WARNING, Do Not Use Poloniex to Sell or Trade Your Steem or SteemDollars!

in steemit •  last year

Privately I Have Been Warning Everyone to Not Use Poloniex for Steem Transactions.

Now it is time to go public and warn the Steemit community to refrain from using Poloniex at this time for all Steem and SBD sales. Users are experiencing problems sending their Steem and SBD's to Poloniex. I also recommend until Poloniex fixes the issues they are having that you cease trading there.

Bittrex is Not Having Any Issues.

We have been Bittrex users for years and have not had any issues. I recommend this exchange for Steemit transactions at this time.

The Other Option is @Blocktrades.

I have never used the platform for my Steem or SBD transactions but I have not heard of anyone having issues with them either.

Bring on the Decentralized Exchanges.

I am excited at the possibility that Decentralized exchanges are being developed and improved. Soon my days of trading on centralized exchanges will be a thing of the past.

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Say it with me now... Open Ledger.

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I have not used it yet but I am hearing good things.

Yup. I won't be transferring Steem through Poloniex again until they sort out their issues.

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yea they need to get their sh** together, if this becomes really big news it could potentially drive away investors, and thank you hilarski for all the upvotes, you are very generous, dont upvote this one you have already made me like 8$ lol

They're pissing me off... Sent 40 SBD 8 days ago, deposits are finally "active" again, and my money still hasn't been credited... They DON'T reply to support tickets, I'm starting to feel like I've been robbed, and I REALLY need that money...

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I actually received an answer immediately from the support telling me that once the exchanges are active again my deposit will be credited. So I'm still waiting.

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I get the same email when i submit a deposit issue ticket. I've learned its just a bot. Apparently, they never actually respond.

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Really? Well, that sucks.. just hoping forthe best then i guess

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same with me and some litecoin, and etc. 3 open tickets from three different transactions. 0 replies in about a month.

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Exactly, you are one more person that is experiencing these problems.

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I also hold some BTS on Poloniex, and now they disabled trade with those. FML . Hope this is just temporary and I can get ahold of mw sweet sweet Bitshares soon.

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I sent 100 steem 8 days ago hilarski and i sent 3 tickets without any anwers from polo. awful man what can i do in that case?

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Is a class action a viable option if they never credit people?

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I don't know I don't live in a country that does that.

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I live in America, where if you mess with our money, we will sue you faster than you can say "my bad"

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Polo is a US company and really should sort their shit out. Behaviour like this from a US entity could be the end of crypto trading there. Look what the US regulators have done to the forex industry - utterly destroyed it. Selecting a forex broker in the US is now like voting in the presidential election: you get to choose between 'a giant douche and a turd sandwich'.

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haha i like the south park reference

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IMO it had been getting a little stale, but those last two seasons were off the hook

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So true, man. Our country most certainly does not manage our money well despite our obsession with it...

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Yep, the best forex brokers in the UK and Australia are 4-6x cheaper than the two big retail brokers in the US. Excessive regulation has created an oligarchy where existing US firms do not have to bother competing with their international counterparts.

I agree, I have been using blocktrades to exchange steem and sbd to eth and btc for 2 weeks, love it!

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Agree also. I've used Blocktrades a few times over the past couple of days and all good to convert SBD to steem power. Very fast. Recommend.

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Go to Bittrex, much better rates

1BTC = 1447 SBD on blocktrades

1BTC= 1556 SBD on Bittrex at time of this post

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Yeah I just got into Blocktrades yesterday and it´s sweet. Fast and smooth transactions, with no issues nor lag (Polo´s speciality)

Good luck on your trades!

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does blocktrades have SBD?

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Yes they do. You can send them SBD and receive Steem Power. Or some other cryptocurrencies (BTS, ETC, LTC, BTS, DASH)

Enjoy!

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so can you explain to me why you get steem power and SBD for blogging?

I just started using bittrex and it works great! Glad I found out about this early and didn't learn the hard way.

Good to know. Thanks , I'll be careful.

glad to know...i just signed up in bittrex

Dammit, I just had this exact same problem! I feel so stupid after the trouble they've been having for the last couple weeks.

53738-781fef3c6f90d091d09a61b94befd87f.jpg

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thanks for letting us know, i have 2 currencies in poloniex so i think i might transfer them to another exchange

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lets upvote the crap out of hilarski's post so we can fund the money for a SBD lawsuit! lol

Because this is all new to me I am certainly taking your advice on this!!

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If you need help Miriam I am happy to hop on Skype with you.

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Thanks I really appreciate the offer!

Many thanks dear friend @hilarski for this valuable information, always at the forefront, sharing with us your experience.
You have a good night

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No problem!

Thanks for the tip Randy :)

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You are welcome Queen @TatianaMoroz!

