Poloniex (poloniex.com) REVIEW, TRADING VOLUME AND PAIRS
Poloniex is considered to be one of the most popular trading platforms, which today is trusted by thousands of users, as evidenced by the daily trading volume, which is, at the time of writing, 11 million dollars (according to coinmarketcap.com). Founded in 2014, the exchange is based in the United States. It offers investors more than 100 different altcoins. According to user reviews, poloniex.com allows collecting a promising investment portfolio from cryptographic coins, which demonstrate a stable positive dynamics.
One of the features of the exchange is that the balance of Poloniex cannot be replenished with the help of fiat currency, and "dollar" trading pairs are tied to the USDT crypto-coin. One can trade not only on the official poloniex.com website but also through the official app, available for iOS and Android. Website claims a high level of security, which is achieved by protection against cyber attacks and optional three-factor authentication. Nevertheless, it is fair to note that the exchange has been repeatedly attacked, the proof of what you can find on the Internet. You can also find a lot of dissatisfied comments of users who complain about phishing attacks, provoked, in their opinion, by the lack of protection of users' personal data.
The registration process on the website is simple and intuitive, even though the interface is available only in English. After creating a new account, you must activate 2-factor authentication and pass the first stage of verification, after which you will be able to withdraw funds in the equivalent of up to $2,000 per day. You can also go through the next stage of identification, specifying personal data (address, ID) to expand the daily limit for withdrawal to 25 000 dollars. But if this is not enough for you, you can also directly contact support to set an individual limit.
The flexible commission system is one of the best advantages. The trading fee depends on the trading turnover and is 0-0.15% for the market maker and 0.1-0.25% for the market taker. There is no deposit fee, however, the platform charges a fixed fee for the withdrawal of funds to cover the costs of the network.
Among the positive aspects of the project we can note:
• More than 100 trading pairs and access to rare alcohols;
• Considerable age of the exchange;
• Optional 3-factor authentication;
• The clear and transparent interface of the trading cabinet;
• Average commission fee;
• Availability of margin trading;
• Wide range of tools for technical analysis;
• Quick withdrawal of funds from the trading balance;
• Availability of the official application for mobile devices.
Also has some negative features, among which are:
• The presence of only the English version of the website;
• Lack of support for fiat currencies;
• Insufficient quality work of support services;
• Occasional unannounced freezing of balances.
This is a decent exchange, where both a beginner and an experienced trader will feel comfortable. Nice interface and sound liquidity make the platform interesting for day traders and long-term investors. Although, until recently, users had security questions for the management, Poloniex remains one of the most reliable cryptocurrency projects, trusted by tens of thousands of users from all over the world. However, we would not recommend storing large amounts on the trading balance, and it is better to limit yourself to the amount you are willing to risk.