I used to love you Poloniex but i am leaving. Here is why. [Kind of a rant]

in #exchanges7 years ago



First i want to address that the following is based on my individual experience. I'm not writing this to spray FUD or to convince anyone of anything.


Anyhow. 


I decided to go back into the crypto currency mining and blockchain/tangle project rabbit hole recently. 

As a wannabe geek and technic enthusiast i feel like this is the most awesome and "there will be a change" technology we have around. (d'uh, right?) I am actually getting goosebumbs thinking about the possibilties Blockchain and Tangle are giving us. (Obsolete government, obsolete banks...geez if we, as humans, want to claim our freedom back, this is the way to do it.)

Sorry, i'm rambling on.

So when it comes to trading i decided to pick one of the two major exchanges (Bittrex and Polo). 

Since the design of Poloniex was pleasing me more than the other i gave it a go. Time went by without any problems. I was trading like crazy and achieved to multiply my investment by almost 300% in a relativly short time period. AWESOME!

But then there was my first black friday after what felt like an eternity (It wasn't actually friday but you are getting the point. Can't remember the correct word for it, no native speaker bla bla). After getting the typical newbro panic sell feeling i managed to calm myself down and realized that it was a great opportunity to invest a bit more. 

So the plan was to sell the coin that was holding it's value with almost no drop and invest into a promising coin/token that went down. I'm hodling them off exchange so i had to deposit said coin into my Polo wallet. Trying to do it i saw a "Temporarily Disabled" message instead of the "deposit" button."Weird coincident", i thought to myself and went on living my life.

Three weeks later. Miners were running stable and the mancave was near sun temperature - great day to trade some mined coins for BTC and maybe buy other promising coins. After doing so i wanted to withdrawl my newly obtained coins from Poloniex. "Nope not today", said Poloniex showing my withdrawl as COMPLETE and giving me a FAKE txid (txid never showed up searching for it with coin's various blockchain explorers so i have to assume it was fake in the first place). Unfortunately, i didn't thought about making screenshots but believe me it happend. After sending my support ticket the withdrawl was completed after two days with a NEW txid and without any response from support.

 Yeah okay, i'm giving them the benefit of a doubt. Maybe something went wrong - Shit happens, right?

A few weeks later the same thing happened. Damn, i'm having TBs of free HDD space and Burst is (became) a joke so why not starting to support a decentralized cloud service. For doing so the cloud service demands a certain amount of coins in it's wallet so I wanted to trade some BTC for that needed coin. 

The trade itself was no problem, what was a problem is the freaking withdrawl. Same thing. Withdrawl shown as COMPLETE, INVALID or FAKE txid (call it as you want). Hoooooly macaronis, again?!? 

So same procedure: Sending a support ticket, no answer for two days - withdrawl completed with a new txid - no response from Polo support. Started getting pissed but damn Poloniex layout/design is sweet and easy to handle so i decided to stay.

Few days ago prices went down again. I already received my paycheck so i was thrilled to invest into coins i was looking into for quiet a while. For doing so i'm using a fiat-crypto exchange, well it feels like a shop but i think it is still an exchange, isn't it? Whatever. I wanted to transfer the coin directly from one exchange to another so i needed my polo wallet address but guess what, the wallet was friggin "Temporarily Disabled" again! 

One of the major and best known exchanges on this planet is really friggin blocking me from doing my profit trades every friggin time there is a huge opportunity.

So yeah, long story short. I left Polo. Bittrex would have been my second choice back then and is my first choice, now. I don't like Bittrex' layout as much as i like Polos but hell at least i'm able to actually use the exchange at all. (So far)


Life goes on. Stay awesome, peeps.


TL;DR: I am leaving Polo for Bittrex because Polo was giving me fake txid and was disabling my wallet too often. 

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Schön geschrieben @grae

Danke :)