Honestly I'm not recommending anything for trading yet, I don't do much of that myself, but I can tell you from the little experience I have with Poloniex that they are bad news.
I guess they have those to avoid having to report anything, for taxes, you see a lot of crypto debit cards with a similar system so they don't have to do as much documentation. I don't like this either, specially because if the government wants to mess with you they will find a way.
I'm experimenting with different things like sending money orders and using giftcards when I wish to purchase something. I'll probably try changelly next because I hear good things about their conversion. I use several wallets, from paper wallets to online wallets like Jaxx. But honestly I don't recommend any third parties, the more control over your funds you have the better.
The problem with poloniex is that you don't really have control over their wallets and just recently I realized how much of a problem that is. We don't have a problem until something bad happens to us. I'll be researching for other alternatives, hopefully I can find a decentralized exchange soon.
Which exchange site do you recommend?
Honestly I'm not recommending anything for trading yet, I don't do much of that myself, but I can tell you from the little experience I have with Poloniex that they are bad news.
One thing that kept me away from them was their daily limits. I did not like that idea. But, other than that I don't know much.
I guess they have those to avoid having to report anything, for taxes, you see a lot of crypto debit cards with a similar system so they don't have to do as much documentation. I don't like this either, specially because if the government wants to mess with you they will find a way.
Ok I see. I did not know that. Thank you for sharing this information.
If you don't mind me asking, where do you keep your wallet and what exchanges do you use then?
I'm experimenting with different things like sending money orders and using giftcards when I wish to purchase something. I'll probably try changelly next because I hear good things about their conversion. I use several wallets, from paper wallets to online wallets like Jaxx. But honestly I don't recommend any third parties, the more control over your funds you have the better.
The problem with poloniex is that you don't really have control over their wallets and just recently I realized how much of a problem that is. We don't have a problem until something bad happens to us. I'll be researching for other alternatives, hopefully I can find a decentralized exchange soon.