Pros
Cons
Quick Summary
| Headquarters Location | Boston, Massachusetts, USA |
|---|---|
| Fiat Currencies Supported (through third party apps) | USD, AUD, GBP, CAD, EUR, NZD + 86 others |
| Total Supported Cryptocurrencies | 586+ |
| Trading Fees | 0.09% - 0.12% |
| Deposit Methods | Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Apple Pay, Google Pay, Mercuryo, Simplex |
| Support | Twitter, Help Center Articles, Support Ticket |
| Mobile App | Yes - iOS, Android |
Poloniex has made quite an impressionful mark in the cryptocurrency trading space over time. Offering services to both novice and veteran traders alike, this platform has left its mark on crypto trading landscape.
We explore various aspects of Poloniex in this review, focusing on its offerings, user interface, and support systems without getting too deep into security and compliance matters just yet.
Poloniex has quickly established itself as an iconic figure in cryptocurrency trading, providing comprehensive services tailored to suit a range of users and their individual needs. Since its inception, it has seen remarkable transformation as it continuously adapts to meet the evolving needs of cryptocurrency enthusiasts.
Poloniex has strived to foster inclusive growth by creating an environment that facilitates both novice and expert traders alike. This expanded introduction builds upon Poloniex’s identity by illuminating its progress within its wider context of operation.
About Poloniex
Poloniex began life as a startup from the Czech Republic but has quickly grown into one of the leading cryptocurrency exchanges globally. Over its existence, this platform has expanded services, catering to an ever-increasing user base interested in digital asset exchange.
Poloniex’s history is marked by steady expansion and technological innovations that make it more than a mere platform for trading digital assets – it provides crypto enthusiasts an engaging environment to explore a vast selection of digital coins.
Poloniex stands as a testament to the dynamic cryptocurrency industry, reflecting both innovation and expansion within an evolving market. From its roots in Czech Republic to global expansion and innovation in subsequent markets.
As digital currencies became a global sensation, Poloniex emerged to provide investors with access to genuine investment opportunities. Poloniex’s agility and foresight has helped shape the landscape of digital asset exchange; their experience navigating market fluctuations and technological shifts to serve an ever-expanding user base has played a critical role.
Poloniex has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Reddit and Telegram.
Poloniex has a mobile app on both the Apple App Store and Google Play.
Poloniex Supported Cryptocurrencies
Poloniex supports trading on over 586 cryptocurrencies on their platform. This exchange currently supports 25 of the top 30 market cap cryptocurrencies.
View all cryptocurrencies Poloniex supports
- AAVE
- AC
- ACE
- ACM
- ACRIA
- ADA
- AEVO
- AFC
- AGI
- AGIX
- AGLD
- AI
- AI1
- AIDOGE
- AIMBOT
- AITECH
- AKITA
- AKRO
- ALI
- ALICE
- ALPACA
- ALPHA
- ALT
- ALU
- ALVA
- AMC
- AMO
- AMP
- ANALOS
- APE
- API3
- APT
- APU
- APX
- ARB
- ARDR
- ARG
- ASR
- ATLAS
- ATM
- ATOM
- AUDIO
- AVA
- AVAX
- AXS
- BABYDOGE
- BABYPEPE
- BAD
- BADGER
- BAKE
- BAL
- BAM
- BANANA
- BAND
- BAR
- BAT
- BCH
- BCHSV
- BEN
- BENDOG
- BENJI
- BFIC
- BFICGOLD
- BFT
- BIBI
- BICO
- BIF
- BIG
- BIGTIME
- BIT
- BITCI
- BLERF
- BLOX
- BLUR
- BLY
- BNB
- BNX
- BOB
- BOBA
- BOBO
- BODEN
- BOME