Thank you for this information. I see the temporary disabled hold was released for Steem on Poloniex. I am planning on withdrawing my Steem on that platform and depositing it in my Steemit wallet. Good to know that the Bittrex exchange is stable and reliable.

Resteeming to get the word out

This is a real serious issue...... thanks for telling me ill resteem to

Appreciate the head's up. The first exchange I ever used after getting Bitcoins from Coinbase was Poloniex. Once I discovered Bittrex and then Coinigy, I have never looked back. When they initially limited withdrawals to $2000 USD while other exchanges didn't, I was done. They also have a very limited amount of coins and a dated interface. They need to put in some work!
This guy is dealing with POLONIEX at the moment:
3002ac5c23e4ba38b47b649b201fc86a.jpg

I have moved most of my funds off polo...Can't give up that sweet BTC lending though

Centralized exchanges always have issues, I think now it the time for people to realize the need and power of Decentralized Exchanges

blocktrades was cool

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Why was cool? They still exist or not? :)

Polo is crooks, don't use them ever again. I guess they'll run away with all funds soon.

Anybody else catch it a couple nights ago where sbd was up to 2.50$ on polo before they froze all transactions?

Polo's been having issues lately, I know a dude named Davinci I follow has been warning about using that platform for a few months now, I'll stick with bittrex personally.

Consistently transparent and functional #cryptocurrency exchanges are few and far between, it seems. The market will improve with time, I'm sure. I will say that it's been a seamless experience using @blocktrades - quick execution with buying #steem.

I've used the market feature, but haven't done the math, seems a shade low .

I think more people should know about not using Poloniex. Great advice and I would have up voted your post but my voting power is way too low and recovering. I will resteem your post instead :)

Thanks for the heads of mate! No time to have my coins tied up. I used to use them for short term bit coin lending a while back but then moved all my coins to btcpop

Thanks for the heads up. I have accounts in all three.

Definitely time for a strong, decentralized, trading platform. Can't arrive soon enough.

Thanks for the warning you really do me a favor. Thanks for sharign.

Yeah, I switched to bittrex. Too bad, because I like poloniex's site better than bittrex

good post...if solutions.

I primarily use Poloniex and have used blocktrades ones. I keep hearing about horrible rates and honestly I am tired of losing a lot of my crypto on daily transfers. (especially when I generally move small amounts of bitcoin)

What does bittrex charge to transfer on-off site?

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No idea, I have never paid attention.

yes, everybody is complaining about making transactions through poloniex. either the transaction is very slow or you just lost your steem dollars. thanks for an informative post.

I just opened a support ticket in Poloniex and I got this automatic reply:


Information About Deposit Delay

Dear Jose ,

I am very sorry to inform you that we are currently experiencing a momentary problem with the wallet and had to disable it for maintenance.

As soon as the wallet is re enabled your deposit will credit.

Thank you for your patience and I am sorry for the inconvenience, don’t hesitate to reply to this message if you have any question.

Sincerely,
Poloniex Support Team


It could maybe take a while but let's hope they will fix this issue and everyone will get their funds back.

Meanwhile let's keep steeming 😁

Very useful information! I use Poloniex and I see this problems. Upvote and resteem

Bittrex is sounding good. Doesn't Steem have an "internal" exchange?

FYI: I had Steem stuck on Polo for 2 weeks before they "unfroze it". I bet they were trading with my money the entire time.

You have been warned.

I have been using Bittrex for all my Steem related activity - raising Steem by selling anything from ETH to ETC to ZEC to BTC. Works just fine and transfers across to Steemit have been flawless

BlockTrades is the way to go!!! I have never had an issue and service is lightning speed!!! Thanks for the post, i'll keep far away from them as soon as they give me my ETH.

Thanks for the info. Be careful out there! Losing an opportunity to do what you want with your investment when you want is against what this whole Idea is about. I had steem stuck there for longer than I was comfortable. The exchanges that do not function will fall and ones that do will rise.

Thank you very much for this very important public service announcement @hilarski. Every Steemian should avoid Poloniex like the plague! At first, I was turned off by all of the DDOS attacks. Then, when they started blocking withdrawals and deposits of certain coins, I knew right away that they were running a scam operation and quickly withdrew ALL of my cryptos from Poloniex.

I have been using Bittrex exclusively without any problems thus far. Sometimes, I feel that scam exchanges like Poloniex artificially influence the market by blocking transactions for certain coins and sometimes across a majority of coins, just to send investors into a panic and start selling everything!

I can't wait for decentralized exchanges as well! Thanks for posting this Randy!

Thanks for the tip, I'm fed up with Poloniex myself. I had just recently sent them quite a large sum of SBD and its not showing up! Looks like I will switch over to Bittrex from now on!

