Poloniex was founded in January 2014 as a global cryptocurrency exchange. It provides spot trading, futures trading, staking, and various services to users in nearly 100 countries and regions with various languages available.
In 2022, Poloniex launched a brand new trading system to provide global retail and professional users with higher speed, as well as better stability and usability.
What is Poloniex?
Poloniex, founded in January 2014 by Tristan D’Agosta, is a centralized cryptocurrency exchange (CEX) renowned for its extensive altcoin offerings, supporting over 739 cryptocurrencies and 925 trading pairs, including Bitcoin (BTC), Ethereum (ETH), Tether (USDT), TRON (TRX), Solana (SOL), Dogecoin (DOGE), and Shiba Inu (SHIB). Registered in the Seychelles and backed by TRON founder Justin Sun since its 2019 spin-off from Circle, Poloniex reports a 24-hour trading volume of approximately $927.3 million, ranking among the top 40 exchanges globally, though its volume has declined from its peak in the mid-2010s. The platform serves users in nearly 100 countries, excluding the U.S., UK, Canada, and sanctioned regions like Cuba, Iran, and Syria, due to regulatory restrictions.
Poloniex provides a robust suite of trading options, including spot trading, margin trading with up to 2.5x leverage, and perpetual futures with up to 100x leverage, catering to both retail and advanced traders. Additional features include P2P lending, simplified staking for passive income (e.g., TRX, ATOM), and a trading terminal with real-time order books and limit orders. The platform supports crypto purchases via bank accounts, credit/debit cards, and ApplePay, but does not offer direct fiat deposits or withdrawals, relying on crypto-to-crypto trading. Its mobile app (iOS and Android) and web platform, integrated with Cryptohopper trading bots, offer over 500 trading pairs, a “DeFi Innovation Zone” for 85+ DeFi assets, and Poloniex Learn, a community hub for guides and analytics. Recent X posts promote new listings like Stool Prisondente (JAILSTOOL) and trading competitions, such as a $150 TRON Spot ETF giveaway, reflecting active engagement.
Security is a mixed bag. Poloniex employs two-factor authentication (2FA), cold storage, and an insurance fund, but its history includes significant breaches: a 2014 hack (12.3% of BTC stolen, fully reimbursed), a 2020 incident ($4M withdrawn via Exmo), and a major 2023 hack draining over $100M from hot wallets, with Justin Sun confirming reimbursement efforts and a 5% “white hat bounty” offered to the hacker. Regulatory challenges are notable, with a $10M SEC fine in 2021 for operating as an unregistered exchange, a $7.6M OFAC settlement in 2023 for 66,000 sanctions violations (2014–2019), and warnings from the UK’s FCA and Ontario’s OSC for unauthorized operations. User reviews are polarized: some praise low fees (0.01% maker, 0.075% taker) and asset variety, while others criticize an outdated interface, slow support, and liquidity issues, with a Traders Union score of 2.65/10. For traders seeking altcoin diversity and high-leverage futures outside restricted regions, Poloniex remains relevant, but its security and regulatory history demands caution.
What are the trading fees on Poloniex?
Poloniex uses a maker-taker fee model for spot trading, charging 0.200% for makers and 0.200% for takers at the base level in spot trading. Futures trading fees are starting from 0.0150% maker and 0.0500% taker fees. Crypto deposits and withdrawals are subject to network fees (e.g., 0.0005 BTC for Bitcoin), and third-party fiat purchases incur additional costs (e.g., 2% for card payments). Users should verify rates on Poloniex’s fee schedule at poloniex.com.
Does Poloniex offer leverage trading?
Yes, Poloniex offers leverage trading through margin trading (up to 2.5x leverage for select spot pairs) and perpetual futures (up to 100x leverage for assets like BTC, ETH, and TRX). Futures trading includes over eight crypto assets, with high leverage carrying significant liquidation risks. Leverage is unavailable in restricted regions like the U.S. Traders should use stop-loss and take-profit orders to manage risks.
