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Poloniex
Poloniex

Poloniex

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About Poloniex

Brief Overview

Poloniex stands as a centralized cryptocurrency exchange, providing infrastructure for the seamless buying, selling, and swapping of a diverse array of digital assets. Created in 2014, it has evolved into a prominent player in the crypto trading arena. It allows users to engage with an extensive selection of crypto assets and utilizes various advanced tools to enhance the overall user experience.

The Team Behind the Project

Poloniex made its debut in January 2014. In 2018, Circle Internet Financial Ltd successfully acquired Poloniex for an approximate sum of $400 million. Subsequently, in 2019, an investment group led by Justin Sun acquired the exchange from Circle.

Exchange’s Main Features

Poloniex offers a diverse selection of cryptocurrencies, featuring more than 350 digital assets and over 200 pairs, including traditional currencies. The exchange allows for various types of trading orders and provides tools for technical analysis and margin trading.

Countries with Limited Access

There are some geographical restrictions for some countries residents, including the United States, North Korea, Sudan, Syria, Cuba, and Iran.

Fees

The fee charged usually depends on the trading volume within the last 30 days, with traders engaging in higher volumes benefiting from reduced commissions. The fee incurred is determined by the trader's role in the market. Here is how it works:

  • A maker fee of 0.01% is applied when a maker submits a limit order that is not executed right away.
  • A taker fee of 0.075% is levied when a taker places an order that is promptly fulfilled, resulting in the closure of existing orders.

Fees are determined by the user's activity over the preceding 30 days, following a simple principle: the higher the trading volume, the lower the commission. This system aims to enable high-volume users to benefit from reduced commissions.

Additional features:

Certain transactions, such as deposits and cash-outs, may involve additional fees, the specific amount depends on the chosen payment method. It's crucial to understand that fees are subject to change periodically. Therefore, users are advised to stay informed by regularly checking for updates on the official exchange website.

Margin Trading

Users may take advantage of 2.5X leverage in margin trading. It helps traders increase their purchasing power and potential profits, however, taking a higher risk. The service offers a detailed guide and tools for margin trading. Poloniex Futures allows for a maximum of 100X leverage on all futures products.

Available Assets

The platform users have the opportunity to trade the most popular digital assets, for example, BTC, ETH, USDT, TRX, SOL, XLM, DOGE, and SHIB coins, as well as many other less popular tokens.

Tristan d'Orgeval 

CEO, Founder

Key data

data refreshed every 10 minutes$778.13M / 24h
Trading pairs512
Founded2014-01-07T00:00:00.000000Z
Market share2.2%of tracked exchanges volume

Poloniex is one of the longest-running centralized cryptocurrency exchanges (CEX) in the industry, founded in 2014. It offers spot trading across a broad range of digital assets and has historically been popular with altcoin traders. If you've just searched for Poloniex by name, this page covers the essentials: what the platform is, how it works, and what to keep in mind before using it.

Frequently asked questions

What is Poloniex?

Poloniex is a cryptocurrency exchange launched in 2014, making it one of the older platforms in the market. It provides spot trading in a wide selection of cryptocurrencies and has built a reputation around altcoin listings. The official website is https://poloniex.com.

Is Poloniex a centralized or decentralized exchange?

Poloniex is a centralized exchange (CEX). This means users deposit funds into accounts managed by the platform, and trading is handled by the exchange itself rather than through on-chain smart contracts. As with any CEX, users rely on the operator for custody and order matching.

When was Poloniex founded?

Poloniex was founded in 2014. It went through several ownership and operational changes over the years, including an acquisition and later a spin-off into an independent company. Despite ups and downs, it has remained active in the crypto trading space.

What should users pay attention to when using Poloniex?

Check whether the exchange is accessible and compliant in your jurisdiction, as availability varies by region. Review the fee structure, withdrawal limits, and verification (KYC) requirements before depositing funds. As with any centralized platform, consider the general risks of custodial trading and avoid keeping large balances on the exchange long-term.

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