Cryptocurrency exchange Poloniex (Polonix) takes pride of place among trading platforms, and the number of its users is growing steadily. What caused such success and interest of traders?
In this review of the exchange, I suggest that you understand how it won the hearts of thousands of cryptocurrency merchants, and learn how to trade on it and earn excellent profit.
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Polonix exchange cryptocurrency
Cryptocurrency - a profitable investment tool and this can not be argued. The high volatility of the course, a large number of varieties, convenience and perspectivity - all these factors contribute to the fact that more and more people in the world pay their attention to it. At the same time, the need for services that would be intermediaries between the world of people and money, that is, provided an opportunity for traders to trade in a crypt, is also growing. This role and perform cryptocurrency exchange, one of them will be discussed in this review.
Poloniex appeared not so long ago, in 2014, but managed to plug many other cryptocurrency exchanges. The service works and develops - the figures are the main evidence - the daily turnover of funds is over 989 $ million. What can be said, Polonix is today on the crest of a wave.
Poloniex is a young and ambitious cryptocurrency exchange originally from the USA. In the arsenal of the trading platform over 140 currency pairs - few of its competitors can boast of such a set of investment tools.
Among the main advantages of Polonix is worth listing:
- A simple and accessible interface, despite the lack of a Russian version of the site.
- Big turns of trading, over 140 exchange directions.
- Low system commissions for transactions - from 0 to 0,25% (Commission "maker" - from 0% to 0.15%, commission "taker" - from 0.1% to 0.25%).
- High level of security, two-factor authentication, three-stage verification (voluntary).
- Convenient analytical and technical tools.
In a word, Poloniex is an exchange that provides optimal conditions for trading, and not only experienced trading participants, but also newcomers can express themselves here.
Than Poloniex cryptocurrency trading
The object of trading on Poloniex is various cryptomonettes, both well-known and well-loved ones, and little promoted, but promising. The number of currency pairs is over 140, and the number of coins exceeds 80 (this number is constantly growing, as the list of coins is expanded by the users voting). But the main coin of the exchange is not Bitcoin, as many might have thought, but the broadcast - the turnover of exchanging this currency for a cue ball is over 347 million dollars!
In general, very substantial sums are spinning on Polonix - the turnover of the exchange is about 990 million American greens. Among cryptocurrency exchanges, Poloniex has a strong cash turnover leadership - competitors cannot boast such user activity (for comparison, the turnover of the BTC-E exchange is 117,5 $ million).
To use the exchange in order to enrich themselves, it is enough just to go through a quick registration. Just create a personal account, and you can use the Poloniex platform's trading functionality - how to work with the exchange, register and verify the user, I will tell you further.
- Go to the official website of the exchange (be careful, there are fraudsters who copy the well-known exchange, the real address of Polonix - Poloniex.com, all other sites created by hackers in order to deceive users).
- Select "Create an account" - the link can be found in the center of the page and in the upper right corner.
- Next, you should fill in information about yourself in the fields of the registration form. You need to specify the name, surname, country, phone number (optional), mail and come up with a strong password. After that, check the acceptance of the checkboxes and confirm that you are not a robot.
- After that click on the button "Create account".
- Go to the mailbox you specified and follow the link in the letter from the administration to verify the mail.
After the above steps, you will be taken to your personal account. Immediately I will warn you, there is no Russian translation and you will have to navigate in the English version. Even if you are from English to “you,” over time you will get comfortable and realize that there is nothing complicated - the exchange is very convenient, and the interface can be called intuitive.
In the website header you can see three sections: EXCHANGE - currency exchange, MARGIN TRADING - trading with leverage, but LENDING is not a typical section for most exchanges that offers to take and issue loans to users. Regarding these loans on the stock exchange there is a whole system of user protection, which does not allow to go into minus on credit funds.
As for the functionality of the cabinet itself, everything is very practical: convenient graphs with the ability to set different timeframes, a filter that allows you to abbreviate to find the cryptonnet you need (for example, Bitcoin - VCO, Ethereum Classic - ETC), a glass of orders and the history of trading, allowing to analyze the situation, well, actually the possibility of creating a personal order to buy or sell.
