Poloniex
⭐ Trust Score: 5/10
🏆 Arbi.TEAM 4/10
📋 Basic information
📊 Trading statistics
📖 About exchange
Poloniex
One of the oldest cryptocurrency exchanges
Basic Information
| Founded | 2014 |
| Country | Seychelles |
| Type | Centralized (CEX) |
| Trust Score | 5 |
| Rank | #215 |
| 24h Volume (BTC) | 10954.77 |
| Coins | 367 |
| Pairs | 416 |
History
Poloniex was founded in 2014 as one of the first exchanges to support altcoin trading. The platform quickly gained popularity through early listings of coins such as Dogecoin, XRP, and Stellar. In 2018 the exchange was acquired by Circle, underwent rebranding, and tightened KYC requirements.
In 2019 Poloniex was spun off from Circle into an independent entity managed by Panda Capital investment group. In 2020 the exchange launched margin trading and futures. After the ownership change the platform moved its jurisdiction to Seychelles.
In 2023 Poloniex suffered a hot wallet hack resulting in a loss of approximately 100 million dollars. After the incident the exchange temporarily suspended withdrawals and carried out a major security infrastructure overhaul. Despite these difficulties Poloniex maintained operations and continues serving customers.
Key Features
Historical Reputation
One of the oldest exchanges operating since 2014 with a recognizable brand.
Margin Trading
Up to 5x leverage on spot markets for selected pairs.
Futures Trading
Perpetual futures with leverage up to 25x.
API for Bots
Full REST and WebSocket API for algorithmic trading.
Staking
Earn yield on staking supported PoS assets.
Mobile App
iOS and Android app with core functionality.
Trading Fees
| Operation | Fee |
|---|---|
| Spot Trading (maker) | 0.20% |
| Spot Trading (taker) | 0.20% |
| Futures (maker) | 0.04% |
| Futures (taker) | 0.06% |
| Crypto Deposit | Free |
| Crypto Withdrawal | Network dependent |
Security
Poloniex uses cold storage for the majority of funds, two-factor authentication, and address whitelisting. In 2023 the exchange suffered a hack, after which security infrastructure was strengthened, including new suspicious transaction monitoring mechanisms. Full Proof of Reserves has not been published.
Geography & KYC
The exchange is registered in Seychelles. Mandatory verification for all users. US citizens have not been served since 2019. Russian users can complete standard KYC with a passport. No minimum deposit is required.
Pros & Cons
Pros
- Long market track record since 2014
- Wide range of trading instruments
- Good API for automation
Cons
- High spot fees (0.20%)
- 2023 hack damaged trust
- Relatively low Trust Score
User Reviews
User opinions are divided. Part of the community values Poloniex for its long history and past reliability. Others criticize it for high fees and the aftermath of the hack. Withdrawal delays are a common topic on specialized forums. Average rating on Trustpilot is 3.2 out of 5.