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Poloniex Review

Last Updated on January 31, 2024

James Headshot
Written by
Adam Headshot
Edited by
Poloniex logo
2.74
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit Poloniex

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Poloniex stands out as an active trading platform with a commitment to serving its user base efficiently. With a thoughtful combination of trading options, fee structures, and support systems, it provides a solid exchange experience.

The exchange fosters a community that can trade, lend, and stake crypto assets in a secure and user-friendly environment, which is an attractive proposition for those looking to engage with the cryptocurrency market.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • Wide range of cryptocurrencies available
  • Advanced trading features and tools
  • Margin trading with multiple leverage options
  • Decentralized exchange options through Poloni DEX
  • Strong security measures in place

Cons

  • History of customer service complaints
  • No fiat currency trading pairs
  • Has experienced security breaches in the past
  • Not as user-friendly for beginners
  • Limited information and transparency regarding corporate structure

Quick Summary

Headquarters Location Boston, Massachusetts, USA
Fiat Currencies Supported (through third party apps) USD, AUD, GBP, CAD, EUR, NZD + 86 others
Total Supported Cryptocurrencies 402+
Trading Fees 0.09% - 0.12%
Deposit Methods Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Apple Pay, Google Pay, Mercuryo, Simplex
Support Twitter, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Poloniex has been a known name in the cryptocurrency space for quite some time. Offering a variety of services for both beginners and seasoned traders, this platform has made a significant mark on the crypto trading landscape.

Poloniex homepage

In this review, we delve into various aspects of Poloniex, examining its offerings, user interface, and support systems without entering the realms of security and compliance just yet.

Poloniex has firmly established itself as a prominent figure in the realm of crypto trading, offering a comprehensive suite of services that cater to a diverse spectrum of users. The platform has seen a remarkable evolution since its early days, continuously adapting to the evolving needs of the cryptocurrency community.

With a focus on inclusive growth, Poloniex has managed to provide a balanced environment that supports both the novice and the adept trader. This expanded introduction builds on Poloniex’s identity, shedding light on the platform’s progress while considering the broader context in which it operates.

About Poloniex

Originally a startup from the Czech Republic, Poloniex has evolved into a significant player among cryptocurrency exchanges globally. Since its inception, the platform has expanded its services, catering to a diverse user base keen on tapping into the digital asset exchange.

Poloniex’s historical journey is dotted with growth and technological advancements, positioning it as more than just a place for trading; it’s a hub where crypto enthusiasts can engage with a wide array of digital currencies.

Poloniex features

The trajectory of Poloniex is a testament to the dynamic nature of the cryptocurrency industry. The exchange’s roots in the Czech Republic represent a narrative of innovation and expansion that resonates with the overarching trends of the market.

As digital currencies began to capture the imagination of the global populace, Poloniex was among the entities that stepped forward to bridge the gap between burgeoning interest and actual investment opportunities. The landscape of digital asset exchange has been shaped in part by the agility and foresight of platforms like Poloniex, which have navigated market fluctuations and technological shifts to serve an ever-growing user base.

Poloniex has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Reddit and Telegram.

Poloniex has a mobile app on both the Apple App Store and Google Play.

Poloniex Supported Cryptocurrencies

Poloniex supports trading on over 402 cryptocurrencies on their platform. This exchange currently supports 26 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • XRP (XRP)
  • USDC (USDC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • TRON (TRX)
  • Chainlink (LINK)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Toncoin (TON)
  • Shiba Inu (SHIB)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Internet Computer (ICP)
  • Dai (DAI)
  • Immutable (IMX)
  • UNUS SED LEO (LEO)
  • Cosmos (ATOM)
  • Bittensor (TAO)
  • Aptos (APT)
  • Filecoin (FIL)
  • Ethereum Classic (ETC)
  • Stacks (STX)
  • NEAR Protocol (NEAR)

