Poloniex Exchange Review
Best For
- Institutions
Poloniex is a fully regulated centralized cryptocurrency exchange based in the US. Recently acquired by Circle Limited, Poloniex has transitioned its customer focus from retail to institutional investors. Several fiat deposit options are available for both Americans and their global customer base.
Poloniex Exchange - 2020 Comprehensive Review
Poloniex Exchange Overview
| Trading Fees | Maker: 0.15% / Taker: 0.25% |
|---|---|
| Exchange Type | Centralized |
| Fiat Trading |  |
| Purchase Options | Bank Transfer, Crypto Deposits, Credit Cards |
| Android App |  |
| iOS App | |
| Trading Options | Spot Trading, Margin Trading, Margin Funding |
| Order Types | Limit, Market, Limit-Stop |
| Exchange Token | |
| Token Benefits | NO TOKEN |
| Charting Software | TradingView |
| KYC Check | |
| KYC Rules | Required For All Accounts |
| IEO Platform | |
| Education Resources | |
| Convert Micro Balance |
|
| Institutional Accounts | |
| Trading API | |
| Deposit Insurance | |
| Withdrawal Speed | Fast |
| Customer Service | Support Ticket System |
| Promotions | Earn Interest Lending USDT, BTC ETH to Margin Traders. Frequent Trading Competitions. |
Poloniex Mobile App Features
Deposits
|
Withdrawals
|
Price Alerts
|
Margin Trading
|
Margin Funding
|
Live Chat Support
|
Poloniex General Trading Fees (Maker & Taker)
| Tier | Monthly Volume Requirement | Maker | Taker | Maker Discount | Taker Discount |
|---|---|---|---|---|---|
| Level 1 | $0.00 | 0.15% | 0.25% | - | - |
| Level 2 | $1,000,000.00 | 0.08% | 0.20% | - | - |
| Level 3 | $2,500,001.00 | 0.05% | 0.15% | - | - |
Poloniex Withdrawal Fees
| Asset | Withdrawal Fees | Minimum Withdrawal |
|---|---|---|
| BitcoinBTC | 0.0005 | 0 |
| EthereumETH | 0.01 | 0 |
| TetherUSDT | 10 | 0 |
| XRPXRP | 0.15 | 0 |
Poloniex charges a $50 fee on rejected bank wires that fail to result in a deposit.
Bank wire withdrawals are free of charge and require a minimum of $50 to process.
More information on Poloniex fees.Poloniex Markets & Volume
Rank 64 |
Total Assets 45 |
Total Markets 92 |
Volume 24h $119,409,092.86 |
Volume 7d $744,452,683.49 |
Volume 30d $2,497,907,696.19 |
Poloniex Top Markets
| Crypto Assets | Price | Pairs | 24h Volume |
|---|---|---|---|
| BitcoinBTC | $48,101.91 | 52 | $149,295,239.96 |
| EthereumETH | $1,500.22 | 10 | $87,720,887.47 |
| XRPXRP | $0.44 | 4 | $6,654,950.03 |
Poloniex Supported Stablecoins
| Stablecoin Assets | Price | Pairs | 24h Volume |
|---|---|---|---|
| TetherUSDT | $1.00 | 59 | $173,652,956.75 |
| USD CoinUSDC | $1.00 | 15 | $31,002,730.73 |
Poloniex Exchange Alternatives
|  |  | |
|---|---|---|---|
| Rating | 6/10 | 7.5/10 | 8/10 |
| Trading Fees | Maker : 0.15% Taker : 0.25% | Maker : 0.1% Taker : 0.1% | Maker : 0.2% Taker : 0.2% |
| Fiat Trading | | | |
| Purchase Options | Bank Transfer, Crypto Deposits, Credit Cards | Crypto Deposits, Credit Cards | Bank Transfer, Crypto Deposits, Credit Cards |
| Trading Options | Spot Trading, Margin Trading, Margin Funding | Spot Trading | Spot Trading, Margin Trading, Margin Funding |
| IEO Platform | | | |
| Mobile Apps | | | |
| Headquarters | Wilmington, DE | Hong Kong | Hong Kong |
| Learn More | Review | Review | Review |
Pros and Cons
Pros
- Established Exchange - Poloniex has been operating since 2014 and was recently acquired by Circle, Ltd.
- Fiat Deposit Options - Users can purchase crypto assets via credit card and bank wire.
- Margin Funding - Users can loan their crypto assets at interest to margin traders via the Poloniex platform.
- Institutional Accounts - Poloniex offers OTC support, tax reporting assistance, preferred trading volume discounts, and more for their institutional clients.
- Mobile App - Poloniex has positively rated mobile applications available for Android & IOS. All web exchange features are available.
- Regulated - Poloniex was recently acquired by Circle, Ltd which has all the required licensing to operate in the US, EU, and other jurisdictions where services are offered.
Cons
- Customer Service - Poloniex has below average customer support with very slow response times.
- Trading Fees - Maker and taker trading fees on Poloniex are higher than the industry standard.
- Privacy - All users looking to trade on Poloniex must submit identity documentation and pass the standard KYC process.
- Liquidity - The overall trading volume on Poloniex has been in decline over the past few years.
Poloniex Frequently Asked Questions
Does Poloniex have a mobile app?
Does Poloniex accept fiat deposits?
Does Poloniex offer margin trading?
Does Poloniex offer margin lending?
Does Poloniex accept US customers?
Summary
Poloniex was founded in 2014 and previously enjoyed success as one of the most popular cryptocurrency exchanges. Since their acquisition by Circle, Ltd, the exchange has seen a decline in user base, liquidity, and trading volume.
Poloniex has transitioned their core focus to institutional clients. Fiat deposits are now available and proper licensing is in place to support larger trading accounts.
Blockfer does not recommend Poloniex for retail traders. Reports of very subpar customer support are common and the high trading fees do not justify the user experience.
Legal & Regulation - Facts & Figures
| Legal Name | Poloniex LLC |
|---|---|
| Incorporated Country | United States |
| Headquarters | Boston, MA United States |
| Year Founded | 2014 |
| CEO | Tristan D'Agosta |
| Total Employees | 200-500 |
| Regulators | Money Services Business with FinCEN |
| Links | Website, Crunchbase, Twitter, Blog, LinkedIn |
About The Author
Delton has been writing about blockchain finance & technology, decentralized applications, and crypto assets since 2017. His work has been published and featured by several independent news publications and blockchain projects.
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