Poloniex isn't the best place to trade alts

[IrReAr]

Okay, so in last ~3 weeks, I've come back into crypto, facing some financial difficulties and putting all last financies into old and good btc. I've been using poloniex a lot and that's what I want to share with you. During this month I've been arbitraging and trading a little and got my coins stucked or lost or somewhat for 3 times on polo. The longest one was 4 days and 6 hours, when the system made coin withdrawal but no actual withdrawal happent. I've got my ticket answered only after 4 days. During this I've lost ~5-10% of value in btc of this alt and lost a huge amount of investment/trading oppotinuties I wanted to try. Even though my problem could be solved in 2 minutes with just giving coins back on the account. And after 2 days since resolving the last issue I got into another. Today I saw a 6% gap between trade price on bittrex and polo and wanted to use it. Bought coins, send on actual, working deposit polo wallet and... Nothing. Absolutely nothing happent. So for now it's over -35% of the initial price and will go even more for sure and it's only 13 hours. My ticket won't be solved until 2 of may when it would be delisted so high chance that I will lost everything. It is the most retarded situation - everything is fine in blockexplorer, they received everything, this can be finished in several clicks by polo, but they don't care. Just because of issue on the other side I'm loosing around 0.04 btc minimum.  I know it's not much, but for me it's pretty significant amount and all losses are only because of the technical issues from the exchange side.  
Now I just hate my life and dislike the poloniex for experiencing it. This experience even more devastating than cryptsy's was.
Bittrex is running much more alts markets. But they somehow can deal with them and most problems are solved in several hours. And tickets are answered after 6-12 hours.
But polo while making like 300-400k$ a day now can't hire enough support staff to deal with 600-700 tickets a day and run 20-30 wallets.
You will have to deal with 2-3-4 or even more days to get your tickets finally answered.

So, what I want to say to you - don't trade with alts of high volatility on poloniex - you'll suffer big losses. Avoid depositing not top alts there. They don't care about you. On the my message of like "Thanks for -30% poloniex" in chat after explaining my problem, I've received answer from moderator like "You are welcome." and then was  banned. They are making money and became a little bit lazy.
Thanks for your attention. Avoid dealing with polo in non top 5-10 alts, or you are risking to lose a lot of time and nerves.

[The Sceptical Chymist]

Geez, try not to let it get you that down in the dumps.  I hear what you're saying, and though I've not experienced the same level of bullshit with them, I believe it.  People have much the same thing with Yobit and all the other exchanges.  They're run by people who should never go out in the sunshine, much less run any sort of money-based exchange that requires a certain level of customer service.  You'll note that online stock brokers rarely have this kind of criticism leveled against them, because they know when you deal with people's money you need to have a good relationship with them.  Sounds obvious, but these bitcoin exchanges just do not get it.

[Sled]

There's still a lot of trading site to trade altcoins, you can use another one which is bittrex which is almost the same of poloniex but some of the altcoins are there in bittrex and not on poloniex. If you want to choose a lot of coins and earn a lot of profit from buying almost dying coin and waiting for the whales to pump it up then you can go for yobit which is one of my favorite because the whales are their and the coins there are gaining a lot of % per day.

[raiblock]

But the reason for not having enough staff to handle the workload is no excuse for them.
Everything they do on their site is all done using computers so all their workers can basically just be hired uf they have high speed internet connection a laptop or pc and can be from around the global.
Telecommuters are just workers running out of there homes which this company can do as well to allievate the strain on the other workers who are working in the office as secertaries and IT server people who look after the hardware in their server rooms. But everything else is all automated and can be done over the internet.

[2bfree]

I have problems with them as well.