View all cryptocurrencies Poloniex supports

  • AAVE
  • ACM
  • ADA
  • AFC
  • AGIX
  • AGLD
  • AIDOGE
  • AIMBOT
  • AITECH
  • AKITA
  • AKRO
  • ALI
  • ALICE
  • ALPACA
  • ALPHA
  • AMC
  • AMP
  • APE
  • API3
  • APT
  • APX
  • ARB
  • ARDR
  • ARG
  • ASR
  • ATM
  • ATOM
  • AUDIO
  • AVA
  • AVAX
  • AXS
  • BABYDOGE
  • BABYPEPE
  • BAD
  • BADGER
  • BAL
  • BAM
  • BANANA
  • BAND
  • BAR
  • BAT
  • BCH
  • BCHSV
  • BEN
  • BERC
  • BIBI
  • BIG
  • BIT
  • BITCI
  • BLUR
  • BLY
  • BNB
  • BOB
  • BOBA
  • BOBO
  • BOND
  • BONE
  • BONK
  • BPD
  • BRISE
  • BSWAP
  • BTC
  • BTC2
  • BTM2
  • BTP
  • BTRST
  • BTS
  • BTT
  • BURGER
  • C98
  • CAKE
  • CAPO
  • CAPY
  • CARMIN
  • CAW
  • CEL
  • CGPT
  • CHAD
  • CHR
  • CHZ
  • CITY
  • CLV
  • COCO
  • COLLAB
  • COMP
  • CORE
  • COREUM
  • CRV
  • CTSI
  • CUDOS
  • CULT
  • CVC
  • CVP
  • CVT
  • CVX
  • DAI
  • DASH
  • DAWN
  • DCR
  • DEDE
  • DIA
  • DOBO
  • DOGE
  • DOGE2
  • DONS
  • DORA
  • DORKL
  • DOS
  • DOT
  • DUMMY
  • DUSK
  • DYDX
  • EFI
  • ELON
  • ENJ
  • ENS
  • EOS
  • ERN
  • ESD
  • ETC
  • ETH
  • ETHW
  • FACTR
  • FARM
  • FCT2
  • FERC
  • FET
  • FIDA
  • FLOKI
  • FLR
  • FOOM
  • FOUR
  • FRAX
  • FRONT
  • FTM
  • FTT
  • FUMO
  • FUND
  • FXS
  • GALA
  • GDX
  • GENSLR
  • GFT
  • GHST
  • GLM
  • GMEE
  • GMMT
  • GMX
  • GNS
  • GOLD1
  • GPT
  • GRAIL
  • GRT
  • GTC
  • HAM
  • HAMS
  • HARRY
  • HEX
  • HFT
  • HIFI
  • HOPPY
  • HT
  • HUNT
  • ICP
  • ID
  • IGU
  • IMGNAI
  • IMX
  • INJ
  • INU
  • JARED
  • JESUS
  • JST
  • JUV
  • KCS
  • KDOE
  • KING
  • KLV
  • KNC
  • KON
  • KUB
  • L
  • LADYS
  • LAZIO
  • LBR
  • LDO
  • LIMO
  • LINK
  • LIVE
  • LOKA
  • LOVESNOOPY
  • LPT
  • LQTY
  • LRC
  • LSK
  • LTC
  • LUNA
  • LUNC
  • LVL
  • LZM
  • MANA
  • MASK
  • MATIC
  • MATTER
  • MAV
  • MDT
  • MEMEME
  • MESSI
  • METIS
  • MKR
  • MLN
  • MMT
  • MOG
  • MONG
  • MPWR
  • MUTE
  • MVL
  • NEAR
  • NEO
  • NEXO
  • NFT
  • NONE
  • NVIR
  • NYM
  • OCEAN
  • OG
  • OGGY
  • OGN
  • OM
  • ONSTON
  • OP
  • ORDI
  • OX
  • PAPI
  • PAW
  • PC
  • PENDLE
  • PEOPLE
  • PEPE
  • PEPE2
  • PEPEAI
  • PERL
  • PERP
  • PLANET
  • PMAN
  • PNDC
  • POGAI
  • POLIS
  • POLS
  • POLY
  • POLYDOGE
  • POOH
  • POOLX
  • POP
  • POR
  • PORTO
  • PRQ
  • PSG
  • PSI
  • PYR
  • QTUM
  • QUICK
  • RACA
  • RARI
  • RBN
  • RCKT
  • RDNT
  • REEF
  • REKT
  • REN
  • RFD
  • RFR
  • RIBBIT
  • RIF
  • RING
  • RIO
  • RLB
  • RLTM
  • RNDR
  • ROCK
  • ROOK
  • RPL
  • RSR
  • RUG
  • RUNE
  • RXT
  • SAITAMA
  • SAMO
  • SAND
  • SANTOS
  • SATS
  • SC
  • SCAM
  • SDAO
  • SENSO
  • SHARES
  • SHEPE
  • SHIA
  • SHIB
  • SHIB2
  • SHIB42069
  • SIMPSON
  • SLP
  • SMURFCAT
  • SNX
  • SOL
  • SOLO
  • SOS
  • SOV
  • SPELL
  • SPONGE
  • SPURDO
  • SRM
  • SSV
  • STEEM
  • STG
  • STMX
  • STORJ
  • STPT
  • STT
  • SUDO
  • SUI
  • SUN
  • SUPER
  • SUSHI
  • SWAP
  • SWFTC
  • SWINGBY
  • SXP
  • TEST
  • TIP
  • TITAN
  • TITTY
  • TLM
  • TOKAMAK
  • TOKE
  • TOMI
  • TON
  • TORN
  • TOSHI
  • TRB
  • TRR
  • TRU
  • TRX
  • TSUKA
  • TURBO
  • TUSD
  • UMA
  • UNI
  • UNIBOT
  • UPP
  • USDC
  • USDD
  • USDJ
  • USDT
  • USH
  • UT
  • VELO
  • VEXT
  • VGX
  • VINU
  • VMPX
  • VOLT
  • VOW
  • VRA
  • WBTC
  • WEWE
  • WFAI
  • WIFI
  • WIN
  • WINR
  • WLD
  • WNCG
  • WNXM
  • WOJAK
  • WOO
  • WPEPE
  • WRX
  • WSB
  • WSTREETBABY
  • WSTUSDT
  • X
  • XCAD
  • XCN
  • XEC
  • XEM
  • XEN
  • XLRT
  • XMR
  • XRP
  • XRP8
  • XTOKEN
  • XTZ
  • XVS
  • XYM
  • YFI
  • YFII
  • YGG
  • ZBC
  • ZEC
  • ZKS
  • ZRX

