Poloniex

Poloniex is one of the biggest cryptocurrency exchanges in the world. It has been around since January 2014, so it was actually one of the early birds on the market.

As Poloniex is a US cryptocurrency exchange, US-investors may of course trade there. But US-investors should in any event do their own independent assessment of any problems arising from their state residency. In particular, investors from the state of New York are often restricted from trading at many cryptocurrency exchanges.

Poloniex is also available as an app that you can download to your smart phone.

 

On 19 July 2019, the 24 hour trading volume here was USD 41.7 million. This placed it on place no. 64 on the list of the exchanges in the world with the highest 24 hour trading volumes. On the date of last updating this review (31 March 2020, right in the middle of the crisis with COVID-19), the trading volume was USD 32.7 million. This time however, Poloniex only managed to achieve place no. 99 on the list, so it had dropped a bit relative to the market in general.

 

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you.

 

Poloniex Trading fees

This exchange doesn't charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. Poloniex charges both makers and takers 0.09%. 

 

Poloniex Withdrawal fees

Poloniex's withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.0008 BTC per BTC-withdrawal. But today, we see more and more exchanges charging 0.0005 BTC per BTC-withdrawal, so one could argue that 0.0005 BTC is starting to become the new industry average.

 

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Comments: 1
  • #1

    Poloniex Team (Thursday, 13 August 2020 19:39)

    July was a busy month for us at Poloniex! We introduced Poloniex Futures, new listings, new competitions, and many other ways for you to earn rewards from within your Poloniex account.

    Throughout July, you received the following rewards in your Poloniex account: BTT Staking, TRX Staking, JST Monthly Airdrop, and WIN Monthly Airdrop!

    There are even more ways you can be earning on Poloniex. From staking to airdrops (and much more in between) you can continue to receive rewards each and every month.



    Staking & Lending

    Let your crypto work for you. Use our simplified staking to receive regular rewards on ATOM, BTT, TRX, and WIN. With no lockup periods, you can trade or withdraw as you want and continue earning! You can also lend your BTC, USDC, USDT, and 16 other crypto assets to earn interest directly in your account.


    View the latest annual rates in your wallet

    Airdrops

    Earn COMP, JST, and WIN with our regular airdrops for customers. Deposit and hold cUSDT during our daily balance snapshots and you’ll earn COMP rewards each week. Hold TRX during our snapshots and you’ll receive JST and WIN airdrops each month.

    Earn COMP Earn JST & WIN

    Campaigns

    With all of our new listings, we’re continuously launching new campaigns and competitions to increase your opportunity to receive earnings. Right now, you can trade Bitcoin Futures in our Poloniex Futures Trading Tournament and earn daily and overall volume and PnL prizes.