[Babyrica0226]

Okay, so in last ~3 weeks, I've come back into crypto, facing some financial difficulties and putting all last financies into old and good btc. I've been using poloniex a lot and that's what I want to share with you. During this month I've been arbitraging and trading a little and got my coins stucked or lost or somewhat for 3 times on polo. The longest one was 4 days and 6 hours, when the system made coin withdrawal but no actual withdrawal happent. I've got my ticket answered only after 4 days. During this I've lost ~5-10% of value in btc of this alt and lost a huge amount of investment/trading oppotinuties I wanted to try. Even though my problem could be solved in 2 minutes with just giving coins back on the account. And after 2 days since resolving the last issue I got into another. Today I saw a 6% gap between trade price on bittrex and polo and wanted to use it. Bought coins, send on actual, working deposit polo wallet and... Nothing. Absolutely nothing happent. So for now it's over -35% of the initial price and will go even more for sure and it's only 13 hours. My ticket won't be solved until 2 of may when it would be delisted so high chance that I will lost everything. It is the most retarded situation - everything is fine in blockexplorer, they received everything, this can be finished in several clicks by polo, but they don't care. Just because of issue on the other side I'm loosing around 0.04 btc minimum.  I know it's not much, but for me it's pretty significant amount and all losses are only because of the technical issues from the exchange side.  
Now I just hate my life and hate the poloniex for experiencing it. This experience even more devastating than cryptsy's was.
Bittrex is running much more alts markets. But they somehow can deal with them and most problems are solved in several hours. And tickets are answered after 6-12 hours.
But polo while making like 300-400k$ a day now can't hire enough support staff to deal with 600-700 tickets a day and run 20-30 wallets.
You will have to deal with 2-3-4 or even more days to get your tickets finally answered.

So, what I want to say to you - don't trade with alts of high volatility on poloniex - you'll suffer big losses. Avoid depositing not top alts there. They don't care about you. On the my message of like "Thanks for -30% poloniex" in chat after explaining my problem, I've received answer from moderator like "You are welcome." and then was  banned. They are making money and don't give a fuck about customers.
Thanks for your attention. Avoid dealing with polo in non top 5-10 alts, or you are risking to lose a lot of time and nerves.

Well, I guess this is the first I read in the forum that poloniex have some issues like what happened to you. Because most of the time, people here most often recommend Poloniex as one of the best exchange platform in this industry. Even I'm just a newbie, So far I am using Bittrex.com  as my personal trading platform, and I'm not facing any problems for a couple of days using it. I think it is much better for you to use some other trading site where you gonna continue to trade in, try Bittrex.

[Harry Callahan]

I can tell that i did have a problem with Poloniex yesterday. I am holding a coin which is marked to be delisted on may 2 and i saw an arbitrary opportunity and tried to withdraw it but never went through but it is showing a transaction ID but it is still not showing in the block chain and opened a ticket 16 hours back and i am yet to get a reply from them regarding it and the bad thing is i am in a heavy loss right now because i am not sure when the coin will appear in my wallet and the price has gone down drastically .

[cabron]

Logging using a desktop and then to a laptop is an issue to them. I have to keep using the same laptop over and over and when I tried logging my desktop, my password don't work. Seem a very odd exchange which is why i don't use them regularly.

[IrReAr]

Geez, try not to let it get you that down in the dumps.  I hear what you're saying, and though I've not experienced the same level of bullshit with them, I believe it.  People have much the same thing with Yobit and all the other exchanges.  They're run by people who should never go out in the sunshine, much less run any sort of money-based exchange that requires a certain level of customer service.  You'll note that online stock brokers rarely have this kind of criticism leveled against them, because they know when you deal with people's money you need to have a good relationship with them.  Sounds obvious, but these bitcoin exchanges just do not get it.

Yeah. I don't know why but so many exhanges just don't care about there reputation. They just need to spend additional 1-2k$ on support team to solve all tickets properly and clean there reputation but they don't want for some reason.

