Poloniex is a crypto for crypto exchange that’s headquartered in the US. Fiat-money deposits are not supported. The company came into being in 2014 but its owners have not come out in public yet. Poloniex was designated as the exchange with the highest liquidity and trade volume.
Although Poloniex was hacked in 2014, at present it is one of the most secure exchanges in the market.
Sensitive users may activate the two-factor authentication to ensure secure login. The platform has a firewall system that would block login attempts from gateways that are considered “harmful”.
The majority of customer’s wealth is stored in cold wallets, and so, hackers are helpless because they would not have access to the wallet.
The exchange undergoes routine audits, which helps to take notice of loops in the system, and so, it is quite hard for “anything weird” to go unnoticed, at least not for long.
Poloniex boasts high liquidity, which means it is easy to find a trading partner.
The exchange allows for margin lending, in which case, you may lend your balance to a trader, who will then pay back at an interest.
It also allows for margin trading, and in this case, the exchange would loan you an amount of cryptocurrencies which you are to pay back at the agreed interest.
Trading is made easy by the advanced tools on the platform like the Gantt chart that allows you to take a close look at the trade history, and thus, make better decisions.
Support is an integral feature for an online company.
Poloniex has been criticized in the past for poor support.
But at present, their support wing is fully fledged.
They have both live chat and submitting tickets.
Customers who have quick questions may utilize the live chat. However, customers whose questions or concerns are detailed should submit a ticket. Someone will get back to you.
Word on the street
Poloniex gets a fair rap. The exchange doesn’t have a history of freezing accounts on a whim like Coinbase. And also, when the company suffered a hack in 2014, although Poloniex had an opportunity to scam their customers, instead they covered the loss of their customers’ bitcoins and shifted the loss to the company.
Also, the company has some aura of mystery in that the owner or owners aren’t known!
If you’re looking to join a bitcoin exchange, Poloniex stands tall as the best choice. It offers security, high liquidity, and advanced tools.