Overview
Poloniex has established itself as a reliable cryptocurrency exchange since its inception in 2014. With a wide range of supported cryptocurrencies and advanced trading features, it caters to both beginners and experienced traders. This review delves into the platform's pros, cons, fees, security, and more to help you decide if Poloniex is the right exchange for you.
Key Highlights
- Supported Cryptocurrencies: 475+
- Trading Fees: -0.005% - 0.2%
- Security Measures: Cold storage, 2FA, encryption
- Advanced Features: Automated trading, NFT marketplace
Pros and Cons
Pros
- Wide range of cryptocurrencies available
- Advanced trading tools and features
- Decentralized exchange options via Poloni DEX
- Strong security protocols
Cons
- History of customer service complaints
- No fiat currency trading pairs
- Past security breaches
- Less user-friendly for beginners
Quick Facts
| Feature | Details |
|---|---|
| Headquarters | Boston, Massachusetts, USA |
| Supported Fiat Currencies | USD, AUD, GBP, CAD, EUR, NZD + 86 others (via third-party apps) |
| Supported Cryptocurrencies | 475+ |
| Trading Fees | -0.005% - 0.2% |
| Deposit Methods | Bank Transfer, Debit/Credit Card, Cryptocurrency, Apple Pay, Google Pay |
| Mobile App | Yes (iOS & Android) |
About Poloniex
Founded in 2014, Poloniex has evolved into a robust platform for cryptocurrency trading. Acquired by Circle in 2018, the exchange has continually improved its user interface and security measures. Today, it serves as a hub for crypto enthusiasts, offering tools for both novice and expert traders.
Social Media Presence
Poloniex maintains active profiles on:
👉 Download the Poloniex mobile app
Supported Cryptocurrencies
Poloniex supports 475+ cryptocurrencies, including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Solana (SOL)
- Cardano (ADA)
Note: The platform focuses solely on crypto-to-crypto trading, excluding fiat pairs. Users must convert funds into a cryptocurrency like USDT to trade altcoins.
👉 Explore Poloniex's full crypto list
Trading Experience
Trading Interface
Poloniex offers a user-friendly interface via:
- Web platform
- Mobile apps (iOS & Android)
Features include:
- Detailed charts with analytical tools
- Real-time order book updates
- High-rated mobile app
Spot Trading
Popular trading pairs:
- BTC/USDT
- ETH/USDT
- XRP/USDT
Fee Structure
Poloniex employs a volume-based fee schedule:
| VIP Level | 30-Day Volume | Maker/Taker Fee |
|--------------|------------------|---------------------|
| VIP 0 | $0 | 0.20%/0.20% |
| VIP 9 | $50M+ | -0.005%/0.10% |
Additional Fees:
- Bank transfer deposit: 3.95%
- Credit/debit card deposit: 3.5% - 5%
Security Measures
Poloniex prioritizes security with:
- Cold storage for funds
- Two-factor authentication (2FA)
- Whitelisting for withdrawals
Past Security Issues
The platform experienced a breach in 2014 but has since strengthened its defenses. Users are encouraged to enable all available security features.
Customer Support
Poloniex offers support via:
- Help Center articles
- Support tickets
Note: Reviews are mixed, with some users reporting delayed responses.
Advanced Features
Automated Trading
Poloniex supports bot trading for strategies like Grid and DCA.
NFT Marketplace
In partnership with APENFT, Poloniex provides an NFT marketplace for trading non-fungible tokens.
How to Sign Up
- Visit the Poloniex website
- Complete the registration form
- Verify your email
- Deposit funds via supported methods
- Start trading
Alternatives to Poloniex
| Exchange | Supported Cryptos | Trading Fees |
|-------------|----------------------|------------------|
| Binance | 418+ | 0.01% - 0.10% |
| Kraken | 436+ | 0.08% - 0.40% |
Final Thoughts
Poloniex remains a competitive option for crypto traders, offering a wide range of assets and advanced tools. However, users should weigh its past security issues and mixed customer reviews before committing.
FAQs
Is Poloniex safe?
Yes, but users should enable all security features like 2FA.
How do I withdraw funds?
Sell crypto for fiat (if available) and transfer to your bank account.
Does Poloniex support U.S. users?
No, Poloniex discontinued U.S. services in 2019.