Poloniex Review 2025: Is the Exchange Safe for Trading Crypto and Bitcoin?
Poloniex Exchange is a trading platform that offers users basic and advanced tools for buying, holding, selling, and trading cryptocurrencies. It was established in 2014, primarily offering crypto-to-crypto trading, which allows users to exchange one cryptocurrency for another without using fiat currencies.
The best features of Poloniex include a user-friendly mobile app with comprehensive trading features, trading bots, the Poloniex wallet, and an automated lending bot. These features offer Poloniex customers advanced trading tools, including margin trading, which enables users to trade with leverage, as well as various order types, making it suitable for both beginner and advanced traders.
In addition to these features, our Poloniex review explores what Poloniex Exchange is, providing answers to the following questions: What are the key features of Poloniex Exchange? What is the fee for Poloniex? Is Poloniex legit and secure? And a straightforward guide on creating a new account on Poloniex Exchange. Let’s begin!
What is Poloniex Exchange?
Poloniex is a centralized cryptocurrency exchange that offers a range of trading products for both novice and experienced traders. Some of these products include spot, margin, futures trading, and swaps. Poloniex integrates with TradingView, providing users with the flexibility to customize their trading interface by setting limit orders, viewing real-time order books, and more.
The exchange is backed by Justin Sun, founder of the Tron network. It supports over 350 cryptocurrencies and offers LaunchBase, a launchpad where crypto projects can raise funds and investors can participate in token sales at discounted prices before they are listed publicly. For a better understanding of the Poloniex trading platform, the table below provides an overview of its products and services.
| Exchange | Poloniex |
| Founded | 2014 |
| Founder | Tristan D’Agosta |
| Headquarters | San Francisco, California |
| Key Features | Mobile app, Poloniex trading bot, Poloniex Wallet, and Poloniex lending bot. |
| NFT Marketplace | Yes |
| Trading Options | Spot, margin, lending, and futures. |
| Fiat Support | No (crypto-to-crypto only) |
| Spot Fees | 0.200% maker/taker |
| Futures Fees | 0.0150% for makers and 0.0500% for takers. |
| Supported Cryptocurrencies | 350+ |
| Security Measures | Cold wallet storage for users’ funds, regular audits, two-factor authentication, and advanced encryption. |
| KYC Requirements | Yes, mandatory. |
| Margin Trading | Yes |
| Leverage | Up to 2.5x for spot and up to 100x for futures. |
| Mobile App | Yes. Available on Android and iOS. |
Get up to $10,000 worth of welcome bonuses and a 10% discount on trading fees when you register a new account on Poloniex.
What are the Pros and Cons of Poloniex Exchange?
The pros of Poloniex are LaunchBase, futures copy trading, advanced trading tools, and competitive trading fees.
- LaunchBase: Poloniex LaunchBase is an Initial Exchange Offering (IEO) platform that serves as a launchpad for new blockchain projects and token sales. LaunchBase offers crypto projects a platform to raise funds and gain exposure, while allowing users to participate in token sales before they are officially listed.
- Futures Copy Trading: Poloniex offers a copy trading feature that enables both new and experienced traders to replicate the trades of professional investors, allowing them to earn a profit without prior trading experience. Copy traders can find leading traders in different categories and view their strategies, past performance, and insights on their previous trades before following them.
- Advanced Trading Tools: Poloniex provides a suite of powerful tools for experienced traders, including customizable charts, real-time order books, and technical indicators. These tools help beginners, day traders, and long-term market investors make informed decisions, which in turn leads to a better trading experience.
- Competitive Trading Fees: Poloniex offers competitive trading fees, with the highest fee being 0.200%. The 0.200% is paid by regular users and traders with a high 30-day trading volume pay even less. Poloniex also offers a 30% discount when paying fees in TRON (TRX) or holding the HTX token, providing additional savings for its customers.
The cons of Poloniex include a history of security breaches, a lack of support for fiat deposits, and negative reviews for customer support.
