Poloniex Exchange in 2025: A Complete Review and Analysis

Poloniex Exchange Overview: A Complete Beginner's Guide

What is Poloniex?

Poloniex is an extensive cryptocurrency exchange that offers its own users and traders more than two hundred crypto assets for purchase and trading. Poloniex was formed in 2014, its founder was Tristan D\'Agosta. Since the stage of its formation, the market is rapidly adding new cryptocurrencies due to demand and opportunities.

Poloniex is open for the purpose of a wide component of the society, and also users from different countries have all chances to freely acquire access to its offers. The presence of different styles in the site makes it even easier for users from different countries to understand as well as work together with the functions they need.

The platform has earned fame for making its own services available to traders in every part of society, as well as guaranteeing the assistance of a significant number of numerical assets and starting one of the main providers according to their diversity.

Poloniex was the largest Ethereum exchange in the society according to the mediocre trading size in 2017 and also often entered the top ten cryptocurrency exchanges according to the single sales size. Today, the period of daily sales in this exchange is usually approximately 85 million dollars, and also it is among the top 20 best exchanges in the society according to the single trading volume.

Although the platform is based in the United States, it does not have any geographical restrictions. This is mainly due to the fact that the platform uses pure cryptocurrency and, as a result, it does not have to meet local banking and economic standards, as it does not use fiat currency.

This allowed it to work more easily than exchanges such as Bitfinex, which not so long ago closed its exchange for the purpose of customers from the United States, or fully regulated exchanges such as Coinbase, Gemini and also Kraken.

How registration on the exchange works

Before going to the official website of the Poloniex cryptocurrency exchange, look around and make sure that you are going to the right place. The thing is that scammers have made so many fake sites mimicking this exchange that there is a chance to make a mistake with both the address and the money.

Now let's move on to the registration procedure itself. To begin with, we create an account, the necessary button in the upper right corner of the site. Then we fill out a variety of information forms, specifying full name, country of residence, e-mail address and some complex password. Then we tick special boxes and agree to everything except marketing mailings. After that it is enough to click on the button “create an account” and follow the link in the mail to confirm your actions.

Mandatory verification

Let's say right away that verification on this exchange is an element of the mandatory program. No verification - no access to trading sessions on the exchange. If you want to trade a little, it is enough to verify for the first level. At this level you will be able to withdraw up to $50 thousand from the exchange account. The second level of verification increases the amount of withdrawal 20 times up to the coveted for many people amount of one million dollars. At this level you can practice margin trading.

How to pass verification? To do this, you need to enter your personal cabinet in the “my profile” tab and specify all your personal data. Then you need to upload scans of documents and a photo with the document in your hands.

After performing all necessary actions, it is necessary to put a checkmark in a special box and save the profile. As a rule, the exchange confirms the application for verification within a calendar day. It is important to know that the administration of the exchange constantly thinks about security and carefully monitors suspicious transactions. Some unconscious users may receive a warning about forced verification. In case of refusal, the account will be frozen.

Poloniex trading platform

Let's proceed to one of the most important data of each exchange. This is the trading platform and also the selection system.

Already after entering Poloniex you will be able to switch to three different tabs. The first one is “Exchange”, the second one is the “Margin Trading” platform and the third one is the lending platform. I'm taking a look at the exchange platform.

Our first impression of the Poloniex trading platform is that it is somewhat old, but functional. In fact, this is the most platform that was used by the exchange in the last few years. In this case it is absolutely user-friendly.

For example, you have the main plan in front of you. A little further on there are order figures, where you can instantly and productively place a large number of different orders. On the right side you have the possibility to switch bazaars and assets, which you want to trade.

Unfortunately, you will need to check the page to the bottom, if you want to familiarize yourself with the order book, previous orders and the depth of the trade. In this way, this is by no means the most efficient placement of the trading platform.

Charts

Traders who are considered industrial specialists and also find the most advanced trading devices, have all chances to be a little disappointed. The Poloniex chart set is very simple. You have only elementary pointers, such as moving ordinary as well as Bollinger Bands.

Similarly, in case charting is considered to be a significant part of your trading, then you should either analyze the possibility of ending charting with the support of external software or switch to another exchange, such as Kraken.

Order Types

Poloniex is somewhere in the center when it comes to order functionality. At them there are usual figures of orders in buy/sell, in which place you can pick up the cost or trade according to the bazaar. Of course, this will affect your commissions in accordance with the “maker-taker dynamics”.

But for such traders who would like to insure themselves with a stop-loss, Poloniex provides this as well. You will be able to determine the degree of stop-loss, which will automatically implement your order as soon as the price falls to a certain level.

You will also be able to define a limit order that will fix the income as soon as the value reaches a certain level. These are necessary orders that have a chance to reduce your risk. I constantly advise to use these orders together with those traders who trade with a short-term horizon.

Poloniex trading commissions

Spot market

Base commissions on Poloniex spot market - maker 0.145%, taker 0.155%. There is a VIP-program of 6 levels. The higher the monthly trading volume, the lower the commission. You can also get discounts for placing TRX tokens on your account.

Borrowing fees (margin loan) depend on the specific cryptocurrency. Borrowing fees are charged every hour from the time a position is opened until the funds are returned.