- BOND
- BONE
- BONK
- BOZO
- BPD
- BRETT
- BRISE
- BRIUN
- BSHIB
- BSSB1
- BSWAP
- BTC
- BTC2
- BTP
- BTRST
- BTS
- BTT
- BUB
- BURGER
- BVM
- BYTE
- C98
- CAF
- CAKE
- CAPO
- CARMIN
- CATS
- CAW
- CEL
- CGPT
- CHAD
- CHINU
- CHOW
- CHR
- CHZ
- CITY
- CLV
- COCO
- COLLAB
- COM
- COME
- COMP
- COQ
- CORE
- COREUM
- CRE
- CRV
- CSAS
- CSWAP
- CTSI
- CUDOS
- CULT
- CVC
- CVP
- CVT
- CVX
- CWIF
- DAI
- DASH
- DAW
- DAWN
- DCR
- DEAI
- DEGEN
- DIA
- DOBO
- DOG
- DOGE
- DOGE2
- DONS
- DORKL
- DOS
- DOT
- DOVI
- DUMMY
- DUSK
- DYDX
- EFI
- EGG
- ELON
- ENA
- ENJ
- ENS
- EOS
- ERN
- ESD
- ETC
- ETF
- ETH
- ETHFI
- ETHW
- FACTR
- FARM
- FCT2
- FENTANYL
- FERC
- FET
- FIDA
- FINK
- FIRE
- FLIP
- FLOKI
- FLR
- FOMO
- FOOM
- FORK
- FOUR
- FRAX
- FRONT
- FTM
- FTN
- FTT
- FUMO
- FUND
- FXS
- GAL
- GALA
- GAS
- GDX
- GEC
- GENESIS
- GFT
- GHST
- GLM
- GME
- GMEE
- GMMT
- GMT
- GMX
- GNS
- GOLD1
- GPT
- GPU
- GRIMACE
- GROK
- GRT
- GTAI
- GTC
- GUAC
- HAM
- HAMS
- HARRY
- HASHAI
- HAY
- HEMULE
- HEX
- HFT
- HIFI
- HIGH
- HNT
- HOBBES
- HONK
- HOPPY
- HT
- HTX
- HUNT
- ICENETWORK
- ICP
- ID
- IDK
- IGU
- IMGNAI
- IMX
- INJ
- INS
- INU
- IOT
- IXS
- JARED
- JESUS
- JST
- JTO
- JUP
- JUV
- KAS
- KCS
- KDOE
- KEKEC
- KERMIT
- KING
- KLIMA
- KLV
- KNC
- KON
- KSM
- KUB
- L
- LADYS
- LAZIO
- LBR
- LDO
- LIME
- LIMO
- LINK
- LIVE
- LMWR
- LOKA
- LOOKS
- LOVESNOOPY
- LPT
- LQTY
- LRC
- LSK
- LTC
- LUNA
- LUNC
- LVL
- LZM
- MANA
- MASK
- MATIC
- MAV
- MAVIA
- MDT
- MEMEME
- METIS
- MEW
- MKR
- ML
- MLN
- MMSS
- MMT
- MND
- MNDE
- MOBILE
- MOBY
- MOG
- MOGGO
- MONG
- MOROS
- MOZ
- MPWR
- MUBI
- MUMU
- MUTE
- MVL
- MYRA
- MYRO
- NADA
- NAKA
- NAO
- NAVX
- NEAR
- NEO
- NEURA
- NEVER
- NEXO
- NFP
- NFT
- NGL
- NLC
- NMR
- NOCHILL
- NONE
- NVIR
- NYM
- OCEAN
- OG
- OGGY
- OGN
- OKB
- OM
- OMG
- ONDO
- OOKI
- OP
- OPSEC
- ORDI
- ORDS
- OSMO
- OX
- PAAL
- PANDA
- PAPI
- PAW
- PC
- PEAS
- PENDLE
- PENG
- PEOPLE
- PEPE
- PEPE2
- PEPEAI
- PERL
- PERP
- PIXEL
- PLANET
- PMG
- PNDC
- POGAI
- POLIS
- POLS
- POLY
- POLYDOGE
- PONKE
- POOH
- POOLX
- POP
- POPCAT
- POR
- PORK
- PORTAL
- PORTO
- PRIME
- PRISMA
- PRQ
- PSG
- PSI
- PUNDU
- PYR
- QTUM
- QUICK
- RACA
- RARI
- RATS
- RAY
- RBN
- RDEX
- RDNT
- REEF
- REKT
- REN
- REX
- RFD
- RFR
- RIBBIT
- RIF
- RING
- RIO
- RLB
- RMV
- RNDR
- ROCK
- ROOK
- ROOST
- ROUP
- RPL
- RSR
- RSTK
- RUG
- RUNE
- RXT
- SAFEMOON
- SAFEREUM
- SAITAMA
- SAMO
- SAND
- SANTOS
- SATS
- SAVM
- SC
- SCA
- SCALE
- SDAO
- SENSO
- SFARM
- SG
- SHARES
- SHDW1
- SHEPE
- SHIB
- SHIB2
- SHIB42069
- SHIV
- SHROOM
- SILLY
- SIMPSON
- SIX
- SLERF
- SLP
- SMILEY
- SMOLE
- SMURFCAT
- SNX
- SOL
- SOLO
- SORA
- SOS
- SOV
- SPCT
- SPELL
- SPONGE
- SPURDO
- SRM
- SSV
- STEEM
- STG
- STMX
- STORJ
- STOS
- STPT
- STRK
- STT
- STX
- SUDO
- SUI
- SUN
- SUPER
- SUSHI
- SWAP
- SWFTC
- SWINGBY
- SXP
- SYNC
- T
- TBANK
- TEST
- TIP
- TITAN
- TITTY
- TLM
- TNSR
- TOKAMAK
- TOKE
- TOMI
- TON
- TORN
- TOSHI
- TPU
- TRAC
- TRB
- TREMP
- TROLL
- TRR
- TRU
- TRUMP
- TRX
- TSUKA
- TURBO
- TURT
- TUSD
- TYBG
- TYT
- UMA
- UMEE
- UNI
- UNIBOT
- UPDOG
- UPP
- USDD
- USDJ
- USDT
- USEDCAR
- USH
- UT
- VAULT
- VEC
- VELO
- VENOM
- VEXT
- VGX
- VINU
- VMPX
- VOLT
- VOW
- VRA
- WBTC
- WEB
- WEN
- WEWE
- WFAI
- WHALES
- WIF
- WIFI
- WIN
- WINR
- WLD
- WNCG
- WNXM
- WOJAK
- WOO
- WPEPE
- WRX
- WSB
- WSTREETBABY
- WSTUSDT
- WYNN
- X
- XCAD
- XCN
- XEC
- XEM
- XEN
- XMR
- XPE
- XPET
- XRP
- XRP8
- XTOKEN
- XTZ
- XVS
- XYM
- YAI
- YES
- YFI
- YFII
- YGG
- ZBCN
- ZEC
- ZELIX
- ZERO
- ZETA
- ZKF
- ZRX
Trading Experience
