Poloniex Review 2021: Security, Fees & Special Features

The web’s most detailed Poloniex review: Poloniex is that one cryptocurrency exchange we have heard about before, but what is it really about. This US crypto exchange doesn’t allow US traders to trade, however, it’s still a great platform. Keep reading to learn why it is as good as it is.

3.74/5
Trustworthy
Non-Regulated
United States flag
Poloniex
Founded August 2014
Owner Tristan D'Agosta
Type Cryptocurrency Exchange
Fees 0.125%
account minimum 50$
Best for All Traders

Why Poloniex

In this section of our Poloniex review we highlight 6 special features that deserves extra attention.

Increase the size of your positions and access more trading capital with margin orders. Be mindful of the risk.
Margin Trading
Increase the size of your positions and access more trading capital with margin orders. Be mindful of the risk.
Lend your cryptocurrencies to others and earn passive income by doing nothing. You are now the bank!
Lending
Lend your cryptocurrencies to others and earn passive income by doing nothing. You are now the bank!
Easiest and fastest way to buy cryptocurrency with fiat through card payments, bank transfers, or e-wallets.
Buy Cryptocurrency
Easiest and fastest way to buy cryptocurrency with fiat through card payments, bank transfers, or e-wallets.
Make money by providing liquidity to the order book. Market Makers profit from the bid-ask spread difference.
Market Making
Make money by providing liquidity to the order book. Market Makers profit from the bid-ask spread difference.
This status is earned only by the safest and most trusted trading platforms with a proven track record of being safe.
High Security
This status is earned only by the safest and most trusted trading platforms with a proven track record of being safe.
Keep track of which market is winning and which one is losing today. A good way for day traders to find volatility.
Daily Gainers & Losers
Keep track of which market is winning and which one is losing today. A good way for day traders to find volatility.

About Poloniex

Poloniex is a US-based cryptocurrency exchange that doesn’t allow US traders on the platform. However, most other regions are welcome to trade. The founder of the exchange is a man called Tristan D’Agosta and the main office is registered at this address Wilmington, DE, 1013 Centre Road, United States.

The exchange was founded back in 2014 which gives it the Tradingbrowser veteran trading platform. This is a good sign of credibility and trustworthiness. Poloniex is the host of over 100 altcoins, making it very popular among traders looking for new hidden gems in the cryptocurrency markets.

Why use Poloniex

Poloniex is a cryptocurrency exchange for all traders and is well suited for both experienced traders and newcomers. The main feature of Poloniex is the margin trading section and it’s had a good reputation for being very solid. Other areas that stick out on the exchange are the lending platform, the futures pit, and of course, the latest ICO’s that you can participate in.

Traders who are looking for a stable exchange with a long track record and good platform features will thrive on Poloniex. There is an on-ramp for fiat currencies, making it easy for you to buy a cryptocurrency and then start trading. There is also a section for different campaigns on Poloniex. Here they announce different airdrops, giveaways, different bonuses, and trading campaigns.

Trading on Poloniex

The interface is built on Tradingview charts and technology which guarantees a rock-solid base for your day trading or investing approach. Poloniex offers 100x leverage on certain contracts but bear in mind the risks of this style of trading. Only experienced traders should use high crypto leverage in trading.

There is no real stop loss in terms of order selection, so if you want to protect your downside risk, you need to know how to assemble a stop order manually. One great tool on the Poloniex platform is the daily gainers and losers tool. This will show you the biggest risers and the biggest losers of the day and it’s a great tool to track volatility. Whenever there are big swings in the market, day traders will typically do better.

Payment methods and limits

Poloniex supports these deposit methods:

  • VISA
  • Mastercard
  • ApplePay
  • Bank Transfer

The minimum deposit is $50, the minimum withdrawal is very very low and the maximum withdrawal is $500,000 per day.

Things we don’t like

Considering this is an exchange with a long track record, I would like to see functioning live chat and some more supported languages to reach a wider audience. They call themselves the legendary exchange, but for me, no live chat is not legendary.

