Post
Topic
Board Exchanges
Re: Poloniex Experience
by
Yoshimo
on 15/08/2017, 17:23:30 UTC
A few days ago I found a batch of ETH in an old paper wallet I once created and forgot about. So I decided to bring these coins to Poloniex and do some trading with them. I even bought the Leonardo Trading Bot just for that. (I don't have the brass neck needed to do day trading with my remaining Bitcoins.)

As I had an account freezing issue in March 2016, I decided to evaluate recent feedback on Poloniex first before I entrust them with a significant amount of ETH. So I did a Google search for strings like "Poloniex deposit problems" or "Poloniex Ether problems" and applied a filter to only show results not older than three months. By doing so a rise in complaints surfaced, but not a such big rise that it would have justified a red alert. I supposed it was just the result of a rising demand.

However, the increase in complaints at least justified to do a trial balloon first. So I decided to first deposit a few ETH to Poloniex, do some trades and then withdraw my funds as ETH, BTC and XMR. Just to get an impression in how smooth the workflow on Poloniex is right now.

And know what? My suspicion was well founded! The deposit didn't make it through! It's not showing up in my Poloniex account, neither on the balance page nor on the deposit history page. And of course I sent more than 0.5 ETH to the correct ETH deposit address. Hours passed since the transaction and it has now 500+ confirmations on the Ethereum blockchain - but still nothing.

After years in Cryptos I had many problems with frozen accounts, delayed withdrawals, hacks, scams and bankruptcies. But a missing deposit is new even for me.

If this doesn't resolve quickly, it will be the last time I used an exchange outside my own jurisdiction.