- History of Security Breaches: The Poloniex crypto exchange has a history of minor and major security breaches. One notable example of a major breach occurred in November 2023, when hackers stole over $100 million worth of cryptocurrency. Since the hack, Poloniex has partnered with a major security firm to conduct regular audits, ensuring that vulnerabilities are identified and rectified promptly.
- Lack of Support for Fiat Deposits: Poloniex does not directly support fiat deposits or withdrawals. However, it allows cryptocurrency traders to buy crypto assets through third-party payment processors, such as Simplex and Mercuryo, which incurs an additional fee of 3.5%.
- Customer Support Could be Better: While Poloniex claims to provide 24/7 support through an email ticket system, some users have reported issues with the customer support team, including slow response times, unjustified account freezes, and locking users out of their accounts.
What are the Poloniex-supported and Restricted Countries?
Poloniex supported countries are Australia, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Hungary, Iceland, Israel, Italy, Latvia, Lithuania, Luxembourg, Malta, New Zealand, Netherlands, North Macedonia, Poland, Portugal, Romania, Spain, Sweden, Switzerland, and 73+ other countries.
Meanwhile, Poloniex restricted countries include Crimea, Democratic Republic of Congo, Iran, Iraq, Libya, Mali, North Korea, Palestine, Syrian Arab Republic, Somalia, Sudan, Zimbabwe, Afghanistan, Côte d’Ivoire, Yemen, Myanmar, Chinese Mainland, Cuba, United States of America and all US territories, and the UK.
Is Poloniex Available in the US?
No, Poloniex is not available in the US. The company was previously regulated in the United States and available to cryptocurrency traders in the region, but it discontinued its services in December 2019.
How Can US Customers Access Poloniex?
US customers can access Poloniex with a VPN provider to mask their IP address and log in. Since Poloniex has a tiered KYC level, you can opt for Level 1 verification, which only requires your email address, password, and email verification. With this account tier, you can access unlimited trading, unlimited deposits, $10,000 per day in withdrawals, and the Poloniex lending feature.
What is the Ranking of Poloniex Exchange?
Poloniex Exchange ranks #93 on CoinMarketCap. This ranking is based on its average daily trading volume of approximately $869.375 million, at the time of writing. It is worth noting that determining the exact ranking of a cryptocurrency exchange depends on various factors, including the total number of exchanges the portfolio tracker is tracking, liquidity, current trading volume, and trust score.
What are the Key Features of Poloniex Exchange?
The key features of Poloniex Exchange include the mobile app, Poloniex trading bot, Poloniex wallet, and lending bot.
Poloniex App Review
The Poloniex mobile app features a friendly user interface that offers the same functionality as the desktop trading platform, allowing investors to trade on their phones even while on the go. The Poloniex mobile app is available for both iOS and Android devices, providing a smooth and convenient trading experience.
The app supports a wide range of cryptocurrencies, offers low trading fees, has good liquidity, and includes essential trading features such as charts, order books, and margin trading. It is a proprietary trading platform that integrates TradingView to provide technical indicators (e.g, Bollinger Bands), advanced charting tools, and the flexibility to customize your trading parameters to suit your goals.
Poloniex also supports margin trading on its mobile app on spot and futures markets. For spot margin, the app supports cross margin mode with up to 3x leverage. For futures trading on the app, Poloniex offers USDT-margined perpetual contracts with leverage up to 100x. You can switch between cross margin and isolated margin modes, select your leverage, and place limit, market, or trigger orders easily.
You will also get detailed views of your positions, margin, unrealized P&L, and liquidation prices. Additionally, Poloniex offers risk management features, including auto-margin and stop profit/loss orders, to help manage exposure.
Register a new account on Poloniex and receive a discount on trading fees and welcome bonuses of up to $10,000.
Poloniex Trading Bot Review
Poloniex trading bots are designed to automate trading and manage crypto investments on the Poloniex trading platform. They help cryptocurrency traders execute buy and sell orders based on user-defined parameters such as price levels, stop-loss, and take-profit points.
