An exchange that has low trading fees and supports more than 350 cryptocurrencies is what every trader wants. Poloniex is that exchange for you. And it is also a decentralized exchange that offers lending, margin trading, and many other cryptocurrency products. Hence, every investor needs this platform, but the sad part is that it is only available for some. The US users cannot avail of the services this platform provides.
In this blog, we will talk about why this exchange is the one for you. Continue further with the article to know more.
Let us directly begin with the point that every investor wants to know about. The low charging fee of this platform is what attracts everyone towards it.
Like every platform, its fee structure is based on the maker-and-taker model. If on a monthly basis, you trade less than $50,000 then the makers would be charged for 0.0145% and the traders would be charged for 0.155%. If you still want some discount after this, then you can also avail them. But to help with this you will have to pay using Tron (a team that Poloniex has partnered with). You can get discounts up to 30% only if your Tron account balance is $49 or more. If your payment mode is through your margin interest fees, then the fees to be charged vary.
Customer Care Services
Poloniex is a self-service platform. Because of its customer service, one might not want to use it. Here to contact the platform for any of your queries you will have to send an email stating your issue and then wait for their response. You can also look into their blogs and see if they had already written a blog for your issue. If yes, then you can just follow the given steps and solve the issue.
You might think that its customer service is the worst by listening to its reviews, but which platform has no issues in customer service? The main issue that any customer can face could be transferring money to the wrong person or an account being hacked, in both cases, you can’t recover your funds back regardless of any exchange you use.
There are more than 350 listed cryptocurrencies and tokens on Poloniex. Some of the well-known cryptocurrencies on the exchange are Shiba Inu, Bitcoin, Dogecoin, Ethereum, Stellar, Solana, and many more. Trading of some volatile currencies is also available such as Dogs of Elon, Baby Dogecoin, Dogelon, etc. The availability of all these currencies makes a perfect combination of well-known and arrived cryptocurrencies. It will be good if you also use Tron because using this will help you in receiving more discounts.
Summing it up
Generally speaking, there are no perfect exchanges each one of them has some flaw. It's just that some platforms have more pros than cons which are enough to attract users. Though this platform is based in the US, its residents can still not get access to the Poloniex. We hope that after reading our blog you were able to make a decision.