Poloniex

The Poloniex Exchange, which describes itself as a "legendary cryptocurrency exchange", is not as popular as it used to be, but it still offers quality services when it comes to Bitcoin and altcoin trading. This exchange offers the lowest cost in this industry and only asks for your email when registering because authentication is 100% optional. However, in terms of customer service, it lags behind other exchanges. Also in (2014) has experienced security breaches.

After the change of ownership of the exchange in (2019), Poloniex moved to Seychelles and adopted a more open and unregulated approach, which gives you a wider range of services, including support for more digital currencies and ...

Poloniex Exchange History

Poloniex Exchange was established in 2014 by a man named Tristan D’Agosta in Delaware, USA.

The founder of this company in the past has a history of musicianship and founding Poloniex Sheet Music in (2010).

Immediately after starting work, Poloniex was hacked in March 2014, losing about 12% of its BTC, which was valued at approximately $50,000 at the time.

However, the exchange management explicitly responded to the hack by offering a full refund of the 97 Bitcoins stolen from D'Agosta's profit.

After a shaky start, Poloniex was forced to temporarily increase its fees and in (2016) became very famous for being Ethereum's first digital currency exchange.

After that, the trading volume of the exchange began to increase and it became one of the most popular exchanges in terms of liquidity.

In early 2018, Poloniex was acquired by payment company, Circle, which reported the goal was turning it into the first fully-fledged digital exchange in the United States.

The company paid $400,000 for the purchase.

Another important point and weakness of Poloniex exchange was customer support, which was very boring for customers and there were more than 14,000 customer support tickets that did not receive a response.

It is reported that some customers waited for several months to be informed of the stock exchange. Such poor customer service has led to the loss of thousands of Poloniex users.

Poloniex countries support them

Currently, Poloniex is a global exchange with only a few geographical restrictions. Residents and citizens of the following countries are not allowed access to this exchange:

• Cuba

• Iran

• North Korea

• Sudan

• Syria

• United States

Users of other countries can access and trade in Poloniex without any restrictions. You only need to provide your email to access its services, as authentication is optional.

Pros and cons of Poloniex Exchange

Positive points

• Support for a wide range of digital currencies

• Use the only email for business and authentication

• Support for margin trading

• Very low costs

Cons

• Poor customer support

• Do not trade Fiat currency

• History of hacking in the past