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.
CEO, Founder