Poloniex review 2024

Poloniex is a platform for trading cryptocurrency and it has a large range of coins available. It’s a simple platform without too many advanced features but that can make it a good place to start. Keep reading this review to learn more about Poloniex and whether you should sign up for an account.

What can I do with Poloniex?

With Poloniex you can buy and sell over 150 cryptocurrencies, more than 270 pairs, and even about a half dozen future contracts. It offers a fair range of trading tools and charting features, including various order types and customisable charts.

It offers a consistent experience whether you prefer trading online or via your mobile phone as everything is accessible on one screen and seamlessly scales up or down for every device. Poloniex was first launched in 2014 by Tristan D’Agosta and has since grown to regularly have daily trading volume in excess of $100 million.

Poloniex cryptocurrencies and trading options

What cryptocurrencies can you trade on Poloniex?

There is a large range of coins available on Poloniex. With more than 150 in total, all of the top coins are available, which means you can trade everything from Bitcoin, Ethereum, and Litecoin down to small-cap altcoins.

Major cryptos traded on Poloniex

• Bitcoin
• JUST Stablecoin
• Ethereum
• CyberVeinToken
• Tron,
• Litecoin
• Monero
• XRP
• Bitcoin Cash
• Tether
• Bitcoin SV
• Dash
• Stellar
• Chainlink
• Stratis
• PARSIQ
• bitCherry
• Zcash
• EOS
• Cosmos

Poloniex core currency pairs

• ETH/BTC
• XMR/BTC
• LTC/BTC
• DASH/BTC
• TRX/BTC
• STR/BTC
• JST/TRX
• STRAT/BTC
• ETC/BTC
• ATOM/BTC
• EOS/BTC
• ZEC/BTC
• LINK/BTC
• AVA/BTC
• BTS/BTC
• AVA/TRX
• EXE/BTC
• REN/BTC
• ZEC/ETH
• SC/BTC

All Poloniex trading options

Poloniex offers a great range of crypto coins, tokens, and pairs to get started with and also throws in Bitcoin, Ethereum and other perpetual futures.

Can I trade with leverage on Poloniex?

Poloniex offers leverage on all of its futures products, up to 100x. Please keep in mind that trading with leverage carries a high degree of risk and the overwhelming majority of traders that employ leverage lose money.

What are the spreads?

Instead of commission spreads on each trade, Poloniex charges fixed maker/taker fees on each transaction. These depend on your 30 day trading volume, but start at 0.125% on each side for monthly volumes under $50,000.

Fees, limits, and payment options on Poloniex

What are the deposit and withdrawal fees, limits, and speeds?

Poloniex offers a limited number of payment options, but they do not charge any fees for depositing crypto into your account and the only fee you will pay on withdrawals is a fixed fee per asset to cover the cost of broadcasting a transaction to the network.

Poloniex trade sizes and limits

Poloniex does not advertise any hard and fast order minimums, instead it recommends that order sizes should start at $10-$25 USD equivalent and go up from there. This is a more generous policy than most brokers we have seen, who impose fixed minimums/maximums.

Poloniex trading platform

What devices can I use Poloniex on?

Poloniex offers web, desktop, and mobile crypto trading apps. The mobile app has full trade, deposit, and withdrawal capabilities for both Android and iOS devices.

• PC
• Mac
• Tablet
• iOS mobile devices
• Android mobile devices

Can I use Poloniex in my country?

Poloniex currently supports over 190 countries, including the UK, Taiwan, Spain, and Australia. You can select your country from the list below to see if the service is available to you.

Is Poloniex available in my language?

Poloniex’s website currently supports a total of five languages, including English, Chinese, Russian, Vietnamese, and Turkish. While its apps support some additional languages besides these. Select your language from the list below to see if it is available to you.

How easy is it to use Poloniex?

Poloniex provides a clean and relatively un-cluttered trading platform for buying/selling a wide range of crypto coins and tokens. 

It features multiple easy to locate and use trade indicators, such as oscillators, Bollinger Bands, and other legacy trade gauges. The mobile app also offers almost all of the features of the full trading platform and all of the same capabilities along with a more modern interface.

Key features

Poloniex is an exchange where you can buy, sell, trade, store crypto and also do a few other things on as listed below.

Crypto lending

Lend up to 19 crypto assets and earn interest directly into your account, as an alternative way to earn without trading.

Over 150 coins & 5 base currencies

Poloniex offers one of the largest altcoin and token rosters anywhere and several currency options for funding your account, including USD, EUR, GBP, and others.

Futures API

Poloniex provides both an API and Feeds for interacting with their futures exchange. Their documentation provides a detailed explanation of how to get market data in order to build your own custom trade setup.

Security and regulation

Is Poloniex safe?

Yes, Poloniex offers several security features including self-freeze email, which will send an email to your account with a link to freeze your account if a login from a new IP address is detected. Two-Factor Authentication (2FA) for every login attempt, and encryption.

Am I and my cryptocurrency protected?

While Poloniex deposits are not protected by any form of deposit insurance, it does have an insurance fund which is a reserve pool that the system can dip into in order to protect traders from negative equity and being held accountable for excessive loss.

Is Poloniex regulated?

While Poloniex is headquartered in Wilmington, Delaware, it is not regulated by any U.S. or other financial authority at this time.

Do I have to verify my account with Poloniex?

Yes, Poloniex uses an automated system to verify customer information and you will need to upload both a clear, valid photo ID, a secondary ID with your residential address such as a utility bill, and take an acceptable verification photo with a handwritten paper next to your face reading ‘POLONIEX’.

Extra information

Educational resources 

Poloniex offers a very basic Futures 101 section, which covers the fundamentals of what futures and leverage are and an FAQ section answering most site and platform related technical questions.

Tools and charting

Poloniex provides a standard, modern platform to buy, sell, and trade crypto with different time frames, trading indicators such as oscillators and ranges, and various candle and baseline charts.

Customer support

Poloniex’s support only extends to submitting a ticket and waiting for a reply, with no live chat or phone support currently being offered.

Our verdict

Poloniex provides a global cryptocurrency exchange with access to over 150 coins and tokens, futures trading, and crypto lending. The trading interface is simple yet easy to use and while there aren’t many advanced trading features, it does offer users the option of building custom applications through its API.

The support options are limited to submitting a support ticket online or the platform’s built-in Trollbox chat, which is moderated by members of Poloniex’s support team. Nonetheless, if you are looking for a simple exchange to buy and sell a wide variety of crypto coins without many frills, Poloniex is for you.