Cryptocurrency exchange Poloniex now allows its users to withdraw 10 thousand dollar per day, while staying anonymous. Traders don't need to confirm their identity. As a result traders can withdraw 300 thousand dollar per month or 3.65 million dollars per year while staying anonymous. The company announced their policy changes in a blog post.
These changes happen one week after closing the exchange for traders from the United States. In the blog post the company stated they are 'sorry to keep their customer waiting'. From now on any customer who signs up can start trading with a level 1 account. This account comes with unlimited trading, unlimited deposits and $10.000 per day in withdrawals.
It's worth mentioning that a withdrawal to a bank account will ultimately lead to the identification of the customer. On top of that it's a bit unclear what this means for United States-based traders. It looks like they can easily apply for a level 1 - and anonymous - account, just by changing their IP address using a VPN server.
Poloniex had a turbulent year
Cryptocurrency exchange Poloniex didn't have the easiest year in its existence. After being acquired for $400 million by investment company Circle in February 2018, the exchange lost its leading position in the market. In October Circle decided to get rid of the exchange, and Poloniex continued its operations under its own corporation Polo Digital Assets.
Polo Digital Assets found a new investor in Asia. They got $100 million from a group of investors, including Justin Sun from the Tron Foundation. The connection between Tron and Poloniex has been very clear from the start. Poloniex tweeted 'Buy Tron', but later removed the tweet. In addition the exchange acquired decentralized exchange TRX Market, and rebranded it to Poloni Dex.
Going up
Ever since Poloniex moved away from Circle in October, things have been going up. For example, the exchange has seen its market share grow from 1 percent to 2 percent within a month. Poloniex has implemented a zero trading fee program until the end of the year, giving trading benefits to its users.
Posted from my blog: https://www.nederob.nl/2019/12/24/poloniex-allows-anonymous-10-000-withdrawals/