Yeah ive got some sbd sruck from the first time polo disabled steem sbd.
After thst I saw that it had popped back up.. This time I tried sending 0.5 sbd just to check and it was srill broken.
P. S first sbd never came through too.
Support didn't answer at all for 2 weeks now.
Cheers for the info

Yup, two transfers from Steem Wallet and one from the DEX; all lost..

My wife gonna have to wear them same old shoes for another year :(

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Put in that support ticket. Problem is that it might take a few months to hear from them.

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Yeah, I did but she'll be walked the sole off of em by then...

Resteemed this, usually when they are shamed they at least look at it. And I too have had no issues with Bittrex but I do look at the "last block" info from the SBD wallet before doing a transfer.

There were some delays yesterday there as well..

Steem on my friend, Hi to Ana !!!!

That sucks. I'm having issue using Poloniex. I'm currently using to trade steemit transactions. Thanks for the info hilarski!

bittrex and blocktrades for the win!... I usually use bittrex so i can wait for the best price to sell... Last week i used blocktrades as it was offering better prices... Best way to go is check on price on both sites and give it a go... Also i think blocktrades was a bit faster than bittrex

Oh boy

I use @blocktrades all the time and they work great. Especially steem to litecoin is almost instant. Highly recommended.

Hilarski, I've been using openledger for over a year. It is The De-centralized exchange! I hold currencies on there, I trade them, use it as a payment system...it's lightning fast and never had a problem. I highly recommend it. You don't have to wait man, the future is here!

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Are the prices the same in standard exchanges?

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The prices/exchange rates are very comparable to exchanges like Polo, Bitrex, etc...the only time I notice a difference is in low volume markets (where there are very few people actively engaged in trading) but I expect that to change as openledger gains popularity. Now, if you mean are the trading fees the same, my feeling is that they are less than most. I haven't actually compared hard numbers, but the fees on openledger sure feel insignificant.

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Thank you for the tip. I will have to check it out.

We're not quite there yet, but we have big plans to become the best decentralized exchange. These issues with the other exchanges give us even more motivation to work hard to build our code to get there.

Apparently everyone agrees Poloniex is not the way to go, so I will, when needed use Bittrex.

Great info! It's always better to be cautious than not. I've heard from some that Poloniex is working again but I would advise to stay on Bittrex or Blocktrades for at least another week until it's a for sure thing.

Hi @hilarski... Thanks a lot for your warning! Shame that your post came today 😖 My girlfriend sent Steem Dollars to Poloniex yesterday and they haven't arrived yet. I hope Poloniex will fix this problem soon and she won't lose them. She was excited because it was her first withdrawal 😔 I just resteemed this important info!

Great information, thanks for posting. I have a Poloniex account and my plan was to only use it for all steem and sbd transactions. After this post I'll ensure not to and will create an account at another exchange as well so that I can use that instead of Poloniex until they sort out their issues.

I love the idea of decentralized exchanges too. These centralized exchanges have had so many issues ever since the first days of cryptos. It'll be way better if/when decentralization comes to the crypto exchange world and it can not come soon enough!

Just had a friend telling me an hour ago how bad Polonex is and sending comments from somewhere else of people complaining.. I guess i'm never going to even try it.. Thanks for the warning! :)

I'm happy I transferred all of my funds to bittrex before poloniex started having issues, but I just hope people are not loosing their money with this exchange

Blocktrades.us is awesome. I use it whenever I'm ready to withdraw anything to my fiat account from Steemit, for sure. And until the new people who are less familiar with crypto become more interested and familiar with it, Blocktrades is my top recommendation for them to cash out.

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Thank you @WinstonWolfe I know that BLocktrades is popular here on Steemit that is why I mentioned it.

Right now the only thing I have on poloniex is a couple hundred dollars worth of XRP. I did sign up for Bittrex the other day though. Do you think transferring your SBD on post payouts to bittrex and then converting it to steem and then taking that steem and putting it back here gets you a much better payout than just using the internal Market? I ask because it seems like real pain in the ass compared to just using the internal market....... but I would be willing to do it if it saves me some significant money.

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This is a really good question/answer post. Didn't know about ti and if its true super glad to realize. Thanks

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Absolutely that is what I recommend everyone do.

I've made 2 deposits to poloniex of SBD in the last week, neither have shown up. Bittrex working fine.

Thanks for the warning. I will switch to Bittrex immediately!

What should I do with the STEEM I have in Poloniex already if I shouldn't trade it? Just hold it in there?

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@JoshSigurdson if you can sell them for another crypto and then exchange for something that can be moved I would do that. Do not try to move Steem or SBD's at this time.

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Thanks for the advice! I'll do just that.

This should be a permanent statement. Nothing but issues at polo. Using Bittrex 8 months, no issues.

