Update: High Demand

Newspaper headlines around the world tell the same story. The massive increase in digital currency trading shows no sign of slowing down, and the industry is working very hard to keep pace with the meteoric levels of demand we are experiencing. This surge in interest is unprecedented, and the pace of growth continues to outstrip even the most optimistic projections forecast by the industry. Although this deluge of attention bodes well for the future of digital currencies, and our position as the longest established digital currency exchange in the world, our resources have been stretched to capacity.

And this has had consequences. Not only are we flooded with verification, account opening and support requests, we are also experiencing backlogs with SEPA and wire transfers. Severe delays are expected in all these areas, and we have had to limit communication solely to email and our support ticketing system. Although we have moved quickly to mitigate the effects of this increase in demand, our task is difficult. We need to continue scaling up to meet the exponential rise in demand for our services, which is why we ask for your continued patience and understanding.

It is difficult to convey in writing how hard we are working to clear our backlogs. But we have all hands on deck and are maintaining a relentless pace, working overtime to ensure your needs are met. Since we are devoting all our resources to clearing tickets, this means that we respond in batches rather than real-time, which is the only reason for any delay in response. Every single ticket will be checked and cleared, normalcy will soon resume and everyone’s needs will be catered for. We can assure you of that. We are currently expanding our capacity to onboard new customers but, given external events and the high workloads we are experiencing, this will take some time.

If you would like to learn about how you can help us get your query resolved faster, please check the link here. Please also refrain from contacting our bank. Since the issues we are experiencing are borne by us, they are unable to expedite the process.

Thank you to all of you who have reached out to us with positive feedback, which often does not get heard. We are proud to keep putting you all first. And we appreciate your continued patience and understanding as we get back on top of things – it means a lot to us.

The Bitstamp team