Review on Poloniex by James Eunices
Poloniex...
Poloniex was founded in 2014 and has emerged over time as an important exchange platform in the crypto world as a result of its highly user friendly interface and transaction security.
Poloniex is a digital asset trading service and a type of exchange through which users can transact and exchange through which users can transact in different digital currencies around the world. Originally, what differentiated poloniex from the way other exchanges were structured was the fact that it was built as a pure crypto-crypto exchange.
But since i joined poloniex,i noticed there were two methods of funding my account. First, i could deposit crypto currencies into my exchange account by choosing one of the over 100 listed assets. Or i could buy crypto currency from Simplex account. The funds which were in my wallet were movable into their other trading accounts.
But now, poloniex is no longer purely crypto-crypto exchange since users can now trade in Fiat currencies. Poloniex operates based on a volume-tiered maker-taker fee which was adopted in March 2016
Poloniex observed my trading volume over a 30 days span and then determined my trading fee based on the amount of my trading volume.
Pros
- Funds are movable into other trading accounts
Cons
- Was hacked in 2017.
