Poloniex Review 2023: A Coin To Watch During The Next Bull Run
Poloniex has a wide selection of altcoins and is good for experienced cryptocurrency traders. It’s also a good option for beginners looking to experiment with trades as issues can be quickly resolved in the support section.
Take a look at our in-depth analysis of this broker.
What Is Poloniex?
Poloniex is a U.S.-based cryptocurrency exchange that has been operating since 2014. It offers a wide variety of coins, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Monero (XMR). Poloniex is one of the oldest active exchanges in the crypto space and has been around since before most people even heard of cryptocurrencies.
Poloniex has an extremely experienced team behind it who have been involved in the crypto space for years. They also have strong relationships with many other exchanges and are considered by many to be one of the most reliable and trustworthy options for trading cryptocurrencies.
Take a look at our in-depth analysis of this broker.
Poloniex & Its Recent History
Poloniex is a cryptocurrency exchange that has been around since 2014. It offers a wide range of digital currencies and allows users to trade them.
The company operates in the US, Canada, Europe, and Australia. Poloniex offers crypto-to-crypto trading, which means that you need to own bitcoin (or any other cryptocurrency) before you can buy another one. The platform also supports margin trading for advanced traders and has an API for developers who want to build their own applications on top of it.
Is Poloniex Safe? Poloniex Is Good?
The Poloniex Exchange is a good place to keep your cryptocurrency. The exchange has been around since 2014, and it’s one of the oldest and most trusted exchanges on the market.
It’s easy to use, with a simple interface and a clean design that makes it easy for anyone to navigate. The company also offers great customer service, so if you ever have an issue with your account or any other problem, they’ll be there to help you out. They also offer some of the lowest fees in the industry!
Take a look at our in-depth analysis of this broker.
How To Open An Account
To open an account with Poloniex, you’ll need to go through a KYC process.
First, you’ll need to create a Poloniex account by clicking “Register” on the top-right of the screen. Follow the prompts and enter your email address, password, and date of birth.
Next, you’ll need to verify your identity. You can do this by submitting one form of ID such as your driver’s license or passport in order to verify your name and address.
Finally, you can deposit funds into your Poloniex account by sending crypto from another exchange or wallet service such as Coinbase or Binance.
What is Tron?
Tron is a blockchain-based open source protocol for the global digital entertainment industry. It aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, subscription and push of contents and enables content creators by releasing, circulating and dealing with digital assets, thus forming a decentralized content entertainment ecosystem.
The Tron network is an open-source blockchain based platform that aims to be a decentralized entertainment ecosystem. The goal of the Tron Foundation is to create a platform where content creators can freely publish, store, and own their data without relying on third parties like YouTube or Facebook.
Finding a Tron Wallet
The Tron (TRX) token has been on a rollercoaster ride for the past few months. Currently, the coin is trading at $0.031, down from its all-time high of $0.34 in early January. However, there are signs that things are turning around for TRX.
One of these signs is the launch of the Tron Virtual Machine (TVM) in late May 2019. This development means that developers can now build decentralized applications (dApps) on top of the Tron network and earn rewards in TRX tokens.
Another sign is that TRX is listed on Poloniex, one of the largest cryptocurrency exchanges in the world. This means investors can purchase TRX directly using US dollars or other fiat currencies such as Euro or British Pound Sterling without having to first buy Bitcoin or Ethereum using their credit cards or other payment methods then exchange it for TRX tokens which would be expensive if not impossible due to high fees charged by exchanges like Coinbase Pro where you can only buy cryptocurrencies with fiat currency like USD which makes it very expensive when compared to buying directly from an exchange like Poloniex where there are no fees.
Take a look at our in-depth analysis of this broker.
Supported Cryptocurrencies
Poloniex supports hundreds of cryptocurrencies, including some of the most popular altcoins, such as Ethereum, Litecoin and Ripple. The exchange also provides access to other major coins, including Bitcoin Cash (BCH) and Bitcoin Gold (BTG). Although Poloniex does not support fiat currencies, it allows you to trade in USDT (Tether), which is backed by US dollars.
Deposit And Withdrawal Methods
Deposit and Withdrawal Methods
Poloniex offers a wide range of deposit and withdrawal methods. The most popular are fiat, BTC, ETH, and XRP. The minimum amount for deposits is $20 USD equivalent in any cryptocurrency. There is no minimum withdrawal amount. Poloniex offers a variety of payment methods for depositing and withdrawing funds including ACH bank transfers, SEPA transfers, credit/debit card purchases (Visa/Mastercard), PayPal, Skrill (Moneybookers), Neteller, OKPay, Yandex Money, QIWI and more.
Take a look at our in-depth analysis of this broker.
Mobile App Availability
The Poloniex mobile app is very easy to use. In fact, it’s probably one of the most straightforward crypto wallets on the market. The app gives you access to all the same features as its desktop counterpart, including the ability to buy and sell cryptocurrencies.
