Volume 24H: $14,026,719
Poloniex is one of the largest digital asset exchange platforms. Based in the United States, Poloniex directs its services mostly to professional traders. The platform supports only crypto-to-crypto trading pairs and advanced features like margin trading. Poloniex moves tens of millions of dollars daily on their exchange platform with an average of 25,000 users trading online daily.
This platform is best suited to daily traders and experienced users who know basic stock-exchange trading principles. The platform's trading view is complex, with a lot of cryptocurrency trading pairs to choose from. Carrying out a transaction requires liquidity in your digital wallets, which can only be topped up with cryptocurrencies.
Crypto Currencies Support
- European Union
- Hong Kong
- Most Africa
- Most of Asia
- Most of Eastern European Union
- Most of Latin America
- Most of the Middle East
- New Zealand
- Russian Federation
- United Kingdom of Great Britain and Northern Ireland
- US partial
- Web Interface
- Allows High frequencey trading bot
Stock Market Options
- Allows customization of charts
- Allows Advanced and Basic option
- Allows customized alerts and notifications
- Limit Order
- Market Order
- Stop Order
The Big Traders:
- Reduced Maker fees
- Volume based discounts
- Peer to Peer margin trading
- Margin Trading 2.5x
Poloniex security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.
Advanced Security Features:
- Email reports of logins
- Monitor bahavior patterns for suspicious activity
- Limit amount of daily trades
- Email Notification of withdrawal
- Protection from DDoS attackes
- Regular Auditing Programs
- Regular data replication and backup
Legal Registration or Compliance:
- FinCen registration (US)
- KYC/AML Compliant
Poloniex Inc. is registered with the Financial Crimes Enforcement Network (FinCEN) as a money service business (MSB) in Delaware, USA. Although it is one of the most popular exchanges in the US, besides Kraken, there is little to no information about Poloniex's CEO and Founder, Tristan D'Agosta, nor about his whereabouts or previous experience.
Poloniex was compromised back in 2014 using a relatively simple attack vector of"simultaneous withdrawals", but customers were paid back in full, (and the loss was only about $50,000). Since Poloniex is the most widely-used cryptocurrency exchange in the world, any hack causing massive funds losses would be catastrophic for the cryptocurrency market worldwide.
Send/Receive Crypto, Deposit/Withdrawal Crypto Only
Poloniex users have the option of placing stop-limit orders, which are helpful for protecting profits or minimizing losses. Also, the platform offers margin trading. When users place a margin order, all of the money they used are borrowed from other users offering their funds as peer-to-peer loans. Poloniex offers only crypto-to-crypto trades, with a generous 100+ trade pairs available.
Some users complain about poor customer support or suspended accounts.