Poloniex Exchange Review
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%|
|Purchase Options||Bank Transfer, Crypto Deposits, Credit Cards|
|Trading Options||Spot Trading, Margin Trading, Margin Funding|
|Order Types||Limit, Market, Limit-Stop|
|Token Benefits||NO TOKEN|
|KYC Rules||Required For All Accounts|
|Convert Micro Balance|
|Customer Service||Support Ticket System|
|Promotions||Earn Interest Lending USDT, BTC ETH to Margin Traders. Frequent Trading Competitions.|
Poloniex Mobile App Features
Live Chat Support
Poloniex General Trading Fees (Maker & Taker)
|Tier||Monthly Volume Requirement||Maker||Taker||Maker|
Poloniex Withdrawal Fees
|Asset||Withdrawal Fees||Minimum Withdrawal|
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
Poloniex Top Markets
|Crypto Assets||Price||Pairs||24h Volume|
Poloniex Supported Stablecoins
|Stablecoin Assets||Price||Pairs||24h Volume|
Poloniex Exchange Alternatives
|Trading Fees||Maker : 0.15%|
Taker : 0.25%
|Maker : 0.1%|
Taker : 0.1%
|Maker : 0.2%|
Taker : 0.2%
|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|
|Headquarters||Wilmington, DE||Hong Kong||Hong Kong|
Pros and Cons
- 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.
- 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?
Yes. Poloniex has a mobile app available on the Google Play and Apple App Store.
Does Poloniex accept fiat deposits?
Poloniex accepts credit cards and bank wires for deposits.
Does Poloniex offer margin trading?
Yes. Poloniex offers margin trading on Bitcoin and select altcoins with up to 2.5x leverage.
Does Poloniex offer margin lending?
Yes. Poloniex offers margin lending for Bitcoin and select altcoins.
Does Poloniex accept US customers?
Yes. Poloniex accepts US customers that complete the KYC (Know Your Customer) process by submitting documentation to verify their identity.
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
More Exchange Reviews
Methodology: How We Review And Compare
Our mission is to provide the most informative, unbiased, and useful reviews and comparisons possible for products and services in the blockchain finance industry. Assessments are powered by experts with years of relevant experience.
The cryptocurrency exchanges found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our exchange reviews and comparisons include: liquidity, purchase options, user experience, trading fees, trading options, listed assets, reputation, mobile experience, and customer support.
The Blockfer Promise: We do everything in our power to keep content up to date and in the best interests of our audience. Blockfer does not shy away from poor ratings. Products or services that do not meet our reputability standards will be rated as 'Not Trusted'. Compensation from partners does not, and will never, effect our review process.