Trading Fees

Products
Maker fee
Taker fee
Cryptocurrency
0.125 %
0.125 %
Futures
0.01 %
0.075 %
ICO
$0
$0

Products

Cryptocurrency
Cryptocurrency
Futures
Futures
ICO
ICO

Trading Platforms

Tradingview
Tradingview
Webtrader
Webtrader
Mobile App Android + Mac
Mobile App Android + Mac
Own trading platform Windows + Mac
Own trading platform Windows + Mac

Order Types

MO - Market Order
LO - Limit Order
GTC - Good till Cancelled
IOC - Immidiate or Cancel
PO - Post Only
HO - Hidden Order
RO - Reduce Only
SO - Stop Order

Devices

Desktop
Desktop
Smartphone
Smartphone
Tablet
Tablet
Web
Web

Special Features

Altcoins
Technical Indicators
Quick Registration
Instant Deposits
Promotions
Security Of Funds
2FA Verification
Fast Withdrawals
Cryptocurrency Wallet
Staking
Advanced Trading Tools
High Limits
Advanced Charting
KYC
Beginner Friendly
Short Selling
Veteran Trading Platform
Advanced Trading Platform
One Click Trading
Trading App
Leverage Trading
Institutional Trading

About the special features on Poloniex

The main special features on Poloniex are definitely the margin trading platform, the cryptocurrency futures pit, cryptocurrency lending, and the fiat on-ramp where you can buy cryptocurrency with a credit card, bank transfer, or with ApplePay. What makes this exchange special is that it’s been around since 2014 which is a very long time considering the blockchain technology hasn’t been around for more than 10 years.

You can also join in on the ICO listings where you can invest in new cryptocurrencies that come on the market through Poloniex. This is an excellent tool for crypto investors looking for new projects and hidden cheap crypto gems. The 24hour gainers and losers tool on the front page will give day traders a great head start on the day with direct indications of where the volatility can be found.

Cryptocurrency Lending

Crypto lending is something rather new and Poloniex is the host of a very good digital asset lending platform. The lending tool on Poloniex is a third-party crypto lending system where you actively lend to other investors on the platform. Keep in mind that significant gains, as well as losses, can occur and you should read up on how to do it before you start. However, if you are a good crypto lender you can make some serious passive income.

Cryptocurrency Staking

Crypto staking on Poloniex is very popular thanks to no lock-up periods of your funds, freedom to deposit, trade, and withdraw at any time you want. The returns are also very generous and the one big difference when staking cryptocurrencies on this platform is that there is no validator to send your funds to. Once you are staking you can pretty much move around your capital as you want and you will earn on your staking up to the moment you decide to change coins or withdraw the money.

JustSwap

JustSwap is a Tron-based decentralized trading protocol that instantly lets you transact with all TRC20 tokens on the system. JustSwap can be used to earn trading fees by being a liquidity provider to the system. All you need to do is to connect your TronLink wallet to JustSwap and then you are good to go.

Insurance Fund

This is a great security feature that Polniex is employing to ensure that customer funds are backup all the time. This balance can be seen live on the exchange it is mainly used to give back to traders in case of the worst-case scenario where customer funds are lost or stolen.

Funding

Visa
Visa
Mastercard
Mastercard
Apple Pay
Apple Pay
Bank transfer
Bank transfer

Accepted Currencies

USD ($)
CNY (¥)
RUB (₽)
EUR (€)
JPY (¥)
KRW (₩)

Limits

Max Withdrawal Limits
$500000 daily
Min Withdrawal Limits
No limit
Min Deposit Limits
$50

Languages

United Kingdom
English
China
Mandarin (Chinese)
Russian Federation
Russian
Vietnam
Vietnamese
Turkey
Turkish

Restricted Countries

Cuba
Iran, Islamic Republic of
Korea, Democratic People"s Republic of
Seychelles
Sudan
Syrian Arab Republic
United States
United States Minor Outlying Islands

Security

Is Poloniex Safe?

Poloniex is considered a safe exchange to use. Thanks to the Insurance Fund, traders can rest assured that they will have their funds recovered if the worst-case scenario were to happen. However, this is a non-regulated cryptocurrency exchange in the US and you should not keep large amounts of coins stored on the platform. Only store the amount you are going to trade.

Is Poloniex Regulated?

No, Poloniex is a non-regulated crypto exchange.

Support

Contact Form
Contact Form

Frequently asked questions

Read the most frequently asked questions about Poloniex. Find answers without searching the web.

No, Poloniex stopped accepting US traders a while back but is looking to open up again. When this happens we will update this review.

Yes, there is a good variety of special features that will keep any trader busy. Also, the trading interface is the latest standard with Tradingview charting packages. Fees are on the lower spectrum which is great for very active day traders or traders who move a lot of sizes.

Yes, the address is registered at Wilmington, DE, 1013 Centre Road, United States.

It is very simple. Mouse over the "Explore" button on the main menu and click "Buy Cryptocurrency". From here, fill in which fiat currency you want to use, which cryptocurrency you want to buy. Then, follow the instructions and continue.

You can only withdraw cryptocurrencies and it's done like this. Click the "Wallet" button in the main menu. Then click "Withdraw". From here, choose the digital asset you would like to withdraw and proceed with filling the receiving wallet address and the amount you wish to withdraw.