Is poloniex safe?

[Saint-loup]

I saw in some comments some people dissapointed or saying poloniex is scam, what do you think?

It would be better if you could provide some links supporting those claims, because we don't see people reporting such scam accusations in the dedicated section. Poloniex had a good reputation since it is one of the oldest exchanges and one of the very few ones whose decided to remove mandatory KYC process after imposing it to its customers, gladly. Anyway since it is related to Justin Sun now, it is not approciated by many people.

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[Ultegra134]

It would be better if you could provide some links supporting those claims, because we don't see people reporting such scams in the scam section

I'm guessing that the OP is referring to the reviews on TrustPilot (1.1 out of 5), quoting the link for reference.

https://www.trustpilot.com/review/poloniex.com

It certainly doesn't have the best reviews, but I don't think any centralized exchange has positive reviews, Binance has 2/5 rating on the same website, Bitstamp 2.1/5, Coinbase 1.5/5. So it's quite fair to say that the reviews don't necessarily represent anything.

I've used Poloniex the first years of my involvement with cryptocurrencies, didn't have any issues, but I've stopped using it and switched to other exchanges, such as Kraken, Bitstamp and finally Binance.

[tabas]

I saw in some comments some people dissapointed or saying poloniex is scam, what do you think?

They've been there for years but I haven't used them again. If you're looking for an exchange, try to look for another one. Majority of the people here have stopped using them and even if Justin Sun has acquired the ownership of this exchange, it doesn't mean that it's still good compared before. It's one of the oldest exchanges out there but they're gone out of the ranks. Looking at them quickly, they seem to be very active with airdrop distributions.

[Rikafip]

I saw some of you asking why i chose poloniex, i have an account with them already since few years ago and is verified, that's the main reason.
I also have something in my wallet there

Even if you are satisfied with Poloniex in these few years that you have been using them, you shouldn't store your crypto there. Keep in mind that that old saying "not your keys not your money" no matter the exchange and you should be fine.

By the way, I don't know if anyone noticed but for some reason Poloniex is not on the list of exchange on CMC/Coingecko. I mean, you can find it manually if you type their name in the search bar but for some reason its not on the list, or at least I can't find it.

[Kristiyana]

I saw some of you asking why i chose poloniex, i have an account with them already since few years ago and is verified, that's the main reason.
I also have something in my wallet there

Even if you are satisfied with Poloniex in these few years that you have been using them, you shouldn't store your crypto there. Keep in mind that that old saying "not your keys not your money" no matter the exchange and you should be fine.

By the way, I don't know if anyone noticed but for some reason Poloniex is not on the list of exchange on CMC/Coingecko. I mean, you can find it manually if you type their name in the search bar but for some reason its not on the list, or at least I can't find it.

Delete

[Bobrox]

Currently I don't know with the new update about poloniex exchange is safe or not after more than two years not use yet with this exchange, firstly I used with this exchange and running well with deposit and withdrawing fund such as the other exchange and looking forward Kucoin when listing premier coins I move all assets from Poloniex to Kucoin.
Latest update, the Tron founder Justin Sun acquisition with Poloniex exchange, its will bring positive viewed but can't guarantee for long term investment and hold coins in this exchange will be secure. For short term trader maybe its not bad ideas using this exchange but check with their telegram channel discussion group are Poloniex have positive or negative reviewed when depositing or withdrawing fund.

[Kristiyana]

Currently I don't know with the new update about poloniex exchange is safe or not after more than two years not use yet with this exchange, firstly I used with this exchange and running well with deposit and withdrawing fund such as the other exchange and looking forward Kucoin when listing premier coins I move all assets from Poloniex to Kucoin.
Latest update, the Tron founder Justin Sun acquisition with Poloniex exchange, its will bring positive viewed but can't guarantee for long term investment and hold coins in this exchange will be secure. For short term trader maybe its not bad ideas using this exchange but check with their telegram channel discussion group are Poloniex have positive or negative reviewed when depositing or withdrawing fund.

Well I have no idea about poloniex this is my first time of hearing about poloniex I need someone to enlighten me the more about poloniex,how those it works?

Thanks in advance

[Potato Chips]

By the way, I don't know if anyone noticed but for some reason Poloniex is not on the list of exchange on CMC/Coingecko. I mean, you can find it manually if you type their name in the search bar but for some reason its not on the list, or at least I can't find it.

Probably because poloniex ranked too low to be on the first page? They were at the second page on coingecko.

Poloniex was once at the top but have lost most of their userbase because they fucked up and better competitors entered the market. Coingecko also does place a lot of emphasis on their trust score metric in terms of ranking and poloniex is at 5/10. It also appears coingecko revamped their rankings because I'm pretty sure binance was at the top, last time I checked lol.

Well I have no idea about poloniex this is my first time of hearing about poloniex I need someone to enlighten me the more about poloniex,how those it works?

