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Review on Poloniex by John Quinito
Poloniex is a great crypto exchange as of today in the market. It is a US…
Poloniex is a great crypto exchange as of today in the market. It is a US based cryptocurrency exchange platform. Poloniex ranked as the 25th largest crypto exchange by data tracker CoinMarketCap.com, with almost 100 tokens listed and a daily trading volume of $70m. This means that with a good volume, traders can easily buy or liquidate their crypto currency easily. Although it has been hacked before but the company running Poliniex is responsible enough to pay off for those of the loses. This means that the team is fully committed to the service they are providing. There is also an auditing programs to monitor exchange activity 24/7/365.
General opinion is that customer support is not at the necessary level for such an exchange. Customer support link forwards to FAQ page which has relatively little information. If you want to contact support you need to create another account for the support center and set another password, which is rather annoying. After that you can submit a ticket. Sometimes users can wait days or even weeks in order to get an answer to the support tickets. Interesting fact is that Poloniex recently disabled their trollbox in order to have more staff for support tickets.
Trading: "Real "crypto trading (actual crypto purchase)
Anonymous Accounts: yes
Cryptos: BTC, ETH, ETC, DASH, XMR, XRP, LTC and about 80+ other altcoins
Payment Options: BTC + supported cryptocurrencies, USDT
Min. Deposit: no minimum stated
Max. Withdrawal: BTC equivalent of $25,000 USD daily (only with level 2 verification with Photo ID) BTC equivalent of $2,000 USD daily (level 1 verification)
Fees: 0.0% to 0.25% trading fees
Leverage: 2.5x
Order Types: limit buy order limit sell order stop-limit buy order stop-limit sell order
Demo Mode: no
Security Measures: 2-factor authentication; No more details, but it's said to be excellent since the small hack in 2014
Mobile App: no in-house app
Support: poor support
Supported Countries: worldwide
Pros:
anonymous account
margin trading
lending function
many cryptocurrency pairs
Cons:
FIAT money such as USD is not supported
no demo account
lending interest rates paid for margin trading are usually high
Pros
- anonymous account margin trading lending function many cryptocurrency pairs
Cons
- FIAT money such as USD is not supported no demo account lending interest rates paid for margin trading are usually high
