Poloniex Altcoin Exchange to Require All Account Holders to Verify | Is Bittrex Next?
Poloniex put out a press release on December 27 stating that they would require all account holders, even Legacy account holders to verify their accounts.
https://poloniex.com/press-releases/2...
They have yet to give a concrete deadline but sometime Q1 of 2018 they will put this policy in place an any account holders who have not verified their accounts will have their trading halted, deposits stopped, and margin orders closed.
Poloniex is a US Based exchange out of Delaware. Up until recently it seemed that exchanges that didn't deal with fiat, ie you can't load US Dollars onto the exchange from your bank didn't require too much in the way of verification.
More recently however it seems US Exchanges like Poloniex and Bittrex are starting to try to get their compliance in order with US laws. Poloniex with this move and Bittrex has recently hired a lot of former US Government employees and is trying to change their image from wild west to compliant.
While this hasn't affected Bittrex yet, I can pretty much gurantee it's comming in the comming months.
Right now in my experience decentralized exchanges aren't quite up to par so I think the best choice right now is Binance. Not only does Binance have lower trading fees and withdrawl fees than Bittrex and pretty much every other exchange. THey also carry more coins and will let you withdraw 2 Bitcoins per day with no verification. If you want to verify with them you can have that upped to 100 Bitcoins per day which is probably more than the vast majority of us need. One cool thing about Binance as opposed to Poloniex is even being verified on Poloniex will only give you withdrawls of $25,000 per day where as an account on Binance with 0 verification will allow you to withdraw 2 Bitcoins which at current values is about $30,000, $5,000 more than Poloniex will allow you even after being verified.
Decentralized exchanges and atomic swaps can't come soon enough but seeing as how we aren't quite there yet Binance is probably the best choice at your disposal.
One interesting thing will be if after getting their compliance stuff in order if Bittrex and Poloniex will start letting customers add USD to their accounts. I think this is comming and in the grand scheme of things I think it will be great for the crypto industry as right now Coinbase has way too much power and control and almost a monopoly on the fiat to crypto world.
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What's your thoughts? Are you a Poloniex user? Will you verify your account or withdrawl funds? Drop a comment below and let us know.
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Here's the link to the press release...
https://poloniex.com/press-releases/2017.12.27-Notice-to-legacy-account-holders/
how do you feel about bitcoin prices later this year
I had predicted Bitcoin would finish the year off between 14k and 16k, and at the time I said that was not 100% but could happen. Little did I know Bitcoin would come close to touching 20K, never expected that.
I think a lot of things are up in the air for 2018. Will Bitcoin find better scaling solutions. Will altcoins continue to take some marketshare from Bitcoin? Right now I'm not as optimistic about Bitcoin as I had been in the past, scaling is a huge issue, fees are high, transfers are slow, atlcoins are gaining in popularity and stealing marketcap. Even if Bitcoin gets lightening network the little bit of it I understand I'm not a huge fan of. Honestly I think I may prefer to just see bigger blocks, even though I'm not really a fan of bcash and I think that's kind of their solution but I think I would prefer that to lightening. I'm not super technically knowledgeable so not really sure what possible solutions are. That said I think Bitcoin could get back into the 20k to 30k range in 2018 but personally I don't expect 50k or 100k like many people say. If a Bitcoin ETF comes out in 2018 that could bring some value back to Bitcoin
I would love to see cryptocurrency legitimized, so I can use it as actual currency. Unfortunately, our government seems to be doing everything in it's power to sabotage it this year.
I just want to be able to buy shit with Dogecoins...
It’s IRS cracking down on crypto buyers. Exchanges will have to give up their info of everyone who made certain amount of they sold with profits.
I think it is a good thing! Nothing to worry about
Why do you think it's a good thing?
I'm not saying it's bad necessarily, just curious why you think ti's good? I think the only potential good thing that could come from this is Poloniex "may" start accepting USD if they get their compliance and licenses in order.
It makes more secure as you may have just one account and avoid bots And This stuffs
This is very interrsting, lets see what happens in the future.