Poloniex withdraw limit real? | Bitcointalksearch.org

doomloop

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Quote from: posi on October 14, 2022, 07:35:28 AM

Quote from: Findingnemo on October 14, 2022, 06:13:07 AM

As per their official website registered user with level 1 tier can withdraw upto 10K USD per day but I am not using it anymore for years especially since the hack in 2020.

I just want to give you the warning about their reputation in the recent times is not good so better choose other trading exchanges like Kucoin which still has no KYC trading feature if I am not wrong.

If I remember correctly, this poloniex exchange is owned by Tron co-founder Justin Sun. Recently, this guy is also said to have just acquired the houbi exchange, which is also a leading exchange in the world. I also stopped using it quite a while ago. but I didn't hear about the hack that year because I switched to binance and houbi probably from 2019 to now.

Kucoin is a centralized exchange but it allows trading and withdrawing when you don't want KYC, but you can only withdraw up to 1BTC within 24 hours with a non-KYC account.

Since when sun owned polo? If it was recently then maybe the limit is now $50k per day, not $10k anymore. It might be a form of promotion to attract more users again to use the site since it's said that there's a hack which takes place long time ago and that would have scared many people from using the exchange. It's amazing if sun also acquires houbi. This simply shows that he is rich but I don't think he can buy kuckoin and binance since they are more popular than the two so their selling value must also be huge.

@OP I check the screenies and there's no typo in there. The level two limit also shows $500k but you can try confirming things in their customer support.

Findingnemo

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Quote from: Mbidox on October 16, 2022, 03:54:12 PM

Does this mean, you have sold with a marked order?

It happened a long way back so I don't remember exactly how much the order value or how much it was but I am sure its about few hundred dollars. Just for the example I have 100 coins which I deposited there to sell it after good market hike but what I witnessed is about they have only trade orders for about 20 coins with market value so I am being forced to sell for half of the market price like 60% only.

And it was really a good coin with very good trading volume on all the exchanges still that trade went in that way, maybe things have changed now or worsen but I sm not ready to take any more risk with them so moved to better exchanges.

Mbidox

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Does this mean, you have sold with a market order?

Findingnemo

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Quote from: royalfestus on October 16, 2022, 12:08:02 PM

Quote from: Findingnemo on October 14, 2022, 06:13:07 AM

As per their official website registered user with level 1 tier can withdraw upto 10K USD per day but I am not using it anymore for years especially since the hack in 2020.

I just want to give you the warning about their reputation in the recent times is not good so better choose other trading exchanges like Kucoin which still has no KYC trading feature if I am not wrong.

Did you lose your money with the hack?

No I didn't lose any money due to the hack but lost the value of my crypto assets due to their fake trade orders which forced me to sell for low price than actual market price at that time but again it happened long time ago and it is one of the reason why I stopped using Poloniex.

royalfestus

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Quote from: Findingnemo on October 14, 2022, 06:13:07 AM

As per their official website registered user with level 1 tier can withdraw upto 10K USD per day but I am not using it anymore for years especially since the hack in 2020.

I just want to give you the warning about their reputation in the recent times is not good so better choose other trading exchanges like Kucoin which still has no KYC trading feature if I am not wrong.

Did you lose your money with the hack?

Findingnemo

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Quote from: PX-Z on October 15, 2022, 07:58:21 PM

Quote from: Findingnemo on October 14, 2022, 11:15:35 AM

Thanks for the link, but while I am searching now even on bitcointalk there are many members said Kucoin ask for KYC compliance even if their limit is below the level what they mentioned for non verified customers and also some account under froze until they complete KYC so with any centralized exchange regarding KYC or no KYCed account the user should be asked to verify their Identity at anytime which is also mentioned in their ToS so yes there is no guarantee that someone can withdraw as non verified user forever.

Requiring KYC is possible under certain conditions since it is really a centralized exchange like suspicious activity detected. I'm a regular user of kucoin and fortunately, i never experienced requiring KYC yet.

While other exchanges have accounts limit, 50k limit for level 1 is really huge. But nah, i found lots of complains about polo, shattered reputation in those years that i decided to ignore them and only use kucoin even though it has lower withdrawal limits.

Even myself had very bad trade experience and due to that I almost lost half of my capital value which mainly happened due to their fake trading volume so I simply decided to sell for whatever the price and stop using the Poloniex anymore and that is the end of the story so instead of trusting their no KYC better choose the right exchange with lower KYC requirements like only name and address for level 1 in case if we are only a moderate trader and don't want to submit more personal information.

