Poloniex is a cryptocurrency exchange software product that helps you optimize your crypto holdings. Coin lending functionalities allow you to let other users borrow coins while you collect interest in them. You can also hedge your funds against price fluctuations and purchase futures that mature later. The exchange also enables you to customize the program through API capabilities for a dedicated workflow solution that meets your unique business requirements.
Poloniex is available as a cloud-based program and mobile app for Android and iOS devices.
Who Uses Poloniex?
This crypto exchange product is used by individual traders and businesses worldwide in various industries, including IT, accounting, financial services, wellness, PR, and investing.
- Digital currency trading platform: The exchange enables you to trade a variety of cryptocurrency products. It houses both popular and upcoming coins so that you can build a diverse portfolio. This tactic helps protect you from the ups and downs of the market; if one coin drops in value, you’ll have others that keep you afloat.
- P2P capabilities: Unlike many crypto exchanges, Poloniex supports peer-to-peer (P2P) trading. P2P allows you to locate and trade with individuals around the world.
- Margin trading: The supports coin lending; you can let others borrow coins and collect interest on them. The program also supports hedge funds to help protect you against price movements.
- Futures trading: The software comes equipped with futures tools that allow users to speculate on future crypto pricing. It enables you to gain exposure to the coins without having to hold them.
- Soft staking: The program also allows you to collect rewards just for holding assets in your account. The longer you keep coins in your wallet, the more free coins the vendor will give you.
- Customization: The exchange allows you to create your own custom work environment through application programming interface (API) support. You can establish in-depth reporting capabilities, create company-specific workflows, and generate integrations with external third-party software products.
The vendor has several tiers of fees available for both traders and makers. They charge these every 30 days, and they are based on the volume of trading that took place for both P2P parties involved. More detailed pricing information can be found on the website; you can also contact the vendor with additional questions regarding the product and pricing.
In summary, Poloniex helps streamline crypto exchanges for business worldwide using a robust staking toolkit that allows users to earn interest on your crypto holdings passively.