So for now it's -40% and over 24 hours since thhe deposit, no answer on ticket

[Qartada]

Geez, try not to let it get you that down in the dumps.  I hear what you're saying, and though I've not experienced the same level of bullshit with them, I believe it.  People have much the same thing with Yobit and all the other exchanges.  They're run by people who should never go out in the sunshine, much less run any sort of money-based exchange that requires a certain level of customer service.  You'll note that online stock brokers rarely have this kind of criticism leveled against them, because they know when you deal with people's money you need to have a good relationship with them.  Sounds obvious, but these bitcoin exchanges just do not get it.

Yeah. I don't know why but so many exhanges just don't care about there reputation. They just need to spend additional 1-2k$ on support team to solve all tickets properly and clean there reputation but they don't want for some reason.

So for now it's -40% and over 24 hours since thhe deposit, no answer on ticket

It's because compared to other places, Poloniex actually is a pretty good place to trade alts.  The problem is that Bitcoin related exchanges in general are pretty crap right now and Poloniex isn't going to be any different (especially with the state of USDT right now - this could just be the tip of the iceberg).

[babysweetTiger0401]

Okay, so in last ~3 weeks, I've come back into crypto, facing some financial difficulties and putting all last financies into old and good btc. I've been using poloniex a lot and that's what I want to share with you. During this month I've been arbitraging and trading a little and got my coins stucked or lost or somewhat for 3 times on polo. The longest one was 4 days and 6 hours, when the system made coin withdrawal but no actual withdrawal happent. I've got my ticket answered only after 4 days. During this I've lost ~5-10% of value in btc of this alt and lost a huge amount of investment/trading oppotinuties I wanted to try. Even though my problem could be solved in 2 minutes with just giving coins back on the account. And after 2 days since resolving the last issue I got into another. Today I saw a 6% gap between trade price on bittrex and polo and wanted to use it. Bought coins, send on actual, working deposit polo wallet and... Nothing. Absolutely nothing happent. So for now it's over -35% of the initial price and will go even more for sure and it's only 13 hours. My ticket won't be solved until 2 of may when it would be delisted so high chance that I will lost everything. It is the most retarded situation - everything is fine in blockexplorer, they received everything, this can be finished in several clicks by polo, but they don't care. Just because of issue on the other side I'm loosing around 0.04 btc minimum.  I know it's not much, but for me it's pretty significant amount and all losses are only because of the technical issues from the exchange side.  
Now I just hate my life and hate the poloniex for experiencing it. This experience even more devastating than cryptsy's was.
Bittrex is running much more alts markets. But they somehow can deal with them and most problems are solved in several hours. And tickets are answered after 6-12 hours.
But polo while making like 300-400k$ a day now can't hire enough support staff to deal with 600-700 tickets a day and run 20-30 wallets.
You will have to deal with 2-3-4 or even more days to get your tickets finally answered.

So, what I want to say to you - don't trade with alts of high volatility on poloniex - you'll suffer big losses. Avoid depositing not top alts there. They don't care about you. On the my message of like "Thanks for -30% poloniex" in chat after explaining my problem, I've received answer from moderator like "You are welcome." and then was  banned. They are making money and don't give a fuck about customers.
Thanks for your attention. Avoid dealing with polo in non top 5-10 alts, or you are risking to lose a lot of time and nerves.

I think this is bad for the Poloniex, someone is not satisfy to their services, this first time happen I hope this will get affect by the poloniex because of this concern.

[IrReAr]

Geez, try not to let it get you that down in the dumps.  I hear what you're saying, and though I've not experienced the same level of bullshit with them, I believe it.  People have much the same thing with Yobit and all the other exchanges.  They're run by people who should never go out in the sunshine, much less run any sort of money-based exchange that requires a certain level of customer service.  You'll note that online stock brokers rarely have this kind of criticism leveled against them, because they know when you deal with people's money you need to have a good relationship with them.  Sounds obvious, but these bitcoin exchanges just do not get it.

