This is a Poloniex review that is brief but encompasses all the major and essential aspects of the platform. There are numerous factors you need to know about an exchange before you choose it. This is because there are several features that vary from one crypto exchange to another. This makes it difficult for crypto enthusiasts to choose an exchange immediately, especially if they are new to the crypto space.
This is why it is important and helpful for every potential crypto investor or trader to know the features offered by a platform so they can make an informed decision.
If you are interested in using the Poloniex exchange then here are a few factors you need to know about the platform.
Poloniex Review on Lending and Margin Trading
Margin trading and lending are two of the most important aspects that need to be discussed, especially for people who are new to the crypto space. There are only a few crypto exchanges in the market that offer these kinds of services to the users.
Margin trading is one of the most popular forms of crypto trading, which requires the users to have some familiarity with the concept and choose a suitable exchange. Margin trading is also called leverage trading in which you can borrow funds from your broker and place bigger trades. This gives rise to opportunities to get bigger profits but the benefits are not guaranteed and it can also result in huge financial losses.
Therefore, if you are interested in features such as lending and margin trading then you should use a platform that is suitable and secure, such as Poloniex. However, the limit available for both the features depend on:
- Overall funds of the users
- Type of user accounts
Low Trading Fee
Trading fee charged by an exchange is one of the most important factors that should not be overlooked, especially by people who are new to the crypto space. Similarly, you need to know the details of the fee charged by the exchange that are mentioned in this brief Poloniex review.
The fee structure is different for every crypto exchange and it does not always include straightforward and transparent fees. Sometimes the hidden charges are also applicable, which can put the reputation of the exchange and safety of the users at risk.
However, if you are interested in using the Poloniex exchange then you need to know that it offers one of the best and lowest fees structures. Here are the details of the fee.
- Fixed network fee
- Lending fee of 15%
- Margin trading fee for market makers: 0.01%
- Margin trading fee for market takers: 0.075%
- No deposit fee required
- No withdrawal fee required
A mobile application that is well-built is a major part of a crypto exchange that can be suitable for beginners and experienced traders alike. In this brief Poloniex exchange review, you can get to know that it has a fast trading mobile application available for all users.
This mobile application is fast and responsive, which makes it a selling point for people who have been interested in using the platform. The brief Poloniex review talks about all major aspects that can help a potential user in determining whether it is a suitable exchange for you or not.
Impressive Customer Support
One of the most prolific aspects of the Poloniex exchange is its customer support. A responsive and well-established team of experts that is available around the clock for the users can make quite the difference in the user experience offered by the platform.
A well-developed customer support system can help assist the users in time, which can make it easier for them to avoid unnecessary obstacles and challenges. The customer support aims to address all concerns and queries of the users through different social media channels, helpline number, website and more.
A brief Poloniex review can eliminate a lot of questions novice parties might have. In such a case, it is important to gather as much information as possible. One of the most important aspects to know about the Poloniex exchange is that it takes the security of its users very seriously.
Here are some of the security features used by Poloniex.
- Cold wallets vault
- Cryptographic DNS cache protection (Signature-based)
- DoS attacks protection
- IP lockouts
- Protection against strong attacks including robot infiltration
- Registry locks
- Role accounts for privacy protection
- Two-Factor Authentication
This exchange has also been licensed and regulated by financial services, which include:
A Poloniex review that talks about all the major aspects of a platform can help every potential user in making the right decision. If you also want to use this exchange for buying or trading crypto then you should have the details mentioned above.