- Low fees
- Number of available cryptocurrencies
- Easy to open an account
- Margin trading
- Futures trading options
- Complicated interface for beginners
- Limited fiat deposits options
- Customer support can be slow
- Been hacked couple of times
Poloniex was founded in Wilmington, Delaware (USA) in 2014 and became one of the largest crypto exchanges in the world. The platform currently handles crypto assets of more than 100 million users in 30 countries. There are more than 50 cryptocurrencies available for trading on Poloniex.
Platform is famous for their relatively low fees. The daily trading volume is 70 million US dollars, which makes yearly trading volume of 70 billion US dollars and ~150% growth during last year.
Poloniex supports the following transaction types: buy, sell, trade, deposit, withdraw; margin trading. Additionally, the company offers a standalone crypto wallet, and an NFT marketplace.
Poloniex has its own “fee schedule” which depends on last 30-day trading volume. There are 6 levels of fees, where on Level 1 you will be charged 0.1450%/0.1550% maker/taker fee and 0.0200%/0.1000% maker/taker fee on Level 6. There are also 2 membership levels with more beneficial fees.
Another advantage of using Poloniex is that they don’t charge commission on deposits and for withdrawal there is a fixed fee per asset to cover the cost of broadcasting a transaction to the network.
There are 2 membership plans available on Poloniex: Poloniex Plus Silver and Poloniex Plus Gold
Poloniex Plus Silver provides you with lower fees regardless your trading volume, priority customer support and access to Poloniex API. While Poloniex Plus Gold provides you with even more lower fess, whitelisting priority, high API request number and increased withdrawal limits.
Poloniex Futures API
Platform provides their users with API that includes all functionality needed to build crypto trading bots, market analysis tools and other financial software on top of that. There is well-documented API specification making the development process quite easy.