Is poloniex safe?

[Laura2003]

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

[1714980725]

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[1714980725]

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[alastantiger]

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

I have never used them from from looking at trust pilot reviews, it turns out that when they started around 2014 they used to be great in terms or their services, deposit and withdraws but recently the reviews about them falls between a shitty service and scam. A lot of their users are complaining about being unable to withdraw their funds after a period of time. They are disappointed, frustrated and have regrets.
Here is their review - https://www.trustpilot.com/review/poloniex.com

To avoid these issues just stick with a trusted crypto exchanges use mainly the top four or five but with extreme caution. Check coinmarketcap for their rankings.

[MAAManda]

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

I used this exchange a few years ago and never had any problems from my side, but don't know that now because I never use it anymore. And as @alastantiger said, according to the Poloniex Trustpilot page there are lots of bad reviews about them, even those reviews happened recently. So it's better to avoid this exchange, there are tons of better top-tier exchanges like Binance, KuCoin, Gate.io, MEXC and others.

[cryptoaddictchie]

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

As far as I know poloniex is affiliated or owned by Justin Sun if its true then its a legit one. That guy maybe shabby enough but his a legit prominent person in crypto. Never used poloniex as far as I remember cause it was an old exchange since then but I think they are legit cex.

[goldkingcoiner]

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

Stay away from centralized exchanges. They will find ways to extort your KYC as well as your money from you. And they will probably sell your data (passport and so on...) and they will claim it was due to a "hack" to avoid responsiblity.

I have had no issues with Poloniex but they do tend to disable coins for weeks without warning, which sends the price down hard because the trading volume and liquidity of Poloniex is really low. Especially during bull runs. So it might not be a scam but it is sketchy.

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

I have never used them from from looking at trust pilot reviews, it turns out that when they started around 2014 they used to be great in terms or their services, deposit and withdraws but recently the reviews about them falls between a shitty service and scam. A lot of their users are complaining about being unable to withdraw their funds after a period of time. They are disappointed, frustrated and have regrets.
Here is their review - https://www.trustpilot.com/review/poloniex.com

To avoid these issues just stick with a trusted crypto exchanges use mainly the top four or five but with extreme caution. Check coinmarketcap for their rankings.

It would seem that Trustpilot is not trustworthy when it comes to reviews. Look at the Binance, Mexc or any other cryptocurrency exchange reviews. Either 2 stars or lower. CEX is trash yes, but how can the reviews all be bad? And why does TP delete some reviews but not others?

Rather than a review website, it seems to be more of an extortion website to me....

[sokani]

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

Just to add to what the first two posters said above. I did not want to rely on Trustpilot reviews alone, so I took a look at Poloniex's reddit page and there are many dissatisfied customers complaining of their services. The scam accusations against them are overwhelming and not looking good.

• https://www.reddit.com/r/poloniex/s/mmZsEXSFJD

• https://www.reddit.com/r/poloniex/s/lFUDftiRU9

Aside Poloniex, there are many other reputable CEXs you can settle for. If Binance, Kucoin or OKX are allowed in your jurisdiction then I'd suggest you use either of them.

[Plaguedeath]

If you have an alternative, you should choose other reputable exchanges because poloniex is no longer popular and seems like not many people use it.

Stay away from centralized exchanges. They will find ways to extort your KYC as well as your money from you. And they will probably sell your data (passport and so on...) and they will claim it was due to a "hack" to avoid responsiblity.

In addition with your reply, @OP if you want to check exchanges without KYC, you can visit kycnot.me

I recommend bisq, agoradesk or robosats.

[dkbit98]

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

Poloniex is obviously not a scam as they exist for many years, but no centralized exchange is safe for keeping coins there like in a wallet, they are meant to be used for trading coins only, not for holding.

[Rikafip]

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

You will find comments like that for basically any centralized exchange (even the most popular ones like Coinbase and Binance ) so that's that.

Having said that, Poloinex is a decent choice if you are in need of CEX, but that of course doesn't mean that you should trust them with large amounts of money, or use it to store your crypto.

[AbuBhakar]

It’s already acquired by Justin Sun. Again Justin Sun. I never trust him and all of the project that involves him because there’s always a looming darkness of uncertainty when he was involved especially about legality.

Poloniex is one of the oldest CEX that still run until now but the change of ownership makes me hesitant to use the exchange anymore. If you are already interested to use CEX then why not choose the top exchange like Binance that has a fee discount if you pay in BNB tokens?

