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Poloniex Review
Published May 31, 2020
Jared McKinney

Headquarters: Wilmington, DE, USA

Description: Trade on the world's most active digital asset exchange.

Website: https://poloniex.com

24-hour trade volume: $614 M

Availability: US, Canada, Japan, Europe

Looking for the best bitcoin exchange in 2018? Check out our Best Bitcoin Exchange Guide to compare all of the top cryptocurrency exchanges side-by-side.

User Experience

Design

Yes...mostly –Poloniex boasts a simple, easy to understand navigation which makes getting started a breeze. Their exchange interface offers real-time updates of every trading pair and offers flexible dashboards for tracking prices over time. Placing orders is very intuitive and made sense right away. My least favorite part of their design is tracking my position over time. The deposits and withdrawals section that shows your gains and losses could be much more visual. It took some digging around in the platform to actually see if I was up or down on my original position.

Beginner-Friendly

Yes - Getting started is easy but tracking positions could be improved upon.

Documentation

Yes - Documentation exists but it should be improved upon. I searched for several articles regarding their security features and found very little.

Customer Support

I submitted a customer support request 72 hours ago and haven't received a response yet. This is consistent with many of the complaints I've heard of Poloniex.

Security

Verification Tiers

Poloniex verification requires your name, address, social, ID photo, and a verification photo of you holding a signed and dated paper. The entire verification process only took an hour or so and is mostly automated by Poloniex. After I was verified, margin trading was enabled and I automatically had a $25k withdrawal limit

2-Factor Authentication

Yes - via Google Authenticator

Insurance

No - The website and support documentation makes no reference to any type of insurance. However, I read a few anecdotal cases of Poloniex restoring hacked Bitcoin.

Storage

Yes - According to the website, the majority of customer deposits are stored offline in air-gapped cold storage.

Encryption

I couldn't find any mention of encryption in the support documentation or on the website

Payment & Fees

Fee Structure

Fees are charged based on your trade volume over the last 30 days. Learn more

Accepted Payment Methods

Cryptocurrencies Only. Poloniex is a crypto to crypto only exchange meaning you can only deposit and withdraw cryptocurrency.

Supported Cryptocurrencies / Trading Pairs

ETH/BTC

BTC/USDT

LTC/BTC

ETH/USDT

XMR/BTC

XRP/BTC

BCH/BTC

DGB/BTC

LTC/USDT

BCH/USDT

ETC/BTC

BTS/BTC

LSK/BTC

DASH/BTC

ETC/USDT

XRP/USDT

ZRX/BTC

SC/BTC

ZEC/BTC

XMR/USDT

NAV/BTC

XEM/BTC

STRAT/BTC

BURST/BTC

ZEC/USDT

GNT/BTC

SYS/BTC

BTCD/BTC

STR/BTC

FCT/BTC

MAID/BTC

DOGE/BTC

DASH/USDT

ZRX/ETH

PINK/BTC

BCN/BTC

NXT/BTC

NXT/USDT

GAME/BTC

POT/BTC

REP/BTC

BCH/ETH

VIA/BTC

ETC/ETH

STEEM/BTC

DCR/BTC

STR/USDT

LBC/BTC

ARDR/BTC

RADS/BTC

XBC/BTC

REP/USDT

GNT/ETH

ZEC/ETH

CLAM/BTC

AMP/BTC

GNO/BTC

VTC/BTC

EXP/BTC

FLO/BTC

LSK/ETH

FLDC/BTC

SJCX/BTC

REP/ETH

BTM/BTC

BLK/BTC

NEOS/BTC

XCP/BTC

VRC/BTC

NOTE/BTC

BELA/BTC

EMC2/BTC

NMC/BTC

PPC/BTC

NAUT/BTC

PASC/BTC

OMNI/BTCC

NXT/XMR

GRC/BTC

NXC/BTC

RIC/BTC

BCY/BTC

XPM/BTC

LTC/XMR

STEEM/ETH

SBD/BTC

XVC/BTC

HUC/BTC

BTCD/XMR

GNO/ETH

DASH/XMR

ZEC/XMR

BCN/XMR

MAID/XMR

BLK/XMR

Technology

Reliability

I haven't had any issues with reliability on their desktop website.

Mobile App

No — But they do have a fully-mobile version of the website.

Poloniex Alternatives

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