| Cryptocurrency exchange | |
|---|---|
| Official website | |
| Social network | |
| Date of foundation | 2014 |
| Head Office | F20, 1st Floor, Eden Plaza Eden Island, Republic of Seychelles |
| Types of support | |
| Languages | English, Chinese, Russian |
| Founder | Tristan D'Agosta |
| Company owner | Polo Digital Assets, Ltd. |
| Manager | Tristan D'Agosta |
| Minimum deposit amount | Verified Cryptocurrency
Fiat Currency
Unverified Cryptocurrency
Fiat Currency
|
| Maximum input amount | Verified Cryptocurrency No limits Fiat Currency
Unverified Cryptocurrency No limits Fiat Currency
|
| Maximum withdrawal amount | Verified Cryptocurrency No limits Fiat Currency
Unverified Cryptocurrency No limits Fiat Currency
|
| Exchange Commission | Trade Commission: Until 0.125 % for maker / Until 0.125 % for taker Futures: 0.01 % for maker / 0.075 % for taker Loan fees: 15 % / From interest received by the borrowing client |
| Age restrictions | From 18 years |
| Trading volume per day | 470968504 USD |
| Number of cryptocurrencies | 120+ |
| Margin trading | Yes |
| Leverage | Until 1:100 |
| Tokenized assets | No |
| Free demo account | No |
| Types of accounts | Standard |
| Order execution | Limit Order, Stop Limit Order |
| Methods of replenishment | Cryptocurrencies, Wire transfer, Simplex |
| Withdrawal methods | Cryptocurrencies |
| Account Currencies | USD, CNY, EUR, JPY, KRW, BTC |
| Types of cryptocurrencies | Bitcoin, Ethereum, Zcash, DASH, Litecoin, Monero, Dogecoin, et al. |
| Mobile apps | |
| Trader training | Help section FAQ |
| A way to store cryptocurrencies | Cold: yes Hot: no |
| Fiat accounts | Yes |
| Scalping | No |
| Stop loss and take profit function | No |
| Possibility to exchange for fiat currencies | Yes |
| Crypto loans | Lending BTC, USDC, USDT and more than 10 other crypto-assets for interest directly to your account |
| Futures trading | Derivatives trading in a special account |
| Basic verification | Yes |
| Advanced AML verification | Optional two-factor account authentication |
| API | |
| Affiliate Program | Registration20% from trade fees |
| Advantages | Simple and accessible interface High turnover of trades and the possibility of credit Low system fees for transactions High level of security and fiat currencies Convenient analytical and technical tools |
| Disadvantages | No direct communication with technical support Blocking of accounts without explanation |
| Company requisites | Legal name: Polo Digital Assets, Ltd. Legal address: F20, 1st Floor, Eden Plaza Eden Island, Republic of Seychelles |
| Overall assessment | 7.5/10 |
| Date of update | April 23, 2024 |
Poloniex is this a scam? Review and Customers Reviews
The crypto exchange Poloniex has been operating in the market since 2014 and is considered one of the most popular platforms in the world. Although it is not the first exchange on the market, it is valued by traders due to its wide range of features and services that make crypto trading more convenient and efficient. Poloniex currently leads the way in Ethereum sales volume among similar platforms, attracting a large number of users.
Certainly, you’re eager to find out for sure whether a particular crypto exchange is a fraud or a reliable and trustworthy platform that guarantees safe trading with the opportunity to earn a decent income and withdraw funds without any problems. In this article, we’ll try to answer this important question.
As a crypto exchange, Poloniex is a relatively young company, but it has already become one of the most popular platforms for trading cryptocurrencies. Its user base is rapidly growing and it steadily occupies a leading position in the market. Poloniex is considered to be one of the most reputable resources for buying and selling cryptocurrencies, with an average of about 30,000 users online at any given time. In terms of sales, Poloniex ranks in the top 5 among all cryptocurrency exchanges. It also ranks first in sales of Ether, which is one of the most valuable cryptocurrencies on the market.
One of the reasons for such a mind-blowing success of the platform is great opportunities for trade in cryptocurrencies, safe and profitable exchange of digital coins, and lending. At the same time, the largest percentage of the audience, about 90%, is interested in options for trading and currency exchange. For comfortable trading in cryptocurrencies, the website offers a convenient functional terminal. You can make use of currency exchange charts with the ability to change the display period, add your markers, use a variety of settings, oscillators, indicators, and filters, convenient forms for orders for currency purchase (SELL, BY, STOP LIMIT ), an intuitive display of orders of traded pairs. Extended analytics (the price of a currency for the last day, the history of trade) will make trading effective.
The platform is also interesting because traders are offered an impressive number of digital currencies: more than 120, rare virtual coins are involved in the exchange’s turnover. On the exchange, the following cryptocurrencies are available: Ethereum, Bitcoin, Zcash, Dash, Ripple, Litecoin, MaidSafeCoin, Factom, Clams, Dogecoin, Monero, etc. Each user at the registration on the exchange automatically opens a personal multicurrency wallet.
