Poloniex is a US based cryptocurrency exchange emerged in January 2014. The company deals only in cryptocurrency services and guarantees a safe and steady trading to its clients. Another notable achievement of Poloniex is the way it made its name for liquidity. It records the largest global exchange volume in most online markets.
Pros
1. High liquidity
2. Advanced and unique features
3. Simple user interface
Cons
1. Not licensed in the US
2. Owners are anonymous Poloniex Services Poloniex offers various services in cryptocurrency trading.
There’s more than 140 markets for Bitcoin and Monero. Apart from exchange services, the company also renders margin trading and margin lending. At last, you can even borrow money for margin trading.
This money comes from the margin lenders. Poloniex top features There are more than one amazing features of the Poloniex that make it a wise choice.
Although the company allows deposits and withdrawals of cryptocurrencies only, it covers more than a hundred of them. What’s more interesting is that the user interface of the exchange platform is highly user-friendly. Security features of Poloniex are another plus.
The company keeps a majority of funds in cold storage and also audits and inspects the whole exchange frequently for unusual activities. Poloniex also uses a 2-factor authentication for user accounts.
Unique Tools Some tools are being offered with Poloniex that are too unique. The company gives out stop-limit orders for lesser risk in trading. Next, an SMA and two EMA lines are always there for customizations. Candlesticks range from 5 minutes to 4 hours (5 min, 15 min, 30 min, 2 hrs, and 4hrs).
Users can access thoroughly zoomable charts for market history analysis. These advanced graphs and data analysis tools are the another uniqueness of Poloniex.
Poloniex Fees Since March 2016, Poloniex started following a volume-tiered, maker-taker fee schedule. So the fact is, what you pay depends totally on how much you trade. More is the trade; less is the payment to the company. For less than 600 BTC in last 30 days, Poloniex takes 0.15% maker or 0.25% taker fees.
With more trading, you can climb the ladder to reach a point where you merely pay 0.00% maker and 0.10% taker fees. This happens when you trade more than 24,000 BTC.
There are ten such price milestones with different numbers for users. The fee structure is worked out every 24 hours and depends on your tradings for the last 30 days.
Verdict Poloniex is apparently the most liquid online cryptocurrency exchange available today. The company became a more secure platform since some hackers stole 97 Bitcoins once.
Coming to the fees, Poloniex beats a lot of quality exchange services. There only catch with the company is that you cannot deposit or withdraw fiat currencies as that could be done only with cryptocurrencies. However, exchanges of fiat are allowed. Hence, Poloniex can be a great medium to deal with cryptocurrency services. It certainly tops the chart of companies in its league.
