The reputable and authorized cryptocurrency exchange, Poloniex, serves both seasoned and novice traders. It provides a variety of crypto market presence, complex transaction kinds, and leverage trading to traders from different backgrounds.
Placed among the world’s biggest cryptocurrency exchanges, Poloniex has had many highs and lows during the past 8 years. Poloniex’s development and focus have not changed despite the crashes, layoffs, and hiring freezes in the cryptocurrency industry; the firm expects to triple its workforce in 2022 and continue to grow its cohort in the third and the fourth quarters. This service focuses on cryptocurrency trading and offers a number of supported coins together with reasonable costs.
Special tools like limit orders, spot and futures trading, and live order books are offered for aggressive traders. Users on Poloniex have access to 500+ coins providing great flexibility, which is higher than on other centralized exchanges. This platform will keep on drawing individuals of a higher caliber, producing wonderful products and services for clients. The ongoing hiring of talent demonstrates Poloniex’s strength as a competitor. Poloniex is not discouraged by challenges; rather, it grows stronger when all third-tier businesses leave the market to create a better ecosystem.
Poloniex’s New and Improved Platform
The new trading system, which is available to consumers on August 01, 2022, with a 30x faster order matching speed, has been implemented by Poloniex with a lot of success. Having a super powerful trading platform with improved speed, stability, and use is advantageous.
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The system was improved by several changes that increased the new trading system’s TPS and order matching speed by 10 and 30 times, respectively. Additionally, the latency has decreased by 50%. Market players, seasoned traders, and other individuals stand to gain from higher liquidity and will benefit from their new APIs, providing more functionality and reduced latency.
Besides speed, with a microservice architecture, clustered deployment, and service auto-scaling in the event of a severe traffic surge, Poloniex’s new trading system enhances dependability. In a nutshell, the modifications improve its capacity to handle traffic peaks, enabling clients to conduct business uninterruptedly around the clock.
High Liquidity and Future Trading
Buy, sell, and stop limit orders are all acceptable trading orders on Poloniex. The orders can be filled when trading Bitcoin, Tether, and other currencies. Poloniex exchange handled 99 percent of Tether’s transaction volume in 2017 due to the platform’s high liquidity. Margin trading is also supported by Poloniex, with some pairs providing up to 50x leverage. Moreover, no other cryptocurrency exchange offers the financing option that the Poloniex exchange gives its users. With this popular choice, you can offer or seek a loan in exchange for a predetermined interest rate.
Poloniex’s New Zero Trading Fees
It just doesn’t end there! To commemorate the August 1, 2022 (UTC) debut of the new trading system, which seeks to provide traders with a better experience, Poloniex will begin offering zero-fee trading for 24 USD spot trading pairs on August 8, with plans to extend this policy to all spot trading pairs in the future. The 24 spot trading pairs are as follows:
USDD / USDT, USDD / USDC, BTC / USDD, ETH / USDD, TRX / USDD, LTC / USDD, DOT / USDD, KUB / USDD, TUSD / USDD, USDH / USDD, FRAX / USDD, XRP / USDD, HBB / USDD, WLKN / USDD, DOGE / USDD, JST / USDD, SUN / USDD, WIN / USDD, BTT / USDD, NFT / USDD, WLUNA / USDD, SHIB / USDD, ELON / USDD, and SHIT / USDD.
Potential hard fork coins for ETH are supported and listed on Poloniex
The ETH 2.0 Merge upgrade is expected to begin in September 2022 on Ethereum. Poloniex, the first exchange in the world to accept both Ethereum as well as Ethereum Classic, will fully support both ETH’s upgrade and any potential hard forks. If the Merge is successful, the upgrade can result in the creation of two parallel blockchains. When the update is finished, all ETH owners on the exchange platform will acquire the forked assets in a 1:1 ratio.
Two “possible forked” Ethereum tokens and their related markets will be listed on Poloniex. Here are the specifics:-
- ETH holders on Poloniex can go to the swap page and exchange their ETH into two “possible forked” tokens, ETHS [IOU] and ETHW [IOU], at a 1:1 ratio, prior to the release of the official ETH 2.0 upgrade. The corresponding markets will be introduced by Poloniex.
- Prior to the upgrade, Poloniex will capture an informal picture of the ETHS balances. The ETHS market will be removed and immediately converted into updated Ethereum at a 1:1 ratio if the Ethereum 2.0 upgrade results in more than one chain. The Proof-of-work chain with the highest hashrate will be the primary chain of ETHW following the hard fork.
The ETH sign will be kept if the Ethereum 2.0 upgrade is successful and Ethereum switches from Proof-of-Work to Proof-of-Stake without a fork. In this scenario, ETHS will be upgraded to the updated ETH, and Poloniex will cease and suspend ETHS, ETHW, and its related markets. Please exercise caution due to the possible risks.
Trading is made incredibly easy by Poloniex. With daily transaction volumes over $50 million, the exchange is extremely functioning and well-known, making it one of the finest in the sector. They generate revenue by assessing a fee for each transaction that takes place on their network.
More options are available to expert traders on Poloniex, including futures trading with a 50x leverage. Considering the most recent platform improvements and expanded capabilities, you can also use it. Poloniex is a good option for anyone seeking for a reliable, useful, and profitable cryptocurrency exchange because of all these advantages.