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Poloniex - learn everything about that cryptocurrency exchange

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

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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.

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