Updated: 30 may 2024
7 minutes

What Is Poloniex?

Where to Buy and Sell Cryptocurrencies

A crypto exchange is where you buy, sell and trade cryptocurrencies. To invest in crypto, you need to choose a platform first, and this Poloniex review can help. How do you find the right fit? 

Alongside the rise of crypto, many different platforms have come.

They’re different in terms of the options offered, usability and security. In this guide, we introduce you to the Poloniex exchange. Here, you will discover the Poloniex app, its level of security and how to trade there.


  • Over 350 cryptocurrencies offered
  • Low trading fees
  • Integrated NFT market

What Is the Poloniex Exchange?

Poloniex hosts services to sell, buy or trade cryptocurrencies. These top coins help to express what Poloniex is:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether (USDT)
  • BNB (BNB)
  • USD Coin (USDC)
  • Solana (SOL)
  • XRP (XRP)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Avalanche (AVAX)
  • TerraUSD (UST)
  • Binance USD (BUSD)
  • Polkadot (DOT)
  • Shiba Inu (SHIB)
  • Wrapped Bitcoin (WBTC)
  • Polygon (MATIC)
  • Kronos (CRO)
  • Dai (DAI)

*Keep in mind that Terra (LUNA) and NEAR Protocol (NEAR) are not available on Poloniex. However, the exchange hosts native tokens from various blockchains, which include:

  • ApeCoin (APE)
  • Dogelon (ELON)
  • Baby DogeCoin (I)
  • Ox (ZRX)
  • Decred (DCR)

The mobile version of the Poloniex exchange is available on Android and Apple.


Your Poloniex Review From Tokize

Poloniex was created by Tristan D’Agosta in 2014, but by 2018, the Circle Company bought the exchange and its ownership out. Circle is a crypto firm supported by investors like Justin Sun who is a well-known personality in the crypto world. Justin is the CEO of the crypto network Tron. 

Previously, he worked for the Ripple network in support of banking institutions. 

Circle’s takeover of Poloniex reportedly cost $400 million and was driven by the company’s ambition to “accelerate the token economy.” In November 2019, Poloniex was completely owned by Circle, and in that same year, the exchange’s headquarters moved from San Francisco to Bermuda. 

Although accessible in many countries, it is not available to users living in the United States.

Troubles With the SEC …

Circle’s takeover of Poloniex attracted the attention of the Securities and Exchange Commission. This securities police of the USA took action against Poloniex, accusing it of not being registered. As its basis, the SEC accused Poloniex of trading unregistered securities in 2017 to 2019. 

The commission’s claim was that Poloniex sold assets, without proper registration, illegally to U.S. citizens. This is while operating as if a U.S. company, renting an office within Boston. In its filing, Poloniex had to be registered to sell securities to the U.S., which is a clause causing delays for other sites too. 

The Ripple network was plagued by the SEC for two years on the same terms.

« Poloniex chose to increase profits rather than comply with federal securities laws[, selling] digital asset securities on its unregistered exchange. Poloniex attempted to circumvent the SEC’s regulatory regime, which applies to any market to bring together buyers and sellers of securities, regardless of the technology applied. » Kristina Littman, Responsable de la Cyber ​​Unit de la SEC Enforcement Division

Faced with this, Poloniex, having been acquired by Circle, was able to transact a settlement agreement with the SEC. In August 2021, the new Poloniex exchange, to clear its past with U.S. citizens, settled its action suit for $10.4 million. To no longer pursue the site for its U.S. dealing, Poloniex paid the SEC:

  • Restitution: $8,484,313
  • Prejudgment interest: $403,995
  • Civil penalty: $1.5 million

Some issues still lingered as the SEC has since drafted legislation to account for similar exchanges. The SEC said it needs time to “solicit and appoint a fund administrator capable of executing a claims process and developing and proposing a distribution plan.”


  • Over 350 cryptocurrencies offered
  • Low trading fees
  • Integrated NFT market

The Poloniex Ecosystem

Reviewing Modern Crypto Platforms

Like Binance or Coinbase, Poloniex offers more than just an exchange service. 

Find out more about the ecosystem below:

Crypto trading

Of course, the main service of Poloniex remains crypto trading. As mentioned above, the exchange gives you an edge by offering hundreds of cryptocurrencies. From meme coins, DeFi tokens, metaverse crypto and ICO tokens, you can find them all on the Poloniex app.

