The trading fee varies between 0.15% (for maker orders) and 0.25% (for taker orders). Those whose monthly trading volume is above $25,000 pay lower trading fees. Just like many other exchanges, Poloniex doesn’t collect deposit fees.
Welcome to the Poloniex US Support page!
Our over 15 years of experience in financial markets and high technical knowledge aid in precise and timely identifications. These revenue streams allow us to remain financially independent of advertisers, enabling us to provide all services with maximum transparency. Among the financial service providers, there are fraudsters that we promptly report. Feedback and rankings from authoritative sites like “Trustpilot” on the TradingFinder website assist all traders.
Complete training in financial markets such as “Forex,” “Stock Market,” and “Cryptocurrencies” only becomes comprehensive with tested trading tools and strategies. “Trading Finder,” with its experience, aids traders and investors in gaining a correct understanding and deep learning. The training programs are designed based on tools for traders of all levels, from “beginner to advanced.” To withdraw funds, one needs to click on Balances in the upper-right part of the website and choose Deposits and Withdrawals in the pop-up menu.
Does Poloniex Offer Margin Trading?
After choosing the best way to buy/sell the needed currency one should tap the Buy button. That’s when the system will start to look for a match for the user’s order. In case if the ask price is lower than any other order in the exchange, then the user’s order will be placed in the order book as an open one. If the system finds a match for the requested price, then the trade happens at the same moment.
In order to short, let’s say, Bitcoin on Poloniex one needs to check if the shorts are in the high position in the chart. The shorting is reasonable only in the case of Bitcoin is in the downtrend. The trader is selling borrowed Bitcoin at a relatively high price, and then buy the same amount of BTC for the lower price. Withdrawal fees on Poloniex are flat and different for each currency. The website claims that these fees are used to cover the cost of the broadcasting transaction to the network. As there are no separate tabs for the currencies besides ETH, BTC, USDC, and USDT, users wanting to buy other currencies should use a slightly different algorithm.
First, it is possible to buy Bitcoin with a credit card using Simplex service which is available for the Poloniex exchange users. Also, it is possible to send some USD via bank wire transaction. To do so, the user must link the bank account to the exchange. Sent dollars will be deposited in the form of so-called stablecoin — cryptocurrency pegged to the US dollar USD Coin (or USDC).
Plus we can see the 24-hour trading volume on a certain market. These figures help to evaluate the liquidity and the current market situation. The first thing we’ll discuss is how to read the Poloniex charts.
The exchange has a weak standing among users and market experts. There are 346 Poloniex reviews on Trustpilot, most of which are negative, complaining about wallet freezes, poor customer support, and high spreads. It also allows for crypto buy (USD, EUR, GBP, CAD, JPY, TRY, and more) and sell (EUR, USD, and GBP) through Mercuryo and Simplex 3rd party providers. The platform’s default fees for spot and futures trading are 0.2%/0.2% and 0.0150%/0.0500%, respectively. However, withdraw usd from poloniex users are eligible for fee discounts based on their VIP level.
Why Does Poloniex Need Social Security Number (SSN)?
If your account is hacked or you accidentally send cryptocurrency to the wrong address, you are unlikely to recover your funds regardless of the exchange. The signup process at Poloniex is similar to that of other cryptocurrency exchanges. You’ll start by creating an account with your email address and a password. Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Orders may be partially crammed or may be stuffed by numerous orders, depending on the trading exercise on the time an order is positioned.
- As there are no separate tabs for the currencies besides ETH, BTC, USDC, and USDT, users wanting to buy other currencies should use a slightly different algorithm.
- Once you have staked your coins you can earn staking rewards on top of your Poloniex holdings and grow them by compounding future rewards.
- However, some users may be wondering if they can withdraw money from Poloniex without a bank account.
- Under the buy/sell section there are the trade history and the market depth chart graphically reflecting supply and demand on the market (buy and sell orders).
- As soon as the position is closed, the loans get automatically settled.
When the order is filled it can be found in the Trade History tab (My Trades). This exchange doesn’t exist in the form of the mobile app, but the mobile version of the website is quite convenient. Traders with programming skills can create their custom tools via the exchange’s API or using the open-source code.
- Poloniex offers a range of features designed to cater to novice and experienced crypto traders.
- This address should be pasted in the Bitcoin Address (Recipient) section of the Send tab on Coinbase.
- There are 346 Poloniex reviews on Trustpilot, most of which are negative, complaining about wallet freezes, poor customer support, and high spreads.
- That’s when the system will start to look for a match for the user’s order.
- We also considered if the exchange is regulated by a proper agency or entirely decentralized.
- Right after it, the system will generate a personal Bitcoin Deposit Address for the user.
Staking is when users lock up their cryptocurrencies in a blockchain network to help secure the network and validate transactions. Poloniex offers a range of features designed to cater to novice and experienced crypto traders. Poloniex is a well-established centralized cryptocurrency exchange serving the crypto poloniex usd withdrawal community since 2014. In 2018, Poloniex underwent a significant transformation when it was acquired by Circle, a prominent fintech company involved in the blockchain space. Read our Poloniex review and discover a gateway to diverse cryptocurrency trading, staking rewards, and cutting-edge features. While Poloniex receives low marks from reviewers, it’s worth noting that poor customer support is a problem industry-wide.
Poloniex User Levels
That’s when it’s time to click on the Send Funds button, then one needs to confirm this action after the check of the inserted data. In the case of Bitcoin, Coinbase to Poloniex transfer time can last from 10 minutes to around a couple of hours. After the confirmations take place, the information about the Bitcoin transfer can be found on Poloniex in the Transfer Balances tab of the Balances pop-up menu.
Support Channels
Traders also need Level 2 verification to participate in margin and futures trading. Additionally, manual fund transfers are exclusively available at Level 2, enabling more control over one’s account and assets. Users can also trade some volatile currencies like Baby Dogecoin, Dogelon, and Dogs of Elon. There’s a good mix of well-supported utility tokens and lesser-known currencies. It’s important to mention the exchange’s relationship with the Tron (TRX) currency.
How to Buy Bitcoin?
According to the website, the transaction time should not overcome 4 hours. Some users complain about long periods of Poloniex withdrawal pending. Such things might happen when the platform suspends the withdrawals of certain currencies due to tech maintenance. In the Withdraw list, users can see if the withdrawals are temporarily disabled. Most users who have faced the problem of the stuck transaction recommend to contact the support team and ask for help.
It is safe to say that Poloniex was among the crypto companies that have set the standards of the modern-day centralized cryptocurrency exchanges. Many of the features provided by this platform have become compulsive. The exchange offers a diverse set of supported currencies, but it’s important to realize that fiat money can’t be used on this platform. If one wants to buy BTC he/she should click on the BTC tab in the Markets section and find the deposited currency in the list. Learn everything about the Binance.US crypto trading platform in our detailed review. The staking rewards vary depending on the cryptocurrency being staked.
We could refuse to execute a commerce, impose commerce amount limits or restrictions at any time in its sole discretion without notice. Like practically all different exchanges, Poloniex is first-and-foremost a business. To do so the potential user is required to upload ID/passport/driver’s license photo. Those users who wish to be able to withdraw more than $25,000 per day should contact the support team and ask for the additional (final) verification step. There’s no available information on the data requested from users who want to get access to the full set of the exchange features. Forex, binary options, cryptocurrency, and CFD trading on margin involve high risk and are not suitable for all investors and traders.