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Quote from: Findingnemo on October 14, 2022, 11:15:35 AM

Thanks for the link, but while I am searching now even on bitcointalk there are many members said Kucoin ask for KYC compliance even if their limit is below the level what they mentioned for non verified customers and also some account under froze until they complete KYC so with any centralized exchange regarding KYC or no KYCed account the user should be asked to verify their Identity at anytime which is also mentioned in their ToS so yes there is no guarantee that someone can withdraw as non verified user forever.

Requiring KYC is possible under certain conditions since it is really a centralized exchange like suspicious activity detected. I'm a regular user of kucoin and fortunately, i never experienced requiring KYC yet.

While other exchanges have accounts limit, 50k limit for level 1 is really huge. But nah, i found lots of complains about polo, shattered reputation in those years that i decided to ignore them and only use kucoin even though it has lower withdrawal limits.

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Quote from: dkbit98 on October 15, 2022, 02:09:37 PM

Quote from: Mbidox on October 14, 2022, 05:53:27 AM

Any experience with poloniex?

It is sead, that we can withdraw coins until 50000$ per day without KCY with tier1.
This is unbelievable.

It's not so unbelievable and yes it's real.
I know several exchanges that have much bigger daily withdrawal limits, so compared with them Poloniex is nothing.

$50k is a pretty big withdrawal limit it's around 2btc even if it is real it's too risky to trade on Poloniex due to their bad reputation since 2015 like frozen accounts or can't able to withdraw or stole their funds by Poloniex. There are many users there being scammed and lost funds and I can't find someone who solved their case.

Like this one https://bitcointalksearch.org/topic/threatening-exit-scam-on-poloniex-or-just-worst-service-warning-5196029
I'm also a user of Poloniex before I never had any issues I just stop using them after they implement KYC.

@OP if I were you if you are going to use the Poloniex exchange I suggest don't deposit a big amount to lessen the risk you can spread the coins to other exchanges with no KYC like Coinex and Kucoin or go directly to the P2P exchanges as suggested above.

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Quote from: Mbidox on October 14, 2022, 05:53:27 AM

Any experience with poloniex?

It is sead, that we can withdraw coins until 50000$ per day without KCY with tier1.
This is unbelievable.

It's not so unbelievable and yes it's real.
I know several exchanges that have much bigger daily withdrawal limits, so compared with them Poloniex is nothing.

Quote from: Mbidox on October 14, 2022, 05:53:27 AM

Or does this mean 50$ (50.000) ?

It's $50K, not 50 dollars... that is how much money you can withdraw every day.

Quote from: Mbidox on October 14, 2022, 05:53:27 AM

I am just worried, that when I want to withdraw 2000$, then it is said, "Sorry, we need KCY".

That is always a risk with any centralized exchanges, especially if they think you sent them coins from addresses that someone reported, or it has some connection with hacks.
Normal users should be fine with smaller amounts, but I would still recommend switching to decentralized exchanges like Bisq or other p2p trading.

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Quote from: Findingnemo on October 14, 2022, 09:06:00 AM

Quote from: posi on October 14, 2022, 07:35:28 AM

....

Kucoin is a centralized exchange but it allows trading and withdrawing when you don't want KYC, but you can only withdraw up to 1BTC within 24 hours with a non-KYC account.

If they actually allow 1BTC for 24 hour time frame for non verified account then it is great but I don't think so the value should be much lower now and I can't able to find the information regarding non KYC withdrawal limit in the official website and with other article seems to be older.

While comparing to Binance they only allow 0.06BTC withdrawal limit for non verified uses and in most cases they will be asking to verify mandatorily when someone do this consistently.

I also don't use Kucoin very often but I can say this is a centralized exchange that allows withdrawing a large amount of money without KYC. Compared to the current bitcoin price, it may not be a very high amount but when bitcoin hit ATH last year, it was actually a very high draw for a centralized exchange with no KYC. Exchange policies often change if you are infrequent, I think it is better to contact exchange support before making any trades.
https://www.kucoin.com/news/announcement-regarding-the-adjustment-of-daily-withdrawal-limit

noorman0

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Quote from: Mbidox on October 15, 2022, 07:05:15 AM

Thank you.

Strange. If this is compatible with USA law, I wonder, why other USA exchanges do not allow the same limits.
(I guess it is a competitive advantage if an exchange allows higher limits.)

Edit:
Ah I suppose, this is because Poloniex does not allow to trade real USD.
But: I guess there are other USA exchanges, that do not allow to trade real USD, but have nevertheless a smaller limit. So the question of interest remains.

I think this is a generalization of the fiat and crypto withdrawal limits on the amount each exchange can handle (in terms of risk), the US exchanges definitely offer fiat withdrawals as well to some US local banks which may require other reconciliations.

Mbidox

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Thank you.

