Poloniex

Poloniex was founded in the state of Delaware, USA, in 2014. This is one of the world’s leading cryptocurrency exchanges. Users who want an unparalleled selection of altcoin trading pairs will enjoy Poloniex.

The exchange offers a secure trading environment with more than 100 different Bitcoin cryptocurrency pairings and advanced tools and data analysis for advanced traders.

Fees

Fees are different depending on if you are the maker or the taker. For makers, fees range from 0 to 0.15%, depending on the amount traded.

For takers, fees range from 0.10 to 0.25%. There are no fees for withdrawals beyond the transaction fee required by the network.

Security

Poloniex was hacked in 2014 due to the fact that the hacker discovered an exploit in their software. It was reported that 12.3 percent of all bitcoins were lost. The software has been fixed and  a response deemed by the community as satisfactory was provided. Since then there have been no serious hacks

Pros

  • Easy account creation
  • User-friendly interface
  • Low trading fees
  • Open API

Cons

  • No fiat support
  • Slow customer service

 

One of the unique tools on the Poloniex platform is the chat box which is constantly filled with user help and just about everything. Any user can write almost anything but inappropriate comments are eventually deleted by moderators. It can sometimes be hard to distinguish the good advice from the bad, but the Chatbox is a great tool that will keep you engaged.

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