Poloniex is improving their support capacity

evo

Site Admin
Apr 2017
Seattle
#1
Poloniex made an unexpected announcement today, which involved shutting down their Trollbox and reallocating those moderators to assist with support. The Poloniex support staff has continued to be in high demand, as there are backlogs of people waiting on verifications and withdrawal approvals. Poloniex acknowledges the support challenges they have been facing with their growth and made the following announcement explaining everything going on:
Last month, we described the unprecedented growth and excitement in the blockchain community and how this exuberance can present operational challenges for exchanges. As this trend continues, we are doubling down on our efforts to expand and improve your experience on the Poloniex platform. We also want to remind our community to take caution when exchanging tokens in highly volatile markets and understand that unexpected events can have significant market effects. Please use the platform to trade responsibly and within your means.

Support Team
Increased enthusiasm for trading blockchain tokens on the Poloniex platform has led to increased stress on our systems. Heightened activity and new users mean more support tickets and man-hours spent resolving them. Thus, to meet this demand, we have more than doubled the size of our support team and will continue to focus our efforts toward improving user experience.

Hiring quality support staff is neither easy nor quick, especially in our line of business. Training must cover the technical and regulatory complexity of a rapidly evolving industry and community. We must also ensure the security of our system and operations at every level. This requires thorough and proper vetting of new staff.

Onboarding and Account Verifications
We mentioned new users, but we did not mention what is involved in onboarding or tier verification. As a registered money services business in the United States, we must be able to verify the identity of our users, the source of their funds, and the purpose of their transactions as they occur on our platform. If users want to move up a tier, they must provide more identifying information. This is required of us by law and we take our compliance obligations very seriously. As we scale our team, we are building a culture of compliance for our organization. To comply with our legal obligations, our current onboarding and verification process often requires some manual input. This takes time and resources, creating a support bottleneck.

We are aware of the negative impact these delays can have on Poloniex users. To address this, we have begun automating more aspects of our onboarding and account verification systems. Our hope is that with enterprise-grade service providers we have carefully vetted and procured, this particular backlog should lessen considerably, helping platform users have a better experience while their private information remains protected in line with our Privacy Policy.

Withdrawals/Awaiting Approval
We are legally required to know the identity of our users and to maintain strict controls over how funds leave our platform. In addition, our auditing system flags for specific activity to ensure the safety of your funds. While we cannot reveal precisely what triggers such flags without compromising the integrity of the system, we want to highlight how our efforts to keep our platform safe and secure can degrade the user experiences at times. For example, when our system flags an activity as suspicious, the ensuing investigation and resolution usually requires human intervention, which takes some time. As we gain more users, they naturally trigger more flags that require more of these slow human interventions, so more human resources are required to handle the volume.

Automation here is tempting to rush, but difficult to get right. Large financial institutions have spent years fine-tuning these functions. Our rapid growth does not permit us that luxury, but we can learn lessons from their operational successes. As we improve our support more generally, we can address these tickets faster. Users should start noticing incremental advances in the coming weeks.

As we implement these changes, we encourage our users to be patient and not submit repeat tickets. The vast majority of our open tickets consist of duplicates. Submission of repeat tickets only increases our backlog and does not get your ticket reviewed faster. Manual effort must be expended to identify, match, and consolidate tickets to ensure the issue has been addressed. Repeat submission needlessly slows resolution not only of your ticket, but of all other outstanding tickets.

We are successful when Poloniex users have the best experience possible, so it is with that in mind that we renew our commitment to improving the user experience on our platform. Look for more updates and announcements as we continue this process.
 

evo

Site Admin
Apr 2017
Seattle
#3
What other platforms do you guys use for crypto currencies? Poloniex said they were no longer supporting users in WA state, from what I found...
When creating your account on Poloniex, I would strongly recommend declaring a different state for your residency. You will be allowed to proceed with creating an account on Poloniex, where you have Level 1 Verification, which limits you to unlimited deposits, unlimited trading, and limited to $2,000 USD a day in withdrawals.

Buy your BTC on Coinbase, transfer your BTC to Poloniex, and you then you can start trading cryptocurrencies.
 
#4
Is there any legal ramifications for declaring a different state? Is there any verification I need to provide?

I currently do my non-crypto trading with TradeStation. If I could view charts with TS I'd do so...
 

evo

Site Admin
Apr 2017
Seattle
#5
Is there any legal ramifications for declaring a different state? Is there any verification I need to provide?

I currently do my non-crypto trading with TradeStation. If I could view charts with TS I'd do so...
There are absolutely no legal liabilities that you need to be concerned about. And as long as you're ok with and maintain your Level 1 Verification, you will never be required to provide any additional information. Once you're signed up, do not apply for Level 2/3 Verification on Poloniex.