As the awareness of cryptocurrency continue to increase all over the globe, investors have initiated new ways to conduct trade in space. New startups, apps, modes of fundraising, tokens and currencies themselves have all entered the market at a rate that is sometimes astounding. Security and cyber-crimes are on the rise.
Cryptocurrency exchange are platforms where individual trade cryptocurrencies in the readily accepted currency or to other digital currencies.
Who they and what they do
Poloniex exchange is a crypto – crypto exchange platform that exchanges digital currencies to other digital currencies or a government based currency. It is a type of exchange through which users can transact in different digital currencies around the world.
exchange
It was first launched in 2014 by Tristan D'Agosta (CEO). The company's offices are located in Delaware in the U.S., the exchange because popular after it was acquired by Circle int. financial ltd for $400 million in 2018. They are considered to be the 6th most popular exchange platform in the world by volume.
Since its initial lunch it experience numerous redesign and expansions, as well as changes in its trading features. With Poloniex, users must already own at least some quantity of one of the digital currencies on offer in order to participate in the exchange market.
Advantages of trading via Poloniex exchange platforms
*A whole lots of cryptocurrency enlisted
Easy to use but also good for more advance traders
It has a reasonable trading fee, so they always involved with a lot of deposits and withdrawal
Since it operates in the U.S, it is expected to take security very seriously
It no verification, unless when trading with large amount
It has a good selection of user friendly tools.
Disadvantages of trading with Polonix platforms
- One of the main disadvantages of using the Poloniex platform is that it does not allow you to use traditional payment methods such as a debit/credit card or a bank account. So most merchants visiting for the first time might get frustrated and may decide to fund with a cryptocurrency.
The next disadvantage of using Poloniex is that there are still questions regarding security. This is because, when they were hacked in 2014, about 12.3% of the entire bitcoin was stolen. Everyone who was a victim of that cyber-attack where actually paid by the founder.
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