Poloniex Exchange: (Part 2)

Hello Steemians,
Hope you and your loved ones are doing great?
Today I'm here to give you the second part of poloniex exchange of which the part 1 was base on poloniex features. Incase you missed reading the previous post you can still read it Here

Here is the table of contents:

• Poloniex supported countries
• Poloniex verification tiers
• Poloniex Transaction Fees
• Poloniex Security
• Poloniex Usability
• Poloniex Mobile App
• Poloniex Customer Support
• Deposit and Withdrawal Methods

Poloniex supported countries
Poloniex is a worldwide exchange with only a few restrictions in some countries. The access to the Poloniex platform as at the time of writing this post, is restricted for the residents and citizens of the following countries:

• The United States
• North Korea Sudan
• Iran
• Cuba
• Syria

Users from other countries can use and trade on poloniex without being prohibited.

You only need to provide your email, and phone number, since KYC is optional to access poloniex exchange.

Poloniex

Poloniex verification tiers
Poloniex exchange offers two ways to verified your account: Level 1 and Level 2.
Level 1: Level one verification is by default once you sign up on Poloniex. It allows for unlimited spot trading, deposits, impose an up to USD 20,000 daily withdrawal limit, and all other Poloniex services. You won’t be able to access Poloniex margin trading and IEO LaunchBase though and may experience issues with account recovery.
Level 2: Allow you to access all Poloniex features, including up to USD 750,000 per day.
For level 1 verification, you only need to register on the exchange using a valid email address.For
level 2, you will need to submit the following information and documents:

• Your residential address
• Your date of birth
• Your phone number
• Your ID, driver's license, or identity

Poloniex Fees
When it comes to trading, Poloniex fees are amongst the lowest in cryptocurrency industry. Poloniex charges its users for placing spot and margin trades, as well as cryptocurrency withdrawals.
The Poloniex trading fee schedule is rather straightforward. The fee you pay per trade depends on whether you’re on the taker or maker side of the deal, as well as your 30-day trading volume. VIP customers that fall into Poloniex Plus Silver, Gold, or market maker tiers pay 0% for maker trades and less than 0.04% for executed taker orders.

Poloniex Security
Despite going through a high-profile hack early in its beginnings, Poloniex has recovered and today is considered to be a reliable exchange in terms of security.
After the hack, Poloniex CEO Tristan D’Agosta wrote, and I quote:
“Since the hack, we implemented continual automatic auditing of the entire exchange, bolstered the security of all servers, and redesigned the way commands are processed so that an exploit like the one used in March is impossible.”
Even though the exchange lost 97 bitcoins, Poloniex had managed the situation relatively well.

Right now, poloniex has put the following security measures:

• Cryptographic signatures-based DNS cache protection.
• Protection against DoS attacks.
• Strong security against web attacks like robot infiltration.
• Role accounts to protect users private information
• Most of the Poloniex user funds are stored in cold wallets.
• Registry lock to prevent unauthorized changes to the website.
• Two-factor authentication.
• Email confirmations and IP lockouts.
• Session log history.

One good thing about poloniex is that it respects your privacy.

Poloniex Usability
The range of screens, windows, and boxes it offers may confuse a more inexperienced trader at first. In contrast, an experienced trader may enjoy a great deal of flexibility and power in how they go about their crypto trading, be it spot, margin trades, lending, or participating in crypto project crowdfunding.

Exchange view. Source
To me poloniex is one of the easiest exchange for trading.

Poloniex Wallet. Source: poloniex.com
With the “Transfer Balances” section, you can easily fund your exchange or lending accounts with a few simple clicks.

Transfer balance. Source: poloniex.com

For those who don’t have any cryptocurrency, you can buy crypto directly with your credit or debit card using its Simplex integration - it will cost you either USD 10 dollars or 3.5% off a total transaction amount. Or as a Steemians you just need to transfer your steem in exchange of any cryptocurrency of your choice.

Poloniex Mobile App

Mobile App View. Source: poloniex.com

The apps are convenient for trading on the go, but they do not include all features available on the website. And it's accessible to both Android and IOS devices.

Poloniex Customer Support
Poloniex customer support is sort of a mixed bag, as many users have complained about how slow it is to respond. Regardless, it is reachable via the following channels:

• Support ticket system via the help center
• Extensive FAQ knowledge base
• Trollbox
• Twitter and other social media channels.
  It does not offer phone support and is said to reply within several days. The fastest way to get support is by asking the moderators in the trollbox directly.

Deposit and Withdrawal Methods

Source

Poloniex allows you to trades only in cryptocurrency so you have to make crypto deposits and withdrawals. Fortunately, this is simple enough: the Deposit & Withdrawals page gives you a wallet address for each cryptocurrency you wish to deposit, and it allows you to enter their own external crypto wallet address for any currency that you want to withdraw.
Unfortunately poloniex does not support fiat deposits, when writing this post but you can buy bitcoin and other cryptocurrencies using your credit, or debit card even your steem via the exchange’s integration with the crypto payments processor Simplex.
One good thing is that poloniex deposit and withdrawal method are process fast. And it doesn't charge a fee when withdrawing cryptocurrency.

Thanks for reading this post.

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