Crypto Noob News: Poloniex Makes Coins Vanish
As a relatively new investor in #cryptocurrency I was happy enough using #Poloniex to make buys. It wasn't until I attempted to make a larger withdrawal than normal that Poloniex turned into crypto-magicians, making my coins vanish before my eyes.
On the 21st of June I requested a relatively small withdrawal of #Litecoin. Shortly after making that request I received the standard confirmation email, and not long after that the withdrawal status changed to 'Complete'. It has now been four days and my Exodus wallet is glaringly absent of Litecoins.
I did receive a response from Poloniex on the 22nd, and this is what that looked like.
I am still hopeful that they will resolve this issue, but for now I will not be using Poloniex to make crypto purchases.
Crypto noob lesson of the day: Any exchange that cannot guarantee withdrawals is a liability, and will lose you money. Stay away (are you paying attention #Coinbase?)
Good to know. I use Bittrex and never had any problems by now.
Take part in my little survey if you like.
https://steemit.com/crypto/@ilsignore/survey-altcoin-crypto-trading-survey
Con affetto -- ilsignore
They have almost 600 million dollars of volume daily. I'm sure its going to stress every network out lol
Absolutely. But I don't want to keep my coins on the exchange, and if I can't transfer them reliably to/from my wallet then they are just too much of a liability to use. Back to collecting commemorative plates I guess....jk
Wow so sorry to hear this. I keep looking for a safe exchange to use and thought I was doing myself a favor moving my crypto from #coinbase to #poloniex. This is really starting to wonder where if anywhere it will be safe. I hope you get your ltc man.
Thanks! I did the same thing as I had originally purchased BTC and LTC on #Coinbase. At this point I've moved most of it to my #Exodus wallet. I get the feeling that there are a lot of us in the "live and learn" category.
No doubt there brother. We will be learning together.
Isn't any Exchange by definition a liability? Whenever they feel like it, they can easily stop trading for the crypto they want to tweak, have wallets under construction or however they want to call it.
Wild wild west out there. Until you have the coins payed out on your fiat bank account you're only a virtual owner...
Good point. I guess at this point it comes down to which exchange is the most reliable? If I had tons of ETH I would certainly be wary of Coinbase after last week.
Many people criticize polo..i am getting scared a little,for my money there.. :/