In an effort to improve the experience for our customers, we implemented a new feature called "Off-Chain Transfers". This will allow customers to easily and quickly send funds for free between Poloniex accounts.

You can now send any of our listed currencies using this new feature. There is no withdrawal fee for these off-chain transfers (the fee is displayed, but will not be charged when executed).

Since funds are being moved within our platform, bypassing the blockchain, the transaction is instant. You don’t have to wait for the transaction to be confirmed – a normally slow and expensive process.

As a result of the bypass, the transaction ID will feature the prefix “transfer-” with an alphanumeric string following. Block explorers will not show these transactions, as they refer to movements within the Poloniex system.

***Caution*** 

Please avoid making an Off-Chain Transfer to a newly created wallet address within 10 mins, system might not recognize it as an Off-Chain Transfer and send it via blockchain, causing withdrawal fees to be charged.

If you have any questions about this new implementation, please reach out to our support team.