Account Management

Poloniex users have all the chances to manage their accounts through the online dashboard and mobile add-ons. Together with the support of the dashboard you will be able to move according to the options as well as the main functions of Poloniex, including the trading platform, selling futures as well as financing.

Every person who has the skill to work together with stock brokers or online banking will be able to understand the Poloniex dashboard as well as add-ons in the absence of work.

Customer Service

Poloniex provides customer assistance mainly through an email account. Users can send a basic communicative configuration in order to open a ticket to the help desk. The market also provides a support area in which solutions to often predetermined problems are found.

According to a huge component Poloniex is a self-service platform, in which place you have to worry about your own service. In case you are not comfortable finding solutions to support tasks, you can choose an exchange that offers more abilities to help buyers.

Customer Satisfaction

Despite the fact that Poloniex gets low scores from reviewers, it should be emphasized that poor customer support is an industry-wide issue. In case your result is hacked or you simply send cryptocurrency in no way according to the address, you are unlikely to return their own resources, regardless of the exchange.

Affiliate and referral program

Poloniex exchange offers an affiliate program with referral links. A new client who came through a referral link will bring his referral income in the form of 20% of commissions. A newcomer will also be rewarded with 10% of his trading commissions. The program is valid for 180 days or until the moment when the client's account will have $5 thousand.

Good and Bad

Poloniex is an ordinary exchange. They produce a number of key items really well, however are in no way emphasized in any way special, something worth noting. In spite of the significant situation of protection and also several years of existence, the number of customer service claims that have acted in the exchange for numerous years has really damaged its reputation.

In the final period Poloniex found itself in the middle of interest in no way according to its own freedom. The above-mentioned flash crash, as a consequence of which CLAM traders died, was considered by almost everyone as irresponsible, as the market gave an opportunity to prolong the sale together with plastic leverage in a very illiquid asset.

In such a case, the reduction of the user base of Poloniex has led to this, that it has descended in the ranking of exchanges CoinMarketCap according to the adjusted size to a mark below 70. Exchanges, which once existed as its analogs, rise all without exception earlier, in this case, the period as well as the exchanges that appeared in the light show significant stability and also the ability to interest participants.

Poloniex simply does not understand who exactly it wants to see as its own society. Modern traders? What is the letter, then it will need to improve its own trading functions, which are not enough now? Beginners? There is no ability to directly exchange fiat into cryptocurrency, and the KYC registration procedure is distracting. With such, who exactly located in the center, or rather in general, there is already an exchange, which they often come to, and also, since in Poloniex there is exactly nothing particularly good, with them simply no reason to move there.

Poloniex deposit and Withdrawal Methods

Poloniex functions as a cryptocurrency exchange, which means that all operations and transactions must be made in numerical currencies. Such a structure will require that users fill the result and input resources only in cryptocurrencies. The platform is easy to navigate, and in the page “Deposit and conclusion of funds” unique addresses of wallets for the purpose of any cryptocurrency are shown, which simplifies the introduction of money. When depositing money, customers simply need to enter the location of the external wallet.

Although Poloniex in no way holds direct fiat deposits, it does provide an alternative for users seeking to obtain cryptocurrencies. Due to integration with Simplex, a cryptocurrency payment processor, visitors can purchase bitcoin and other fiat currencies using their own plastic or debit card game. This association allows you to make purchases in the required amount of 50 to 20,000 U.S. dollars per period, and the monthly limit is up to 50,000 U.S. dollars.

It is important to understand that Simplex charges a commission for its own service, which is either 10 USD or 3.5% of the total amount of the transaction, in this regard, which is more. Such a composition of the commission is able to influence the total purchase price of cryptocurrencies in the platform.

Poloniex is popular for its successful processing of both deposits and withdrawals, allowing users access to their own funds without long delays. The optimal aspect of the platform can help improve the commercial skills of beginners as well as experienced traders, as emphasized in this Poloniex review.

Users should keep in mind that Poloniex charges a withdrawal fee, which depends on the specific cryptocurrency being withdrawn. Such a composition of the commission is considered a significant condition that users must take into account the presence of planning their own trading activities in the platform.

Conclusion

Poloniex's strengths include a fairly complete set of trading instruments - there is a spot market with margin trading, a futures market with perpetual contracts. At the same time, there are no futures contracts and options, perpetual contracts are quoted only in USDT. The exchange also has rather “soft” KYC requirements. Weaknesses - there is no P2P trading, liquidity for some instruments “drops” relative to larger exchanges (Binance, Bybit, OKX).

FAQ

Can we trust Poloniex?

Yes, Poloniex is a legitimate and solid cryptocurrency market. I note that in 2014. Poloniex was once opened, which determined the danger of the resources of numerous users. But together with such times this is one of the most non-threatening platforms, as well as there were no more notifications regarding hacks or compromise of the platform.

How long does it take to deposit funds with Poloniex?

As a rule, the conclusion of money with Poloniex takes about 4 hours, but this has all chances to influence market conditions, the volume of requests and other conditions. The platform also advises users to wait at least 12 hours, primarily in comparison to opening a ticket.

Does Poloniex work in the USA?

Unfortunately, North American users are in no way allowed to open an immense amount in Poloniex or realize any type of economic work. If you live in the United States, you can look at these best cryptocurrency exchanges, which you can use in the absence of restrictions.