Since it is challenging to monitor trades 24/7, these automated trading tools enable traders to stay active in the market continuously, using predetermined strategies to minimize risks and maximize profits. Poloniex seamlessly integrates with various third-party platforms, such as Cryptohopper and Coinrule, to offer Poloniex-compatible bots with advanced features.
These platforms have bots with fully preset strategies that you can copy and execute. Therefore, both new and experienced traders can easily choose from the numerous bot trading strategies available, such as the spot grid, futures grid, or the DCA (dollar-cost averaging) bot, which helps users gradually increase their investments to minimize potential losses.
Please note that while bot trading on Poloniex can be rewarding, success depends heavily on how well the bot is configured and market conditions. Automated trading bots follow the trading strategies and parameters you set, so profitability does not depend on the bot.
Poloniex Wallet Review
Poloniex provides users with an in-built, custodial wallet system directly linked to the exchange. The wallet is integrated with the exchange, therefore allowing you to hold, deposit, and withdraw the Poloniex-supported cryptocurrencies. You can also see a detailed overview of your accounts (spot, futures, earn, etc), see how your balance is spread across various trading markets, and also view your transaction history.
Poloniex Lending Bot Review
The Poloniex Lending Bot is a tool that automates the process of lending cryptocurrencies on Poloniex. The bot achieves this by strategically placing lending offers across the lending book to capitalize on potential interest rate spikes.
It was introduced shortly after the company rolled out margin trading and lending and uses an algorithmic approach to spread offers evenly, aiming to maximize lending returns. Additionally, Poloniex offers an API that supports such bots, enabling users with coding skills to implement automated lending strategies alongside other trading functions.
Margin trading and lending are high-risk strategies. Users who have tried the lending bot have warned that the interest rates do not adequately compensate for the associated risks. This suggests that lending on Poloniex may result in losses that are not offset by the interest earned.
What is the Fee for Poloniex Exchange?
The fees for Poloniex Exchange are trading fees, deposit fees, and withdrawal fees. For trading fees, Poloniex follows a tiered structure, where investors with higher trading volumes are charged lower fees. Below is a breakdown of Poloniex’s fee structure.
Poloniex Trading Fees
Poloniex trading fees are spot and USDT-M perpetual futures.
- Spot: Start at 0.200% maker/taker for users with $0 in 30-day volume and $0 TRX holdings. Poloniex offers additional discounts to investors who pay their fees in TRX or hold HTX. With a $0 TRX/HTX balance, you are charged 0.1400% maker/taker. Here is an overview of the various tier levels and the corresponding fees paid by traders.
- USDT-M Perpetual Futures: Futures fees on Poloniex start at 0.0150% for makers and 0.0500% for takers, applicable to users with $0 in 30-day volume and $0 TRX/HTX holdings. Unlike with spot trading, Poloniex does not offer additional discounts to users who pay their fees in TRX or hold HTX. Below is an overview of the various tier levels and the corresponding fees that traders pay.
Open a new account on Poloniex and get a 10% discount on all trading fees.
Poloniex Deposit and Withdrawal Fees
Poloniex deposit fee is free for cryptocurrencies. Since Poloniex does not support direct deposit for fiat currencies, you can either transfer crypto coins from another wallet to your Poloniex account or use the P2P marketplace on the exchange to buy crypto directly from other users. There are no fees for P2P trading, and transactions are often faster than with external transfers.
Poloniex withdrawal fees are different, depending on certain factors. Traders are charged based on the cryptocurrency they wish to withdraw and the current network conditions. Therefore, the fee amount is based on an estimate of the network transaction fees and can fluctuate without notice due to factors such as network congestion.
Withdrawal transactions to crypto addresses outside of Poloniex incur a transaction fee or network fee. This fee is not paid to Poloniex, but rather to miners or validators, who are responsible for processing transactions and securing the blockchain network. To get the most accurate fee for your trade, please check the amount listed on each withdrawal page.