Trading Experience

Poloniex provides a user-friendly platform that appeals to a wide spectrum of trading experiences. From its intuitive interface to the variety of trading features such as margin trading and futures trading, the exchange accommodates the needs of the cryptocurrency community effectively.

It’s designed to support both quick and complex trading operations, making it a suitable option for cryptocurrency enthusiasts across the board.

In the ever-competitive landscape of cryptocurrency exchanges, Poloniex distinguishes itself with a trading experience that is tailored to support users regardless of their experience in trading. The platform offers a spectrum of trading options, from simple spot trading to the complexities of perpetual swap contracts and futures trading.

Access to margin trading further enhances the appeal for those looking to leverage their positions. Such a variety ensures that users, from those taking their first steps to the most experienced traders, find a conducive environment that matches their trading level and strategic preferences.

Poloniex exchange marketing

Poloniex Fees

The fee structure at Poloniex is crafted to cater to a broad range of trading activities without overwhelming the users. It employs a tier-based approach, where the costs associated with transactions can vary depending on factors like trading volume and market dynamics.

The absence of specific numbers here allows us to focus on the fact that, generally, this platform strives to maintain competitive fees that aim to be among the lowest in the industry.

Poloniex’s fee structure reflects an understanding of the diverse economic activities that characterize the crypto trading ecosystem. With a model designed to accommodate users irrespective of their trading volume, the platform manages to provide an equitable environment for all participants.

This approach to transaction costs speaks to a broader philosophy within the exchange, one that values accessibility and fairness. While specific numbers are set aside, the overarching aim is to keep fees manageable, enabling users to maximize their engagement with an array of trading options.

Type Fee
Deposit Fee (Bank Transfer) 3.95%
Deposit Fee (Credit/Debit Card) 3.50% - 5%
Trading Fee 0.09% - 0.12%
Withdrawal Fee (Bank Transfer) 1%

Poloniex supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.0005 BTC compared to the industry average of 0.000075 BTC. So Poloniex has a fee that is above the industry average by 566.67%.

Poloniex has a maker/taker fee schedule which you can see below.

Level
30-Day Spot Trading Volume
30-Day Futures Trading Volume
Total Balance
TRX Balance
Maker/Taker
Maker/Taker (Pay with TRX)
VIP 0 $0 $0 $0 $0
0.2000%/0.2000%
0.1400%/0.1400%
VIP 1 $10,000 $100,000 $2,000 $100
0.1150%/0.1250%
0.0805%/0.0875%
VIP 2 $80,000 $2,000,000 $4,000 $10,000
0.1050%/0.1200%
0.0735%/0.0840%
VIP 3 $500,000 $5,000,000 $10,000 $50,000
0.1000%/0.1200%
0.0700%/0.0840%
VIP 4 $1,000,000 $10,000,000 $200,000 $100,000
0.0900%/0.1200%
0.0630%/0.0840%
VIP 5 $2,000,000 $20,000,000 $400,000 $500,000
0.0700%/0.1150%
0.0490%/0.0805%
VIP 6 $5,000,000 $50,000,000 $1,000,000 $1,000,000
0.0600%/0.1150%
0.0420%/0.0805%
VIP 7 $10,000,000 $100,000,000 $8,000,000 $100,000,000
0.0500%/0.1100%
0.0350%/0.0770%
VIP 8 $20,000,000 $500,000,000 $16,000,000 $200,000,000
0.0000%/0.1000%
0.0000%/0.0700%
VIP 9 $50,000,000 $1,000,000,000 $30,000,000 $400,000,000
-0.0050%/0.1000%
-0.0050%/0.0700%

Security - Is Poloniex Safe?

