|Headquarters||Wilmington, DE, USA|
|Support Types||Live chat, email|
|Free Demo Account|
|Deposit Methods||Bitcoin, Ethereum, BitcoinDark, Ethereum Classic, Dash, Ripple, Litecoin, etc.|
|Withdrawal Methods||Bitcoin, Ethereum, BitcoinDark, Ethereum Classic, Dash, Ripple, Litecoin, etc.|
|Number of Assets||120+|
|Types of Assets||Ethereum, Bitcoin, Zcash, Dash, Ripple, Litecoin, MaidSafeCoin, Factom, Clams, Dogecoin, Monero, etc.|
|US Traders Allowed|
- Exchange Commission: yes
- The volume of trades: more than 800 million dollars. / Day
- Channels of communication: chat, ticketing system, twitter
- The possibility of exchanging for fiat currencies: no
- Number of crypto-currencies: more than 120
- Training: no
- Analytics: yes
- Scalping: yes
- Affiliate Programs: no
- Poloniex API: yes
The crypto exchange Poloniex has been operating in the market since 2014. It’s considered to be one of the most popular exchanges in the world. Despeite it’s not the first such a platform on the market, it’s in great demand among traders, as it provides a wide range of services for a comfortable and functional trade in cryptocurrencies. Poloniex currently ranks first in Ethereum’s sales volume among other similar sites, attracting a huge audience of its users.
Certainly, you’re eager to know for sure whether it’s another fraudster or it’s a reliable and trustworthy crypto exchange, which guarantees safe trade with an opportunity to get a decent income and withdraw it without problems. We’ll try to answer this question here below.
As a crypto exchange, Polonix is still young, but it has already become the most popular trading platform for cryptocurrencies. Today, the number of its users is rapidly growing, it steadily occupies a leading position in the market, being considered one of the most reputable resources for trade and exchange of cryptocurrencies. The counter of visits to the resource on the site on average shows that about 30,000 users are constantly online. Poloniex can be found at the TOP-5 among all exchanges in terms of sales. It ranks first in terms of sales of Ether.
One of the reasons for such a mind-blowing success of the platform is great opportunities for trade in cryptocurrencies, safe and profitable exchange of digital coins, lending. At the same time, the largest percentage of the audience, about 90% of the participants of the exchange, are interested in options for trading and currency exchange. For comfortable trading in cryptocurrencies (learn here how to make money on cryptocurrencies) their website offers a convenient functional terminal. You can make use of currency exchange charts with an ability to change the display period, add your own markers, use a variety of settings, oscillators, indicators and filters, convenient forms for orders for currency purchase (SELL, BY, STOP LIMIT ), an intuitive display of orders of traded pairs. Extended analytics (the price of a currency for the last day, the history of trade) will make trading effective.
The platform is also interesting because traders are offered an impressive number of digital currencies: more than 120, many rare virtual coins are involved in the exchange’s turnover. On the exchange the following cryptocurrencies are available: Ethereum, Bitcoin, Zcash, Dash, Ripple, Litecoin, MaidSafeCoin, Factom, Clams, Dogecoin, Monero, etc. Each user at the registration on the exchange automatically opens a personal multicurrency wallet.
The issue of security here is one of the most important in all such sites, as this sphere is always an attractive place for numerous fraudulent schemes. Thanks to a two-factor authentication on the poloniex com website, user accounts are securely protected. If transactions seem to be suspicious, the administration of the resource requests corresponding documents to confirm the identity of the trader.
The resource still works and serves traders. It’s still the largest player in the market of cryptocurrencies (learn here whether cryptocurrencies are a scam). Moreover, it’s considered to be one of the best exchanges in the world.
Replenishment and withdrawal of funs
A stricking peculiarity of this crypto exchange is that it doesn’t support conventional payment systems, it works only with digital currencies. To engage in trading, the user is expected to transfer a digital currency to the Poloniex account. Replenishment and withdrawal are possible in the following cryptocurrencies:
- Ethereum Classic,
- Ripple, etc.