Poloniex provides a user-friendly platform, catering to traders with various experience levels and trading profiles. From its intuitive user interface to a range of trading features such as margin trading and futures trading, the exchange accommodates cryptocurrency community effectively.
Its design allows for both quick and complex trading operations, making it suitable for cryptocurrency enthusiasts of all stripes.
Poloniex stands out in an increasingly competitive environment of cryptocurrency exchanges by providing users with an easy trading experience tailored to support all experience levels – from simple spot trading through perpetual swap contracts and futures trading.
Access to margin trading further enhances its appeal for those looking to leverage their positions. Such variety ensures that newcomers as well as veteran traders find an environment suitable for them that supports their trading level and preferences.
Poloniex Fees
Poloniex’s fee structure has been developed to address a diverse selection of trading activities without overburdening users. Utilizing a tiered approach, costs associated with transactions may differ based on factors like trading volume or market dynamics.
As there are no specific figures here, we can focus on the fact that this platform strives to offer competitive fees that aim to be among the lowest in their industry.
Poloniex’s fee structure demonstrates an understanding of the various economic activities that comprise crypto trading ecosystem. With an accommodating model designed to accommodate users regardless of trading volume, Poloniex provides an equitable environment for all participants involved in its platform.
This approach to transaction costs speaks to a broader philosophy within the exchange, one which prioritizes accessibility and fairness. Although specific fees have not been set, the overarching goal remains manageable fees to allow users to maximize engagement across a variety of trading options.
| Type | Fee |
|---|---|
| Deposit Fee (Bank Transfer) | 3.95% |
| Deposit Fee (Credit/Debit Card) | 3.50% - 5% |
| Trading Fee | 0.09% - 0.12% |
| Withdrawal Fee (Bank Transfer) | 1% |
Poloniex supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0005 BTC. The average across all other exchanges that we've reviewed is 0.000520 BTC. This means Poloniex charges below the industry average by 3.79%.
Poloniex has a maker/taker fee schedule which you can see below.
|
Level
|
30-Day Spot Trading Volume
|
30-Day Futures Trading Volume
|
Total Balance
|
TRX Balance
|
Maker/Taker
|
Maker/Taker (Pay with TRX)
|
|---|---|---|---|---|---|---|
| VIP 0 | $0 | $0 | $0 | $0 |
0.2000%/0.2000%
|
0.1400%/0.1400%
|
| VIP 1 | $10,000 | $100,000 | $2,000 | $100 |
0.1150%/0.1250%
|
0.0805%/0.0875%
|
| VIP 2 | $80,000 | $2,000,000 | $4,000 | $10,000 |
0.1050%/0.1200%
|
0.0735%/0.0840%
|
| VIP 3 | $500,000 | $5,000,000 | $10,000 | $50,000 |
0.1000%/0.1200%
|
0.0700%/0.0840%
|
| VIP 4 | $1,000,000 | $10,000,000 | $200,000 | $100,000 |
0.0900%/0.1200%
|
0.0630%/0.0840%
|
| VIP 5 | $2,000,000 | $20,000,000 | $400,000 | $500,000 |
0.0700%/0.1150%
|
0.0490%/0.0805%
|
| VIP 6 | $5,000,000 | $50,000,000 | $1,000,000 | $1,000,000 |
0.0600%/0.1150%
|
0.0420%/0.0805%
|
| VIP 7 | $10,000,000 | $100,000,000 | $8,000,000 | $100,000,000 |
0.0500%/0.1100%
|
0.0350%/0.0770%
|
| VIP 8 | $20,000,000 | $500,000,000 | $16,000,000 | $200,000,000 |
0.0000%/0.1000%
|
0.0000%/0.0700%
|
| VIP 9 | $50,000,000 | $1,000,000,000 | $30,000,000 | $400,000,000 |
-0.0050%/0.1000%
|
-0.0050%/0.0700%
|
Security - Is Poloniex Safe?
