How To Make A Trade Cryptocurrency On Poloniex

How to make a trade cryptocurrency on poloniex

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Poloniex is a cryptocurrency exchange that’s typically the most popular exchange by volume in any 24 hour period. Find out everything you need to know about this popular exchange today in our review.

What Is Poloniex?

Poloniex is a US-based digital asset exchange that lets you securely trade a diverse range of fiat currencies, cryptocurrencies, and digital tokens.

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Poloniex is typically the most popular cryptocurrency exchange in any particular 24 hour trading period, which means users enjoy strong liquidity even on more obscure pairs.

In addition to the exchange, Poloniex offers margin trading and lending services.

Poloniex Features

Poloniex offers all the features you’d expect in the world’s most popular cryptocurrency exchange.

It lets you easily deposit funds, exchange digital assets, and trade in a peer-to-peer marketplace with low fees.

How to make a trade cryptocurrency on poloniex

Here are some of the unique features that distinguish Poloniex from other leading exchanges:

Hacker Defense And Cold Storage

Poloniex holds “the vast majority” of consumer deposits offline in air-gaped cold storage. The exchange only keeps enough funds online to facilitate active trading – so even if Poloniex is hacked, there’s minimal risk and exposure for the exchange.

Auditing And Monitoring

Poloniex has an auditing program that monitor exchange activity 24/7/365.

The job of the auditors is to report and block any suspicious activity before it becomes a problem.

No Fractional Reserves – Your Funds Are Your Funds

Unlike banks, Poloniex doesn’t use your funds for other activities.

How to make a trade cryptocurrency on poloniex

Any funds you deposit into the exchange are used to facilitate trading through your bank account. Poloniex does not operate on fractional reserves.

Poloniex Fees

Poloniex, like most exchanges, employs a volume-tiered fee schedule. The more you trade, the less you’ll pay in fees.

How to make a trade cryptocurrency on poloniex

Volume trading discounts kick in for 31 day trading totals greater than 600 BTC.

  • Maker Fee: 0.15%
  • Taker Fee: 0.25%

If you trade more than 600 BTC in a 30 day period, your maker fee drops to 0.15% and your taker fee drops to 0.25%.

Volume discounts apply all the way up to traders who trade more than 120,000 BTC in a 30 day period.

How to Make Money Fast Trading Crypto Coins on Poloniex

Those trades pay 0.00% maker fees and 0.05% taker fees.

About Poloniex

Poloniex, Inc. can be based at the following mailing address in Delaware:

1013 Centre Rd, Suite 403-B
Wilmington, DE 19801

The company is registered with FinCEN as a Money Services Business (MSB). Poloniex also participates in KYC and AML regulations.

How to make a trade cryptocurrency on poloniex

Verification levels vary according to your country of residence and other factors – like any suspicious or flagged trades performed on your account.

Poloniex Conclusion

Poloniex is a popular cryptocurrency exchange that typically sits in the number one (or at least top 3) position among digital asset exchanges in terms of 24 hour volume.

The US-based exchange offers particularly strong liquidity in ETH/BTC, BTC/USD, LTC/BTC, ETH/USD, and XRP/BTC. However, even the more obscure pairs have strong liquidity on Poloniex.

How to make a trade cryptocurrency on poloniex

With a total 24 hour volume of $450 million at the time of writing, Poloniex has great movement across most cryptocurrency and fiat currency pairs.

The only real “restriction” to Poloniex is that it’s primarily a cryptocurrency-to-cryptocurrency exchange. You can trade USD on some pairs. For the most part, however, Poloniex is dedicated to buying and selling cryptocurrencies.

You can sign up for Poloniex today at Poloniex.com