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Poloniex Review – Poloniex Referral Code & Signup Bonus

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Poloniex cryptocurrency exchange review

Poloniex in many ratings of cryptocurrencies takes 1st place in terms of trading volume. The poloniex.com domain appeared on December 10, 2014. Despite this, this site was able to compete with other platforms, which by this time had already offered to buy and sell cryptocurrency.
Among the main cryptocurrencies are Bitcoin (BTC); Ethereum (ETH); Monero (XMR); Litecoin (LTC); Ethereum Classic (ETC); Zcash (ZEC) and many others.

The Poloniex cryptocurrency exchange supports over 100 pairs.

Registration on the Poloniex exchange

Before starting to trade on the Polonix cryptocurrency exchange, the user must create an account. Registration takes place in several stages:

  • We fill out a standard questionnaire (name, surname, country, e-mail, and so on).
  • We confirm email.

After that, the user can go to his personal account, replenish the account and start trading on the exchange. However, it should be noted that unverified users have a daily withdrawal limit of $ 2,000. To increase this limit, you need to enter additional information:

  • Date of Birth;
  • mobile number;
  • the address;
  • passport data.

After that, the user must upload an image of documents that confirm personal information. We recommend that you enter only reliable data, otherwise you may experience problems with the withdrawal of funds.

Methods for depositing and withdrawing funds on the Poloniex exchange

The Poloniex exchange only supports English, so some users may have difficulties even at the stage of depositing funds to the site.

It should be noted that this site only works with cryptocurrencies and does not support popular payment systems. Therefore, to start trading on it, the user must already have bitcoin, ether, and so on. Deposits and withdrawals are available in the following cryptocurrencies:

  • Bitcoin;
  • Ethereum;
  • BitcoinDark;
  • Ethereum Classic;
  • Ripple and so on.

In order to replenish your wallet or withdraw money to Poloniex, you need to go to the “Deposits & Withdrawals” section, which is located in the “Balances” tab. After that, we select the appropriate cryptocurrency and the input or output action.

Exchange and trade cryptocurrency on the Poloniex exchange

The site has two main sections: Exchange and Margin trading. In the first case, we exchange crypto money at the expense of personal funds, and in the second, we trade on the exchange against a security of a certain amount. Thus, on the Polonix exchange, you can conclude transactions in the same way as on the Forex market. Below you can find the commission charged by the site.

Every 24 hours, the site automatically calculates the amount of commission for the user, taking into account the volume of trade over the last 30 days.

The user can get acquainted with the rate for a different period of time, the history of transactions, the highest and lowest cost of the cryptocurrency in the last 24 hours. This information allows you to more accurately predict the further movement of value on the Poloniex exchange.

Monthly trading volumes

The Poloniex exchange ranks first among competitors in terms of daily trading volume. Among the main cryptocurrency pairs are:

  • ETH / BTC – $ 45,375,500;
  • LTC / BTC – $ 26,429,200;
  • BTC / USDT – $ 24,971,300.

The total daily trading volume on Poloniex is 81,025 BTC.

Security

Polonix’s management takes the issue of security very seriously. Each registered user can improve the reliability of their account using two functions:

  • two-factor authorization;
  • API key.

For two-factor authentication, Poloniex uses an additional sign-in via Google. API key is a unique code that is generated for each account. These functions are optional, but desirable.

Advantages and disadvantages of working with the Poloniex exchange

Each platform has its own pros and cons, and the Poloniex exchange is no exception. Huge daily trading volumes indicate that this site is very popular among traders and investors.

Pros:

A large number of couples.

On this exchange, you can trade not only popular and well-established cryptocurrencies. Here are pairs that you won’t be able to find on many other competitors.

Margin trading.

Together with Polonix, you can start investing in cryptocurrency even if you have a small amount. Due to this, competent trading with an investment of even $ 100 will show tangible results.

Low commission.

The commission for operations can be brought up to almost 0.00%.

High level of security.

It is immediately noticeable that the developers deliberately took care of the high reliability of the accounts.

Cons:

Despite the fact that Poloniex occupies the first line in many ratings, this platform is not without its drawbacks.

The first drawback that users from the CIS will encounter is the presence of only the English version of the site. Because of this, difficulties can arise not only when working with the website, but also when communicating with the technical support of the exchange.

Withdrawal limits.

After registration, users can withdraw up to $ 2,000 per day. To increase the limits, you will have to go through additional verification.

Deposits and withdrawals only in cryptocurrency.

The site does not work with bank cards and popular payment systems. Thus, it is possible to replenish or withdraw funds only in cryptocurrency. Therefore, before starting to work with the exchange, the user will have to use the services of an exchanger or start mining.

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Written by Crypto Discounts

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