Poloniex is a worldwide-known crypto trading platform. Launched in 2014 in the USA, it remains a popular exchange among many customers. After integration with Circle in 2018, Poloniex reviews started mentioning new services like OTC and instant transfers.
Poloniex Fees and Limits
Generally, Poloniex fees are between -0.02% and 0.09% for makers, and from 0.025% to 0.09% for takers. Withdrawal fees are 0.0005 BTC. There’s also a lending fee of 15%. Poloniex limits for withdrawals vary from $10,000 to $1,000,000 per day.
Is Poloniex Safe?
A major Poloniex down issue in 2014 resulted in its hack and loss of 12% of BTC stored. Due to this attack and further problems with regulators, users don’t trust Poloniex much. But the exchange is still among the leaders by liquidity, according to CoinMarketCap.
Poloniex Exchange – Q&A
The Poloniex review 2020 answers the most pressing questions about this exchange. Check them and use the Poloniex phone number or site support in the case of further clarifications:
- How to buy on Poloniex? You can use a traditional exchange or navigate to its decentralized version. Both options require using your Poloniex login.
- How to use Poloniex? Just like other world-class exchanges. Start with registration, complete the verification process, deposit crypto or fiat funds, and trade.
- Is Poloniex legit? It’s legit. The Poloniex scam is impossible due to regulatory compliance. It’s also important that Poloniex is controlled by Circle.
- What is a Poloniex alternative? Well-known giants like Binance, CEX.IO, and Kraken are outperforming Poloniex in terms of liquidity and volume.
- Where is Poloniex located? The exchange has offices in Wilmington, Delaware, and Seychelles. Note that the Circle’s head office is in Boston, Massachusetts.
- Which pairs are available? The Poloniex review reveals over 100 crypto trading pairs and around 25 margin markets. Only crypto-crypto trading is available.
- A lot of coin pairs to trade
- Has a decentralized Poloniex exchange
- High liquidity and volume
- Provides access to Circle offerings like OTC
- Supports cryptocurrency lending
- Supports margin trading
- May be unfriendly to beginners
- Poloniex support teams are unresponsive
- Restrictions for US citizens
- The website is often slow and laggy
- Various issues with security, Poloniex fraud accusations