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As one of the top reputable cryptocurrency exchanges today, Poloniex promises to provide users with a safe and stable trading environment with cryptocurrencies like Bitcoin, Ethereum, Monero, and Tether. Additionally, Poloniex is known for its high liquidity. Some reviews about the Poloniex exchange, a leading Bitcoin trading platform globally, in the article below will help you understand information about this exchange before deciding to invest in it.
Review of Poloniex: Leading Global Bitcoin Exchange
1. What is Poloniex?
Poloniex cryptocurrency exchange facilitates trading in over 140 cryptocurrencies including Bitcoin (BTC) and Monero (XMR). The company was established in January 2014 and is headquartered in the United States.
Similar to other cryptocurrency exchanges, Polo Bitcoin Exchange pledges to offer users a secure and stable trading environment. Unique features of the Poloniex cryptocurrency exchange include advanced charts and data analysis tools for customers.
Poloniex is also known for its high liquidity and has the largest trading volume in the online market. The company also provides additional trading services such as margin trading and lending.
Bitcoin is a popular cryptocurrency for investment nowadays, with various ways to earn bitcoin shared. However, due to the different ways to earn bitcoin, newcomers often feel confused about choosing the most suitable way to earn bitcoin for themselves.
2. Poloniex Services
User reviews of Poloniex exchange are very positive, offering various services:
- Over 140 Bitcoin (BTC) and Monero (XMR) markets.
3. Features of Poloniex.com
Poloniex includes all the following features:
- Deposits and withdrawals: only accept cryptocurrencies.
- Country: United States.
- Cryptocurrencies: Over 100 coins.
- User interface: simple and easy-to-navigate interface.
- Advantages: good liquidity, user-friendly interface, diverse features.
- Disadvantages: anonymous ownership, no US license.
There are many free bitcoin lists that help users get their first bitcoins, however, these free bitcoin lists only help a very small part and do not meet the large demand of players. In addition, Poloniex Exchange also supplements all the following features:
4. Unique Tools of Poloniex:
- Stop orders to minimize risks during trading.
- SMA and 2 EMA lines ready for user customization.
- Japanese candlestick charts within 5 minutes, 15 minutes, 30 minutes, 2 hours, and 4 hours.
- Zoomable chart including transaction history.
5. Security Features in Poloniex
- Customer funds kept in cold storage.
- Continuous transaction auditing and monitoring for any unusual activities.
- 2-factor authentication available for all accounts to protect users.
6. Community Features and Customer Support
- Poloniex assures timely and thorough resolution of all issues.
- A chat box allows users to share and update ideas (you can view the chat box directly on the main trading page).
- Chat moderators are available to directly address users' questions and concerns.
7. Transaction Fees on Poloniex.com Exchange
Since March 2016, Poloniex bitcoin exchange has implemented seller fees. This means that the more transactions you make, the lower your fees become. Fee structure is calculated once every 24 hours based on the last 30 days of transactions.
For instance, if you've traded under 600 BTC in the last 30 days, your fees are 0.15% (sellers) and 0.25% (buyers). If you've traded 6,000 BTC or more, fees are 0.08% (sellers) and 0.16% (buyers). At 24,000 BTC or more (maximum level), fees are 0.00% (sellers) and 0.10% (buyers).
There are a total of 10 fee types on the Poloniex exchange.
8. Should You Use Poloniex.com Exchange?
Poloniex is renowned for its high liquidity in the cryptocurrency market, boasting the largest trading volume in most markets.
However, Poloniex only accepts cryptocurrency transactions and does not support deposits and withdrawals of common currencies. It's solely for trading purposes.
Poloniex also stands as one of the secure trading platforms, although their record isn't flawless. In March 2014, the exchange was hacked, resulting in the loss of 97 Bitcoins. Poloniex promptly reimbursed the lost bitcoins.
Poloniex is widely regarded as one of the world's leading reputable bitcoin exchanges, rivalling the likes of Local Bitcoins. Poloniex offers users a secure and trustworthy trading platform, with competitive transaction fees that decrease for larger trades.
Is Poloniex a scam? Is Poloniex safe? These are questions newcomers often ask when exploring this exchange. According to the majority of users, Poloniex is deemed very safe for those trading on the platform. Additionally, there have been no disputes or allegations of scams regarding Poloniex to date.
9. Other Bitcoin Exchanges.
- CEX.io Exchange
- Allcoin Exchange
- Bittrex Exchange
Above, Mytour has reviewed Poloniex.com exchange, hoping you have found the most satisfactory answers and made a decision on whether to invest in this platform. If you have any questions, please leave a comment, and we will respond to you.
If you're looking to review Changelly, HitBTC exchanges, check out the article here.
- Read more: Review of Changelly Exchange
- Read more: Review of HitBTC Exchange
