Poloniex Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $50
- Proprietary platform
- Simple interface, deep analytics, P2P lending, and staking, a lot of assets and pairs
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $50
- Proprietary platform
- Simple interface, deep analytics, P2P lending, and staking, a lot of assets and pairs
Our Evaluation of Poloniex
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Poloniex is a moderate-risk cryptocurrency exchange with the TU Overall Score of 6.62 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Poloniex clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews.
Poloniex is a well-known cryptocurrency exchange that offers favorable trading terms. The site offers spot and margin trading, a variety of fiat pairs, cryptocurrency pairs, and mixed crypto/fiat pairs. Commissions are below the market average and there is a convenient lending system, which can be considered as an effective option for passive income along with a staking system.
The proprietary trading terminal is well protected and works stably.
Brief Look at Poloniex
The Poloniex exchange is a platform for exchanging cryptocurrencies and spot and margin transactions. The service offers a proprietary web terminal and mobile version. Bitcoin, Ethereum, USDT, and several dozen other popular cryptocurrencies are traded on the exchange. There are also fiat pairs. Poloniex.com offers two passive earning options as simplified staking and P2P lending. There is a community of cryptocurrency traders on Poloniex called Poloniex Learn. There, the latest news and analytics are regularly published. The crypto exchange also has an insurance fund, which indicates the safety of Poloniex. The cryptocurrency exchange offers detailed guides on contracts and high-quality analytics on spot prices for indices. Analytical materials are available even to unregistered users.
- fiat pairs;
- simple and user-friendly interface;
- high turnover of trades;
- the possibility of lending;
- low transaction fees;
- convenient technical tools;
- deep analytics;
- high-security level.
- there is no direct connection with technical support (only messengers, mail, social networks);
- unjustified blocking of accounts has been noticed in the past.
TU Expert Advice
Financial expert and analyst at Traders Union
Poloniex cryptocurrency exchange offers a complete list of the most popular cryptocurrencies and tokens, including Bitcoin, Ethereum, Litecoin, Tron, Monero, etc. Cryptocurrency assets are traded in a wide range of pairs, including fiat/crypto combo pairs. You can freely convert any cryptocurrency into fiat (for example, into USD) in your personal account with subsequent withdrawals. All major channels are available for deposits and withdrawals via plastic cards, bank accounts, and cryptocurrency e-wallets.
The interface is friendly and the technical tools are simple to operate. So, too, is its proprietary trading terminal. The terminal is equally stable and convenient both in the web version and in the mobile iteration that is proven by the test results. The different versions are the same in their functions. The Poloniex website is also adapted for mobile devices so that users can study news and analytics in the mobile trading mode.
There are three opportunities for passive earnings. The trader can provide his funds for staking, there is P2P lending, and a typical one-level referral program. Lending is the least active option at the moment. There are always a lot of offers, but sometimes there is not enough demand. Therefore, the Traders Union experts don’t recommend the investors to focus on this option.
- You prioritize low trading fees. Poloniex offers competitive trading fees, with the highest fee for an order being 0.1550%. This cost-effectiveness is further enhanced by a 30% discount when paying fees in TRON (TRX), providing additional savings for investors.
- You value a highly rated mobile app. Poloniex's mobile app receives high ratings on both the App Store and Google Play, reflecting its reliability and user-friendly interface.
- You are located in the United States. Regulatory restrictions prevent U.S. citizens and residents from using Poloniex. If you're based in the U.S., you'll need to explore alternative exchanges compliant with U.S. regulations.
- You require direct support for fiat currencies, as Poloniex does not directly support fiat deposits or withdrawals, limiting your ability to engage in fiat transactions on the platform. If you rely on fiat currencies for trading, you'll need to use other platforms that offer support for fiat transactions.
