Review on Poloniex by David Olayide
Poloniex And Credibility
Poloniex is a centralized crypto exchange platform that can be used by both experienced veteran crypto traders and inexperienced traders. In terms of performance Poloniex is one of the best altcoins in the world today. Sometime back in 2014, Poloniex was hacked and they lost a lot of money but by 2016, it again became one of the top exchanges in terms of liquidity. Poloniex also lost a lot of their customers due to their bad customer support.
Poloniex is a popular digital currency exchange platform mostly because it provides one of the lowest trading and withdrawal fees ever! I can attest to this because when I attempted to make some transactions while using the platform I was surprised to see that the fees were very cheap. However using Poloniex is restricted to some few countries one of which happens to be the US.
To register, you can choose if you want to verify your identity, or you could simply sign up with just your email alone. There is no charge for depositing cryptocurrency on Poloniex. Users can also earn income from the margin lending and borrowing feature available on the exchange platform.
Despite the hack sometime ago, the Poloniex crypto exchange platform is still considered to be relatively secure. Poloniex crypto exchange has a simple user interface. Though it may not be the easiest option for new beginners, if you are a quick learner, then there's no problem at all.
Pros
- Only email address is required for you to trade
- Very low and cheap fees
- Variety of coins to trade
Cons
- No fiat currency
- Slow customer support
- Not so secure
