Poloniex - learn everything about that cryptocurrency exchange

2 min reading

Poloniex is an American cryptocurrency exchange, which is one of the most popular platforms of this type in the world. Learn everything about it!

cryptocurrency exchange poloniex logo

Poloniex - what is it?

Poloniex is an American cryptocurrency exchange founded in 2014 by Tristan D’Agoste. It is one of the most recognizable platforms, currently occupies 55 positions in the world in terms of turnover. Poloniex became visible due to two hacker attacks. Despite losing more than 10% of its funds, the platform quickly rebuilt customer confidence. Another fairly high-profile incident was the change of location from Washington to Delaware, caused by Senate Act 5031.

Shortly afterwards, another attack took place, this time in the Google Play application - two applications allegedly connected with the stock exchange were operating, and in fact stealing data into accounts. This resulted in Poloniex introducing the need to verify all users. Less than a year later in 2018, the stock exchange was taken over by the American company Circle Internet Financial related, among others, to the American bank Goldman Sachs Group Inc. Currently, the nta platform supports over 60 cryptocurrency pairs.

How to use Bitmex??

 To start your adventure with Poloniex you need to create an account. Due to the fact that the platform is owned by an American company, we will not find Polish on it. Registration, however, is very simple, intuitive and analogous to all internet portals. In the upper right corner there is the "sing up" tab - after entering it, just enter your email address and password and then confirm. Such data will allow a daily payment of up to $ 2,000, to increase it you must provide accurate data and undergo KYC verification.

Having an account you can proceed to pay the deposit. Please note that the exchange only supports cryptocurrencies, so a deposit can only be made in supported coins. As for fiat currency, the only alternative on the platform are USD stablecoins. To deposit or withdraw your crypto capital from poloniex, go to the 'balances' tab and then 'Deposit & Withdrawals'. Then, depending on the cryptocurrency, you need to generate your payment address or enter the address to which you want to withdraw funds from Poloniex.

The stock exchange enables traditional spot exchange, margin leverage and recently more and more popular lending. The idea of making money at Lending is to borrow your free funds to other players who want to use the leverage. In return, the borrower pays interest accrued at a fixed time interval. Commissions for trading on the platform range from 0.125% to 0.03% for the maker and from 0.0125% to 0.08% for the taker.

Opinions about Poloniex

Despite two hacker attacks, the stock exchange has managed to rebuild user confidence. Currently, despite the fact that the platform is not at the forefront of exchanges, it is highly recognizable. Poloniex's security issues are not very extensive, they basically do not stand out from other exchanges, but the platform seems to be constantly working and implementing further security. Another issue is affiliation with one of the most well-known financial industry companies, Goldman Sachs. All this means that the stock market has very positive opinions, and among them you can often feel the sentiment.

Dear customer,

We use cookies to provide our services correctly and safely. Cookies are small text-based data sets that shall be saved on the device you are using in connection with the use of this instnat website. Cookies are created in order to ensure proper functioning of thes instant website. By clicking the button "I accept and go to the website", you implicitly agree to creation of the cookies on your computer and to deploy automatic tracking and data collection and processing on behalf of the Tokeneo TEO OU. Click the above-captioned button is also tantamount to accepting website's privacy policy. Closing the notification by means of "X" is unequivocally connected with your consent. If you do not agree to any of the above, please discontinue using our Website.

“Cookies” shall make an identification of the software used by you and to customization of this instant website to your needs. Cookies contain the name of the domain from which they origin, duration of period of their storage on your computer and an assigned value.

Third party cookies:
We also use third-party cookies for the following purposes:

  • creating statistics - helping to understand the way Users use the Website, which allows to improve its structure and content with use of the analytical tools
  • defining a user profile - in order to display custom-tailored content in advertising networks.

External entities that might be source of any third-party cookies on this instant Website are as follows:

Using a settings of your web browser or by using pre-set configuration tools available in our service you can independently and at any time change the settings concerning your use of the “cookies”, specifying the conditionsof their storage and how your device is creating and downloading them. These settings can be changed to block the automatic handling of cookies in the settings of your web browser or inform about their placement on your device each time.

Detailed information about the options related to use of “cookies” is available in the settings of your software (web browser).

Service privacy policy

This instant document lays out the principles of the Privacy Policy on the tokeneo.com/news/pl website (hereinafter referred to as the "Website" or "Service"). The administrator of the Website is TOKENEO TEO OÜ (an Estonian law limited liability company) with its registered offices in Tallinn (in the province of Harju Maakond), at 19-7K Maakri Street (in the district of Kesklinna Iinnaosa), 10-145 Tallinn, Estonia, registered on 21.12.2018 in the Estonian Business Register under number 14630242, using the EU VAT number: EE102149487.

The full document to read the Tokeneo privacy policy is available in this document.

Advanced settings can be changed in your browser.