Yawn… take it to polo and and complain there.
As myself and others have said, polo is a good option for many.
You disagree, fine.
That does not make it inappropriate to reccomend.
Except to you it seems.
There are not many more viable options and you know that.
It was not the going to KYC that was the problem, it is that they announced they would allow people to withdraw their coins after the date but then on the date they didn’t allow then to withdraw and effectively holding those coins to ransom unless they did KYC.
KYC was not the issue, it was the disallowing of withdrawals when they clearly announced it would be allowed.
To be clear it was not going to KYC that was an issue.
AND they said if you did not do KYC then you would be able to withdraw your coins, even though your trading was halted. This was the actual issue, not going to KYC
BTW I did not lose anything and was not trading on Poloniex anyhow. I am stating this as people seem to feel its the KYC that was the problem, no it was denying withdrawal of coins when they clearly said they allow the coins to be withdrawn.
Its an issue of honest dealings.
I agree that they should have made a comment to users which date kyc was going to be implemented, they also should have stated that funds could not be withdrawn if users did not verify their account after kyc implementation. It would probably been against rules to allow withdraws after kyc was implemented because that is the whole purpuse of kyc, to not allow transfers without verifying an account.
As a majority probably don’t have a problem with verifying their account, then the problem of not being able to withdraw without verifying the account becomes a non existing problem.
As a majority probably don’t have a problem with verifying their account it is perfectley okey to give a general recommendation to use Poloniex, which should apply to most new users.
But if someone want’s to, then they can make a disclaimer: if Poloniex needs to follow regulatory rules which demands user action then you might not be able to withdraw funds without completing those actions, even if they say that you can do so.
I strongly believe that Poloniex is the best exchange we have right now, and it is a better exchange then many other exchanges out there, so it should also be perfectley fine to recommend them.
That is wrong. There is always an issue when being dishonest in the dealings with their customers whom they profit from.
Remove the broad brush of “As a majority” and I will agree with you. Since that time they seem to have dealt fairly and now Circle (or whatever they are called) own them so its different anyhow.
Was it the case that the KYC was enacted when Polo was acquired? If so, maybe the previous management said they’d allow the withdrawals, but the legal counsel of the new owners nixed it?
Announced prior. And no set date for forcing KYC. Then when date set (or just announced after fact - don’t remember) people found they could not withdraw. I think the actual date which kyc was forced was after acquired or at least after the process of acquisition had started.