Strange. If this is compatible with USA law, I wonder, why other USA exchanges do not allow the same limits.
(I guess it is a competitive advantage if an exchange allows higher limits.)

Edit:
Ah I suppose, this is because Poloniex does not allow to trade real USD.
But: I guess there are other USA exchanges, that do not allow to trade real USD, but have nevertheless a smaller limit. So the question of interest remains.

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Quote from: Mbidox on October 15, 2022, 06:39:57 AM

No, after all what has been posted here, I found it too risky. Many critical voices and warnings. And only one positive voice for keeping the KYC promise, however for another exchange.

Just wondering: Is crypto withdraw without KYC in the value of 50'000 $ really compliant with the USA law?

As far as the regulations go, yes. That amount is already subject to the Anti-Money laundering act in any country I believed.

Hard to trust what's written on Poloniex withdrawal limits especially "without KYC".

But what's your goal or purpose OP? Want to find a trading platform where you can freely at least withdraw $2,000 without KYC? I think such regulated exchanges are not existing anymore based on my own knowledge. Try Kucoin though, I can freely withdraw there without KYC but not on that example amount mentioned.

Mbidox

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Quote from: Hamphser on October 14, 2022, 04:46:58 PM

Have you done it @OP?

No, after all what has been posted here, I found it too risky. Many critical voices and warnings. And only one positive voice for keeping the KYC promise, however for another exchange.

Just wondering: Is crypto withdraw without KYC in the value of 50'000 $ really compliant with the USA law?

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Quote from: Findingnemo on October 14, 2022, 06:13:07 AM

As per their official website registered user with level 1 tier can withdraw upto 10K USD per day but I am not using it anymore for years especially since the hack in 2020.

I just want to give you the warning about their reputation in the recent times is not good so better choose other trading exchanges like Kucoin which still has no KYC trading feature if I am not wrong.

Even myself did really flock away on this exchange after that hack and now here we go again on using the current top exchange which is really still been hacked twice. Cheesy

Platforms cant really be fully or 100% trusted no matter what.

Based up on the link
Increasing Withdrawal Limits

Level 1 accounts can withdraw up to $10,000 USD per day by default. If you have a Level 1 account and enable 2FA, your withdrawal limits will automatically increase to $50,000 per day.

Enabling 2fa would make it 50k, Have you done it @OP?

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Quote from: Oshosondy on October 14, 2022, 08:20:49 AM

I have not used Kucoin before, but there are sometimes the exchange request for KYC while you want to withdraw any amount, be it small amount or large amount.

I have been using kucoin for a long time without kyc and never experience what you have described above. I have withdraw more than 10k in kucoin last year without any requirement on their part for kyc, so am a bit confused how you come to know this perhaps it is someone who experience it that told you because according to you... you have not use them before. But as far as I have been using kucoin, and still using them I have not experience such.

Mbidox

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Very informative thank you all very much.

Findingnemo

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Quote from: hosseinimr93 on October 14, 2022, 10:16:45 AM

Quote from: Findingnemo on October 14, 2022, 09:06:00 AM

If they actually allow 1BTC for 24 hour time frame for non verified account then it is great but I don't think so the value should be much lower now and I can't able to find the information regarding non KYC withdrawal limit in the official website and with other article seems to be older.

Kucoin do allow unverified users to withdraw up to 1 BTC per day. Below is the last announcement they have made regarding withdrawal limit for unverified accounts.
Announcement Regarding the Adjustment of Daily Withdrawal Limit

Quote

Daily withdrawal limit has been adjusted to 1 BTC for accounts which do not complete identity verification(KYC).

Thanks for the link, but while I am searching now even on bitcointalk there are many members said Kucoin ask for KYC compliance even if their limit is below the level what they mentioned for non verified customers and also some account under froze until they complete KYC so with any centralized exchange regarding KYC or no KYCed account the user should be asked to verify their Identity at anytime which is also mentioned in their ToS so yes there is no guarantee that someone can withdraw as non verified user forever.

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Quote from: Findingnemo on October 14, 2022, 09:06:00 AM

If they actually allow 1BTC for 24 hour time frame for non verified account then it is great but I don't think so the value should be much lower now and I can't able to find the information regarding non KYC withdrawal limit in the official website and with other article seems to be older.

Kucoin do allow unverified users to withdraw up to 1 BTC per day. Below is the last announcement they have made regarding withdrawal limit for unverified accounts.
Announcement Regarding the Adjustment of Daily Withdrawal Limit

Quote

Daily withdrawal limit has been adjusted to 1 BTC for accounts which do not complete identity verification(KYC).

Findingnemo

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Quote from: posi on October 14, 2022, 07:35:28 AM

....

