Bitcoin Forum

Hello,
I opened account on Poloniex a month ago , i traded some coins there , i am still under 2000$ limit.
How can i get limit increase , does anyone here have high limit?

Thank you.

You need to get verified, which raises the withdrawal limit to $25000

Edit: link: poloniex.com/profile

Level 2 verification should give you a daily withdrawal limit $25,000 USD equivalent . A lot of information's are asked though, not only you should provide your name and phone number + address but also a scanned ID + you holding the ID as shown on the picture (https://poloniex.com/images/ID-upload-samples.png) , If you think about it , It probably doesn't worth it as you real info may be used later or sold.

My suggestion. Do not upload any form of identification that would compromise you or your privacy, maybe not now but in the future. It would be better to open multiple accounts with them to ensure that your privacy remains intact since they do not allow adding and changing of Bitcoin addresses. I do not think opening multiple accounts with them is against their TOS. In fact I think they allow it since you can link different accounts that you own.

My account says , what the trading limit exactly mean? I have order of 2010$ then my order will not be completed as it is more than 2000$?? Please explain.

When OP is concerning about submitting documents due to his privacy/ security reasons, he can have multiple accounts (different email IDs are enough) with same exchange or we can trade on multiple exchanges to have high withdraw limit. 

better the OP gets verified until level 3 because in level 3, we have increase our daily limit which is $25,000.00, i don't know exactly what its mean but i mean sure it will for the withdraw or deposit for daily that we can use.

to get verified until level 3, we only send some document and our ID to poloniex and then they will check it and once approved, then we can increase our daily limit.

IMO, the remaining amount limit just only for our withdrawal, it is mean, you just can withdraw max USD 2k in a day/daily since you are still on level 1. You can also ask moderators on troll box for further answer.

Good idea. But I guess I do not need to have multiple accounts because being a basic email only verified account holder, I'm having enough limits for withdrawing. It is only for professional traders with the huge volumes may require to follow your idea if they are very much worrying about their privacy and not willing to submit their documents.

I also open account with poloniex but find difficult to understand how to set a limit. But from what you are said I think is different from what op is asking.

what limit? all you need to do is complete the data member, send the document that poloniex asked, waiting for at least 1-3 days for the review from poloniex staff and then if your request is approve, the limit will be increase. i think better you try first and we'll see what is happen then.

Real simple, you want a higher limit you need to provide more personal information.  How much information you want them to have is up to you but your limits with be constricted if you limit the information you give them....question tou need to ask yourself, do you trust them?  Thats up to you

I have never heard of Poloniex selling the personal details of their customers. The verification process is just to comply with the KYC (Know Your Customer) rules.

Ya it is true that genuine exchanges are asking full details of the customers as per the KYC rules and i dont think that it is wrong when you are not doing any wrong. And even you can show the transaction of your trading in tax law as short term profit from trading.

I am having more confident that I will not turn wrong but how I could expect the same from an exchange provider. Recent news one big wallet cum exchange services is shocking us that they might share their database with some government agencies.

Practically P2P exchanges will have unlimited volumes and we must move toward that by setting up a group with local bitcoiners.

What I said is pretty much valid for all big companies out there including Facebook , Google and others , If those information's aren't sold then they are used somehow , either for advertising or something else . Assuming they are do not use them at all , do you want to happen what happened with Coinbase where IRS won in court ? I don't.

Are the daily limits referring to withdrawing USD, or withdrawing the equivalent of USD in cryptocurrency?

If the latter, what is the point of it? Are the limits roughly the same on all the exchanges?

the equivalent in everything on there.

limits vary from exchange to exchange. in theory they don't have to do any verification because there's no fiat but they're probably getting ready for a future beating from the law.

and anyone suggesting opening multiple accounts is dumb. you don't think they'll pick up on the same IP? you'll have to verify after they shut all your other accounts.

You may send your documents and details to them for verification or you can make multiple accounts and have fun. I have never reached the limit they give for a basic level 1 account but if I ever reached I would just make a new account and start with it. Just like how we do with dice gambling sites, though if they allow it.

Correct, OP should be get verified in order to increased his limits. For me I am very wary of sending my personal details. Your second suggestion is also doable, to have a multiple account but I do not know if they permit this. :)

If I were you I would rather stay at that position.
You will be risking your identity in making it larger and that you will not like.
I guess this is the trend for every website wallets and trading sites.
Question is are you willing to give that kind of information? Better stay at the gray side if anything ever happens you will be safe.

Yes I agree with your first point because no matter how trusted a site is they may anytime leave you in tatters by disclosing your documents to some third parties.

Though your second point may create issues since the site put limits on you so that you verify once that is reached and if you open multiple accounts and mistakenly opened several accounts with same IP you might forfeit your all savings.

But why do illegal activities when we are not doing anything wrong ?

I mean suppose you open 10+ accounts to get higher limits and you withdraw to a particular address from them all then poloniex will easily catch you and hang up your earnings ultimately asking for proofs and sometimes they just don't even ask for proofs since you CHEATED as per them and their rules.

to me i think every exchanges have their own rules and regulation and if you want to us an exchange for buying or selling alt coin or bitcoin then you must follow these rules and regulation.

If someone is doing well with their purchases, the amount traded will increase, and eventually they will reach the limit on whatever exchange they are using (assuming all the exchanges have similar limits). Meaning they have to get verified. Which is curious because one of the initial draws of cryptocurrency is anonymity, etc, but in reality it cannot be achieved. Even the anonymous cryptocurrencies in high limits are going to be traded on exchanges.

The latter. Yeah it same on every coins in your account.
As has been said before, don't send your personal information into internet even that's very trustful to share might be in the future they misused your information for illegal stuffs. But, If you want you can do it with your own risk.

Got my account verified today, they take your identification and then try to locate your home from Google map and once it is OK then they activate your account.
It's pretty easy, even you can fake the details easily but I don't recommend as in between if they freeze your account with money in it then you are doomed.

You have to go through the ID process, i dont think it has anything to do with the amount you trade.  its about the amount you can remove from your account each day.

You need to pass verification process. Here's a detailed explanation (http://www.bestbitcoinexchange.net/en/poloniex-com/) of the process and what documents you need to do it.

To increase your limit in doing deposit or withdraw within your account in poloniex. You need to submit an application or verify your account by submitting different kind of proof like your Valid ID and some documents and just after a few days your limit will increase and you can make more deposit or withdraw within that site.

i have 1 BTC in poloniex account after attempting few unverified account verification my withdraw limit is 0$. and send ticket to support but not get any reply, is there any solution for it ?

You need to verify just submit the requirements what is needed. Read the terms and condition.. i have advise to you just enable 2fa.

Get your account verified by providing your photo ID , your bills and photos of them with your real face.

my poloniex is verification legacy. i do all they need. upload use webcam/manual file upload.my photo with smile face  ;D photo id card front/back. the last reason they support give is (my address is not in google db).so my validation is denied. i from malaysia f**K google coz not update my road n address n postal code..bla bla bla. but my brother poloniex account is full verification ( we both use same address in photo ID card)
how my brother's account can be verification? now i alway try to do verification via support n form  :P coz i hold $100K asset at poloniex

What have increase your limit on poloniex now !!
Thing is simple to verif identity :D

like many others said, you need to verify your account and I suggest you get verified until level 3 because it will make you easy to withdraw and deposit. it is better to get verified on many exchanges so we can trade without worry about something but don't forget to activate the 2fa to make sure that your account is safe. I think after you send your document, you need to wait until a week but sometime it will only take a few days to increase your level.