 100 steem into OpenLedger, and then withdraw the same amount, they grab a HUGE fee. Can you account for this?


Uh what? Costs are very very low, and in the case of Steem, you pay 0 steem to withdraw, and about 0.20 usd gateway fees, its way cheaper than centralized exchanges


Edol, we are referring to the WITHDRAWAL FEE charged by OpenLedger when removing Steem from OpenLedger back to Steemit wallet. Yes, agreed, the STEEM fees are nothing, that's not the issue. We still have yet to find anyone fully explaining these OpenLedger withdrawal fees.

I'm glad I read it to the end because I was going to say "What about Openledger?" :)

I don't understand what's the benefit of having accounts on all exchanges?

  • you get access to more coins
  • you can arbitrate the price/fees between exchange

good thing i took your advice and signed up a few days ago!!


Another reason to buy more BTS! And maybe KNC?

Wow - Thanks for sharing.

i guess this is only a temporary fix,
it is being uncontrolled tho bc newbies spoiling all the fun and promoting shit coins !!

I think I need to try open ledger. Looking for a new home due to etherdelta fees!


I am curious about this one is it like ether delta?



Yeah, I think 2018 will be a big year for bitshares!

Just like folks need to diversify their portfolios, they need to diversify which exchanges they have accounts with. Undoubtedly, exchanges will continue to evolve amidst changing regulation and user volume so having options to get in and out of transactions quickly is a must for anyone seriously pursuing this space. KuCoin for the win!

Nice post, Thanks for this update. Beautifully presented and explained. Upvoted!

plz check out my blog for latest posts and updats @kingjan

Always thanking @kingscrown for great Crypto News and Up to date info and what is Really Happening.....


Yes sir @stokjockey a lot of forward thinking here. I have said way too many times for how short of a time I have been on this platform, the steemit platform's handling of mass transactions is stellar in comparison to these other exchanges. I am very heavy on the upside of this platform, where it can be once the secret is let out about the specifics of this sophisticated platform.

It's only temporary though and I understand why exchanges would want to restrict access. They keep getting overwhelmed any time a coin crashes or surges. Both binance and liqui were on the fritz today due to Tron going to 20 cents. I doubt they will remain closed for long, but you know more about this stuff than me, so maybe not.

So Bittrex and Binance are currently no longer allowing any new users? Wow that's crazy, and if so can't be a good thing for a lot of alt coins since many of them are only listed on those 2 exchanges.

How does buying EOS work on the Bitshares platform work if I am U.S. investor? I thought they closed EOS for U.S. investors? Thanks @kingscrown


You can buy EOS on decentralized exchange and there isn't much they could do to stop you. IF you do this make sure not to import your main wallet in their system (as doing this during their recent hack really screwed a lot of people over) and instead create a toss-away MEW and use that one to make your purchase. Also once done remember you have to register your EOS in your wallet before a certain date (this summer I think).


I'm not too well-versed about ether, but I do know as you mentioned that etherdelta got hacked. So due to safety reasons and my ignorance about ETH I'd rather not go that route. Is there any other way? Maybe through Bitshares and then send that EOS to MEW - after it's sent to MEW register on the website with a vpn?


Here is a step by step guide on how to use Etherdelta I made a while back in case your interested.

If you create a toss-away MEW wallet, link/import that to etherdelta, buy your coins and then move them from your toss-away MEW wallet over to your main MEW wallet, the risk overall is extremely low of you having any issues/losses and your main wallet would remain 100% safe. I personally haven't used Bitshares so I can't speak much about that part. As for registering EOS check out the video which goes over all the needed steps (the guy is a US citizen so whatever he does should work the same for you).

Sidenote: I am Canadian and personally got my EOS from Kraken without issue, but I am not sure if US citizens can use that exchange or not (its UK based).

Bitshares is hella fast too!!


bts is a related platform to STEEM. Same tech, I have both but need to delve into BTS more. Plus, buy some coin on that platform, which should go up faster than the BTS itself. All good investments at this time, it's still WAY Early for these!

Super cool info, I'm super new to this so I found this very helpful, thanks

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what a pain. signed up on KuCoin yesterday! I like it so far.

Excalty, Kucoin is the next big exchange platform and people should start creating their account over there as soon as possible!

I should start using Bitshares.

Those exchanges are really really popular right now. I think they'll open for new users again as it's their business. It's hard to deal with those large volumes of users. Thanks for posting!

I really liked your article. I'm going to follow you because I like the Bitcoins theme. When you have some time I invite you to read my latest publication

@kingscrown yup it was down trending now and many ppls lost there hard earning amount but for government ppls have to pay #TaX from there profit amount but what about the ppls who lost there amount in #crptocurrency..

Follow and checking always the good idea!

Dang! that was quick... better hurry over to KuCoin before the doors are also closed there.... looks like all the FOMOs are finally getting their foot in the door

@kingscrown thanks for sharing, much appreciated!!

