Poloniex | Business24-7

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Written by Braden Chase Edited by Giles Thomas Fact Checked by Tomislav Turcin

7 March 2023

2 March 2023

Page Summary

Poloniex is a leading crypto exchange for retail traders. It offers beginner-friendly services and some learning tools. Poloniex is a secure exchange with access to 100+ crypto-to-crypto pairs. We recommend it for traders at all levels looking forward to impressive security.

Review Summary

Poloniex is one of the top exchanges to trade Ripple coins.
It offers access to many digital assets, including Bitcoin and Ethereum.
It is a secure exchange with an average fee structure.

Poloniex Overview

Poloniex is an unregulated crypto-to-crypto exchange. It offers 100+ trading pairs and margin trading. Beginners choose this exchange because it has a fast sign-up process. The platform’s interface is simple to navigate and the trading fees are average. Our Poloniex review reveals it is a top choice for traders at all levels who want to access Poloniex margin trading.

Trading Experience

Poloniex offers a desktop trading platform and a mobile app. It has two account tiers, one for verified users and one for unverified users. Verified users receive access to many tokens, larger trades, and incentives.

This exchange is the only one where ICO ATOMS coins are available. ATOMS are the digital tokens of Cosmos. This is a network of blockchains focusing on managing scalability challenges.

Cryptocurrencies Available

Poloniex offers access to popular crypto, including Bitcoin, Ethereum, and Ripple. Base currencies BTC, USDC, ETH, XMR, and USDC are available to trade against the following coins:

ARDR
ATOM
BAT
BCH
BCHABC
BCHSV
BCN
BNT
BTS
BURST
CLAM
CVC
DASH
DCR
DGB
DOGE
EOS
ETC
ETH
FCT
FOAM
GAME
GAS
GNT
GRIN
HUC
KNC
LBC
LOOM
LPT
LSK
LTC
MAID
MANA
NAV
NMC
NMR
NXT
OMG
OMNI
PASC
POLY
PPC
QTUM
REP
SBD
SC
SNT
STEEM
STORJ
STR
STRAT
SYS
VIA
VTC
XCP
XEM
XMR
XPM
XRP
ZEC
ZRX

Fees

The Poloniex crypto exchange has a transparent fee structure. The trading fees are average and depend on the trading volume. The standard maker fee is 0.08%, while the taker fee is 0.20%. Traders with a 30-day trading volume receive a 0.00% maker fee and a 0.10% taker fee.

Regulation & Reputation

Poloniex does not have a license from a regulatory body. Our Poloniex review shows it offers trustworthy security measures, including:

Two-factor authentication
Email confirmation
DoS attack protection
Cryptographic signatures
Cold storage wallets
Biometric recognition

Account Opening

Account opening at Poloniex exchange is straightforward. Users sign up on Poloniex’s website and fill in personal information to activate accounts. Verifying your identity is mandatory before using your Poloniex account. Poloniex doesn’t let traders trade with a basic account without verification. Our Poloniex review shows the verification process is fast and beginner-friendly.

Customer Support

The Poloniex exchange platform has email support with an average response time. The main website provides access to support FAQs. Poloniex doesn’t offer live chat or phone support. The customer support at Poloniex is reliable and easy to reach.

Summary

The Poloniex Exchange is popular because of its premium security. It is a top choice to invest in Ripple and other popular crypto assets. We recommend it for traders at all levels, as it offers useful learning tools.

FAQ

What Is A Centralized Cryptocurrency Exchange?

A centralized exchange is a private company offering access to a trading platform. It lets users invest in digital coins. These crypto exchanges request registration, known as the Know Your Customer rule.

What Is A Decentralized Cryptocurrency Exchange?

A decentralized exchange refers to a provider with no central point of control. It functions as a server, but each computer within the network operates in distinct areas of the world. If one device malfunctions, it doesn’t interfere with the network’s activity. Decentralized exchanges do not follow the rules of a regulatory body. If you choose a decentralized exchange, you should learn more about the risks. Read our in-depth reviews to discover more about exchanges and safety.

Does the Poloniex Exchange Offer A Digital Wallet?

No. Polonies doesn’t have a proprietary digital wallet. If you want to protect your funds, you should use a trustworthy wallet. Traders use different exchanges and wallets to create a versatile portfolio. Our in-depth reviews offer more information on digital wallets.

Can Traders List Coins On Poloniex?

Yes. Poloniex allows verified accounts to list coins.

Disclaimer

Braden Chase

Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

Poloniex Review