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August 16, 2018

Deposit & Withdraw on Poloniex?

How to deposit & withdraw at Poloniex?

Depositing and withdrawing at Poloniex has been running smoothly most of the times starting from day one of its operations. However, last year users might have noted that Poloniex was having difficulty in withdrawing and depositing altcoins. Specifically, with depositing using BTC's and withdrawing same.

Let’s run through some basic steps to get you going at Poloniex. Starting an account is pretty easy, all you need to do is enter your email and the password gets generated. Then you want to start depositing crypto into your account. Generate address/ code using the ‘Deposit’ option. You can deposit coins into your account using the desktop or the mobile site. Open your desktop or mobile wallet to enter the deposit address. You can use the QR scanner from your device (where you have your wallet) OR copy and paste the address. It takes several minutes for a transaction to be complete as several confirmations are required. Depending on network congestion, it can take 30 minutes or up to an hour. You may look at 'Deposit History' to view the progress of a transaction. Account balance gets updated once the deposit is complete.

Still, there are some important notes to be taken into account as well:

  • Mind Individual currency requirements.
    Some currencies have additional memos, fields, payload and minimum deposit requirements. Please pay attention to these rules and exceptions before making deposits.

  • Poloniex is Crypto-Crypto only.
    Poloniex is a crypto only exchange, it doesn’t not accept deposits in fiat currencies such as US Dollars, Euro, and Yen. Please note that USDT (Tether) is a crypto asset and not US Dollars, do not attempt to deposit USD to your USDT deposit address.

  • Double check the type of coin and wallet address you are transferring to and from.
    The most common deposit error is one where a user deposits coins to the deposit address of the wrong coin type. Please make sure you deposit to the deposit address of the correct coin type. Please make sure you understand these guidelines as failure to do so could result in your deposit being lost and non-recoverable.

Now let’s turn to withdrawals on Poloniex.

The first thing you want to do is withdraw coins from your account via the desktop or the mobile site using the ‘Withdraw’ option. An important note here is to mind Individual currency requirements: Some currencies have additional memos, fields, payload and minimum deposit requirements. Before making a transfer, please pay attention to these rules and exceptions. Then go ahead and open your desktop or mobile wallet to generate the deposit address. Copy and paste the correct address. Enter the amount of coins you want to withdraw. It takes several minutes for a transaction to be complete as several confirmations are required. Depending on network congestion, it usually does not take more than 4 hours to complete. Finally, a user confirmation is needed to complete the step. Customers with two-factor authentication enabled for their withdrawals do not receive email confirmations. You may also look at 'Withdrawal History' to view transaction details.

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