Use Poloniex for receiving payments - page 2.

nemgun

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Quote from: samcoin on April 26, 2017, 08:50:28 AM

Quote from: shamzblueworld on April 26, 2017, 07:05:17 AM

Is it okay/wise to receive payments directly to the poloniex account? Especially if the payment to be received is an altcoin?
Because eventually the altcoin is to be exchanged with bitcoin, which will be done at polo so it makes sense to receive the alts directly there.
Same goes for buying altcoin too right? I can buy alt with fiat from someone and give them polo address to receive. Has anyone done this?

Poloniex is well protected exchange and you can receive your alt directly there, many people (including me) do it, just make sure to set strong password and 2FA. In addition, you won't lose a lot when you want to withdraw your bitcoin after selling your alts, polo fee is the least one between all exchanges.

You should seriously revise your response :

https://www.reddit.com/r/BitcoinBeginners/comments/4abehg/is_it_ok_to_keep_coins_and_other_cryptocurrencies/
https://www.reddit.com/r/ethtrader/comments/44zdzm/do_people_store_ether_on_poloniex_or_transfer_to/
https://www.cryptocoinsnews.com/cryptocurrency-exchange-poloniex-insecure-security-review-claims/
https://www.cryptocompare.com/exchanges/poloniex/reviews
https://forum.z.cash/t/sending-payments-to-poloniex-t-address/5899

I don't think that you need more then this.

samcoin

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Quote from: shamzblueworld on April 26, 2017, 07:05:17 AM

Is it okay/wise to receive payments directly to the poloniex account? Especially if the payment to be received is an altcoin?
Because eventually the altcoin is to be exchanged with bitcoin, which will be done at polo so it makes sense to receive the alts directly there.
Same goes for buying altcoin too right? I can buy alt with fiat from someone and give them polo address to receive. Has anyone done this?

Poloniex is well protected exchange and you can receive your alt directly there, many people (including me) do it, just make sure to set strong password and 2FA. In addition, you won't lose a lot when you want to withdraw your bitcoin after selling your alts, polo fee is the least one between all exchanges.

alyssa85

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Quote from: shamzblueworld on April 26, 2017, 07:05:17 AM

Is it okay/wise to receive payments directly to the poloniex account? Especially if the payment to be received is an altcoin?
Because eventually the altcoin is to be exchanged with bitcoin, which will be done at polo so it makes sense to receive the alts directly there.
Same goes for buying altcoin too right? I can buy alt with fiat from someone and give them polo address to receive. Has anyone done this?

You can certainly do it - it's less hassle than having loads of alt wallets on your PC and having to update them all.

However, before you receive the coins, check the wallet on Poloniex is current and not under maintenance, And then sell quickly for bitcoin and transfer the bitcoins out to your own wallet.

goinmerry

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Quote from: shamzblueworld on April 26, 2017, 07:05:17 AM

Is it okay/wise to receive payments directly to the poloniex account? Especially if the payment to be received is an altcoin?
Because eventually the altcoin is to be exchanged with bitcoin, which will be done at polo so it makes sense to receive the alts directly there.
Same goes for buying altcoin too right? I can buy alt with fiat from someone and give them polo address to receive. Has anyone done this?

Do not withdraw from your preferred exchange to Poloniex that expect coins to be sent back to the same address whether bitcoin or altcoin.

I know your point and yes it's making sense and will give you less hassle way but it's wiser that you have the control of your own address and then just transferred it to Poloniex. I did that too in some of the cases (altcoin exchange to altcoin exchange) but not always to avoid problems in the future.

nemgun

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Quote from: shamzblueworld on April 26, 2017, 07:05:17 AM

Is it okay/wise to receive payments directly to the poloniex account? Especially if the payment to be received is an altcoin?
Because eventually the altcoin is to be exchanged with bitcoin, which will be done at polo so it makes sense to receive the alts directly there.
Same goes for buying altcoin too right? I can buy alt with fiat from someone and give them polo address to receive. Has anyone done this?

It isn't wise at all, you should never trust exchanges, Poloniex have his security issues too. You should always send your funds to a wallet you contorle, and then forward them to an exchange. It is even more unwise when it is an Altcoin, because it could be either delisted, in maintenance, not synchronised, or anything because it is an Altcoin.

If it is bitcoin, then it is even more unwise then any other crypto, as you could think that regarding the transactions fees it is more interesting, but no, because you aren't the emitter of the transaction, so, what ever you do, withdraw to your wallet, and then send them to exchange, always.

shamzblueworld

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Is it okay/wise to receive payments directly to the poloniex account? Especially if the payment to be received is an altcoin?
Because eventually the altcoin is to be exchanged with bitcoin, which will be done at polo so it makes sense to receive the alts directly there.
Same goes for buying altcoin too right? I can buy alt with fiat from someone and give them polo address to receive. Has anyone done this?

Topic: Use Poloniex for receiving payments - page 2. (Read 1132 times)