Hello @sapwood, this content is very good for steem community, for more especially those of us who would want to trade and invest well using poloniex. The post is said to be very detailed and I really found it very useful for me, though I have ever traded with poloniex but doesn't know much about into details like what this post explains.
Few noted points inferred from your extract:
"If the purpose of the trade is fiat, then you should trade STEEM/TRX, then transfer TRX to a suitable regional exchange to trade it for fiat."
I think it sounds good if one wants to trade steem and pay little amount of fees. That is why poloniex have so many trading options. But you have really explained how things work. Because many of us trade in without knowing the best way we can save a lot of money or beat high charges of fees.
Thanks very much for this amazing information you have fed our steem blockchain 🙏
Yes, strategically choosing a base currency like TRX can save a lot of withdrawal fees, which exchanges generally charge high than the Network fees. But Poloniex makes it as low as 0.01 TRX which is even less than a cent, means no fee will incur when you withdraw TRX.
Thank you.
Thank you.