There has been a lot of hate for poloniex over the past 3-4 months: rumors of insolvency, complaints of unhelped support tickets, complaints about issues with SBD deposits, anger at slow granting of BCH tokens, etc. It used to be the main exchange I used, but I moved away to mostly Bitfinex and Bittrex because of higher withdrawal limits, better loan rates, and better offering of altcoins.
Two months ago I stated that it would take three things to get me to start using Poloniex again:
- The BCH crediting process goes smoothly.
- They raise my verification to tier 4 so I can more easily deposit/withdraw money quickly.
- Loan rates improve and are better than other sites.
The BCH process went smoothly. Now they've raised me to tier 4 and I have larger withdrawal limits:
Bitfinex still has better loan rates, but they won't be available for US customers forever. So I'm comfortable starting to redeposit and use Poloniex again. I don't think they have real underlying issues, I just think they are severely understaffed and backlogged, and have a bigger customer base than other sites that responded in a better way. I'd imagine the hiring process is difficult and they're hesitant to rush forward new hires into positions of power, but I don't want to give them too much benefit of the doubt.
Of course I could be wrong and they might have real issues, so don't just follow my lead and start depositing to poloniex. I definitely don't want to end up a meme like Roger Ver defending MtGox:
NEVER go full Roger
I just feel better about being able to move money off the site in a much quicker fashion if necessary.
My name is Ryan Daut and I am a professional gambler. My interests include dogs, poker, fantasy sports, football, basketball, MMA, health and fitness, rock climbing, mathematics, astrophysics, cryptocurrency, and computer gaming.