Thanks for the advice Randy @hilarski :)

I got out of Polo just n time yes sir I am done with Polo great post.

I've been using Bittrex and have had no issues, although I've run across a couple of comments that suggested SBD had been (at least) temporarily halted on Bittrex. I actually got kicked off Poloniex because I live in Washington state and evidently there were some legislative issues... to do with the state's (legal) marijuana industry... evidently, growers are using cryptos to bypass state tariffs, so the state is slamming the exchanges with legal shyte...

I never trust the exchanges, get your funds in and out of those as fast as possible!

Yeah, I deposited SBD to my poloniex account a week or so ago, and they temporarily disabled deposits right after I did that. My SBD was not showing up in Steemit or my poloniex account, and was unavailable to me for like 4-5 days... They eventually returned my deposit back to Steemit.

Oh Poloniex pisses people off again? It's because too many people trying to make a transaction or?
Hmmmm.
Damn. You'll be fine, be patient bros.

Thanks for the warning.
Blessings to you!!!

I had 2BTC stuck in there for over a month. No response from support staff. Mods in the trollbox telling me to shutup so as not to cause a panic.

Eventually they released my coins and told me it was delayed because I didn't have 2fa.

They also closed my account after this. Saved me the trouble. No issues with Bittrex so far.

As of today, I'm free of Poloniex's crap. Moved all my holdings to Bittrex.

Yes. Bittrex works better. I wonder why more people are trading on Polo. Hahaha

I would never use poloniex for anything.

Excenlente post friends, I hope you continue like this, I hope to help me with a vote in my post

Congratulations @hilarski!
Your post was mentioned in my hit parade in the following category:

  • Comments - Ranked 9 with 164 comments

I sent some SBD today and they still have not arrived. That was three hours ago. I have been using Bittrex during the time Poloniex was not accepting STEEM and SBD and had no problem.

I do not think I will be using Poloniex in the future.

I hear you can't use Bittrex either now?

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I used Bittrex 3 times today to make transfers.

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Good to know!

I thought they'd fixed their problems by now. I just sent some to polo, hopefully everything will be ok.

The worst of it is that I just deposited mine 30 SBD right now in my poloniex account. I lost that deposit? Oh - my- God 😥

jsantana polo.jpg

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I don't know if it is lost but it might be a while until you see it again.

I had just signed up for Poloniex after I began with Steemit. Thankfully, I dodged a huge bullet since I had yet to possible transfer whatever I wanted to that account.

It's Bittrex for me from here on. That said, up'd and resteemed!

I appreciate the heads up. Less pits the better!
Thanks dude.

Thanks for the tip!

I used blocktrades for the first time the other day, and had no issues. I even screwed up with a transaction, was able to talk to support on the phone in seconds, and the transaction was refunded due to a poor memo transcription.

Highly recommend Blocktrades if you intend to sell your SBD for Bitcoin.

I was able to withdraw some Steem from Poloniex today with some BTC I had in my account so I guess it is the depositing there is issues with! I have heard great things about Blocktrades, but have only used Bittrex and Poloniex. I hope they get things sorted out ASAP!

Thanks for the info! I am not planning on taking anything out anytime soon but it def is good to know! 👍

And now what do you plan to do? I need your advice? Besides not being able to use poloniex in what other way affects us, it affects the value of sbd and steem? Is that why the price is very low? @hilarski

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I don't have a problem so nothing changes for me. I never used Poloniex.

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Very good post👍📚 please up vote me thanks❤

Poloniex has lost all credibility! God forbid but they might just go Mt Gox route

Thanks for your posts. Indeed Poloniex is plagued with so many problems most of which is due to their own incompetence. Especially when he heard that the were trading with people's funds on bittrex on their backend. it is great people are exposing the massive fraud happening with the exchange. It is also a USA based exchange so will stay the hell hell away from it. We need more decentralized exchanges.( Exodus.io luckily provides a painless solution with the Exodus wallet) I highly recommend people to check it out.

Thanks for the heads up I've heard many sketchy things regarding Polo since getting into the Crypto space. Are there any decentralized exchanges you recommend?

I just tried bittrex, I think your suggestion is good enough, thanks😊

i didn't see your post i sent SBD today but nothing appear in my account thanks for sharing !

Thank you for the heads up! Definitely useful advice for a newbie like me

Cool.. Cheers.. Sounds like block trades is good..
I want to transfer from mycelium wallet to steem.. Anyone done that before here..

I used Blocktrade last week and was surprised to see how fast it was to sell LTC for Steem.

Get off of poloniex and stay away.

I have had both over 200$ worth of steem and sbd go missing before this mess, and they simply don't answer support tickets. So, preach on. I don't think I can ever trust poloniex again.

Thanks for the advice.