In times of mounting pressure on crypto companies to comply with expanding due diligence requirements, Poloniex has taken a step in the opposite direction. The exchange is lifting restrictions that applied to unverified users in response to customer demand. New and current accounts will enjoy access to unlimited trading and deposits.
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Access for Email-Only Accounts
Over the next few months, the current accounts of unverified customers will be unfrozen and upgraded to Level 1 accounts, the platform announced in a tweet this week. These users will have access to unlimited spot trading and deposits, while withdrawals will be restricted to a daily maximum of $10,000. Starting now, all new customers can create an account using only an email address and password and begin trading, Poloniex revealed in a blog post on the matter, stating:
We’ve heard your feedback time and time again about wanting to use Poloniex without giving up your identity. We’ve wanted to make this a reality for a while now and are sorry it has taken us longer than we’d like.
The new account tier means that anyone who signs up for the exchange from now on will be able to start trading immediately and already existing accounts of unverified users will be gradually upgraded to Level 1. “We know how frustrating your experience has been recently and we’re dedicated to improving that for you,” Poloniex emphasizes, addressing its long-time clients. “We are striving to provide the highest level of support and security possible for customers and appreciate your patience,” the exchange adds, advising customers to activate two-factor authentication as well.
Start trading in seconds 🚀
We just introduced a new account tier for new customers! All you need is an email address and a strong password and you’ll be trading in no time
Sign up now https://t.co/xtiQUcimNE pic.twitter.com/YmtZ2fs1We
— Poloniex Exchange (@Poloniex) December 19, 2019