Poloniex Exchange

Poloniex is a popular cryptocurrency exchange that many of us are familiar with, especially those who work on Steemit. It is currently available to users in many countries but is banned or under investigation in others. While it is accessible to all users in other countries, it has closed its services to US users since 2019. It is gradually adding more services with the goal of becoming more than a cryptocurrency exchange. It is adding a variety of features with that goal, including what it sees as services for Web 3, the Metaverse, and decentralized finance. Poloniex Exchange is owned by Polo Digital Assets, Ltd. which is backed by an Asian investment firm.

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Poloniex was founded in early 2013. It has emerged as an important and polarizing name in the digital asset exchange to position their platform differently and attractively. It wanted to work very well for the security of its relationship and transactions with the users and to provide good enough security of the digital assets of the users. While it is not accessible to US citizens, it is currently accessible to users in many countries. It provides a platform to trade cryptocurrencies, non-fungible tokens and crypto futures if it allows access for citizens of any country. However, it is slowly becoming more than an exchange, expanding its footprint into the digital space to become involved in the development of the metaverse and all things decentralized finance.

Poloniex was an exchange site that was once known as the world's leading cryptocurrency exchange. At one time the trading volume of this exchange site was very high. But after it was bought by Circle in 2018 and spun off in 2019, its trading volume dropped significantly. One of the reasons is the 2019 ban on access to US citizens and users in the United States. Moreover, it is currently under criticism by the US SEC and some countries. It is currently under fire from regulators in the US, Canada and the UK for illegal securities practices. So many are worried about its future.

It is a cryptocurrency exchange site that allows trading of BTC, Ether and other altcoins including Tron(TRX) like other exchange sites. One of the most important thing is that this exchange site guarantees the security that its users will feel safe and secure while conducting transactions. The platform's hot wallets were attacked last November Which many of us probably know about and which is why it has become a hot topic of discussion. More than $114 million was stolen from user wallets when the platform's hot wallets were attacked. After this amount of money was stolen which suggested there was a gap in the exchange's security protocols But they claimed they contracted a security auditing firm. And this security auditing firm is expected to help identify any issues and resolve them. Anyway hope it makes a good comeback.