Yeah. I don't know why but so many exhanges just don't care about there reputation. They just need to spend additional 1-2k$ on support team to solve all tickets properly and clean there reputation but they don't want for some reason.

So for now it's -40% and over 24 hours since thhe deposit, no answer on ticket

It's because compared to other places, Poloniex actually is a pretty good place to trade alts.  The problem is that Bitcoin related exchanges in general are pretty crap right now and Poloniex isn't going to be any different (especially with the state of USDT right now - this could just be the tip of the iceberg).

I agree that poloniex was always one of the best and most well-coded and functioning exchanges and had like a close to perfect reputation. And I always loved it and thought that I can rely on it. But they had the whole Apri(the mass new users boom started in the end of march) to hire new support staff. Now they are getting 600-700 tickets a day(it's not THAT many). It's ~70-90 human working hours a day.  It's 10-20 support members. And it costs no more than 1-2% of there revenue from trading. Hope they will figure it out ASAP. And there technical issues would be paid by common customers, just like me.

[mrnakayouknowwho]

Yeah, you would think that a site making over 500k usd per day could hire some decent support staff. There's absolutely no excuse for it. Their support is the worst of any major exchange, save for for Kraken maybe - but I haven't had any problems with them.

Their confirmation times are ridiculously slow and their deposit/withdrawal system needs a major upgrade/overhaul. Its pathetic. They're missing TONS of features that even tiny exchanges have.

I recommend that you avoid coins that are going to be delisted or ones that are prone to withdrawal/deposit errors. Or you just have to factor it into the equation. eg how often is it happening and how much does it cost when it does vs how much you stand to gain.

I'm waiting and praying for the day that someone dethrones polo. It's so ripe for disruption but they have the network effect/liquidity and that that's basically the most important thing so they get away with being lazy and inept.

[BrewMaster]

sometimes when some of these services become big enough that they are making a lot of money, they stop caring about customers and keeping them happy. i remember back in 2014 (or maybe it was 2015) the site was a good and smaller place. then after years of pump and dumping and making millions they became rich and stopped giving a shit about anybody!

as for your problem, here is my experience as someone who has done arbitrage with these altcoins:
sometimes they don't sync the wallet for some of these altcoins or do it with delays to save up on server resources. and that can cause a lot of delays.
also in most cases their hot wallet is empty and they have to go to their cold storages and send the funds manually or they may not even have any of that coin to give to you but that has a lower chance. and all this means more delays.

also there is always a reason why an exchange have a higher price than the other! a lot of us are watching the market and will arbitrage the shit out of the coin if it was easy or possible

and i agree that bittrex is a much better platform with less problems than polo. it has a better interface which also loads faster too! but i hate bittrex API it has nothing more than basic commands!

[IrReAr]

sometimes when some of these services become big enough that they are making a lot of money, they stop caring about customers and keeping them happy. i remember back in 2014 (or maybe it was 2015) the site was a good and smaller place. then after years of pump and dumping and making millions they became rich and stopped giving a shit about anybody!

as for your problem, here is my experience as someone who has done arbitrage with these altcoins:
sometimes they don't sync the wallet for some of these altcoins or do it with delays to save up on server resources. and that can cause a lot of delays.
also in most cases their hot wallet is empty and they have to go to their cold storages and send the funds manually or they may not even have any of that coin to give to you but that has a lower chance. and all this means more delays.

also there is always a reason why an exchange have a higher price than the other! a lot of us are watching the market and will arbitrage the shit out of the coin if it was easy or possible

and i agree that bittrex is a much better platform with less problems than polo. it has a better interface which also loads faster too! but i hate bittrex API it has nothing more than basic commands!

Yp, same experience. But you can get some profit from arbitrage during pump.
BTW by now I've lost estimated 50%. So cool.  Still no answer from support.

[omonuyak]

When I was going through your post I just got an intuition that they is something God or your subconscious mind want you to learn about trading and until you learn that you may continue facing this frustrating circumstances you are facing currently. Sorry if you think I sounds religion but that is the reality.

