Poloniex Review on its Fee Structure, Security Systems and Other Features

As a novice crypto investor or trader, you should know the details mentioned in this Poloniex review. There are several features about the crypto exchange that you should know about before you choose it to buy or trade crypto.

As a beginner, you should know about the features offered by an exchange so you can determine if it is according to your needs and requirements or not. This is important because not every exchange is compatible with beginners and experts alike. Therefore, it is essential for novice parties to be sure that the exchange they choose caters to their needs and requirements, whether it is related to buying, selling or trading crypto.

Here are some details of the Poloniex exchange you should know if you are a beginner and intend on using the platform.

Poloniex Review on Margin Trading

One of the impressive features of the exchange is that it supports margin trading. This is the most popular form of trading and is known to be quite risky and volatile. It does offer the opportunity to the traders to get huge profits. However, it is crucial to keep in mind that the profits are not always guarantee.

Margin trading allows the crypto traders to borrow funds from the brokers. This enables the traders to open bigger trading positions, without investing a large amount of money from their own pocket. While this can lead the traders to get big profits, it can also result in huge financial losses. This is why it is a risky endeavor and people who are new to the crypto space should not dive into it without having proper information or choosing a suitable exchange.

New Bitcoins are made through mining. Supply is to a great extent affected by network speeds and the mining trouble. XRP tokens, then again, are delivered with a limit of 1 billion tokens each month by an in-constructed savvy contract. Subsequently, there are likewise altogether more XRP coins than Bitcoins on the lookout. Bitcoin is covered at a limit of 21 million coins, while around 50 billion XRP tokens are currently available for use.As a beginner understanding XRP is one of the most important factor every investor and trader should know about

Crypto Lending

Another prominent feature of the Poloniex exchange is crypto lending. This is a type of decentralized finance that enables the crypto investors to lend the crypto they own to other traders. The benefit of this feature is that the investors who lend their crypto get rewards and payments with interest.

Information such as this is mentioned in this brief Poloniex review to help the novice parties in determining what they can expect if they decide to use this exchange.

Fee Charged by Poloniex

As a beginner, you should know the fee structure of any exchange you decide to choose as some platforms charge a high fee and also include hidden charges that are not disclose beforehand. Using such an exchange can be a security risk and can also be financially burdening.

This brief Poloniex exchange review talks about one of the most important features every investor and trader should know about, which is its fee structure.

However, this brief Poloniex review specifies that the exchange charges a fair and transparent fee structure. It is know to offer one of the lowest fees in the crypto industry and is base on the market maker and taker model.

Here are the details of the fee charge by the platform:

  • 15% lending fee
  • Maker fee (for margin trading): 0.01%
  • Maker fee depending on trading volume (for spot trading): 0.1450% to 0.0200%
  • No deposit fee
  • No withdrawal fee
  • Taker fee (for margin trading): 0.075%
  • Taker fee depending on trading volume (for spot trading): 0.1550% to 0.0200%

Security Offered

The level of security offered by an exchange is yet another major and essential factor that needs to be discussed before any crypto investor or trader chooses an exchange. Choosing a secure exchange is essential as the crypto space is a volatile and unpredictable place and the risks cannot be completely eliminated. However, choosing a platform that prioritizes the safety of the users can reduce the risks to a great extent.

Therefore, this brief Poloniex review mentions that the platform uses high-end security systems that offer utmost security to the users. The security features used by the exchange include:

  • Two-factor Authentication
  • Role accounts for privacy protection
  • Registry locks
  • Protection against attacks such as robot infiltration
  • IP lockouts
  • DoS attacks protection
  • Cryptographic DNS cache protection
  • Cold wallets vault

The security of the Poloniex is further validated by the fact that it is fully regulated and licensed by:

  • FinCEN
  • FSA
  • FINRA

Trading Tools

This Poloniex review also addresses another aspect, which is that it offers various trading tools to the crypto traders. It is a reputable crypto exchange that offers access to various types of stop-loss orders and buy orders, which traders can set according to their preference.

The platform also offers access to neatly designed charts. That feature several indicators so they can carry out their own technical analysis.

Conclusion!

The Poloniex review, such as the one mentioned above. Is one of the most helpful things if you are new to the crypto space and want to use the platform. These details can help you determine whether it is a suitable exchange for you or not.