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Why do Traders Trade on Poloniex instead of Gatehub?

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Since exchanges like Poloniex are susceptible to hacks, why do people trade their instead of exchanges like Gatehub?

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Well, for one, Poloniex trades a helluva lot more currency's than Gatehub. Gatehub is also in Europe. Poloniex is in the United States. There are considerations there for banking, account approval, wire time, etc...

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Who knows for sure, but my guess would be that there's a larger amount of pairs available on Poloniex giving users the ability to exchange almost anything for anything with just a few mouse clicks. 

Also, for a while the price on Polo was a little higher than on Gatehub, largely due to speculation and trollbox-induced panic buys. Since the trollbox was removed this has since changed.

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On 7/9/2017 at 2:52 PM, MrRippillionaire said:

Who knows for sure, but my guess would be that there's a larger amount of pairs available on Poloniex giving users the ability to exchange almost anything for anything with just a few mouse clicks. 

Also, for a while the price on Polo was a little higher than on Gatehub, largely due to speculation and trollbox-induced panic buys. Since the trollbox was removed this has since changed.

Nothing to do with the Korean exchanges opening?

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No KYC requirements, you can just send bitcoin and start trading

plus they have Tether option instead of true USD, very smart

and the network effect you get from btc and altcoin traders not wanting to submit docs etc

obviously when it comes to cashing out, everyone gotta go through KYC, ID steps

but polo has cornered the "millions of pointless coins" market

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plus let's not underestimate the lure of the TROLLBOX!

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23 minutes ago, kyriediculous said:

Because on gatehub anything other than XRP is an 'I owe u' (IOU)

so is btc trading on poloniex

only diff is they "secure" the funds from you first as a deposit

during actual trade, it's not actual btc, eth, xrp, etc

all cryptocurrencies are too slow for serious trading, so they always use internal ledgers

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54 minutes ago, zerpdigger said:

so is btc trading on poloniex

only diff is they "secure" the funds from you first as a deposit

during actual trade, it's not actual btc, eth, xrp, etc

all cryptocurrencies are too slow for serious trading, so they always use internal ledgers

True but on gatehub the IOU's are third party liquidity providers, not the exchange.
 

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Stay away from Polo in case you are not from USA. The last time I tried trading there I lost 20.000 USD just because the Polo freezed again.

I know most of the exchanges are very busy and have similiar problems,  It has been more than 2 months I didn't get tier 2 verification. And the support never responds to your questions. Absolutely use 2FA there . Well I guess that's valid for all exchanges to lower the risk.

Just for your info. Stay away!

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Until exchanges can work on speed—the fastest ones with most liquidity will be a necessary evil.

It boggles my mind why more don't invest in machine learning to automate a reasonable portion of KYC requirements. Not that hard.

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