Bitcoin exchanges see massive surge in new users this month

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Stuck in the coronavirus lockdown, people have flocked to exchanges to start trading Bitcoin. But trading volumes tell a different story.

In brief:

  • Five exchanges reported an uptick in new users.
  • Kraken saw an 83% increase in users, while Paxful doubled its signup rate.
  • On the other hand, Bitcoin is moving away from exchanges.
  • Many top Bitcoin exchanges have seen an influx of new users since the coronavirus lockdown started.

Five exchanges saw a notable increase in both signups, and trading volume—with some citing a doubling, or in some cases, a tripling of their usual rate of new signups. These exchanges are: Kraken, OKex, Bitfinex, Paxful, and Luno.

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