Poloniex

This review is for the digital asset exchange. This is a business that proves that despite making a killing, you can still run a business pretty poorly and have a pretty poor customer satisfaction rating.

Poloniex has been plauged with scalability problems for quite some time. With the recent surge in Bitcoin/Altcoin popularity, the user base grew exponentially and the exchange was woefully underprepared to handle the surge in demand. As a result, customers were unable to upgrade to higher tier verification levels, significantly hampering their withdrawal levels, and thus making a lot of customer unhappy. Many customer reported 20-30 day waits before hearing back on their customer service requests (tickets).

The coolest thing about Poloniex was its live and vibrant "Trollbox" which allows exchange users to chat with each other in a dynamic and public environment. However the public chat was overwhelmed with repeated customer service requests and complaints, and just as recently as yesterday the Trollbox was shutdown indefinitely to fold the moderators over to the much needed customer support.

The exchange also does not let you deposit or withdraw fiat currency. You must used an intermediary like Tether, or transfer funds using cryptocurrency. Thus you eat the conversion cost in some way. I suppose the benefit is getting around the stricter portion of U. S AML laws, since no fiat money is supported.