How to Create a New Account on Poloniex Exchange?
To create a new account on Poloniex Exchange, visit the Poloniex official website and provide your email, password, and referral code to get started. Once you verify your email, you can deposit crypto and start trading on the exchange. Here is a detailed guide:
Start your trading journey on Poloniex with a $711 welcome bonus and $10,000 worth of mystery box rewards.
Step 1: Visit Poloniex and Register
On the Poloniex homepage, click “Sign Up” in the top right corner, and provide your email address, add a strong password, then enter this Poloniex referral code to be eligible for the new user bonus, then click “Sign Up”.
Step 2: Verify Your Email
Poloniex will then send a 6-digit code to your email. Add the code in the box provided to confirm your email. From there, you will get a pop-up to add a passkey for easy login (this is optional). You can either add a passkey or proceed to your Poloniex account.
Step 3: Deposit Crypto
Go to “Wallet” at the top right corner and click “Deposit.” On the next page, select the coin you wish to deposit from the dropdown menu, then add the network, and copy the provided address. To complete your first deposit, use the provided address to send cryptocurrency from your external wallet. If you wish to buy Bitcoin, here’s a detailed guide on how to buy Bitcoin to avoid losing your money.
Next Read: Find the current referral codes offering exclusive rewards and trading fee discounts on major exchanges in this crypto sign-up bonus article.
Is Poloniex Legit and Secure?
Yes, Poloniex is legit and secure for trading in 2025. They implement multiple security features and account safety measures to protect users’ data and funds. For instance, the platform uses monitoring technology to detect suspicious activity.
Still, we can’t ignore the company’s history of security breaches and how those incidents affected Poloniex customers. One major hack the company suffered occurred in November 2023. In this hack, over $114 million worth of cryptocurrency was stolen from Poloniex’s hot wallets across multiple blockchains.
The breach was caused by a suspected private key compromise, which allowed hackers to drain funds by transferring them to external wallets. Following the hack, Poloniex disabled the affected wallets and promised to reimburse affected users and offered a 5% white hat bounty to the hacker to encourage the return of stolen funds.
A portion of the stolen funds was later identified and frozen by Poloniex. After the hack, Poloniex hired a top-tier security audit firm to conduct a thorough assessment and fortify its security infrastructure before resuming full deposit and withdrawal services. In addition to regular audits, they also use cold wallet storage, Two-Factor Authentication, and advanced encryption to protect customers’ funds.
- Cold Wallet Storage: Poloniex keeps most user funds (over 90%) in cold storage, minimizing the risk of large-scale scams. Still, some digital assets are kept in hot wallets for daily trading.
- Two-Factor Authentication (2FA): Poloniex offers users standard 2FA security features. This is an added layer of security that, when activated, helps protect you from fraudulent attempts to access your account.
- Advanced Encryption: The platform uses industry-standard encryption technology and SSL to secure data transmission between users and its website and prevent unauthorized access.
In addition to these strong security measures, Poloniex offers a Proof of Reserves (PoR) system that allows users to verify the exchange’s reserves and their account balances. You can log in to your account, access the Asset Security verification page, and download audit data along with a Merkle proof file.
Can You Withdraw From Poloniex?
Yes, you can withdraw from Poloniex. The platform allows small and large amounts of cryptocurrency withdrawals to external wallets and exchanges. Withdrawal processing takes up to 4 hours but can sometimes take longer, especially if the withdrawal requires manual review for security reasons, which can take up to 24 hours.
How Long Does Poloniex Deposit Take?
Poloniex deposits take less than 30 minutes to appear in your account, provided the network is operating under normal conditions. It can take up to 4 hours during peak network conditions. If you don’t receive your funds before then, Poloniex encourages its customers to wait up to 12 hours before reaching out to customer support to resolve the issue.
Begin your trading journey on Poloniex with a $711 welcome bonus and $10,000 in mystery package rewards.
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