Poloniex review: fees, KYC, local currency and P2P
A review of Poloniex, one of the leading crypto exchanges. Rates for popular trading pairs and crypto trading tools: trading, P2P. Trading fees and limits.
24h volume, $
822,593,883
Liquidity score
423
Fiat on-ramp
Maker
0.09%
Deposits and withdrawals for local users on Poloniex
Poloniex has no dedicated local-currency P2P market. The main deposit method for local users is crypto; P2P lending (loans at interest) is also available.
Local currency P2P
No dedicated market — deposits via crypto
Mandatory KYC
Verification is required to use the platform
P2P lending
You can lend or borrow at interest
Fee discount
Up to 30% when paying with the TRX token
KYC and verification on Poloniex
Verification on Poloniex is mandatory for access to trading and withdrawals:
LevelRequirementsAccess/limits
Basic KYCPassport + selfieTrading, deposits/withdrawals
AdvancedAdditional confirmationHigher limits
Reviews and verdict: is Poloniex worth using?
Pros
- One of the oldest exchanges (since 2014)
- Fee discount of up to 30% with the TRX token
- Spot, futures up to 100x, P2P lending
- TradingView charts, staking
- Low minimum deposit
Cons
- No dedicated local-currency P2P
- Mandatory KYC for all operations
- Unregulated, with a history of account freezes
- Volumes and liquidity below those of top exchanges
Bottom line: Poloniex is a veteran exchange from the TRON ecosystem with moderate fees and futures trading. It is available to local users, but without local-currency P2P and with mandatory KYC, so depositing in crypto is more convenient.
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