Poloniex

Poloniex is not the largest, but one of the most famous cryptocurrency exchanges. Many cryptocurrency traders started their way in trading with it. The Poloniex Exchange started operations in 2014 and was registered as a financial institution in 2016. The company Poloniex is registered in the U.S. and operates in full compliance with U.S. laws. Users of the Poloniex exchange can trade in cryptocurrencies, including stablecoin USDC and USDT. Poloniex also offers margin trading, which is provided by other exchange traders. Users can earn money to lend to other users for margin trading. Poloniex supports more than a hundred cryptocurrencies and several hundred trading pairs. The trading platform has trading pairs with BTC, ETH, USDC, and USDT. The maximum margin trading ratio is 2.5 and is only available for the most liquid cryptocurrency pairs. For the safety of users, Poloniex recommends two-factor authentication. Poloniex concluded the hacking of the exchange that took place in 2014, and now keeps almost all of its funds on cold wallets that do not have access to the Internet. All users who suffered from the hacking of the exchange in 2014 received compensation for their losses. Poloniex supports three types of orders. These are Buy, Sell and Stop Limit orders for all trading pairs. To take full advantage of the opportunities provided by the Poloniex exchange, the user must be identified. There are only two levels of identification. At the first level, it is allowed to withdraw no more than $2000 per day in the equivalent of cryptocurrencies. Identification at the first level of the Poloniex exchange provides all users who have confirmed their email address. To get the identification of the user of the second level of the cryptocurrency exchange Poloniex asks to provide the address, phone number, and passport data. The passport data includes a photo of yourself with an open passport, passport number, a photo of the document where the person is visible. Identification of the user of the second level allows removing daily from the balance of the exchange up to $ 25 000 in the equivalent of cryptocurrencies. Thus, the Poloniex cryptocurrency exchange meets the requirements of KYC and AML, aimed at combating money laundering.