The company was founded in 2014 and it deals exclusively with cryptocurrency exchange. Therefore, any type of withdrawal and deposit is available only through cryptocurrency, while the fiat methods are not supported at all.
On the other hand, it involves currently more than 90 exchange pairs and a decent security.
If you are new to this type of activity, you should definitely avoid Poloniex as it is very detailed and aimed only towards more experienced users.
The platform has several security methods implemented but the safety measures are not at their highest. This is mainly due to the fact that many users reported critical issues such as lack of adequate customer support and difficulties with withdrawing funds.
What are the Users Saying about Poloniex?
The users generally love the conditions that Poloniex offers but do not rely much on the platform due to the numerous issues such as poor customer support, withdrawal problems, lack of transparency, etc
Poloniex is a cryptocurrency exchange platform based in Delaware. Although it is one of the sites with the highest volume, there are several negative things that will be mentioned in this review.
To sum up, Poloniex could become a great platform that focuses only on cryptocurrency when its team decides to fix the problems that back off the new users to join. Apart from that, it has great fees and people who like to constantly exchange one crypto for another will definitely like it.
Verification on the website is not difficult and it has the standard 2-point procedure.
The first point includes e-mail verification after you had entered your personal info.
The second point requires your personal info such as phone number and address, your government-issued ID and a picture-proof of your holding your ID.
Limits are changed according to your level of verification. The first stage verification accounts can deposit or withdraw up to $2000/day. When you go through the second stage of verification, the number goes up to $25,000/day
The fees on Poloniex are usually below 0.25% when it comes to exchanging cryptocurrency. There are no deposit fees and the withdrawal fees may be different depending on the currency that you wish to withdraw. Moreover, these withdrawal fees are usually the ones that are charged by the platform of that cryptocurrency rather than Poloniex.
How Do I Withdraw My Money from Poloniex?
Go to “Balances” in the upper right corner and click on “Deposits & Withdrawals” from the drop menu. Next, search for the desired cryptocurrency and click “Withdraw” next to it.
Enter your wallet address and the desired amount and click “Withdraw”. You will be asked to enter a six-digit Google Authenticator code.
When entered, you will be asked to check your e-mail for further instructions.
FIAT Deposit fee
CRYPTO Deposit fee
Fiat Withdrawal fee
Crypto withdrawal fee
< 600 BTC 0.25% ≥ 600 BTC 0.24% ≥ 1,200 BTC 0.22% ≥ 2,400 BTC 0.20% ≥ 6,000 BTC 0.16% ≥ 12,000 BTC 0.14% ≥ 18,000 BTC 0.12% ≥ 24,000 BTC 0.10% ≥ 60,000 BTC 0.08% ≥ 120,000 BTC 0.05%
Everything about their API documentation can be found on their API page. They put into the first plan their Push API through which you can get updated on public data regarding markets and set other relevant features to improve your exchange experience.
other withdrawal possiblity
CRYPTO CURRENCYrate (Live via API)
FIAT Withdrawal limit
Crypto withdrawal limits
Verification needed for crypto trade
Verification needed for fiat trading
Turnaround amount 24h
BTC; USDT; ETH; XRP; STR; LTC XRP; XMR; LTC; ETC; ETH; LSK BCH; ETC; OMNI; DOGE; BCH; STR XMR; XEM; SC; ZEC; DASH; BTS OMG ZRX; ZEC; STRAT; NXT; FCT DGB; MAID; NXT; GNT; ETC; LSK BCN; VTC; DASH; REP; DCR; BURST BCH; OMG; SYS; REP; GAS; STEEM VIA; LBC; GAME; ZRX; PASC; XCP CVC; LTC; GNO; EMC2; PPC; POT ZEC; GNT; STORJ; ARDR; NEOS EXP; NAV; ZEC; VRC; CLAM; REP GNO; FLDC; GRC; RIC; CVC; BELA NMC; XPM; BLK; PINK; BTM; FLO BCY; RADS; GAS; NXC; SBD; XVC XBC; STEEM; HUC; DASH; NXT; AMP MAID; BLK; BCN; BTCD; XMR; BTCD
- Great fees
- A wide variety of cryptocurrencies covered
- Bad customer support
- No fiat currencies
- Withdrawal issues
- Many user complaints