The issue of security is one of the most significant in all such platforms, as this area is always an attractive target for various fraudulent activities. Thanks to two-factor authentication, Poloniex.com ensures that user accounts are securely protected. In case of suspicious transactions, the administration of the platform requests relevant documents to verify the identity of the user.
The resource still works and serves traders. It’s still the largest player in the market of cryptocurrencies (learn here whether cryptocurrencies are scams). Moreover, it’s considered to be one of the best exchanges in the world.
Replenishment and Withdrawal of Funds
A notable aspect of this cryptocurrency exchange is that it does not support traditional payment systems. Instead, it only accepts digital currencies. To engage in trading on Poloniex, users must transfer a digital asset to their account. Funds can be deposited and withdrawn in the following digital currencies:
- Bitcoin,
- Ethereum,
- BitcoinDark,
- Ethereum Classic,
- Ripple, etc.
If you want to transfer digital coins to the exchange or withdraw them, go to the poloniex.com site, then go to the «Deposits & Withdrawals» section, by clicking the «Balances» tab, select the appropriate cryptocurrency, the operation: replenishment or withdrawal. The exchange has a commission, but users mark it as one of the lowest among crypto exchanges – its size depends on the volume of trades. The more the trader traded, the less the commission would be.
Complaints about Poloniex
On the Internet, there are a lot of different reviews of traders about Poloniex. It’s quite normal, as the financial resource is led by the number of users working here with digital currencies. Among the advantages, traders point to the reliability and reputation of the market leader, functionality, advanced features and convenience of trading, a rich choice of tools and settings, a two-factor registration, low commission, and rare digital coins.
However, there are negative reviews too. Traders keep complaining about long withdrawal of funds, problems with technical support (for example, no answers, lack of communication, low level of knowledge), support of only virtual currencies, blocking and deleting accounts without explaining the reasons, long verification, constantly emerging issues with access to the site for technical reasons. All of this makes traders seriously consider changing the platform.
Regulation of Poloniex
Poloniex, Inc. has a legal registration in the USA (Wilmington, DE) and it’s subject to the legislation of this country. The exchange is obliged to collect personal data as well as information about system passwords, computers, IP addresses, and cookies of users to improve the service; monitor the correctness of customer actions; help customers with their problems; to prevent fraudulent or suspicious activities that are contrary to the laws of the country in which the company is registered. The organization is obliged to transfer data about its customers to third parties (partners, subcontractors, law enforcement agencies). More information is provided in the Privacy Policy section of the Poloniex website.
Poloniex has the right to provide cryptocurrency trading services in certain states of the USA. Working on the site, the user automatically agrees that he or she will use the resource only for the intended purpose, without taking part in fraud, money laundering, or financing of terrorism. In addition, working on the exchange, clients should be aware of all possible risks associated with activities in the financial markets, the status of the cryptocurrency, and the risks associated with the operation of the resource (cyberattacks, technical failures). The company does its best to ensure the security of information and confidentiality of users.
The company has a registration in the Financial Crimes Enforcement Network (FinCEN) (registration number 31000091844018). It’s obliged to follow the norms of preventing any fraudulent actions. It’s also expected to track suspicious actions of users, provide all information about clients to state bodies, etc. Also, following the Anti-Money Laundering (AML) policy standards the exchange is obliged to collect detailed trustworthy data about its users (KYC). The organization provides services (the website and its information, payment systems, transfer of digital coins, etc.) without guarantees that some services will be continuously available. It’s because the work of services depends most often not on Poloniex, but on third-party companies, possible force majeure. More information is provided in the Terms of Use section of the Poloniex website.
Read Poloniex’s Privacy Policy
Read the Terms and Conditions for using the resource on the Poloniex website
Is Poloniex a Scam?
The crypto exchange Poloniex is, undoubtedly, an excellent choice to trade in cryptocurrencies. It has high ratings and a serious reputation. Being one of the young companies, it was able to beat competitors with unique features, and platform convenience. The exchange is popular around the world, it occupies the first place in terms of the volume of operations and user involvement. Today, the world-renowned organization keeps rapidly developing, thus proving that it’s not a scam. The terminal offers a large number of settings, functions, and reports, which makes trading in cryptocurrencies not only comfortable but also effective. The exchange offers trading opportunities, and currency exchange, and provides users with a personal wallet.
Decent solutions to security and reliability issues on poloniex.com are among the company’s many strengths. The exchange’s growing popularity, large volumes of transactions, and revenue – all these factors cannot be ignored by scam artists who seek to take advantage of users’ trust. However, as the company continues to develop, it is improving the security of its platform. Traders are encouraged to complete a two-step verification process, and managers may also request documentation verifying the user’s identity.
On the Internet, there is both positive and negative feedback about the resource from traders, but it is difficult to say which type of feedback dominates. Among the positive aspects, one can mention its reliability, good reputation, and profitable trading. The functionality and convenience of the platform are also worth noting. A correct response to the hacking incident in 2014 and the reimbursement of funds to users indicate that this is a serious organization and not a fraud. However, there are also some negative reviews. These often relate to issues with the support service, such as long response times, lack of communication, problems with withdrawals and verification, and account blocking. Users also report frequent access problems to the site.