[Aanuoluwatofunmi]

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

Why Polonix when there are other trusted exchanges you can go for without having to fear for anything, if you at least go to the scam accusation board, am sure you would have encountered many threads that reports on this same exchange for one reason or the other, if you're seeing many only reviews talking bad about them, this shows also that there's high probability of them being involved in what others have been saying about them with their encounter i using it, i will advise you don't constitute the numbers of those complaining already about this same exchange, instead make wise decision and get a reputable one and if possible a decentralized exchange like bisq or hodl hodl.

[BIT-BENDER]

First exchange is a very sensitive sector, I actually don't play around with exchanges or do I experiment on it. I am not the one to have used many exchanges, the one I use now has been working for me an I have no problems with it so I don't see the need.

But if I was to change exchange definitely I would consider reputation, I would put into consideration what the public says about their experiences on the exchange that's for sure, that would be my first test but I would try to ensure it's a genuine feedback, so it's up to you to make so with the answers you get here about the exchange and compare/contrast.

[Bushdark]

I don't know if it's the only exchange available to you in your region but it would be better if you can avoid it since there had been bad review a out the exchange. There are so many exchanges you could yiuse to buy Bitcoin and trade in the platform depending on your region. You can always find our later to know what exchange woukd be exceptable in your locality. You can also dive to Coinmarketcap to check for other exchangesike this one that are good to use with less negative reviews.

[Laura2003]

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

[tyz]

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

Are these recent comments? Because Poloniex was actually not recommended in the past. The exchange was hacked and many lost their coins. However, the Exchange now seems to have new owners and is being run more professionally. At least there haven't been any such negative events recently. I wouldn't call the Exchange aebr a scam. But if there is no reason, e.g. because a certain coin is only listed there, then I would rely on larger exchanges like Binance or Kucoin.

[aoluain]

Poloniex has been around for a long time, It was the first exchange I used 7 years ago
but that doesnt actually mean anything.

Treat exchanges exactly for what they were designed to do - exchange. As regards safety,
if you send coins to an exchange, make your trade and remove coins after that trade
you minimise risks.

Using exchanges as a means of storage is risky, you dont know when the next disaster or
issue will happen and you cannot access your coins.

Take control yourself and store your own coins

[The Cryptovator]

Poloniex isn't a scam at all. They might have some issues with blocking funds or suspending accounts, just like other centralised exchanges, but not direct scams. Scam and safe aren't the same thing because no centralised exchanges are safe. They might suspend or seize your funds anytime they want. Currently, I have an issue with Binance, and I am still waiting for their final decision. I will disclose everything if something goes wrong with me. However, use centralised exchanges for trading purposes only. Don't store your funds there; if you don't need to trade, just withdraw from the exchange and hold on to your non-custodial wallet. So your funds will be safe. 

[Benedictare]

   Poloinex is an exchange of cryptocurrency which gives you the opportunity to buy and sell,that is trading digital assets like Bitcoin (BTC), Ether(ETH),and other altcoins, using these exchange you are guarantee of safety during transaction . Way back it was of the most important cryptocurrency . They offer high rate limit and low latency and institutional traders friendly .

   They accept users using their bank account master card e.t.c. ,to purchase crypto and also have trading platform that is good for beginners and experts .

[joniboini]

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

So you're planning to move to another exchange if it is no longer recommended? Do you personally have issues with them or are you asking out of curiosity? Which alternatives are available for you? Keep in mind that you will likely need to do KYC again if you move to another exchange, and even then it doesn't guarantee they won't cause trouble for you. For example, I had trouble with Binance and its partners, but my friends had no trouble with them. I second the suggestion to withdraw your funds if you don't need it for trading. Make it a habit regardless of the exchange you use.

[nakamura12]

If there's a bad review on a review website then you should just stay away from it even if existed for many years already and also it is a cex but if you still want to use then then withdraw your crypto right away after you are done what you are doing.

It would seem that Trustpilot is not trustworthy when it comes to reviews. Look at the Binance, Mexc or any other cryptocurrency exchange reviews. Either 2 stars or lower. CEX is trash yes, but how can the reviews all be bad? And why does TP delete some reviews but not others?

Rather than a review website, it seems to be more of an extortion website to me....

I think it's still a review website but the only difference with another review website is that most of their reviews are biased in which most of it are paid. I think it's because that the reviews that are deleted are no longer profitable for TP that's why it is deleted. It doesn't matter to me anyway since I don't really use their website to check for ratings and such. Not really sure if my claim is true as I don't have any evidence about it that's why I check different review website and compare both information about a website.