Learning to trade on the Poloniex crypto exchange

Crypto Exchange Poloniex does not offer trader training in a traditional format. But the administration offers a lot of useful materials in the help center. Before you start trading on the service site poloniex.com, it is important to study this information to know how to properly create an account and make transactions in the terminal cryptocurrency exchange. You can also study the articles on our website, which will familiarize you with cryptoassets and strategies to work with them.

Cryptocurrencies

Before you start trading cryptocurrencies on Poloniex, it is important to know what they are and how you can make money with such assets. We have an article on our website with sources of information about digital currencies, we suggest you start there.

Trading and strategies

To work on any crypto exchange, it is important to be trained cryptocurrency trading and learn the basics of buying/selling digital assets and what tools and strategies are used.

Poloniex assets

You can trade 120+ cryptocurrencies on the exchange, including BTC, ETH, LTC. Before you start working on the platform, it is important to make an analysis of the prices of all the assets on the different exchanges to find out if a trade will be profitable. The site has a “Markets” section where you can explore different asset prices for spot and futures trading.

Help Center

Poloniex’s support team has published training articles on several topics so that the user can explore the details of working with the company:

• New announcements: articles related to new coin and futures quotes, token launch platform.
• News/announcements: updates to the site, service rules or policies.
• Beginning: how to create, verify an account, send funds and withdraw money from the balance on the exchange. In the section you can learn the minimum amounts of the deposit, methods of deposit and withdrawal of funds, options for enabling two-factor authentication and verification of the account. There is also a video tutorial for beginners. So far uploaded two videos, which describe in detail the procedures for registration, trading and depositing.
• Using a Poloniex account: information on logging in, deposits and withdrawals, account security. There are articles about 2-factor authentication, email freezing, login problems. You can read answers to user questions about transactions, how applications work, and buying and selling fiat. The same section also contains information on how to export the history of transactions, update data, and close an account.
• Trading: a guide to spot and futures trading.
• Referral program, campaigns and adhdrop.

Features of trade

Poloniex offers spot and futures trading. Margin trading has been suspended since March 9, 2022, as the exchange team works to improve this format. Before you start working on the exchange, it is important to learn about spot trading and futures trading. Such training will allow you to choose the appropriate option in each case.

The Polonix website has sections with terminals for each type of operation. Before you start trading, you should study the sections of the help center, which describe the conditions and rules of different types of trading in detail. For futures, there is a “Frequently Asked Questions” section available. In it you can find out the following information:

• What are futures?
• What are open-ended futures?
• Who can’t trade on the exchange?
• How is profit/loss calculated?
• What fees does the crypto exchange charge?
• How is leverage used?
• What is liquidation and bankruptcy?
• The risks of futures trading?

Another useful article for traders is a guide on how to start working with futures on Poloniex. In it, the service administration wrote about collateralized contracts USDT, the terminal and its functions. A step-by-step guide to the process is also available:

• Registration and Login.
• Inclusion of futures trading.
• Assets and Balance Sheet.
• Placing orders and their types (limit, market and stop orders).
• Settings, long and short positions.
• Position Monitoring.
• Closing an order.

There is also a section with information about spot trading on Poloniex. It contains answers to frequent questions about trading:

• Commission Structure.
• Discount on trade fees.
• A program for market makers.
• How to trade on the stock exchange.
• How deals are made.
• Explanation of open orders.
• A description of stop-limit orders.
• General trade inquiries.

Before beginning, beginners should be trained by studying all the articles in the section, reading in detail the material “How deals are made”. It describes market and open orders, features of the order book.

Training

In addition to learning the basics of trading and studying the materials of the Help Center on the exchange site, you can watch videos on YouTube about the terminal. Today there are also many platforms that offer free and paid courses on how to buy/sell digital assets.