QUOTE(kmarc @ May 21 2017, 11:50 AM)
Not only that, as far as I understand, these exchanges are unregulated, not like real stock exchanges. I'm not too sure how it works though. Just read about people wanting to sue Poloniex for the loses but they can't really do anything because Polo is not like a real entity, or something like that.
Polo did have a press release to "explain" their problems : https://poloniex.com/press-releases/2017.05...ct-on-Poloniex/
That's the reason why the coins you acquired need to be transferred out as soon as you can. For me, I have transferred out enough coins to already covered my capital, and then some. Yes, I'm happy to say that it only took about a month or two to recoup all my investments in this bullrun. Now whatever is on Polo is just my profits. Luckily XRP was recently supported by ledger and I'm transferring those out slowly too. I limit my transfer to level 1 on Polo (for security purposes), which is only USD 2,000 per day, so my transfers need a few times before I can completely transfer out XRP.
Your concerns are valid and the risks are definitely there. The question is, if this is the mother of bullruns, do you want to be a part of it?
Oh ya, if you are doing trades like forex, I would advise caution as Polo's server still can't handle the surge in users. It went from 20k to 40k users in just a few short weeks. When many users are online, you basically cannot do any trades. This is compounded by Polo allowing bots to trade.
Why my ledger is full of space after added Litecoin. The next I wanna add is XRP and it told me full... Why ah?Polo did have a press release to "explain" their problems : https://poloniex.com/press-releases/2017.05...ct-on-Poloniex/
That's the reason why the coins you acquired need to be transferred out as soon as you can. For me, I have transferred out enough coins to already covered my capital, and then some. Yes, I'm happy to say that it only took about a month or two to recoup all my investments in this bullrun. Now whatever is on Polo is just my profits. Luckily XRP was recently supported by ledger and I'm transferring those out slowly too. I limit my transfer to level 1 on Polo (for security purposes), which is only USD 2,000 per day, so my transfers need a few times before I can completely transfer out XRP.
Your concerns are valid and the risks are definitely there. The question is, if this is the mother of bullruns, do you want to be a part of it?
Oh ya, if you are doing trades like forex, I would advise caution as Polo's server still can't handle the surge in users. It went from 20k to 40k users in just a few short weeks. When many users are online, you basically cannot do any trades. This is compounded by Polo allowing bots to trade.
May 21 2017, 12:04 PM

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