Thanks in advance

But are you at least familiar with exchanges e.g. binance, kucoin, etc? because most custodial exchanges like poloniex functions similarly.

If you're looking for platform specific things like account limits, head over to the exchange's help center for self-help articles. Directories like coingecko also lays out basic information for each exchanges.

[BlackBoss_]

Probably because poloniex ranked too low to be on the first page? They were at the second page on coingecko.

Poloniex is ranked at 109th on Coingecko.com and on Coinmarketcap, its rank is 81th and on pages #2 of both marketcap sites.
https://www.coingecko.com/en/exchanges?page=2
https://coinmarketcap.com/rankings/exchanges/

Poloniex was once at the top but have lost most of their userbase because they fucked up and better competitors entered the market. Coingecko also does place a lot of emphasis on their trust score metric in terms of ranking and poloniex is at 5/10. It also appears coingecko revamped their rankings because I'm pretty sure binance was at the top, last time I checked lol.

They lost their user base to Bittrex exchange that was closed last year and Binance.

The reputation, trust score from Coinmarketcap or Coingecko is based on their own formulas and can be not neutral ranks like different ranks for Binance (global) on Coinmarketcap and Coingecko.

[God bless u]

I don't think you can say it's a scam in that sense but it's not the perfect choice to get your transactions. According to my knowledge it's banned in the US and there should be some reasons behind that. The US normally doesn't block platforms like that if they're doing so there should be a reason behind that.

The second point is that it was hacked once and the owners acknowledge this. They claimed to repay for the loss that users bear but trusting the platform again is not something that's very easy. So it's safe to stay away from these kinds of platforms just in order to have a safer site for your assets.

[moneystery]

as far as i know, poloniex is an exchange that has been operating for a long time, but i have never used it, maybe because their services are not that interesting to me. however, looking at the trustpilot site, there are a lot of bad reviews about their services, i don't know whether they are genuine or just made up (since reviews on trustpilot can be made up). but it's good if you can choose to use an exchange that is more credible and has been used by more people such as binance, coinbase, etc., you know it's better to anticipate than to experience losses later.

[tech30338]

if im not mistaken the only time i heard poloniex has been hacked was last year, i been using the exchange since 2016 if I'm not mistaken but i have never encounter issue with them, the only problem that i might say is the look of the exchange it never been change or upgrade the looks but all in all i can say its safe, but if you really want to be safe, buy a hardware wallet.

[Asuspawer09]

I saw in some comments some people dissapointed or saying poloniex is scam, what do you think?

Poloniex has been running for years so we could say that's a legitimate exchange, I had a Poloniex account as well back in 2017 it was running pretty well that is were I started trading on cryptocurrency until I had some issues with it, that doesnt happen to other exchanges, my account was actually locked with a little funds on it, I didn't open it for a long time but when I get back on it I wasn't able to recover it which doesnt really happened on other exchanges like Binance especially when you take a break on trading usually you could easily recover your funds on it. Plus there are a lot of reported issues out there of freezing accounts, and loss of cryptocurrency in the platform.

At this moment the website is still running and I can see that there are a lot of updates that are going on especially with the UI design of there website, still with my experience of using the website I wouldn't going to recommend you go to this exchange not to mention it was a centralized exchange if you are planning to do trading I would easily recommend going with the trusted one and popular one like Binance, here in my country Bybit was also popular. Dont waste your time trading on this platform because there are already a lot of cases and issues on it so for me that's a red flag.

[SamReomo]

I saw in some comments some people dissapointed or saying poloniex is scam, what do you think?

I used to trade on that exchange in 2018 and it wasn't a scam exchange at all. I kept a few dollars in that exchange for 3 years and none of my funds were affected in any way, I withdrawn those in 2021 without any issues.

From my own experience with that exchange, I can say that it's a reliable exchange. However, I must tell you that I had around $100 which isn't a huge amount by any means but if they didn't interfere with $100 then I'm sure they won't do with $1000 either.

[ascqrwasc33]

Poloniex did an exit scam right before they were being bought by CIRCLE in 2019. They put up a notice stating that from some X month in the future, KYC would become mandatory for everyone and non-compliant users would not be able to trade any further but would be able to withdraw at least. Like me, thousands of  users decided to wait and just stop trading when the date arrived and safely at least withdraw.. Poloniex changed their tune entirely suddenly and even *edited that announcement* They entirely removed that statement that they would allow withdrawals.

That day many realised that even regulated exchanges are not safe. Even the ones that tried KYC were not able to get through. Lots of users had not used their real names during registration - how does Poloniex expect a user to get a passport that states he is John EffsyourwifeDickman ??



More here https://cointelegraph.com/news/poloniex-is-officially-in-trouble-after-ignoring-hoards-of-complaining-customers


Polo is a thief.. Usee any and every chance to DDoS them!! They are thieves!!