Poloniex Snapshot
Audience: altcoin traders and investors, margin traders, lending
Features
- Trade a variety of altcoins
- BTC, ETH, XMR, and USDT pairs
- 2FA for login and withdrawal
- Additional option for all withdrawals to be confirmed by email
- Easy to use margin trading platform
- BTC pairs include: 0x, DASH, ETH, LTC, REP, STRAT, XEM, XMR, ZEC
- Recently purchased by Circle (backed by Goldman Sachs)
Top Reasons for Using
Poloniex offers several legitimate altcoin projects for traders and investors. The exchange provides detailed charts and easy to use security features to ensure on site funds are safe. Buy, stop/loss, and sell orders can be set by users seeking the ability to trade even when away from the exchange.
Top Reasons to Avoid
Poloniex has not added new coins in months leading to users leaving for other exchanges. Volume has taken a hit due to both factors. Seems less prepared for effectively complying with KYC requirements than other high profile exchanges.
Bottom Line
Poloniex is a good starting point for investors and traders looking to move into the altcoin space. To be successful investors need access to and confidence in the exchanges they trade digital assets on. Due to the potential influence exchanges have the success and profitability of projects they list. A listing on Poloniex is a stamp of credibility in this regard.
Security features are robust and easy to set up for beginners, providing piece of mind digital assets are secure while invested there. (preferably in a manner that allows you to control your private keys).
Circle purchasing this exchange further solidifies its credibility. If you have confidence a Goldman Sachs backed company will generate new users and add more coins, you have confidence volume will return for deserving projects on Poloniex.
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