Poloniex Summary
Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.
| 💻 Trading platform: | Proprietary platform |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, fiat currencies |
| 💵 Replenishment / Withdrawal: | Bank cards and accounts, cryptocurrency e-wallets |
| 🚀 Minimum deposit: | $50 |
| ⚖️ Leverage: | Up to 1:100 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | From 0 |
| 💱 Commission: | 0.125% |
| 🔧 Instruments: | Cryptocurrencies, fiat currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | A limit order, Market order |
| ⭐ Trading features: | Simple interface, deep analytics, P2P lending, and staking, a lot of assets and pairs |
| 🎁 Contests and bonuses: | Yes |
Established in 2014, Poloniex is a world-known cryptocurrency exchange. Today, Poloniex offers cutting-edge services, and in particular an advanced trading system introduced in 2022 that allows every customer to perform trading operations faster and with higher stability. The company offers its services in about 100 countries and regions of the world. Poloniex offers spot trading, futures trading, staking, and other services. The leverage up to 1:100 is available for traders who have seized the opportunities of margin trading on Poloniex. This allows you to multiply your profits, but you should understand that risks also increase. The cryptocurrency exchange doesn’t set a minimum trade size. But the minimum deposit for credit cards is $50. The minimum deposit from cryptocurrency sources shall be at least 0.03BTC. There are no withdrawal limits for cryptocurrency channels, but there are limits for fiat.
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Commissions and fees
Poloniex cryptocurrency exchange charges transaction fees to its users. The commission size depends on the trading level. The trading level is determined by the trading volume and the fund’s amount on the account. The commission is 0.125% for the maker and recipient at the first (lowest) trading level. At the sixth and highest level, the commission is 0.000% for the maker and 0.070% for the recipient.
There are reduced commissions for users with one of the VIP accounts—Poloniex Plus Silver or Poloniex Plus Gold. Users with the Poloniex Market Maker status have the lowest possible commissions. This status shall be assigned on an individual basis. The commission for trading futures is fixed, which is 0.01% and 0.075% for the maker and recipient, respectively.
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | From 0.125% per market order | On an individual basis |
Margin traders pay interest to their lender(s) based on the amount obtained. The interest rate is indicated in the loan offer and shall be calculated after the margin position is closed. Margin trades shall be subject to the trading fees listed above. There is a 25% commission discount for all trades carried out in TRX. The experts at Traders Union have compared trading fees at Poloniex.com with competing cryptocurrency exchange commissions. Find the data on the commission levels at Poloniex, Bitfinex, and Bybit in the table below.
| Broker | Average commission | Level |
|---|---|---|
|
$0.1 | |
|
$20 | |
|
$0.1 |
Investment Options
Here, in addition to making money on trading cryptocurrencies and tokens, you can use passive investment earnings channels. The company offers two options:
P2P lending. At any time, you can apply for an asset with an offer to lend this asset in a specified amount. The offers of loans and applications for them shall be published in the corresponding section of the site. Anyone can respond to the application and provide the user with the amount requested. All the loans shall be insured by the company and a commission shall be charged.
Staking. You can provide a part of your funds to the validator to ensure the trades, which can only be confirmed in the blockchain system if you have a sufficient amount on your account. This system doesn’t require any extra actions, just activate the corresponding function. Funds are not frozen in the account, so you can use them at any time.
Poloniex investment programs don’t require any special knowledge or actions. You can become an investor and start getting passive income in just a click. Just ensure that you have the necessary amount in any assets on your account.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Poloniex’s affiliate program
Poloniex cryptocurrency exchange offers a standard affiliate program. Most exchanges have analogs. It is a peer-to-peer affiliate program, so you can build a network of first-level referrals, but you will not get any income from the users they invited. The terms of the affiliate program are as follows:
Register and verify yourself. It is not necessary to trade or invest.
After registration, you will receive a personal referral link to be sent to other people.
A user who registered using your link and started trading brings you 20% of all commissions charged from him.
Also, your referral gets 10% from each commission.
The last point allows you to motivate users to register using your referral link, because they get real benefits, such as savings on commissions. But this is not the only way to save money.
User Satisfaction