Poloniex has these two ways to trade crypto:

  • Spot pricing—This is how you buy crypto at specific prices. Your orders get executed according to a global price, which is ideal if you’re new to crypto.
  • Margin funding—Aimed at experienced investors, with margin, you can activate leverage to increase your account via credit. Poloniex offers stop-loss orders and up to 100-times leverage.

Bitcoin loans

You can lend bitcoin through Poloniex’s lending services. Have a look here: 

  • Bitcoin loans—This is for when you need liquidity but don’t want to sell your crypto. Your crypto, instead, becomes collateral to obtain bitcoins with.
  • Lending—Based on the crypto you invest in for a specific maturity date, you can earn passive income in the form of interest.

Promotional campaigns

You’ll find promotions on Poloniex’s exchange that, though time sensitive, will let you earn free tokens.

The launchpad

Like Binance, the Poloniex app has its own launchpad, which is a menu tab where you can search out new tokens. The search tool gives you the opportunity to invest into new projects or to purchase new tokens at lower prices. Just recently, Poloniex offered JUST and APENFT tokens within its launchpad.

The sponsorship program

Poloniex has a reliable referral program. Friends that use your referral link and open a Poloniex account count toward the rewards you get. Through the Space Travelers program, by referring Poloniex, you earn:

  • 10% off your trading fees
  • 60% of friend’s trading fees, which is rated based on your classification as a referrer:
  1. Rocket Scientist20%
  2. Moon Explorer30% for referring 15 to 30 people for at least $500,000
  3. Mars Adventurer—50% for referring 30 to 100 people for at least $1,000,000
  4. Sun Captain60% for referring 100 or more people for at least $3,000,000

Rewards and bonuses

Poloniex also has a tab where bonuses are and are associated with your “futures” trading volume that go into a “trial fund.” Trial funds cannot be withdrawn from, but you can use them to place futures orders or pay fees. For example, at the time of writing this guide, the active bonuses were:

  • $50 for futures trading of at least 500,000 USDT
  • $10 for Futures trading of at least 500 USDT
  • $2 for futures trading of at least 200 USDT

A decentralized exchange for TRC-20 tokens

The Poloniex exchange is usable as a decentralized crypto exchange (DEX) through SunSwap.

Unlike Poloniex, which is centralized, SunSwap allows you to exchange crypto peer-to-peer, which is to say without going through intermediaries. Like most DEXs, you cannot use fiat money but only crypto for the exchange, which is TRON in this case. 

SunSwap operates on the TRON blockchain and supports TRC-20 tokens. These tokens run on the TRON blockchain and are compatible with Ethereum. A few other tokens that SunSwap offers include:

  • TRON (TRX)
  • USD Coin (USDC)
  • Sun (SUN)
  • BitTorrent-New (BTT)
  • Bitcoin (BTCT)
  • Ethereum (ETH)
  • Wrapped BitTorrent-New (WBTT)
  • Wrapped TRON (WTRX)
  • JUST (JST)
  • WINkLink (WIN)
  • TRONbetLive (LIVE)
  • Tether (USDT)
  • TrueUSD (TUSD)
  • Huobi Token (HT)


  • Over 350 cryptocurrencies offered
  • Low trading fees
  • Integrated NFT market

How to Trade Crypto On Poloniex

Where Investors Go to Trade Crypto

Now that you know Poloniex a little better, find out how to trade crypto on the platform.

The exchange cannot be used in the following regions or countries:

  • Crimea
  • Cuba
  • Iraq
  • Iran
  • Libya
  • China
  • North Korea
  • Ontario
  • Sudan
  • Syria
  • United States and U.S. territories 

To open an account, the exchange asks for the following information:

  • E-mail—Poloniex recommends not to use a professional or student address.
  • Password—The password must be at least 8 alphanumeric digits with a minimum length of 32 characters. You must reconfirm the password to finalize your registration.
  • Acknowledgement—This says that you are over 18 years or older.

The Poloniex exchange offers two account tiers. The two levels are distinguished by their withdrawal thresholds as follows:

  • 1—$10,000 per withdrawal or $50,000 with 2FA (two-factor authentication)
  • 2—$500,000 per withdrawal or $1,000,000 with 2FA.