Woah, Open Ledger is not for a beginner in trading. Just opened an account for the first time and I can tell right away this is going to take a little bit of getting used to. LOVE the idea behind it though!

you did a good job compiling these .

i love that

What do you think of

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Thank you for update about cryptonews
I registered yesterday in binance and today it is closed

"Decentralized Will Never Close!" - Truth

Yea , thanks a lot for update, already registered on binance , I guess still need to register on kucoin . It is better to know in time before it is too late :)

Thank god I just made the cut and signed up an account last week! phewwffff gotta love that luck.

Werde jetzt auch kaufen. Habe schon lange überlegt zu hol.
Wallet Für Bitshares wo?

Thanks for the info, great post! Feel blessed I registered to Binance earlier today lol.

Good thing I was able to register to some exchanges early :) Good to know they're working for an upgrade.

After readong this post, I am so glad that I had an account on Bittrex, Binance and Bitfinex🤣🤣🤣🤣

thank you for the information, my friend

This seems to be the case for a lot of exchanges.. I can see a hige price boom across the feild in 2018. 🚀🚀

I'm sorry to know this. I just watched a couple of binanace tutorials on YouTube yesterday and was looking forward to sign up today. I guess I'll go with the other ones you suggested. Thanks for sharing.

Thank you @kingscrown for continuing to share high value and relevant posts. I've talking to a friend about opening up a Binance account since it has some cryptos not trading on other exchanges and in general its a really easy one to use.

Always 10 Steps ahead! 🙌🏼

I think that some project need investment, but heavy selected projects which aren't scam.

me gusta

so information

i regsitered on the most platforms already. But Bitshares not till now. I installed the App on my Mac, but never used it. Now it give it a try.

Just signed up for Binance the other day because of your predictions. Thanks for that!

I'm so glad that I registered to Binance and few other exchanges last week :) Thanks to your good advice @kingscrown :) Thank you!

@kingscrown Kindly explain how Decentralized exchanges work?

OpenLedger seems like a more attractive exchange, tough it might be a bit confusing for new users...
In any case, this means crypto is growing faster than expected...

Demand for cryptos is really going up from late 2017,personally tried to register to to try margin trading i couldn't, great post sir!

It's exciting.

I was planning on helping a friend of my get set up on Finance this weekend! Thanks for listing other exchanges still open, I will set him up on at least one of them.

Awesome information. Thanks for sharing.

Congratulations @kingscrown!
Your post was mentioned in the hit parade in the following category:

  • Upvotes - Ranked 8 with 658 upvotes

Everybody should jump to the Decentralized BitShares exchange. It's the right thing to do, plus I have BTS

This seems like it could hurt in the short term but with everyone trying to get in, it could result in a big market flood when they finally do start accepting new users again.

Thank you for this post, it is very helpful, as I have come across this problem too! Thanks for pointing out alternatives :)

a very good post and this is very useful for me thanks @kingcrown. Good luck from Indonesia.

This shit is getting really crazy. I wouldn't be surprised if Steemit crashes as well... Love this post! Keep it up!


Yeah I would not be surprised either... Steemit is a very attractive concept for people all over the world, I can see steemit enabling all sorts of interesting decentralized charitable activities in 2018!

Thanks for the tips. Got Binance registered earlier this week. Going to check out OpenLedger since everyone seems to think EtherDelta is getting sketchier by the day.

posts that can be very outdoors, teach us that we can post the right, greeting steemit

salam kenal master, posting a very extraordinary, very interesting deserve extraordinary appreciation, best regards friendship from me user aceh steem Indonesia, please give directions for us in order to manage steemit well and true

this is right time to buy bitcoin in this month?

I'm taking notes from now on... thanks!

Omgoodness @kingscrown! I couldn't have known of this 'big' move when I created this current post on researching various exchanges.

Should you have a few seconds, please give it a read to see why your post made me take notice!

Thanks for this post. Btw, Bittrex has been inaccessible in recent days with a persistent error message. It will be interesting to see if it also 'closes' to new users.

Again, many thanks!


Yes good

@kingscrown Awesome post bud! Thanks for all the helpful resources listed in the post! Will be #reSTEEMing for more awareness! #StayGreen

Thanks bro, good info. I think they will open registrations again soon anyways

that's interesting

Good day @kingscrown how are you, your publication is very interesting, although I am new in this community, it is very interesting to me what you publish is interesting for me, I want to learn more about Bitshares, thanks for sharing this publication with this great Steemit family, I am following your account and I invite you to visit my publications and I will be very grateful for your collaboration, since it is a very valuable help for me, part of this income is donated to a foundation of children in extreme poverty here in Venezuela

I have an account in binance but I never know that such thing happened lol. Maybe that's why there's a maintenance the other day lol.

you have my vote good post, help me with a vote please @kingscrown

Excelente amigo!!!

thank you very much this was what I was looking for very good information and thanks for your vote

thank you for sharing this!!!!!!

I am still new to the cryptocurrency still exploring it,thanks for this and also thank you for dropping by at my profile :)

So nice, that I registered month ago!


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