[sikke]

I really dont think that the OP might be right in this case. Poloniex, at least for me is a great place to trade altcoins because of many reasons and the most important one, is that I had never encountered any problems with processing my withdrawals to the given address.
For example, you may withdraw cryptocurrencies worth even up to 2000$ daily without any ID identification.
That is something really great, because we can still keep ourselves anonymous while trading because you can simply schedule your payments in a proper way, to not have any problems with the limit.

Also, everybody needs to remember that Polo is pretty much the biggest cryptocurrency exchange, so the volume is really high.
Personally, I dont know any place better for alt trading than Poloniex.

[gentlemand]

Also, everybody needs to remember that Polo is pretty much the biggest cryptocurrency exchange, so the volume is really high.
Personally, I dont know any place better for alt trading than Poloniex.

I automatically don't trust any one place that becomes that influential.

What would happen to the alt market if it went down in flames? And there've certainly been some questionable moments such as their pre delisting pumps and the way ETC was launched.

[erikalui]

It's the case with all exchanges. They all seem to have problems with wallets (mostly Yobit) and then you can't withdraw the coins while the price keeps dipping faster. It's better to store coins in the original windows wallet and as and when you find the price stable or profitable on any exchange of your choice, sell the coins. No need of storing coins on exchanges when you can use the original wallet. Also, in your case you are concerned about the price but that's not the exact issue with poloniex. It's the same with every altcoin treading site. It depends on their market and volatility is the same with all coins whether ETH or another small altcoin.

[jingsu1]

Okay, so in last ~3 weeks, I've come back into crypto, facing some financial difficulties and putting all last financies into old and good btc. I've been using poloniex a lot and that's what I want to share with you. During this month I've been arbitraging and trading a little and got my coins stucked or lost or somewhat for 3 times on polo. The longest one was 4 days and 6 hours, when the system made coin withdrawal but no actual withdrawal happent. I've got my ticket answered only after 4 days. During this I've lost ~5-10% of value in btc of this alt and lost a huge amount of investment/trading oppotinuties I wanted to try. Even though my problem could be solved in 2 minutes with just giving coins back on the account. And after 2 days since resolving the last issue I got into another. Today I saw a 6% gap between trade price on bittrex and polo and wanted to use it. Bought coins, send on actual, working deposit polo wallet and... Nothing. Absolutely nothing happent. So for now it's over -35% of the initial price and will go even more for sure and it's only 13 hours. My ticket won't be solved until 2 of may when it would be delisted so high chance that I will lost everything. It is the most retarded situation - everything is fine in blockexplorer, they received everything, this can be finished in several clicks by polo, but they don't care. Just because of issue on the other side I'm loosing around 0.04 btc minimum.  I know it's not much, but for me it's pretty significant amount and all losses are only because of the technical issues from the exchange side.  
Now I just hate my life and dislike the poloniex for experiencing it. This experience even more devastating than cryptsy's was.
Bittrex is running much more alts markets. But they somehow can deal with them and most problems are solved in several hours. And tickets are answered after 6-12 hours.
But polo while making like 300-400k$ a day now can't hire enough support staff to deal with 600-700 tickets a day and run 20-30 wallets.
You will have to deal with 2-3-4 or even more days to get your tickets finally answered.

So, what I want to say to you - don't trade with alts of high volatility on poloniex - you'll suffer big losses. Avoid depositing not top alts there. They don't care about you. On the my message of like "Thanks for -30% poloniex" in chat after explaining my problem, I've received answer from moderator like "You are welcome." and then was  banned. They are making money and became a little bit lazy.
Thanks for your attention. Avoid dealing with polo in non top 5-10 alts, or you are risking to lose a lot of time and nerves.

Yeah they definitely have a huge monopoly-like control over the exchanges. Their competitors don't come very close so they aren't too worried about losing one or two customers.