As Poloniex takes security seriously, its regulator and safekeeping protocols are evident. Poloniex employs a strong security framework that utilizes measures such as cold storage for funds and an extensive verification process to protect users’ interests.
These features demonstrate the exchange’s dedication to providing a secure environment for trading and transactions.
Poloniex stands out in an industry often scrutinized for its security practices as one of those committed to robust defense measures against potential threats. They have built up a formidable defence that provides ample protection.
Poloniex has taken proactive steps to secure its user base by adopting a multilayered security protocol that includes measures such as withdrawal authorization via email confirmation and monitoring IP address activity, among others. These efforts not only assure users of the security of their digital assets but also establish Poloniex as a trustworthy platform among a myriad of options in the crypto market.
Poloniex Customer Support
Poloniex stands out as an industry leader when it comes to customer support, with services including email tickets and an exhaustive FAQ section that provide users with responsive, helpful assistance.
Customer service excellence is of utmost importance in an industry where timely assistance can be the difference between an enjoyable trading experience and one which goes wrong.
Poloniex prides itself on providing outstanding customer support services, with a dedicated team available via email tickets for any customer inquiries or assistance needs. By guaranteeing timely and precise assistance to users, this exchange ensures they get timely help they can rely on.
Understanding the importance of fast support when trading decisions require them, Poloniex has invested in an infrastructure which ensures outstanding services. Customer support plays a pivotal role in fortifying trust between users and an exchange, especially when it comes to handling money in such volatile markets.
Poloniex Support Channels
How to Sign Up on Poloniex
- Create Account - Visit the Poloniex website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you can deposit using the methods listed below. Note that this exchange only supports depositing fiat currencies through third party apps it supports.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
Poloniex Alternatives
Binance
Total Supported Cryptocurrencies
386+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Kraken
Total Supported Cryptocurrencies
244+
Trading Fees
0.08% - 0.40%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other
OKX
Total Supported Cryptocurrencies
320+
Trading Fees
0.08% - 0.10%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others
Final Thoughts
Poloniex stands out among cryptocurrency exchanges by offering an unparalleled trading experience that matches up with market expectations. Boasting seamless trade execution coupled with robust options to engage the market, Poloniex should receive serious consideration by anyone involved with cryptocurrency trading.
For comparison purposes, check out our articles comparing Poloniex against Binance and Kraken exchanges.
Poloniex FAQs
Poloniex is a cryptocurrency exchange that has been operating since 2014. Like any online platform, its safety can largely depend on the security measures it takes and the operational practices it follows.
Users should always exercise caution and utilize all available security features such as two-factor authentication. Additionally, it’s important to stay informed on the exchange’s operational status and any changes in regulatory compliance.
As of writing this, there was no official announcement from Poloniex regarding a complete shutdown. However, it’s essential for users to keep up to date with official communications from Poloniex for the latest information.
To cash out from Poloniex, you would typically need to make a withdrawal to a wallet or bank account. This involves selling your cryptocurrency for a fiat currency if available on the platform, and then withdrawing the fiat currency to your bank account.
Be sure to verify the current procedures on Poloniex’s support or FAQ pages as processes may vary or change over time.
Poloniex was originally based in the United States. However, in 2019, the exchange spun out from its previous owner, Circle, and is now operated by Polo Digital Assets, Ltd., which has ties to an international group of investors.
Users should refer to the official Poloniex website for current information on the location of its operations and legal jurisdiction.
The withdrawal fees on Poloniex can vary and are subject to change. It’s best to check Poloniex’s official website or fee schedule for the most current information on withdrawal fees for Bitcoin (BTC) and other cryptocurrencies.
Poloniex typically charges trading fees as well as withdrawal fees. The trading fees can be based on a maker-taker model and may vary depending on your trade volume.
Withdrawal fees depend on the specific cryptocurrency you wish to withdraw. For up-to-date details on the fees, users should consult the fee schedule available on the Poloniex website.
Poloniex experienced a security breach in March 2014. The incident led to a loss of 12.3% of its total bitcoins.
Since then, the exchange has reported improvements in security measures. Users should review the current security practices of the exchange and consider their personal risk tolerance when using any online platform.
As of writing this, Poloniex is not closed and continues to operate as a cryptocurrency exchange. Nevertheless, users should always verify the current status directly through official Poloniex channels.
Poloniex User Reviews
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Methodology
At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.
About The Authors
James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.
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His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.
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