How to earn on the crypto exchange Poloniex?

Poloniex – that crypto exchangewhich has been offering trading in various digital assets since 2014. For this purpose, it developed a convenient trading terminal and a mobile application, where all the functionality of the exchange is available. To make money selling and buying digital assets on a cryptocurrency exchange, it is important to know the basics of spot and futures trading. These are the types that Polonix now offers. You should also study the information on the company’s website poloniex.comTo know if there are additional opportunities to make money on the exchange.

Trade

Poloniex offers spot trading through the terminal. It allows you to select a trading pair and place a limit or stop-limit order. After specifying the currency, price and amount, a buy or sell order will be placed. The system will start searching for counterparties that offer assets at the user’s price. If it is lower than the minimum, the order will end up in the order book until an offer or lower price is available. You can earn money by following the changes in the value of currencies, buying at a lower price and selling during its rise.

Lending

Another opportunity to make money on the Poloniex exchange is BTC lending. Traders who have on their account Bitcoin (minimum – 0.005 BTC), can offer their funds to those who need credit for trading. By placing an offer for a certain period of time, one can earn money by lending coins to other customers of Polonix.

The site of the exchange has a “Lending” section, which publishes lists of offers and requests. If there is a suitable option in the list of the latter, the trader can offer his coins to such a client. If there is no request of interest, you can create your own offer, specifying the amount and period of lending.

Referral program

It is also possible to earn money by attracting users. The crypto-exchange has developed an affiliate program Poloniex Space Travellers. By sharing a referral link with acquaintances to get from 10 to 60% rewards from customer payments. Participants of the program can become:

• Influencers on Twitter, YouTube, Tiktok, administrators of Telegram channels, members of cryptocommunities, media content creators and those who want to promote Poloniex with a social network page with more than 5,000 subscribers or a community with more than 500 members.
• Cryptocurrency media platforms and websites.
• Promotion gurus, institutions and organizations.

To join the program, register as an affiliate by filling out a form. It is available on Google Forms. Enter your name, email, nickname, country and language in the fields provided. You also need to specify how you found out about the exchange, whether you’ve traded on it. There is a question about the availability of referrals from other sites, the possibility of exchanges you have used before. You should also specify the estimated volume of trades from referrals and add links to pages in social networks. A dedicated Polonix team will review it and get back to you. How the program works:

• Register on the Poloniex website as an affiliate. Find the code to attract users in your personal cabinet.
• Share the code with your friends on social networks. Rewards will only be credited if a new user registers by applying the specified code. Each referral will get 10% trading commission discount if he/she creates an account with the invitation code.

Remuneration is paid once a day in USDT. For spot trades, commissions are calculated based on the net fees charged to referrals. Futures commissions take into account the commissions created by the volume of trading. There is no time limit for earning. Referrals can take advantage of their discount for using the invitation code within 60 days after registration. If an attracted trader becomes a market maker or a member of the VIP program, an exchange partner will not be able to receive remuneration for him.

Polonix offers several levels of affiliate program with different commission amounts:

• Space Traveller – 20%.
• Moon Explorer – 30%.
• Mars Adventurer – 50%.
• Sun Captain – 60% (50% from the fees of invited users + 10% from their referrals).

Once a user becomes a Space Traveller member, he or she will be tested once a quarter. The Exchange will adjust eligibility and reward levels based on results. Evaluation Criteria:

• When the number of referrals exceeds 15 with a quarterly trading volume of $500,000 or more. An affiliate will become a Moon Explorer and receive 30% rewards.
• If an affiliate invites 30 or more people with a trading volume of 1,000,000 USDT or more per quarter, they can expect a commission of 50%.
• The Sun Captain level will require at least 100 referral users and a trading volume of 3,000,000 USDT. This will entitle you to a reward of up to 60%, of which 50% comes from first-level referrals and 10% from second-level referrals.

If the partner meets the criteria, the level will be raised to the next level in the new quarter. Otherwise, the level may be lowered. Poloniex crypto exchange reserves the right to disqualify a user who has been found or is suspected of violating program rules. In such case, all rewards will be cancelled.