If you want to transfer digital coins to the exchange or withdraw them, go to the poloniex.com site, then go to the «Deposits & Withdrawals» section, by clicking the «Balances» tab, then select the appropriate cryptocurrency, the operation: replenishment or withdrawal. The exchange has a commission, in general, users mark it as one of the lowest among crypto exchanges – its size depends on the volume of trades: the more the trader traded, the less his commission will be.
Complaints about Poloniex
On the Internet there are a lot of different reviews of traders about working on the crypto exchange Poloniex. It’s quite normal, as the financial resource is leading by the number of users working here with digital currencies. Among the advantages traders point to reliability and reputation of the market leader, functionality, advanced features and convenience of trading, a rich choice of tools and settings, a two-factor registration, low commission, rare digital coins.
However, there are negative reviews too. Traders keep complaining about long withdrawal of funds, problems with technical support (for example, these are long answers, lack of communication, rather a low level of knowledge), support of only virtual currencies, blocking and deleting accounts without explaining the reasons , long verification, constantly emerging issues with access to the site for technical reasons. All of this makes traders seriously consider changing the platform.
If we find complaints about Poloniex, we will post it on social media. Follow us to be well informed:
Regulation of Poloniex
Poloniex has the right to provide cryptocurrency trading services in certain states of the USA. Working on the site, the user automatically agrees that he or she will use the resource only for the intended purpose, without taking part in fraud, money laundering, financing of terrorism. In addition, working on the exchange, clients should be aware of all possible risks associated with activities in the financial markets, the status of the cryptocurrency, the risks associated with the operation of the resource (cyberattacks, technical failures). The company does its best to ensure the security of information and confidentiality of users.
Is Poloniex a scam?
The crypto exchange Poloniex is, undoubtedly, an excellent choice to trade in cryptocurrencies. It has high ratings and a serious reputation. Being one of the young companies, it was able to beat competitors with unique features, platform convenience. The exchange is popular around the world, it occupies the first place in terms of the volume of operations and user involvement. Today, the world-renowned organization keeps rapidly developing, thus proving that it’s not a scam. The terminal offers a large number of settings, functions and reports, which makes trading in cryptocurrencies not only comfortable, but also effective. The exchange offers trading opportunities, currency exchange, provides users with a personal wallet.
Decent solutions to issues of security and reliability on the site poloniex com are one of the indisputable strengths of the company. The exchange’s soaring popularity, huge volumes of transactions and revenues – all this can’t be ignored by scammers, who’d like to cash in on the users’ oversight. However as the company develops, it improves the level of security of its trades. Traders are advised to pass a two-factor registration, and managers can also request documents confirming the identity of the user.
On the Internet, there are both positive and negative feedback from traders about the resource, but one can’t say which of them dominate. Among the positive moments, one should mention its reliability and a good reputation, profitable trading, functionality and convenience of the platform. A correct reaction to the hacking of the stock exchange in 2014 and reimbursement of funds to users prove that this is not a fraud, but a serious organization. There are also enough negative reviews, and they often they relate to issues with the support service (these are long answers, lack of communication, etc.), problems with long withdrawal and verification, blocking of accounts, frequent problems with access to the site.
Poloniex can’t be regarded as a scam now. It adequately and honestly fulfills its obligations to traders, steadily paying them money, monitoring the correctness of payment systems, ensuring sufficient safety to prevent hacking. Traders positively assess the company after the cyberattack, when the exchange paid users money from its budget. Do you still consider Poloniex to be a scam? It can’t be a fraudster because the company holds the leading positions in the ratings of such businesses. It leads in terms of the number of regular customers and turnover of funds. It offers an opportunity to trade comfortably and profitably.
Today the crypto exchange Poloniex is deservedly considered the market leader. Despite this company is still quite young, but it manages to steadily evolve. Making a choice in favor of the exchange, the user can work in a convenient functional terminal with advanced settings and reports, favorable terms of trade, a possibility of exchanging digital currencies.
It remains to be hoped that the management of crypto exchange is planning to eliminate negative moments. It’s expected to proceed with its successful development. Today we won’t label Polonix as a scam. However, the responses of traders that we expect to see for this review will not only be useful to the users of our resource, but also significantly influence the rating of the Poloniex crypto exchange.Visit Broker