I haven't used the Poloniex API but I know Binance has done a good job of making their API high profile.
Comparing the 2 APIs, it seems like Binance has invested more - Binance have quite a few more commands available.
I know one of the things that swung me towards Binance was the historical data that was nice for backtesting.
Once you're happy and invested with an exchange, there is just too much friction to jump a new one - especially with the AML and KYC hoops you need to jump through.
Topic: Poloniex is leaving Circle - Discussion - page 2. (Read 302 times)
Poloniex is a good exchange way back the time I've enter into this market but since the competition has increased they feel the effect of that
I remember the days where Poloniex was consistently generating over 100k BTC in altcoin trading volume every single day, especially back when Ethereum was coming up.... it was one heck of a high profile exchange.I still have screenshots saved from when the ETH/BTC pair alone occasionally peaked over 150k BTC in daily volume on Poloniex. Times have chanced and so did the environment within exchanges have to operate.
From Poloniex the volume shifted to Bittrex, where suddenly Bittrex for a short period of time became the largest exchange based on volume, and now Bittrex is just a mediocre exchange compared to what they were before.
But now Binance domination and before they make new rules, when a lot of token can listed in Binance, Poloniex, Bittrex's user really decreased. Poloniex is a good exchange way back the time I've enter into this market but since the competition has increased they feel the effect of that
I remember the days where Poloniex was consistently generating over 100k BTC in altcoin trading volume every single day, especially back when Ethereum was coming up.... it was one heck of a high profile exchange.I still have screenshots saved from when the ETH/BTC pair alone occasionally peaked over 150k BTC in daily volume on Poloniex. Times have chanced and so did the environment within exchanges have to operate.
From Poloniex the volume shifted to Bittrex, where suddenly Bittrex for a short period of time became the largest exchange based on volume, and now Bittrex is just a mediocre exchange compared to what they were before.
Poloniex was one of the first exchanges I used to trade in back in the day, after Cryptsy and some others. It's such a shame that the U.S has made it so complicated for its citizens to trade crypto, yet the WALL ST and Derviatvies Markets remain unregulated and unhindered as ever, to go and cause another economic crisis and collapse for another generation of people around the world. I hope they can still drum up enough customers for their exchange as POLONIEX was primarily a U.S run exchange with most of its customers from there. I remember I was living in Canada at the time I signed up I think if I remember correctly. It seems such a long time ago now though.
Poloniex is a good exchange way back the time I've enter into this market but since the competition has increased they feel the effect of that, and the low volume of trades might trigger Poloniex to leave the US market though I don't think this is the only reason for them to do this. We don't know if the restrictions on US are getting tighter, some exchanges are also leaving US not just Poloniex, if you're a US citizen some exchanges are restricted to you for some reason.
Woah. I loved Poloniex before Circle. It was my favorite exchange back then.
Will Poloniex shine again? I don't know. But since the Circle business was the root of his recent problems, maybe, just maybe the split up will be good. I surely hope so.
Maybe it's possible to get back to cypto only without strict KYC restrictions? That could be a big step in the right direction.
Will Poloniex shine again? I don't know. But since the Circle business was the root of his recent problems, maybe, just maybe the split up will be good. I surely hope so.
Maybe it's possible to get back to cypto only without strict KYC restrictions? That could be a big step in the right direction.
poloniex exchange may be considered as such, but this exchange is still active and can still last up to this moment, different from some other exchanges that seem to have begun to show signs of consumer decline.
I'm not sure with this decision leaving US market, i have some reasons
1. US market is Big market. even the first crypto trader is on the US
2. Poloniex has no clear strategy to compete with giant exchanges in the world
1. US market is Big market. even the first crypto trader is on the US
2. Poloniex has no clear strategy to compete with giant exchanges in the world
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Being a somewhat trusted exchange in the US market may have been the only advantage they had over international exchanges. With this change in strategy, there’s no clear way for Poloniex to compete.
Yeah, the United States is a big market, but our government is implementing a lot of restrictions on all of these exchanges. They're simply doing it just so they can collect tax money on everyone. That's why we can't hardly use any exchanges without submitting a KYC and passing verification. Plus, I'm sure there's also fees involved to get the license to operate in the United States and they're probably not cheap. Trust me, I don't think they want to just up and leave the US market. They're pretty much being forced out from all of the regulation.
Reading the title, I was a bit worried if poloniex was closing down too. Glad it wasn't what I thought.
Poloniex has been a great exchange, on the low. If they are leaving the US market and banning US traders, I believe they have already planned everything out as regards to where they are going next. It wouldn't take much time to bounce back.
They might as well create a US only exchange just like binance did.
Poloniex has been a great exchange, on the low. If they are leaving the US market and banning US traders, I believe they have already planned everything out as regards to where they are going next. It wouldn't take much time to bounce back.
They might as well create a US only exchange just like binance did.
I'm not sure with this decision leaving US market, i have some reasons
1. US market is Big market. even the first crypto trader is on the US
2. Poloniex has no clear strategy to compete with giant exchanges in the world
1. US market is Big market. even the first crypto trader is on the US
2. Poloniex has no clear strategy to compete with giant exchanges in the world
Quote
Quote
Being a somewhat trusted exchange in the US market may have been the only advantage they had over international exchanges. With this change in strategy, there’s no clear way for Poloniex to compete.
Poloniex will be spinning out of Circle. I want to know everyone's thoughts. What do you think this means for the market? Where will you go now if you are on Poloniex?
I wrote up an article to discuss some of my thoughts here:
https://blog.shrimpy.io/blog/poloniex-spins-out-from-circle
I'd love to hear what you think!
It's not a big deal for general but of course a big move for Poloniex. From this we now can see that Poloniex is a truly big company and is serious to develop their business. I wrote up an article to discuss some of my thoughts here:
https://blog.shrimpy.io/blog/poloniex-spins-out-from-circle
I'd love to hear what you think!
Even though the real reasons may not be disclose, we can assume that Circle no longer be able to provide what Poloniex need in order to compete and grow internationally.
I don't see there will be a major effect for the market, but of course it will bring the market to be more competitive.
Got this news via email from Polo.
They find that market outside US is much greater chance, after some time they experience continued decline in trading volume.
With a large fund they are very serious preparing to compete with other large exchanges.
They find that market outside US is much greater chance, after some time they experience continued decline in trading volume.
Quote
The new international operation plans to invest more than $100M into the development and expansion of the Poloniex exchange, and plans to employ more than 100 full-time employees with the majority coming from the existing Poloniex operations. Poloniex expects to be hiring aggressively across all major business and technical functions.
https://blog.circle.com/2019/10/18/poloniex-to-spin-out-of-circle/With a large fund they are very serious preparing to compete with other large exchanges.
What I read is that Poloniex is already leaving the US market. I guess some restrictions are already applying to this old exchange that is why they are forced to say good bye to their US customers. They might have failed to earn the nods of the powerful regulators in the country. They are already releasing statements that US citizens are not anymore allowed to create accounts and trade on the site. They are only allowed to withdraw their assets. Otherwise, Poloniex is still operating actively.
Poloniex will be spinning out of Circle. I want to know everyone's thoughts. What do you think this means for the market? Where will you go now if you are on Poloniex?
I wrote up an article to discuss some of my thoughts here:
https://blog.shrimpy.io/blog/poloniex-spins-out-from-circle
I'd love to hear what you think!
I wrote up an article to discuss some of my thoughts here:
https://blog.shrimpy.io/blog/poloniex-spins-out-from-circle
I'd love to hear what you think!
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