You can also use Poloniex’s mobile app as a backup device or as an alternative way of accessing your funds when you’re not at home or work. It’s worth noting that despite its ease of use, Poloniex hasn’t yet rolled out any new features for its mobile wallet—but we expect that to change in the near future.
How To Buy And Sell Crypto On Poloniex
Like most other cryptocurrency exchanges, Poloniex does not offer a direct way for users to buy or sell their coins. Instead, they allow users to use other websites such as ShapeShift and Changelly that connect buyers directly with sellers.
On Poloniex, you can only trade between cryptocurrencies (no fiat currencies). This means that if you want to buy BTC with USD, you will have to first convert your USD into BTC before trading on Poloniex. This process can take some time depending on how busy the network is at any given moment in time because both ShapeShift and Changelly require several confirmations before they release funds from escrow accounts.
Take a look at our in-depth analysis of this broker.
There is no reason to trade on this exchange.
For whatever reason, the Poloniex trading platform is best avoided by all but the most experienced cryptocurrency traders. While they offer a wide variety of altcoins to trade, their extremely high exchange fees and lack of customer service make them one of the worst choices in the business. If you are looking for a marketplace to buy and sell cryptocurrencies, CoinMarketCap is certainly a better option.
| wdt_ID | # | SYMBOL | Forex Broker | Website | Year | Regulation |
|---|---|---|---|---|---|---|
| 1 | 1 |  | FBS | Open an Account | 2.009 | IFSC, CySEC, ASIC, FSCA |
| 2 | 2 |  | EXNESS | Open an Account | 2.008 | CySEC, FCA |
| 3 | 3 |  | OCTA FX | Open an Account | 2.008 | SVG |
| 4 | 4 |  | INSTA FOREX | Open an Account | 2.007 | VI FSC, CySec |
| 5 | 5 |  | FX OPEN | Open an Account | 2.008 | CySEC, FCA |
| 6 | 6 |  | AXI | Open an Account | 2.008 | CySEC, FCA |
| 7 | 7 |  | FX PRIMUS | Open an Account | 2.008 | CySEC, FCA |
| 8 | 8 |  | HFM | Open an Account | 2.010 | CySEC, FSC, FSB, FCA, BaFin, DFSA |
| 9 | 9 |  | FXTM | Open an Account | 2.011 | CySEC, FCA, IFSC |
| 10 | 10 |  | JUST FOREX | Open an Account | 2.012 | IFSC |
| 11 | 11 |  | CAPITAL.COM | Open an Account | ||
| 12 | 12 |  | TASTY WORKS | Open an Account | ||
| 13 | 13 |  | MOOMOO | Open an Account | ||
| 14 | 14 |  | AVATRADE | Open an Account | 2.006 | MiFiD, CBI, FSA, ASIC, SFB, BVI, ADGM, FSRA, CySEC |
| 15 | 15 |  | EASY MARKETS | Open an Account | 2.001 | CySEC, MiFID, ASIC |
| 16 | 16 |  | EIGHT CAP | Open an Account | 2.009 | ASIC, VFSC |
| 17 | 17 |  | FP MARKETS | Open an Account | ||
| 18 | 18 |  | HYCM | Open an Account | 1.977 | CySEC, FCA, MiFID, DFSA, SFC |
| 19 | 19 |  | ICMARKETS | Open an Account | ||
| 20 | 20 |  | IRON FX | Open an Account | 2.010 | FCA, ASIC, FSCA, CySEC |
| 21 | 21 |  | LITE FINANCE | Open an Account | ||
| 22 | 22 |  | REVOLUT | Open an Account | ||
| 23 | 23 |  | IG | Open an Account | ||
| 24 | 24 |  | MONETA MARKETS | Open an Account | ||
| 25 | 25 |  | AMARKETS | Open an Account | 2.007 | The Financial Commission |
| 26 | 26 |  | PEPPERSTONE | Open an Account | 2.010 | CYSEC, BAFIN, CMA, SCB, DFSA, ASIC, FCA |
| 27 | 27 |  | PLUS 500 | Open an Account | ||
| 28 | 28 | Open an Account | 2.014 | FCA UK, CySEC, FSA Seychelles | ||
| 29 | 29 |  | TMGM | Open an Account | ||
| 30 | 30 |  | TOP FX | Open an Account | ||
| 31 | 31 |  | TRADE NATION | Open an Account | ||
| 32 | 32 |  | TRADE 360 | Open an Account | 2.013 | CySEC |
| 33 | 33 |  | VANTAGE | Open an Account | 2.009 | CIMA, SIBL |
| 34 | 34 |  | VT MARKETS | Open an Account | ||
| 35 | 35 |  | XM | Open an Account | 2.009 | ASIC, CySEC, IFSC |
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Find out the best possible way to Earn Money Trading Cryptocurrency in Poloniex Review 2023.