Spotlight on Poloniex Contest: Poloniex#7: Referral program & Fees

Hello steemians, for this last article about the Poloniex exchange platform in the contest #poloniexspotlight I present to you its referral program and fees which necessarily reinforce the expansion of this network in the world of crypto exchange.

Introduction :

The principles of the referral program are very simple and give anyone, anywhere in the world, a great opportunity to earn daily passive income through referral links by donating a percentage of all the sponsorship fees.

Poloniex's referral program respects this principle by earning a bonus for each successful referral registered in your account.

To get started, you need to go to the Poloniex referral page. You can also click on Settings button -> Referrals,

The page below appears:

How does the Poloniex referral program work?

Once you are logged in to the page above, you can copy your referral link or send an invite link to a friend via Email, Twitter, Messenger or Facebook.

Your friends can click on the referral link (or the link in the message) and open a Poloniex account. For the bonus to be validated, it is necessary that the referred user completes his profile, is part of one of the countries supported by Poloniex and initiates a purchase or sale with digital currencies.

Once all of these criteria are met, both the sponsor and the sponsored will receive a bonus as following :

• Users who invite their friends to register on the platform, named inviters, benefit from 20% on the trading fees of his referrals and as they refer as many friends as you want.

• Users who have been invited by a friend to Poloniex, named referrals, earn a 10% discount on their own trading fees by adding the referral code of the invitee during registration.

The referral once he creates an account he can become an inviter and join the referral program to earn more rewards.

Further informations :

You can Check if you are authorized, as a level 1 or 2 user, to participate in this program by accessing the settings to find your code, if you cannot find it, that is to say that you are not not allowed to participate because Poloniex has the right to eliminate users who do not respect the agreements and the general conditions of use of this program.

Among the behaviors that may eliminate you from a referral program, when you invite accounts owned or controlled by existing Poloniex customers.

Also, rewards will not be paid to frozen, closed or based accounts outside of a country on our prohibited countries list.

The rewards will be paid to inviter and referrals for 180 maximum at registration or the referral, or if both of them receive a total of 5000 USDC, it will be paid once per day in USDC.

How are net trading fees calculated?

The earnings in the referral program are calculated once the referral completes a transaction by combining the fees it has paid with the reason that the counterparty on the other side of its transaction has paid.

Net Trading Fee = [Trading Fee Paid By Reference + Trading Fee Paid By Trading Counterparty]

The total net trading fee is rolled up per day to determine the Daily Rewards for the inviter and referral.

Fees

Before starting to consider transaction fees at Poloniex, you must have a quick understanding of the two concepts Maker and Taker, because almost all cryptocurrency exchanges classify transaction fees according to these 2 concepts.

Maker: an order is considered Maker if it is posted to the Order Book in pending position to be traded

Taker: is the type of order that is executed / traded immediately with a corresponding order in the Order Book.

Maker's transaction fee is usually lower than Taker's because Maker's order creates liquidity for the Order Book, while Taker is seen as taking the liquidity on the Order Book. When an investor places an order in the market, the order is automatically divided into Maker or Taker, the transaction fee will only be paid when the order is executed / traded.

Poloniex also supports fees for investors who trade with large volumes. Maker transaction fees are relatively low in the market, but in return are relatively high for Taker orders if trading with low volume.

Conclusion :

At the end of this article I hope you have a clear idea about Poloniex's referral program and transaction fees and you have the choice now to confirm if this is the ideal market for you for these two criteria because each has its own exchange needs.

This post payout set to be 100% power up
Best Regards,
@kouba01