Unbiased review of Poloniex trading platform

Pros and cons of Poloniex trading

In pursuit of a suitable cryptocurrency exchange, we pay attention to convenience, first of all. We want to get down to business fast and easily. However, many venues now create multiple barriers on the way and most of them are not to blame for it. New security regulations and verification tiers make the procedure endless at times. The same is true for Poloniex trading rules. They are too strict so do not expect that you’ll be able to get down to work immediately.

This is a popular American cryptoexchange, which has been buying and selling virtual currencies since 2014. The exchange belongs to Circle – a company supported by Goldman Sachs. When CNN tried to reveal how long it takes to trade Bytecoin, the outcome was unexpected. 2000 confirmations were required to start serious work. The procedure took three days. This is a huge drawback that makes the activity inconvenient. Still if you value the reliability Poloniex trading platform is a brilliant choice. The volume of trade is one of the highest between crypto venues, which exchange real money to coins and on the contrary. It was reported about the daily volume of the service surpassing 100 million US dollars. Members have to pay rather moderate trading fees to use Poloniex service. The fee is charged per trade and both sides have to pay it.
The platform suits users with different level of experience. Some users need Poloniex trading tips trying to figure out how to earn on the resource, others are experienced enough and are ready to share the hints on the subject. The beginners can use trading signals while using Poloniex service. More advanced clients resort to bots when they need to automate the process. One should just determine Poloniex trading strategy and adjust the tool accordingly. There can be diverse strategies, which depends upon your goals and style to conclude deals. Additionally, there are such services as margin trading and lending available for advanced users. The developers can create Python trading bot on their own and use the script to increase the profit. It is necessary to retrieve data from Poloniex API to make it.

Poloniex offers many trading pairs and this is the advantage of the service. Not long ago Poloniex launched its mobile app for iOS and Android letting you continue your activity on the move. The company tries to deliver the best user experience to its clients. They get charts in different intervals of time, have the ability to manage the coins and get required alerts. It is enough just to generate API key to start trading via tablet or smartphone.

There are other good news on the site as well. One of them is integration of Poloniex with TradingView. This is a very famous resource that presents professional trading and charting platform used by multiple traders. The clients can see the information without leaving the exchange and make better decisions. It offers advanced visualization that contributes to traders’ activity. It is often used as a social network where people working in the cryptocurrency sphere communicate with each other.

The platform has a nice interface that is simple in use. The beginning customers understand everything easily without effort. The liquidity of the platform is very high. The exchange is rather active. There are more than 140 BTC and Monero markets on it. The transactions with more than 100 currencies including Darkcoin and other altcoins are concluded on the exchange.

Those who understand technical analysis, are able to follow the charts displayed on the site. The situation on the market changes very fast, so it is important to have access to latest news. You can rely upon the resource, which always provide acute data on cryptos value.

Auditing program makes the site safe and secure. It records all transactions performed by clients. The auditing service works round the clock without days off so nothing threatens your assets. Any suspicious action is detected fast and the user who brings harm to the service is blocked without delay. The site is encrypted and uses contemporary methods of protection to prevent fraudulent activity. 2-factor authentication is just one of security measures used on the site. Cold storage wallets are also employed to keep the customers’ deposits secure. With money stored online, no hacker is able to steal the funds.

As you see, the platform has many advantages but you can always try something new to compare it with other sites. The alternatives include such sites as OKCoin,  BitBay or some other resource. You can also try Livecoin as a promising option.