The woes of Polo continue
I checked their Twitter. No update. However looking at the poloniex hashtag feed on Twitter it appears numerous users have been experiencing the same problem.
Disconcerting
More troubling than the issues is the lack of communication. DDOS attacks come with the territory with crypto exchanges. As does system downtime. However when an exchange starts to go dark on communication to its user, that is usually a red flag.
Race against time
Like many users, I've been trying to withdraw what I can from Poloniex on a daily basis. The warning signs have been there for a while. Thankfully most of what I had on the exchange is off of it.
This is not financial advice... however it would seem prudent to limit any exposure you have on Poloniex for the foeseeable future.
Never has the maxim "do not invest (or trade), what you cannot afford to lose" been more true than now!
Haha! Made my day!
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Seems fine now, but I've been moving my XRP funds off into a cold wallet ever since the Troll Box vanished. That seemed like a giant warning sign to me. Slow going because of the daily limit, but I'm almost done now.
can you give an example of a cold wallet one can store his coins safely? I have some coins on poloniex and bittrex and with these kind of news, it is not safe to keep them there.
XRP? I didn't trust any of the web based solutions, so in the end I installed the official ripple software and used the command "rippled wallet_propose" to create a new wallet.
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It does look as though the writing is on the wall. To me it looks like a problem of scaling. They got greedy and allowed too many people to sign up before they were able to deal with the demand it would cause. Maybe, they'll dig themselves out of the hole if enough people go elsewhere and lighten the load. But any kind of 'run' on them could cause a complete loss of confidence and then they're in real trouble.
Not a good sign
Just couldn't reach it too, but I think it is to early to blame them, many exchanges have trouble at the moment. The crypto market is expanding so fast that even exchanges have scaling problems.
I think POLO was signalign problems for like..1 month or more. Countless people wrote about it. No need to hodl any coins there :(
I hope you did not have many...
I made a mistake a couple of weeks ago of sending 90% of one coin I owned (instead of 10%). Been trying to claw it back every since. A few more days and I'll be clear.
... I don't trust them enough to give my personal ID details to withdraw larger amounts.
I think that's a bluff...a friend of mine ha 1x btc there. He had to withdraw in <1btc / 24hour and he has all the data there. That's when we knew the shit is about to hit the fan.
I'm happy you got out and really, thank you for this post. People need to know and polo needs to pay the consequences of their fkups even if they don't go bellyup ( which I really hope they won't as it would be bad for ll crypto )
haha yea, since they have put a $2000 limit on daily withdrawals, nowadays u can't even withdraw 1 BTC on a single day
It's back up now, btw. Steem deposits postponed.
This happened a few weeks back, when XRP and STR was pumping really hard and at the same time they were DDOS attacked. Seems "normal" for Poloniex. I've also moved my funds to Bittrex. Where do you guys trade, what platform?
Bittrex and Poloniex is still probably the best places to trade altcoins. However I'd advise against leaving funds on any exchange. Trade and then back to wallet. It might mean monitor price movements more frequently (vs leaving orders on books) but the risks if losing funds on exchanges are too high imo.
I'd also caution against trading large amounts on Poloniex at the moment.
It's up and running already.
They never update their Twitter, and their customer service is horrible. The site's dying for almost two months. I still don't get why people store anything there or in exchange sites in general.
What is a better way to store cryptocurrency ? Is there a quality wallet with low to no fees associated?
@ragnartheking
Depends on what crypto are we talking about.
You can store all of your ETH based tokens in MyEtherWallet or Offline in MIST. You can store BTC offline in a MultiBit wallet. There are also many and many paper based wallets. Those are the safest for sure.
Your post is a good wake up call for me that I need to stop leaving too many coins parked in Poloniex like they're my wallet.
I just wrote a post about this too. I'm glad I withdrew my coins a week ago. Except the Steem I had on there where withdrawals were disabled. Luckily there's a notice now saying Steem Deposits/Withdrawals will be available from 1st July.
nothing wrong atm but taking more stuff out of there tnx
Just logged in to see my SBD deposit from last week went through, move it while you can!
Poloniex is like a skidmark on the underpants of Crypto Society....
I really dont like poloniex... my cuz who investes in Rls token, he sent 50 eth thru his poloniex account by mistake so rlc token sent to his poloniex account get stuck. He asked poloniex to give him rlc token back so many times. He still hasnt got it for like 2 months.. oh well, I am outta poloniex
Just forget this shit.
Mt Gox, Mintpal, guess who is next?
When guys can't handle a primitive basic website, getting ~$1mln daily in fees only...
What else could you expect?
Btw, when their servers are crashing they don't even bother to stop their own bots, that have a priority acces to each market.
Poloniex is a SCAM.
Yeah!!! now its a frequent affair with poloniex.
Hopefully not down, this would cause a shit storm who will affect all coin. The recover will be long and painful.
Oh no, thats absolutely horrible, i was telling people yesterday to withdraw their funds as soon as possible from there, theyve been raising red flags the past 3 weeks
I have also experience the same problem, but after that i moved all of my funds to bittrex
you need to have a back up, Hope POLONIEX is up and running.
I'm so glad that I have no money sitting in Poloniex. The golden rule is as true as ever: NEVER leave money in an exchange. Don't do it. Don't do it!!
Working now but Its normal Poloniex is down nowadays because of maintenance or ddos attacks.
Its back now. Check it again .
everything working fine
I doesn't look reliably lately. I'm gonna stay with Bittrex for a while despite their almost 3$ fee.
Its true. Even I'm transacting through bittrex as of now but the only problem here is the external transaction charges we have to pay for this. It is 0.001 BTC. But I want to know whether it is the same for all transactions? I mean if I am transacting 1 BTC or 0.009432 BTC, they will charge only 0.001 BTC? Can anyone please clear my doubt?
bittrex is safer & more realiable at this point
some people i know holding 2-60mln of funds in poloniex. does not looks like they are doing no well
its happening at least once a week now . I have moved most of my crypto trades to bitrex !!
Poloniex is slow and problematic. Requires a lot of patience from the user. They earn huge money but can't improve their own code . It is a little bit ridiculous .
working now
yeah it happened with my friends too they tried and got the same error as you have shown in the screenshot,now even i have doubt to truse Poloniex hope they don't run away with money.
I AM ABLE TO LOGIN :)
gracias por informar esto!
switched to bittrex last week , everything is fine for me wooooooo
good news...if you have solution please share to me...thanks.
Poloniex works again!!
I was considering switching to Poloniex but not now. Thanks for the update. I'm glad you got most of your money out. I also wanted to tell you how much I appreciate the recent support on my posts. I can't really express how much I appreciate it. I really do. You rock.
Thanks for update ,I think we should use bitrex instead of poloniex in future