Poloniex review

  • 0.0-0.25% Trading Fees
  • 0.5 ETH Minimum Desposit
  • 0.0% Deposit Fees
  • 2/5 Security
Website :
Established : 2014
Support :
Country : United States
U.S. Clients Allowed : Yes
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Poloniex is one of the famous cryptocurrency exchanges. They provide diverse range of cryptocurrencies to trade with, segregating the platform into 3 main markets (Bitcoin, Ethereum, XMR, and USDT) which can be traded against the majority of other cryptocurrencies. Exchange was founded by Tristan D’Agosta in January 2014. The company however was not very open regarding disclosure of their executive level, likely due to the fact that Poloniex offers services to US residents without license from US financial watchdogs. In other words, they have no license to offer exchange trading services in the US. Poloniex is headquartered in San Francisco, California. Their main area of operations is US but they offer services to residents of other countries as well.

Poloniex exchange


Poloniex Account Verification

Account registration on Poloniex is an easy procedure and can be usually completed within couple of minutes. You simply need to fill in the necessary details and after that click on the link in confirmation email to finalize account activation. Further verification is not much different from other exchanges and is a 2 –level structure.

  1. Email verification, identity verification, and proof of residence. On completion of first level of verification user’s daily withdrawal limit will be set to $2000 USD. Also, completion of first level of verification is necessary for margin trading activation.
  2. Second stage of verification requires user to provide more information. Copy of national passport or id card and a picture of user holding photo id for additional identity check. It usually takes up to 2 days for the compliance department to fully process the documents and fully verify the account. Once everything is done, user’s daily withdrawal limit will be increased to $25,000

As we know there is also 3rd level of verification which can provide higher withdrawal limits. But the requirements for activation of this account aren’t posted on the website, so users can contact support for getting additional information about that.

Deposits and Withdrawals

Unfortunately, Poloniex is a crypto-to-crypto exchange only and there is no way deposit to the website with fiat money. Deposits are possible with Digital currencies only and a digital wallet is required to complete the transaction to the platform. Users can use QR scanners from the device where they keep their wallet to make the transaction faster.

Poloniex Fees

Poloniex platform utilizes conventional market-maker model which stimulates liquidity by rewarding the makers with a lower fee. This further reduces the spread as model at its core encourages makers to top their bids to gain a better competitive edge. All things considered without a shadow of a doubt Poloniex manages to maintain high liquidity with market maker – taker model.

The users are charged according to the following fee schedule:

  • below 600 BTC – 0.15 percent for the maker, 0.25 percent for the taker
  • from 600 to 1,200 BTC – 0.14 percent for the maker, 0.24 percent for the taker
  • from 1,200 to 2,400 BTC – 0.12 percent for the maker, 0.22 percent for the taker
  • from 2,400 to 6,000 BTC – 0.10 percent for the maker, 0.20 percent for the taker
  • from 6,000 to 12,000 BTC – 0.08 percent for the maker, 0.16 percent for the taker
  • from 12,000 to 18,000 BTC – 0.05 percent for the maker, 0.14 percent for the taker
  • from 18,000 to 24,000 BTC – 0.02 percent for the maker, 0.12 percent for the taker
  • from 24,000 to 60,000 BTC – 0.00 percent for the maker, 0.10 percent for the taker
  • from 60,000 to 120,000 BTC – 0.00 percent for the maker, 0.08 percent for the taker
  • over 120,000 BTC – 0.00 percent for the maker, 0.05 percent for the taker

Trading Platform

Poloniex is powered with good trading technology. The trading screen is supplemented with additional overlay indicators like Fibonacci, Bollinger bands and Moving Average (both simple and exponential). Though overall functionality is limited comparison to Primecrypto or Binance, the platform strikes a good balance for both beginners and pro traders.

poloniex platform

As we mentioned in the first paragraph the platform offer 4 main markets:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Monero (XMR)
  • Tether (USDT)

Below each of the target markets there is box listing all cryptocurrencies available for trading against the target market. Trading platform makes a good impression in general and is working fast.

Is Poloniex safe?

We have managed to track quite a significant volume of negative reviews and complaints accumulating recently. Many comments barefacedly Poloniex of dishonest practices while other called them an outright scam. For example, some users blamed the exchange for artificially inflating the price of some of the digital currencies and then dumping it at the right moment to capitalize on the price hikes. There is no proof of such practices taking place there and as we all know every big organization like Poloniex faces lots of negativity and criticism.

Much in the same way as other exchanges a 2-sector authentication is required for logging in to trading account while withdrawal request will not be processed without e-mail confirmation.

Exchange is not officially licensed in the US while mostly targeting the US customers and has a history of unfortunate hacking accident in 2014 when perpetrators snatched 12% of company’s BTC storage.

Based on the abovementioned, we would advise taking additional caution when dealing with Poloniex.

Poloniex vs. Prime Crypto


has a better range of cryptocurrencies than Prime Crypto.

Prime Crypto…

offers much better customer service, security and a range of payment options not available on Poloniex.

  • Bitcoin
  • Bitcoin Cash
  • Bitcoin Gold
  • Bitcoin Dark
  • Ethereum
  • Dash
  • Nxt
  • ZCash
  • Counterparty
  • And 100+ others
Alen Mathews

Alen Mathews

Alen is a professional cryptocurrency trader. His commitment to help potential investors to choose the right broker is unmatched. Alen successfully tested numerous cryptocurrency exchanges which helped him gain precious knowledge and insight necessary for understanding how to compare them properly. Alen has also been very active scoping for comments online to deliver unmatched user experience to potential investors.


BrokersCurrenciesRatingMinimum DepositSupport
0.001 BTC

Poloniex vs. Prime Crypto


has a better range of cryptocurrencies than Prime Crypto.

Prime Crypto…

offers much better customer service, security and a range of payment options not available on Poloniex.