Kucoin is a centralized exchange but it allows trading and withdrawing when you don't want KYC, but you can only withdraw up to 1BTC within 24 hours with a non-KYC account.

If they actually allow 1BTC for 24 hour time frame for non verified account then it is great but I don't think so the value should be much lower now and I can't able to find the information regarding non KYC withdrawal limit in the official website and with other article seems to be older.

While comparing to Binance they only allow 0.06BTC withdrawal limit for non verified uses and in most cases they will be asking to verify mandatorily when someone do this consistently.

Oshosondy

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Quote from: NeuroticFish on October 14, 2022, 06:04:09 AM

I didn't use Polo for many years, so I cannot really tell from experience, but $2k is a rather small amount and they should not cause troubles, especially as their help page tells:

If anything is centralized, they are centralized. Anything centralized and that has control on your money can ask for KYC at anytime, even if you want to withdraw the lowest amount that is withdrawable on the exchange. Everyone using the exchanges should prepare for KYC because the exchanges can ask at anytime in a way you will not be able to withdraw your coins.

Quote from: posi on October 14, 2022, 07:35:28 AM

Kucoin is a centralized exchange but it allows trading and withdrawing when you don't want KYC, but you can only withdraw up to 1BTC within 24 hours with a non-KYC account.

I have not used Kucoin before, but there are sometimes the exchange request for KYC while you want to withdraw any amount, be it small amount or large amount. I registered on OKX some months ago after Binance make KYC mandatory, later OKX asked me for phone number verification. I verified my phone number before I was able to withdraw.

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I have many experience cases with those NON KYC exchange and can say these platforms will try to collect your data, and if they know that you will fail to verify identity, then your account will be closed for the least reason.
Therefore, always keep in mind that the barrier to not verifying identity is withdrawals of up to $2000 or any amount that you fear losing.

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Quote from: Findingnemo on October 14, 2022, 06:13:07 AM

As per their official website registered user with level 1 tier can withdraw upto 10K USD per day but I am not using it anymore for years especially since the hack in 2020.

I just want to give you the warning about their reputation in the recent times is not good so better choose other trading exchanges like Kucoin which still has no KYC trading feature if I am not wrong.

If I remember correctly, this poloniex exchange is owned by Tron co-founder Justin Sun. Recently, this guy is also said to have just acquired the houbi exchange, which is also a leading exchange in the world. I also stopped using it quite a while ago. but I didn't hear about the hack that year because I switched to binance and houbi probably from 2019 to now.

Kucoin is a centralized exchange but it allows trading and withdrawing when you don't want KYC, but you can only withdraw up to 1BTC within 24 hours with a non-KYC account.

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And to add, their customer support is also not good.
I had a problem before with my account and my deposit and they didn't answer me for 5-7 days IIRC.
If I were you I'd just look for another exchange with a better reputation than them. You don't know what could happen, it could be the same as others or the same as what happened to me and no one will answer you in a faster way while you are stressed out finding ways how to get your money back.

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Thank you both.

Findingnemo

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As per their official website registered user with level 1 tier can withdraw upto 10K USD per day but I am not using it anymore for years especially since the hack in 2020.

I just want to give you the warning about their reputation in the recent times is not good so better choose other trading exchanges like Kucoin which still has no KYC trading feature if I am not wrong.

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Quote from: Mbidox on October 14, 2022, 05:53:27 AM

I am just worried, that when I want to withdraw 2000$, then it is said, "Sorry, we need KCY".

Would appreciate if someone has experience with this. Thank you.

I didn't use Polo for many years, so I cannot really tell from experience, but $2k is a rather small amount and they should not cause troubles, especially as their help page tells:

Quote from: https://support.poloniex.com/hc/en-us/articles/360040027873-Increasing-Withdrawal-Limits

Level 1 accounts can withdraw up to $10,000 USD per day by default. If you have a Level 1 account and enable 2FA, your withdrawal limits will automatically increase to $50,000 per day.

So in theory you should be OK until $50k per day. However, also in theory they/anybody may ask for KYC even after the first 1$.
Keep in mind that since they're registered in Panama, they can easily work with different amounts than the exchanges obeying EU/US laws.

This should help if you don't get better answers from people who have been withdrawing more lately.

Mbidox

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Hello,

Any experience with poloniex?

It is sead, that we can withdraw coins until 50000$ per day without KCY with tier1.
This is unbelievable.

https://ibb.co/SBLsgzG

Or does this mean 50$ (50.000) ?

I am just worried, that when I want to withdraw 2000$, then it is said, "Sorry, we need KCY".

Would appreciate if someone has experience with this. Thank you.

Topic: Poloniex withdraw limit real? (Read 254 times)