Crypto Trading with Poloniex

Poloniex is a US-based digital asset exchange that offers maximum security and advanced trading features. According to the official website, this is the most active digital asset exchange and any funds you put into the exchange are only used to facilitate trading through your account.

Some benefits for traders include:

  • Best security practices (To protect users Poloniex requires two-factor authentication for all withdrawals and API usage)
  • The vast majority of customer deposits are stored offline in air-gapped cold storage
  • Poloniex auditing programs monitor exchange activity 24/7/365 and block any suspicious activity before it becomes a problem
  • Clients funds are only used to facilitate trading through their account
  • Poloniex does not operate on fractional reserves
  • Poloniex offers margin trading

Click here to instantly start trading with Poloniex ❱❱
 

Platform

Poloniex offers a web-based platform, the charting package is average with several technical indicators available. On the official web page, you can not find too much information about the trading platform. Poloniex provides its users with a platform that allows their orders to be matched with the orders of other Users. Orders may be partially filled or may be filled by a number of orders, depending on the trading activity at the time an order is placed. The platform has suffered from slow trading, order book issues and even plain outages every time there is an unusually high trading activity on the exchange. Margin trading on Poloniex is HIGH RISK. As a borrower, you may sustain a total loss of Tokens, or owe Tokens beyond what you have deposited to your Account. The high volatility and substantial risk of illiquidity in markets means that you may not always be able to liquidate your position. Every 24 hours, Poloniex will calculate the last 30 days of trading volume on your account (spot and margin combine) and dynamically adjust your fees according to the following schedule:

Regulation

Poloniex is a regulated entity and must comply with applicable law. Poloniex is registered with the Financial Crimes Enforcement Network (“FinCEN”) as a Money Services Business (“MSB”), registration number 31000091844018. Poloniex may be required to file details of Account activity to FinCEN from time to time. Poloniex may also be required to provide information to government agencies as required by law to other state or federal agencies.

Supported Digital Currencies

Poloniex supports more than 65 cryptocurrencies, the most usually are: Monero (XMR), Ripple (XRP), Zcash (ZEC), Bitcoin Cash (BCH), Bitcoin (BTC), Dash, Ethereum Classic (ETC), Ethereum (ETH), Litecoin (LTC), OmiseGO (OMG), Augur (REP)..

Deposit and Withdraw

Poloniex is a crypto only exchange and not accepts deposits in fiat currencies such as US Dollars, Euro, and Yen. You can deposit coins into your account using the desktop or the mobile site. Some coins have individual rules and exceptions and some may have a minimum deposit amount. The most common deposit error is one where a user deposits coins to the deposit address of the wrong coin type. You can withdraw coins from your account via the desktop or the mobile site using the ‘Withdraw’ option. Poloniex has strong security with two-factor authentication. Poloniex uses absolutely transparent and fair practices to protect all data and secure methods for funds depositing/withdrawing.

Support

For the most part, the company does the job just fine, but there are obvious areas that need improvements. Some users have complained about horrible customer support from Poloniex staffers. Speaking of support, Poloniex conducts a thorough AML and KYC procedure for all users, even if they do not deposit or withdraw fiat currencies. This means users will need to upload documents to verify their identity, a process that can take days, if not weeks, for some users. To contact support, go to Poloniex Support and open a ticket. Their contact form is only available on their desktop site at this time.

Overview

  • Poloniex is a US-based digital asset exchange that offers maximum security and advanced trading features
  • Best security practices
  • Clients funds are only used to facilitate trading through their account
  • Poloniex offers margin trading
  • Customer support: e-mail
  • Payments to and from Poloniex can only be made via crypto currencies
  • The Poloniex platform processes and executes orders as soon as they are placed

Summary

Poloniex, LLC operates a cryptocurrency exchange platform that offers trading features. The company was founded in 2014 and is based in Wilmington, Delaware. Payments to and from Poloniex can only be made via cryptocurrencies. Poloniex is a crypto only exchange and not accepts deposits in fiat currencies such as US Dollars, Euro, and Yen. The vast majority of customer deposits are stored offline in air-gapped cold storage. Poloniex only keeps enough online to facilitate active trading, which greatly minimizes risk and exposure. Poloniex offers a web-based platform, the charting package is average with several technical indicators available. Some users have complained about horrible customer support from Poloniex staffers. Their contact form is only available on their desktop site at this time. For the most part, the company does the job just fine, but there are obvious areas that need improvements.

Click here to instantly start trading with Poloniex ❱❱
Poloniex supports more than 65 cryptocurrencies currently
Poloniex has strong security with two-factor authentication. Poloniex uses absolutely transparent and fair practices to protect all data and secure methods for funds depositing/withdrawing.
Poloniex headquarters - Wilmington, DE 19801, United States
Some coins have individual rules and exceptions and some may have a minimum deposit amount. Please make sure you pay attention to these rules when making deposits.
All clients, regardless of their country of residence, may trade on Poloniex
Poloniex is a regulated entity and must comply with applicable law. Poloniex is registered with the Financial Crimes Enforcement Network (“FinCEN”) as a Money Services Business (“MSB”), registration number 31000091844018.

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