Poloniex US Customers: What to Expect After Shutdown

If you're a Poloniex US customer, you're likely feeling a bit lost after the shutdown. The exchange was shut down in 2021, leaving many users wondering what to do next.

Poloniex US customers were moved to a new platform called Poloniex US. This platform is a part of the Coinbase family.

You can still access your Poloniex US account, but you'll need to create a new account on the Coinbase platform to access your funds. This is because the Poloniex US platform is no longer supported.

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Poloniex is shutting down operations to U.S. users, with the last day for U.S. users to execute trades being November 1, 2019.

U.S. Poloniex users have until December 15, 2019 to withdraw their crypto, as this is the last date they will be able to do so.

On October 18, 2019, Poloniex sent an email to U.S. users informing them that they are spinning off from their parent company Circle and will no longer serve the United States.

The shutdown was announced after Circle acquired Poloniex on February 26, 2018.

To avoid problems come tax season, it's essential for U.S. users to export their Poloniex transaction history.

To export your Poloniex transaction history, login to your account, hover over the orders tab, and select "My Trade History & Analysis".

You can then click the export history button to get a file of all your taxable events on Poloniex's platform.

This file will upload into your TaxBit account, or you can connect your API from Poloniex to TaxBit, a two-minute process that can save you hours of anguish come tax season.

As a Poloniex US customer, it's essential to prepare for tax reporting. You'll still have access to your account until December 15th, but it's best to download your trade history files before then.

Getting your crypto taxes done without proper historical data is essentially impossible. So, download your transaction history as soon as possible. To do this, login to your Poloniex account and select "My Trade History & Analysis" from the Orders dropdown.

Make sure to export your trade history from all years of trading using Poloniex's date ranges, and don't overlap dates to avoid duplicates. You may need to export multiple files to capture all of your history. Once you have your file, you can automatically import it into crypto tax software like CryptoTrader.Tax for one-click tax reporting.

As a trader, it's essential to prepare for any changes in the market, including the shutdown of a popular exchange like Poloniex. Take a close look at the assets you have on Poloniex and identify which ones you'll no longer be able to access.

You should also be aware of which assets you can no longer trade or cash out of on Poloniex. If alternative exchanges don't support specific cryptos, consider converting to a more popular asset like BTC.

By December 15th, 2019, withdrawal all of your funds out of Poloniex to avoid any potential issues.

To prepare for tax reporting, it's essential to pull all of your trade history files from the exchange prior to the deadline. US based Poloniex users will still have access to their accounts through Dec. 15th.

Getting your crypto taxes done without proper historical data is essentially impossible, so it's better to err on the side of caution and download your transaction history as soon as possible. You can download your historical transaction data from Poloniex by logging into your account and selecting "My Trade History & Analysis" from the Orders drop down.

To export your trade history from Poloniex, select the "Trade" option and export your trade history from ALL years of trading using Poloniex's date ranges. You may have to export multiple files to capture all of your history, and make sure dates do not overlap to avoid duplicates.

Once you have your Poloniex transaction history file, you can automatically import the file into crypto tax software like CryptoTrader.Tax for one-click tax reporting.

Exiting the U.S. market was a difficult decision for Poloniex, but it's a necessary step to be competitive globally.

Poloniex will no longer be available to U.S. customers, and Circle is shutting down operations for U.S.-based Poloniex clients.

Starting on November 1, 2019, U.S. customers will no longer be able to execute trades on the exchange.

Take a look at this: Customers Bank Customer Service

Exiting the U.S. market was a tough decision for Poloniex, but it was necessary to remain competitive globally.

Poloniex will no longer be available for U.S. customers, and Circle will shut down operations for U.S.-based Poloniex clients.

Trading on the exchange will end for U.S. customers on November 1, 2019.

U.S. users will still be able to withdraw their assets through Circle until at least December 15, 2019.

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Exiting the U.S. market requires careful consideration of several key factors. The Poloniex exchange, for example, operates globally, offering a range of deposit and withdrawal options, including cryptocurrency pairs and fiat currencies.

The exchange's fees and charges are also worth noting, as they can impact your trading decisions. The platform's fees are competitive, but it's essential to understand the costs involved in buying and selling cryptocurrencies.

Poloniex prioritizes privacy and security, using advanced encryption and security measures to protect user data and funds. This is particularly important for traders who are considering exiting the U.S. market and transferring their assets to a new exchange.

Effective customer support is also crucial when exiting the U.S. market. Poloniex offers a range of support options, including email, live chat, and a comprehensive FAQ section.

Before making a decision, it's essential to weigh the pros and cons of exiting the U.S. market and trading on a global exchange like Poloniex. This will help you make an informed decision that meets your needs and goals.

Here are some key features of the Poloniex exchange that are worth considering:

As a Poloniex user, you'll likely interact with their customer support team at some point. Unfortunately, the response time for their ticket system is rather long.

You can only contact the support team through an email ticket system, which might be a bit inconvenient for some users.

The good news is that there is an FAQ available that you can refer to. However, it only covers basic questions and doesn't contain many details.

This might leave you with more questions than answers, so be prepared to wait for a response from the support team.