It is not at all necessary to verify on Polonix - for output of sums less than 2 $ thousand per day it is not required. If you wish to raise this limit to 25 thousand dollars per day, then you still have to authenticate the person. For this:
- Go to your personal account, in the “My profile” tab and fill in all the form fields. When registering, you have already entered your first name, surname and country. Now you need to specify: your address, city, region / province, zip code, telephone number in
+ 7 9999999, date of birth, passport number or identity documents.
- Next, download scans of these documents and photos with this document in hand. The site has a colorful example of how this photo should look, so please follow the instructions to complete the verification successfully.
- After filling in the data and downloading the documents, check the box and confirm the desire to be verified by pressing the “Save Profile” button.
- After that, the verification request is sent for confirmation, as a rule, the procedure will be completed within a day, and you will receive an increase in the limits.
It is worth noting that the administration of Polonix is very careful about the security of its users and reserves the right, if you suspect any strange transactions, to require the user to be verified forcibly, using the freezing of his funds.
How to trade on Polonix
Having replenished your account with Poloniex, you can proceed to the trading process. Of course, trade has many nuances and it is very difficult to tell about all of them, but I will set forth the main nuances and principles below. First, select the trading pair that interests you - there is a convenient coin search filter on the right side of the screen. After clicking on any of them, you will see a page for trading this cryptocurrency, where you can see the dynamics of growth and depreciation on the schedule, statistics of trading history and a glass of current offers for sale.
In fact, cryptocurrency trading, like other speculation, consists in buying at the lowest price and selling at the highest - this difference in rates makes the trader's profit. Therefore, you need, using technical and graphical analysis tools, to establish what earnings prospects a particular coin represents. You can buy a crypt at the market price, that is, at the price of the last sell order (in this case, the order will work immediately), or you can set your price and the order will be executed when the price drops to the desired value.
To buy a coin, it is necessary to indicate in Bitcoin amount in the purchase order (BUY), the number of coins you want to buy and confirm the action with the corresponding “BUY” button. The sale is carried out in the same way - in the “SELL” order enter the price for one unit and the number of coins sold, and then press the “SELL” button.
When making transactions, be sure to take into account the commission of the system, which ranges from 0 to 0,25% - the amount of the fee depends on the price at which the transaction is made. Most recently, the exchange switched to a new model for taking commissions, which implies a reduction in its size if the sale is higher than the market price and the purchase is lower.
Poloniex how to withdraw money
After the exchange gives the first fruits of profit, you can withdraw them from the system to your wallet in the payment system and even to a real bank card. I advise you to use the proven and all-favorite service Bestchange, which is a monitoring of the best network exchangers. Here you can choose any direction of exchange, and with the best rate, and you should not be afraid of running into scammers - only proven exchange services are presented on the monitoring.
You can also withdraw money from the Polonix Exchange directly to your Bitcoin wallet:
- So, go to the tab Balances - Deposits & Withdrawals. Choose the cryptocurrency you are interested in, which you want to withdraw and click Withdraw
- Insert the address of the wallet to which you want to transfer the cue ball and enter the required amount, taking into account the commission of the trading platform, in the appropriate field. Next, click the "Withdraw" button.
- Go to the mail linked to the account on the exchange and confirm the withdrawal. To do this, simply follow the link provided in the letter.
- The money has been sent and, after approval of the application and the required number of confirmations from the blockchain network, will go to the specified wallet.
Cryptobirge Polonex is very popular and the number of users is growing every day. At the same time, most traders rate the site positively, noting that it provides unique conditions due to which cryptocurrency trading brings a solid profit. However, negative reviews can also be found online, most often due to the blocking of accounts for breaking any rules. We must pay tribute to the security of the exchange, because the administration monitors the transactions of participants and, in order to prevent hacking and theft of users' funds, asks to be forcibly verified. I think this is not a significant disadvantage, we all want our funds to be protected, so this approach is quite reasonable.
If we talk about my opinion about Polonix, then I openly sympathize with the trading platform - it occupies a leading position in terms of trading volumes and the number of currencies, which means that you can really make good money, and this fact has already been personally verified by many. I hope the exchange will still make us profit for a long time, so it's time to join the new cryptocurrency movement, because capitalization growing, and with it, and their course, which allows you to earn huge profits. Successful trading!
A professional investor with 5 years of experience with various financial instruments, maintains his blog and advises depositors. Own effective methods and information support for investments.