Poloniex exchange review
Poloniex is a centralized exchange that occupies #115 on Guru InvestingExchange Tracker. Poloniex has trading volume US$943,098,074 in the last 24 hours and US$137,347,640,261 in the last 7 days.
Poloniex currently has 502 cryptocurrencies, 36 paper currencies and 680 markets (cryptocurrency trading pairs). The most popular trading pair on Poloniex: BTC/USDT.
You can read the full expert review of Poloniex here: Polonix review.
Compare Polonix next to other exchanges here: Exchange comparison tool.
Polonix is a centralized cryptocurrency exchange (CEX) located in the Seychelles. Launched in 2014, it offers trading spot and derivatives markets. Cryptocurrency exchange Poloniex is also considered the first to list and support for tokens forked by ETH.
Poloniex is available in more than 100 markets. However, the service was discontinued in the US in 2019, meaning US residents cannot access any of the services provided by the exchange. Some assets and services may be limited due to regional restrictions.
Eat two levels of accounts on the Poloniex cryptocurrency exchange. Some services may be limited to Tier 1 accounts and available to Tier 2 users who have completed KYC verification.
Markets
Over 500 Poloniex trading pairs and over 300 assets available. The platform supports both crypto-to-crypto and crypto-to-fiat transactions. Margin trading with leverage up to 2.5x. available.
In August 2022, Poloniex launched new trading system which aims to provide higher transaction speeds and greater stability. Due to the platform belonging to Thronethere are discounts and special conditions for customers who hold and trade USDD or TRX tokens. All USDD trades are free of Poloniex exchange fees.
The Poloniex spot market uses six-tier producer and recipient commission structure. In addition, institutional traders can apply for Poloniex Plus and Poloniex Market Maker programs. To enter the second level commission range, traders must have at least $49 worth of TRX. In general, levels are determined by Poloniex’s 30-day trading volume.
Level 1 requires a trading volume of up to $50,000. Maker/taker fees are 0.1450% and 0.1550% respectively. If a user’s TRX cryptocurrency price balance on Poloniex does not exceed $49, maker/taker fees are discounted to 0.1015% and 0.1085% respectively.
At Level 6, Poloniex’s required 30-day volume is at least $50 million. The standard manufacturer commission is 0.0200%, and the preferential rate is 0.0140%. For takers, the standard rate is 0.1000%, and the TRX holder rate is 0.0700%.
Poloniex Plus is a VIP platform for professional traders. Crypto exchange Poloniex offers two Plus levels: Silver and gold. VIP clients receive premium features. There are no manufacturer fees on Plus plans. Taker fees are 0.0600% for Plus Silver and 0.0400% for Plus Gold. TRX discounts apply to the Poloniex cryptocurrency rate.
Poloniex Market Maker Program is intended for institutional clients who have reached the Poloniex 30-day volume threshold. Manufacturers are entitled to discounts. Other Poloniex exchange fees vary from person to person.
The derivatives market offers a pool of over 30 Poloniex trading pairs. All contracts are concluded on Perpetual futures with USDT margin. Clients can trade with up to 100x leverage on a minimum of 10 assets.
Poloniex futures trading fees are standard at 0.01% for makers and 0.075% for takers. Poloniex’s 30-day trading volume does not affect futures market rates.
Poloniex spot and futures markets are gamified through Leaderboard Campaigns. These are exchange events that allow clients to earn various assets through trading. Campaigns are usually carried out after the launch of new crypto assets on the Poloniex crypto exchange.
There are no deposit fees on the Poloniex crypto exchange. Withdrawal fees are dynamic and depend on network speed. Each asset has a fixed commission, which can be viewed in the account wallet.
In addition, the platform offers off-network transfers. This allows Poloniex account holders to transfer funds within the platform without having to record transaction data on-chain. There is no withdrawal fee for using the service.
other services
Launch base it is a platform that hosts sales of newly listed and pre-listed assets. It supports cryptocurrency coins, regular tokens, and non-fungible token (NFT) collections. Crypto exchange Poloniex has joined APENFT Marketplace in May 2022. It allows users to mint, buy and sell ERC-721 and TRC-721 tokens.
In addition, Poloniex is connected to SunSwap, an exchange protocol on TRON. This allows users to exchange TRC-20 tokens using the system price. Trading fees are used to reward the protocol’s liquidity providers.
Staking is supported by Poloniex as one of several rewards programs. Users can stake one of several eligible assets, including TRX, BTT, and USDD, to receive various rewards. To start betting, Poloniex does not charge any cryptocurrency fees.
About company
Cryptocurrency exchange Poloniex was founded in 2014 Tristan D’Agosta. The company was originally founded in the USA. However, in 2019 the headquarters were moved to the Seychelles.
A few months after its launch, in March 2014, the service suffered a hack, resulting in the loss of more than 12% of the total bitcoin supply. The full value of the stolen Poloniex cryptocurrency was returned to users.
In 2015, Poloniex left New York State after Bit license the requirement was implemented. A year later, it also ceased operations in New Hampshire. In 2016, Poloniex became one of the first cryptocurrency exchanges to introduce a listing. Ethereum (ETH).
In February 2018, Poloniex was acquired by a P2P payment technology company. Circle for 400 million dollars. In October 2019, Poloniex left Circle to form an independent company. Polo Digital Assets, LLC. Following this change, it was announced that Poloniex would no longer be available in the US as of December 2019.
In December 2019, a two-tier account structure was introduced. According to the announcement, Tier 1 users only needed an email address and password to withdraw up to $10,000 per day.
In February 2020, a software problem arose on the Poloniex crypto exchange. To fix the problem, the platform underwent maintenance, during which 12 minutes of trading history was deleted.
In August 2022 Justin Sun, founder of Tron (TRX), announced that Poloniex will provide support for all forked Ethereum tokens after the merger. This was done in order to make the transition from Proof of Work (PoW) consensus mechanism for Proof of Stake (PoS) smoother.
Tristan D’Agosta is the CEO of Poloniex. He is also known as a music composer. For many years, D’Agosta remained largely behind the scenes, revealing little about his biography. In 2018, he was named to the Fortune Ledger 40 under 40 list.
Justin Sun is an entrepreneur and developer of Tron, the blockchain company behind the TRX asset. He became the actual owner of Poloniex after investing in the company in 2019.
Poloniex related pages
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
