Offering the services of buying and trading crypto, the Poloniex platform is one of the best ones in the industry. It is a peer-to-peer (P2P) trading platform and is based in the United States of America.

This is well-known for its user-friendly interface and leading-edge features among other things. It also supports some of the most distinctive features such as crypto staking, lending and more. Anyone interested in using the platform should know more details about what the exchange has to offer so they can determine how well the crypto exchange suits their trading requirements and needs.

Here is a brief Poloniex exchange review that takes a deeper look into some of the top features offered to the users.

The Poloniex Platform is Versatile

This crypto exchange was originally designed to be a crypto-to-crypto exchange. However, it later converted into a proper crypto trading platform and supports several other features as well. There are several outstanding attributes of the exchange as mentioned in this brief review. As a potential user of the exchange, you should know what the available features and decide whether you want to use it or not accordingly.

Account Opening Process

Poloniex is known to have a user-friendly interface, which means that the process to open an account, buy and trade crypto is easy, simple and straightforward. Users of the exchange can open an account in no time, by following a few simple steps.

If you want to create an account, here are the steps you need to follow.

• Start by visiting the website of the exchange and signing up.
• Specify your personal details and create an email and password.
• You can then agree with the user agreement terms.
• Check your email for verification email.
• Once you verify your email you will have to sign in by using your credentials.
• You can start trading cryptocurrencies as soon as you sign in.

There are two levels of the signing up process. Level 1 is verified immediately and allows users to engage in:

• Futures trading
• Crypto lending
• Card purchases
• Withdrawal of assets (up to $10,000 daily)

Level 2 opens doors for users to access more and advanced features and requires users to complete their KYC (know your customer) verification.

Safety and Security Offered

The Poloniex platform makes use of some of the cutting-edge safety systems that make it one of the safest exchanges in the market. However, the level of security offered was not always so strong as the platform suffered from a major cyber attack a few years ago.

Since then, the platform has doubled down on its security protocols and now implements some of the most advanced ones to ensure user funds, information and privacy are kept same from any kind of cyber threat or risk.

Some of the top security systems used by the platform and mentioned in this brief Poloniex exchange review are:

• Cold wallets
• DoS attacks protection
• IP lockouts
• Protection against robot infiltration and more
• Registry locks
• Role accounts for privacy protection
• Signature-based cryptographic DNS cache protection
• Two-Factor Authentication (2FA)

Poloniex is also one of the rarest platforms that has been fully regulated by financial regulatory services such as:

• FinCEN
• FSA
• FINRA

Trading Tools Available

The Poloniex platform is a high-end and advanced trading platform that supports impressive trading tools. While the same tools are also supported by other platforms, you should still know what it offers.

As a user of the exchange you will have access to:

• Different stop-loss orders
• Different buy orders
• Multiple indicators

Crypto Lending

As mentioned in this brief Poloniex exchange review, the platform supports crypto lending among other unique features. Crypto lending is a popular feature that enables crypto owners to lend their crypto to borrowers and get rewards in return.

The amount or limit that you can lend as a user of Poloniex, would depend on your overall funds and the type of account you have.

Margin Trading

Margin trading is one of the topmost features many crypto traders look for. This is an advanced trading strategy that comes with high risks and high rewards, even though the rewards are never guaranteed.

This trading strategy poses a lot of risk to the traders, regardless of their prior experience and information they have. Margin trading or leverage trading allows traders to open bigger trading positions by borrowing funds from brokers. This is also called trading with leverage because the amount borrowed from brokers is called leverage. Margin traders can either get high profits or high losses, depending on how their trades go.

Different exchanges offer different leverage ratios to the users and the Poloniex platform offers up to 100x leverage. This is one of the highest leverages in the industry and traders should be careful while opting for leverage because choosing too much leverage can result in liquidation of positions.