Verify your account

Once you’re verified, your account is then created. You’ll receive a link by which you must open to confirm via email. In addition, the platform uses KYC or “Know Your Customer” protocols. As a result, you will have to provide personal information and verifiable documents to prove your identity with.

Secure your account

You have the option of activating a two-factor authentication lock on your account. This can prevent malicious persons from connecting to the exchange in your name or carrying out transactions.

Each security option differs depending on whether you’re at tier 1 or 2. With tier 2, you can freely reset your password and collect insurance against the loss of your funds.

Fund your account

You can buy crypto with a bank or with a Visa and MasterCard. Other options include transfers or Apple Pay. The following assets can be purchased with your bank, debit or credit card:

  • Cosmos (ATOM)
  • Travala.com (AVA)
  • Bitcoin Cash (BCH)
  • BNB (BNB)
  • Bitcoin SV (BSV)
  • Bitcoin (BTC)
  • Binance USD (BUSD)
  • Dai (DAI)
  • Ethereum (ETH)
  • EOS (EOS)
  • Litecoin (LTC)
  • Pax Dollar (USDP)
  • Qtum (QTUM)
  • Tron (TRX)
  • Tether (USDT-ERC20)
  • Stellar (XLM)
  • XRP (XRP)

To buy crypto, you need to deposit funds into your account, which can be fiat or crypto to purchase the assets you want.

Trading from your account

Trading is carried out in the Poloniex Trade tab. Here, you will exchange one crypto into another. As stated above, the exchange offers hundreds of cryptocurrencies. In addition, you have the choice between spot or margin trading.

What Are the Fees On Poloniex?

As with any exchange, there are three types of fees:

  • Transaction fees—Depends on your 30-day trading volume. You can get a reduction by paying in Tron tokens. 
  • Deposit fees—No charge for deposits.
  • Withdrawal fees—Depends on the traffic on the blockchain, which can be viewed in your wallet.

Is Poloniex Exchange safe?

The Poloniex works diligently to ensure adequate security. Poloniex is relatively safe. Unfortunately, the platform experienced two significant attacks in 2014 and 2020. Let’s talk a little more about what happened in 2014.

Poloniex was the victim of that cyberattack on March 4, 2014. The thieves made off with around $4 million in crypto. Following this attack, the exchange lost the equivalent of 12.3% of bitcoin reserves.

As stated by the owner 

“The hacker discovered that if you place several withdrawals all in practically the same instant, they will get processed at more or less the same time. This will result in a negative balance, but valid insertions into the database, which then get picked up by the withdrawal daemon.” 

To avoid massive withdrawals from its users, Poloniex unanimously reduced its customers’ balances by exactly 12.3%. The loss, however, would be paid back overtime through network fees. 

If I didn’t make this adjustment, people would most likely withdraw all of their BTC as soon as possible to ensure they didn’t stay in the remaining 12.3%. » Tristan D’Agosta, CEO of Poloniex 

The platform survived its two cyberattacks without losing accounts or its reputation.

Regulations of the Poloniex Platform

Poloniex has a unique stance from a regulatory view. On one hand, Poloniex was once the critical focus of the SEC. On the other, the exchange distanced itself from the U.S. market, settling in Bermuda, to avoid U.S. regulations. For now, the exchange is not available to U.S. investors.


  • Over 350 cryptocurrencies offered
  • Low trading fees
  • Integrated NFT market

What We Thought of Poloniex

  • Over 400 crypto assets
  • Low fees
  • A complete ecosystem
  • DEX extensions via SunSawp
  • Access to margin
  • Account bonuses
  • Loyalty rewards
  • Spot pricing
  • Past stint with the SEC
  • Two cyberattacks since the exchange was created
  • Trading is not available to the United States
  • A complex interface for beginners


Poloniex is a crypto exchange for buying, selling and trading crypto. On Poloniex, you can buy crypto with fiat, bank cards, Apple Pay or through transfers.
Poloniex offers services for crypto trading, lending and new-token searches.
Poloniex offers 400 assets for trading. You’ll find major cryptocurrencies, DeFi tokens, memes, metaverse crypto and more.
The Poloniex platform implements recognizable security, and it has survived two attacks.