Discussing the security of Poloniex, it’s evident that the exchange takes regulation and safekeeping seriously. It employs a robust security framework which includes measures like cold storage for funds and a stringent verification process to safeguard users’ interests.

Such features highlight the exchange’s commitment to maintaining a secure environment for trading and transactions.

The commitment of Poloniex to security cannot be overstated. In an industry that is often under scrutiny for its security measures, the exchange has built a formidable defence against potential threats.

By incorporating a multilayered security protocol that includes advanced measures such as withdrawal authorization by email confirmation, and monitoring of IP address activity, Poloniex has demonstrated a proactive approach to protect its user base. This focus on security not only assures users of the safety of their digital assets but also underlines the exchange’s reputation as a trustworthy platform amidst the myriad of choices in the crypto market.

Poloniex Customer Support

When it comes to customer support, Poloniex showcases a commitment to excellent service. With support channels ranging from email tickets to a comprehensive FAQ section, users can expect responsive and helpful assistance.

This dedication to customer service is crucial in an industry where timely support can be the difference between a positive and a negative trading experience.

The customer support system at Poloniex is a critical facet of the platform’s overall service offering. With a dedicated team to address queries through email tickets, the exchange ensures that users receive timely and accurate assistance.

Understanding the importance of swift support in trading decisions, Poloniex has invested in a robust infrastructure that helps in maintaining excellent services. The availability of comprehensive customer support is a cornerstone that fortifies the trust users place in an exchange, especially when it comes to managing money and investments in the volatile crypto market.

Poloniex support

Poloniex Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on Poloniex

  1. Create Account - Visit the Poloniex website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you can deposit using the methods listed below. Note that this exchange only supports depositing fiat currencies through third party apps it supports.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • Mercuryo
  • Simplex

Poloniex Alternatives

Binance logo

Binance

3.27
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
359+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 78 others

Visit Binance
Kraken logo

Kraken

3.67
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
233+

Trading Fees
0.06% - 0.16%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other

Visit Kraken
OKX logo

OKX

3.75
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
332+

Trading Fees
0.06% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX

Final Thoughts

Reflecting on what Poloniex has to offer, it’s clear that the exchange is committed to providing a comprehensive service that aligns with market expectations. By delivering a seamless trading experience coupled with a suite of options to engage with the market, Poloniex is an exchange that deserves attention from anyone interested in the crypto space.

If you’re interested in seeing how Poloniex stacks up against other crypto exchanges, view our articles comparing Binance vs Poloniex and Poloniex vs Kraken.

Poloniex FAQs

Poloniex is a cryptocurrency exchange that has been operating since 2014. Like any online platform, its safety can largely depend on the security measures it takes and the operational practices it follows.

Users should always exercise caution and utilize all available security features such as two-factor authentication. Additionally, it’s important to stay informed on the exchange’s operational status and any changes in regulatory compliance.

As of writing this, there was no official announcement from Poloniex regarding a complete shutdown. However, it’s essential for users to keep up to date with official communications from Poloniex for the latest information.

To cash out from Poloniex, you would typically need to make a withdrawal to a wallet or bank account. This involves selling your cryptocurrency for a fiat currency if available on the platform, and then withdrawing the fiat currency to your bank account.

Be sure to verify the current procedures on Poloniex’s support or FAQ pages as processes may vary or change over time.

Poloniex was originally based in the United States. However, in 2019, the exchange spun out from its previous owner, Circle, and is now operated by Polo Digital Assets, Ltd., which has ties to an international group of investors.

Users should refer to the official Poloniex website for current information on the location of its operations and legal jurisdiction.

The withdrawal fees on Poloniex can vary and are subject to change. It’s best to check Poloniex’s official website or fee schedule for the most current information on withdrawal fees for Bitcoin (BTC) and other cryptocurrencies.

Poloniex typically charges trading fees as well as withdrawal fees. The trading fees can be based on a maker-taker model and may vary depending on your trade volume.

Withdrawal fees depend on the specific cryptocurrency you wish to withdraw. For up-to-date details on the fees, users should consult the fee schedule available on the Poloniex website.

Poloniex experienced a security breach in March 2014. The incident led to a loss of 12.3% of its total bitcoins.

Since then, the exchange has reported improvements in security measures. Users should review the current security practices of the exchange and consider their personal risk tolerance when using any online platform.

As of writing this, Poloniex is not closed and continues to operate as a cryptocurrency exchange. Nevertheless, users should always verify the current status directly through official Poloniex channels.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: