If you are new to crypto, you must have heard about Poloniex Exchange. If you're curious then let me explain, there is an unusual issue on this exchange - Whenever one wants to withdraw funds, especially Bitcoin (BTC), it takes hell lot of time!
So it was back in November 2018 when I finally entered the world of cryptocurrency, I was confused as to which exchange I would use, I was doing my own research, I did not know much at that point of time, so I used Poloniex exchange to keep my funds. I wasn't aware of personal wallets, then.
So anyway, after depositing a fair amount of BTC, XRP, XLM - I learnt that Poloniex was hacked once upon a time and it can be dangerous to store funds on an exchange.
I switched over to Atomic Wallet. Now, came the most scary part, when i wanted to withdraw my funds!
Anyway, As I was waiting for my funds to come in, i started doing research about Poloniex, and I felt as if i had made the worst decision of my life! I went through countless threads which were filled with complaints about Poloniex, that they TAKE AN INSANE AMOUNT OF TIME to process withdrawals.
Some folks were waiting for 3-7 months and others ridiculed Poloniex' Customer Service.
After raising a ticket, people had to wait for insane amount of time before getting a reply.
After going through these threads, i gave up hope and thought to myself that I probably shouldn't have entered this space as portrayed by the mainstream as DANGEROUS.
Big Relief -- It took more than 24hrs for them to process my withdrawal! Can you believe it!
And i was given a warning by Poloniex that they would freeze my account if i did NOT trade. OMG!
Lesson learnt- Never would I use this exchange again. And then I learnt about Binance - Made life much more convenient.
ANOTHER INCIDENT:
People don't really learn their lessons sometimes. Right?
Now coming to February 2019, I was really interested in Grin. And it was listed on this exchange. Since I was unsure about other little known exchanges, I was in two minds but then knowing the potential of Grin I went ahead, transferred some BTC and soon after, I did some research and I did not want to trade, so I withdrew my BTC.
Raised a ticket, NO LUCK.
AND THIS TIME IT TOOK them 8 - 10 hours to process it. Gosh.
NEVER AGAIN. POLONIEX.
So it was back in November 2018 when I finally entered the world of cryptocurrency, I was confused as to which exchange I would use, I was doing my own research, I did not know much at that point of time, so I used Poloniex exchange to keep my funds. I wasn't aware of personal wallets, then.
So anyway, after depositing a fair amount of BTC, XRP, XLM - I learnt that Poloniex was hacked once upon a time and it can be dangerous to store funds on an exchange.
I switched over to Atomic Wallet. Now, came the most scary part, when i wanted to withdraw my funds!
Anyway, As I was waiting for my funds to come in, i started doing research about Poloniex, and I felt as if i had made the worst decision of my life! I went through countless threads which were filled with complaints about Poloniex, that they TAKE AN INSANE AMOUNT OF TIME to process withdrawals.
Some folks were waiting for 3-7 months and others ridiculed Poloniex' Customer Service.
After raising a ticket, people had to wait for insane amount of time before getting a reply.
After going through these threads, i gave up hope and thought to myself that I probably shouldn't have entered this space as portrayed by the mainstream as DANGEROUS.
Big Relief -- It took more than 24hrs for them to process my withdrawal! Can you believe it!
And i was given a warning by Poloniex that they would freeze my account if i did NOT trade. OMG!
Lesson learnt- Never would I use this exchange again. And then I learnt about Binance - Made life much more convenient.
ANOTHER INCIDENT:
People don't really learn their lessons sometimes. Right?
Now coming to February 2019, I was really interested in Grin. And it was listed on this exchange. Since I was unsure about other little known exchanges, I was in two minds but then knowing the potential of Grin I went ahead, transferred some BTC and soon after, I did some research and I did not want to trade, so I withdrew my BTC.
Raised a ticket, NO LUCK.
AND THIS TIME IT TOOK them 8 - 10 hours to process it. Gosh.
NEVER AGAIN. POLONIEX.
