Review on Poloniex by Adedayo Adeniji
Poloniex an exchange for the experienced trader
Here is my view about as an exchange, Poloniex is a crypto exchange released in 2014 by Tristan D’Agosta it was formerly headquartered in Delaware USA but now in Seychelles. It provides users with wide varieties of cryptocurrencies ranging from most popular ones to less popular ones, it only takes cryptocurrencies on its trading site and does not accept fiat deposit and Its daily trading volume is tremendous.
Its supported trading orders are selling order, buying order, and stop limit order, it also has a lending feature with interest rates. Poloniex uses market taker and market maker proposition in its trading fees charges in other to encourage good liquidity.
Its verification process involves, email name and country residence verification for a particular withdrawal limit, address information, mobile digits with photo identity which actually takes days to conclude verification for another particular withdrawal limit and finally it uses 2-factor authorization for its security. Poloniex users’ fund are stored in cold storage.
I hereby submit that it is certainly not an exchange for beginners and I advised it to be used by experienced traders for good result
Pros
- It has varieties of cryptocurrencies to trade with
- It is a US company
- It has good customer support
- It requires fair trading fees
Cons
- It has a known history of being hacked
New products
Comments (1)
January 11, 2021
Poloniex offers traders that are veterans a greater opportunity to earn, and it's highly secure premises on its location in a country with strictest regulation and oversight. Detailed review.