Poloniex can no longer be considered a scam. It fulfills its obligations to traders adequately and honestly, paying them on time and monitoring the correctness of its payment systems. The company ensures sufficient safety to prevent hacking, which is why traders have a positive opinion of Poloniex after the recent cyberattack when the exchange paid users from its budget. Despite the fact that Poloniex holds leading positions in ratings of similar businesses, it can’t be considered a fraud. The company leads in terms of the number of regular customers and turnover of funds, offering an opportunity to trade comfortably and profitably.
Conclusion
Today the crypto exchange Poloniex is rightfully considered the market leader. Although this company is still relatively young, it has managed to steadily evolve. By choosing this exchange, users can work with a convenient and functional terminal with advanced settings and reporting, favorable trading terms, and the possibility of exchanging digital currencies.
It is to be hoped that the management of the crypto exchange plans to eliminate any negative aspects. It is expected that it will continue its successful development. At present, we would not label Poloniex as a scam, but the responses of traders we expect to receive for this review will be not only useful for the users of our resource but also significantly influence the rating of the Poloniex cryptocurrency exchange.
Reviews
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Feedback approved for publication Rate your review 000scam !!
this platform POLONIEX should be avoided by all means. The level of incompetence here is alarming. Do not be fooled !!!. I found a means on how to redirect funds from this platform or cases of income withheld you can easily do ****
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Credible feedback Rate your review 1+10
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Rate your review 000Scam
Last week deposited R4800 worth of bitcoin to Poloniex to trade on my behalf. Before doing so l asked if there would be further costs before withdrawal. I was reassured by a one Agent Tristan that they do not have hidden costs. Before withdrawal l was asked to deposit R300 before the withdrawal could… Read more
Positive- None
Minuses- Deceitful
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Rate your review 00Don't mess with POLONIEX!!! They froze withdrawals...
Don’t mess with POLONIEX!!! They froze withdrawals to all clients on ETC since February 18… Today is the 8th of May! All can’t fix their wallets… And they undervalued ETC by $30 and sell clients’ coins at other exchanges BERESTS! Here is a link to the proof: (only PRO users can post links)
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Rate your review 0+11On December 18, 2020, I sent Pokadot...
On December 18, 2020, I sent Pokadot coins (the equivalent of about $39,000 at the time of writing this complaint)
The coins have not been credited to me. Here is the link and proof that they have the coins:
https://polkascan.io/polkadot/event/2949368-7
Wallet:
137jSA54JogtkqW9nsjNaYnyy5EfbsYwnhvoKeVomoVwZutzThe… Read more
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Rate your review 000They want to verify the account, have...
They want to verify the account, have already sent a bunch of documents, and they all write a week of no answer, send that picture, send this picture. apparently 1.5 bits will go sly assholes
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Rate your review 0+10They have a horrible exchange and horrible...
They have a horrible exchange and horrible support. They completely ignored article 17 of their own user agreement when it came to withdrawals, which they froze when they were taken over by Circle, and froze two weeks early contrary to their official notices. Further, the support ignored the questions… Read more
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Rate your review 0+10It's not an exchange, it's a BLEEP
It’s not an exchange, it’s a BLEEP. Stole 2 FA burglary money and 2 months later they write: We investigated the withdrawal from your account and determined that these funds were moved to an address that is not controlled by Poloniex. As a result, we are unfortunately unable to assist in the recovery… Read more
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Rate your review 000Terrible tech support! They froze my account...
Terrible tech support! They froze my account without explanation, I can’t get my account back for a month.
For 21 days in a row I have not responded to support. I opened a ticket about 30 days ago.
If you have any money in this exchange, then immediately withdraw everything and run from there!
Ticket… Read more -
Rate your review 0-30That's a normal exchange. Do not believe...
That’s a normal exchange. Do not believe these Chinese antibots. All works. Outputs, starts, etc..
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Rate your review 000Do not miss the verification of users...
Do not miss the verification of users from Ukraine, I did everything as it is written, and no way. Requests an electronic passport. I will have to buy a plastic passport for the sake of the 20 dollars I have left there, ?????. Support is greedy and stupid, you say one thing, the answer is another… Read more
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Rate your review 000They froze the account along with the...
They froze the account along with the dough! Potderzhka disgusting, answers in a day or two. It feels like a robot writes the same thing!
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Rate your review 000Don't mess with a total scam...
Don’t mess with a total scam
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Rate your review 000The exchange is a scam. Sent gas...
The exchange is a scam. Sent gas and xem. Two weeks no more.
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Rate your review 000I don't know who all these people...
I don’t know who all these people are who write that Wormwood has fierce scams, etc. You are probably crooked. I have been using for the second year – no complaints
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Rate your review 0+10NOT withdrawing money! Withdrawal status - executed
NOT withdrawing money! Withdrawal status – executed, in fact the transaction is not in the network and is not expected. SCAMMERS !!!!!
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Rate your review 000Good afternoon! Has anyone heard about the...
Good afternoon! Has anyone heard about the Polonix exchange? Can I trade and withdraw if I’m in Russia? Is it worthwhile to register on the exchange and deposit your money if its status is unclear? What exchangers would you advise for a newcomer?
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