Cryptos Land: Poloniex Exchange Review

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Sunday, 23 July 2017

Poloniex Exchange Review

Poloniex by far is one of the biggest exchange and is among top 3 exchange in terms of volume.
Based in US the exchange provides trade options in many different cryptocurrencies majority of them ranking in top 50. January 2014, Poloniex offers a secure trading environment and provides advanced charts to its customers for assisting them.
Poloniex is one of best exchange for  beginners and newbies who are entering into the market due to the fact that it has biggest volume and you can expect your order to be filled relatively quickly.
Further more this exchange has an edge on others because of its "Stop Loss" order. A very unique kind of order placement where your buy/sell order will be placed if the price reaches a desired position whether high or low.
Main pros of Poloniex that it boasts about
1- No compromise on security by keeping hackers out and securing your funds in cold wallet
2- You can get live movement of prices without any delay
3- You never trade on fractional reserves
4- High trading volume
5- Large number of traders
6- Mobile friendly website
7- Bitcoin and Altcoin Lending Options
8- Stop limit order

However, there are some cons of using Poloniex as well
1- Slow loading. Users have reported to face Poloniex loading slow due to big traffic
2- Crashes. In the past Poloniex has been down several times specially at times of big dumps when it is time to buy and there is huge traffic
3- Accused of insider trading. The exchange was accused of insider trading in 2017 when it delisted dozens of Altcoins which got pumped recently
4- Slow Support response. Sometimes your account verification or ticket can take even a week.

Have an experience with Poloniex? Share in comments

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