Review on Poloniex by Ayu Anggraini
My review about Poloniex
Poloniex is a famous crypto currency exchange which was established by Tristan D'Agost since 2014 and is located at 1013 Center Rd, Wilmington, DE 19805, United States. This time I will discuss a review of this one exchange starting from the accreditation. this business is not BBB (better business bureau) accredited.
Since 2018, BBB has received 658 cases of Customer Complaints for poloniex. Some have been completed and some are still unanswered. Even though they are based in the US which allows this exchange to be highly regulated because of the strict US rules, but apparently there are a lot of complaints from customers regarding services and products, some others have problems with delivery and so on.
Poloniex has a volume of $ 51,398,997 just for today. It is a sad fact that the customer service is very bad!
Poloniex has a poor reputation since being hacked in 2014 although it was ultimately able to return the affected customer money. Poloniex also received hundreds of Complaints and left customer complaints without answering them in 2017-2019 until so many customers made various efforts to get their rights back from sending complaints to BBC's finCEN (financial Crimes enforcement network) to the department of justice and investor protection unit (IPU) in order To do investigation on Poloniex.
Many customers find their accounts blocked or locked up for months, thousand of customer were in loss and get a force liquidated from margin trading when the website had an error even though they should be in profit.
some users found their accounts have problems with withdrawing and depositing into poloniex and the ticket left with unanswered problem for months.
This made me leave poloniex until now. Overall, the Poloniex interface is very easy to understand for beginners.
its also offer Tons of various altcoin with competitive trading fees. After ignoring hundreds of complaint, Poloniex restored the customer's account by providing a level 1 account that provided trading and withdrawal facilities of up to $ 10,000 without KYC. So the customer does not need to provide his identity.
However, the flaws of level 1 is the difficulty that customers will encounter if they lose access to their account due to the lack of information the company has, thus slowing down the identification and recovery process. I am no longer a Poloniex customer because there are many cases of account problems and poor customer service also the fact that they kept on blocking my IP address from accessing their website.
Pros
- Easy to understand interface, for beginner or newbie
- Complete cryptocurrency pairs and additional features
- Allow margin trading and FIAT deposit
- Allow user level 1 to unlimited trading and withdrawal upto $10,000 without KYC details
Cons
- Poor customer service and reputation
