My experience with Poloniex has been positive and also very negative. I'd like to demonstrate and share my experience with people who are interested in opening an account or already have an account. Issues to consider are services, variety of currencies and support.
https://coinmarketcap.com/
I opened my account many months ago. I needed it in order to transfer my mined Monero, Bytecoin and Dash so that I can trade them against Bitcoin, Ripple, Stellar and Ethereum. I signed-up with the basic level of security, that means my name and address as well as telephone number and email address. A few days later I decided to go for a 2FA (2-factor authentification) where you scan in a matrix code into your cellphone in order to create a separate 3rd login code that pops up on your cellphone when using the specific 2FA software supplied by Google.
https://play.google.com/store/apps/details?id=com.google.android.apps.authenticator2&hl=en
I had been using Poloniex for months, however I found it slightly pissing me off, that Bytecoin and Monero had often been marked as halted although I had transfered funds. This meant that I could not withdraw certain funds or exchange them.
I like the option to be able to "lend" currency to others and earn interest. This is a really good service. In the meantime I set up mining rigs in Australia and Germany, mining Ethereum and Dash, sending it to my Poloniex account, and very happy to watch my income develop. However, one fine morning I try to login, and Poloniex tells me that my account is temporarily unaccessible for apparently overusing it? Totally unacceptable. After 2 attempts I was completely blocked. As if I had been kicked out of some sick forum. I couldn't believe my eyes! I couldn't access my account. I immediately additionally froze my account via an email link to make sure no scumbag is trying to fish me.
Try finding a telephone number of Poloniex. Come-on. Immediately I had to reallocate all my mining to a Bittrex account. And there we go, Bittrex also provides PIVX which I also am stacking together with Ubiq that I mine.
After atleast 10 support tickets to Poloniex they finally got back to me after 2 weeks of waiting. Wait, those are my funds, and my account. The support service sucks absolutely. I watched this. People, within one hour the support ticket number had increased by 200. Lets do the math, if every support employee needs 5min to sort out a case, then that's 12 cases per hour, which means they need atleast 20 support employees per shift, multiplied with 3 shifts makes a personnel of 60 people, that all need to be trained and managed - without them doing as some Wells Fargo employees did (which means to steal funds from account holders).
Cryptocurrency exchanges need oversight and they need an authority to slap their faces when they cannot forfil their feduciary commitment. My funds - my money - my account. If I can't access you when you hold my funds, then you have got nothing doing looking after it. I expect immediate response within 6h latest in such an operation.
Positive: Fast sign-up; Lending
Negative: Bad support where action is taken weeks after the event - and no answers to questions; No telephone number; Separate support platform; Sometimes certain currencies halted; Sortiment of crypto could be more expansive
What to do: If you have an account now, make sure you have access to support by opening a support ticket. You can't? Ha ha ha ha - you had better sort that out, I had to sign up for a separate support account via Freshdesk - do you know how long that takes? Make sure you have atleast 2FA security. Don't use Poloniex without. Make sure you have a link to hit to immediately freeze your account if you have to. Please watch this:
Stay cool - Your friend Jegor Orlow