Transaction charges on Poloniex

I have seen so many write-ups regarding margin and lending trading since the poloniex contest started and I must say that it gave me an insight on what the entire system is all about but I also noticed that there haven’t been a lot of update on what the charges is all about.

Charges on every transaction is applicable on a basis of trade to trade transactions, there is going to be an updated charge rate according to the amount of transactions carried out by the account holder in the last thirty days, the more transaction carried out by an account holder, the lesser the charges that will be paid on subsequent transactions.

On poloniex there is an availability of making and taking orders, this simply means that one can easily place a trade order at the desired price as well as a sell order at a desired price until there is a matching buyer or seller to fill the position. Those traders who serve as makers (those who set orders) are the ones who control the liquidity of the market, market liquidity is often controlled by the set price and whenever a good set price is meet by a person who wants to buy, there is an automatic discount for the person who sets the price.

On poloniex, the presence of a lender and a borrower makes margin lending possible, the profit on a trade is determined by the amount of token loaned and on the profit that the lender makes, poloniex charges a 15% on the transaction. The good thing is that before any margin transaction is done, the profit rate is usually specified by the lender, which makes the borrower aware of what he is going into before diving completely into it.

For customers who are depositing tokens into a poloniex account, there is no charged fee for such transactions it is a completely free process but the account sending the token may be charged a little fee to complete the process of sending out the token.

The transfer will not be complete if there is no sufficient change in your account in order to complete the transaction process, for example a user who wants to make a transfer of 0.08BTC and has that exact amount in account, will not have a complete transaction except there is an available transaction fee available in such account also. The withdrawal charges charged based on transactions is very affordable and fair on poloniex, which is one of the reasons why poloniex trading remains a top trading option.