Poloniex is one of the biggest exchange and is among top 10 exchanges according to Coinmarketcap in terms of volume. Based in US, the exchange provides trade pairs among different cryptocurrencies and tokens, majority of them ranking in top 50. Poloniex offers a secure trading environment and provides advanced charts to its customers for assisting them.
Poloniex is one of best exchange for beginners and newbies who are entering into the market due to the fact that it has biggest volume and you can expect your order to be filled relatively quickly. Furthermore this exchange has an edge on others because of its “Stop Loss” order. It is a unique kind of order placement where your buy/sell order will be filled if the price reaches the desired position whether high or low.
Pros of Poloniex that it boasts about
1- No compromise on security by keeping hackers out and securing your funds in cold wallet
2- You can get live movement of prices without any delay
3- You never trade on fractional reserves
4- High trading volume
5- Large number of traders
6- Mobile friendly website
7- Bitcoin and Altcoin Lending Options
8- Stop limit order
9- Supports Margin trading
However, there are some cons of using Poloniex as well
1- Can be slow and lagging. Users have reported to face lagging and slow loading issues due to big traffic
2- Crashes. In the past Poloniex has been down several times specially at times of significant price changes.
3- Accused of insider trading in 2017 when it delisted dozens of Altcoins shortly after they were pumped
4- Slow Support response. Sometimes your account verification or ticket can take more than a week.
5- Hardly list a new token or Cryptocurrency at time of writing this post.
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