Cryptocurrencies are gaining popularity like never before. This has led to a rise in traffic for cryptocurrency exchanges - especially for the top few exchanges. Recent statistics reveal that Binance, the world's biggest cryptocurrency exchange, is gaining millions of new users per week - including a record breaking 240,000 new users registered in just one hour on Wednesday.
These stats were revealed by Binance CEO Zhao Changpeng in an interview with Bloomberg TV. The demand has been on a sharp rise and every week the exchange is adding 'a couple of million' new users. The traffic has been so high that Binance has begun to limit new customers. However, he also added that things would be normal in another couple of weeks.
Binance, which trades in Billions of dollars every day - is the biggest and the most active cryptocurrency exchange of the world as of now. Zhao Changpeng also revealed that his average user demographic is that of a 25 to 35 year old male. However, a number of 'institutional investors' are beginning to show interest too, he added.
Zhao also commented on the recent comments made by Billionaire investor Warren Buffet who said that cryptocurrencies 'will meet a bad end
'. Zhao said that while he trusts Buffet with investments and has tremendous respect for him, he's making a big mistake when it comes to cryptocurrencies.
Binance, which is hosted on Amazon's servers has been getting such unusually high amounts of traffic that they are crossing the limit of servers per account permitted by Amazon. “We have a guy whose full-time job is just requesting servers,” he said. “Every day they say, ‘OK, here are 200 more,’ but we just ask for more,” said Zhao.
The Binance CEO also praised Japan and hailed them the most progressive country when it comes to regulations. The cryptocurrency craze is growing and the growth can be measured in the traffic and user registrations that exchanges are getting!