Cryptocurrency Tools: Poloniex

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Established in 2104, Poloniex is a cryptocurrency exchange that was established by an individual by the name of Tristan D’Agosta. Based in San Francisco, California.

Poloniex uses a proprietary web-based trading platform. The platform is well designed with the trading screen being user-friendly. The chart comes with features such as multiple time frames and can be displayed as a candlesticks chart or as a line chart. The platform also comes with integrated technical indicators such as Bollinger Bands and Fibonacci levels which can be overlaid over the trading chart to give you a better analysis of the markets. The interface of the trading platform also allows you to easily view all the 200+ cryptocurrency pairs that are available for trading.

Supported trading orders include Buy order, Sell Order and Stop limit order. All these orders can be executed when trading Bitcoin, Ethereum, Monero, and Tether. It is interesting to note that the Poloniex exchange account for 99% of the Tether trading volume for 2017 due to the high liquidity provided by the exchange. Margin trading is also available on the Poloniex exchange with the leverage reaching as high as 2.5x for some pairs.

In addition, the Poloniex exchange offers its traders a lending option that is not found on any other cryptocurrency exchange. With this leading option, you can either offer or demand a loan on the exchange for a specified interest rate.

Supported trading orders include Buy order, Sell Order and Stop limit order. All these orders can be executed when trading Bitcoin, Ethereum, Monero, and Tether. It is interesting to note that the Poloniex exchange account for 99% of the Tether trading volume for 2017 due to the high liquidity provided by the exchange. Margin trading is also available on the Poloniex exchange with the leverage reaching as high as 2.5x for some pairs.

In addition, the Poloniex exchange offers its traders a lending option that is not found on any other cryptocurrency exchange. With this leading option, you can either offer or demand a loan on the exchange for a specified interest rate.

The customer support service at Poloniex isn’t one of its strengths. You can only contact the support team through an email ticket system. Unfortunately, the response time for the ticket is rather long. Although there is an FAQ that you can refer to, it only covers basic questions and doesn’t contain many details.

In terms of usability, Poloniex can be categorized as a true crypto-to-crypto exchange. The exchange offers one of the largest selections of altcoins for you to trade with. In addition, it holds the largest share of the Tether trading volume for the cryptocurrency industry. It is also the only cryptocurrency exchange that offers a lending option.

Protecting Your Cryptocurrency And Staying Safe on Poloniex

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