The Poloniex project is one of the modern exchange platforms, where users have opportunities to conduct trading activities using cryptocurrency assets. The Poloniex project was founded in 2014 in the United States by developers who emphasized the available functionality and user-friendliness of the site. Poloniex network members can count on a high level of working environment security and an extensive toolkit for analyzing graphs and information to maximize the effectiveness of the tools.
Features of the Poloniex platform
The Poloniex platform is a product of the work of American experts in the field of Blockchain technologies, who took care to provide the system users with the following opportunities:
- Conducting brokerage activities;
- The possibility of margin trading;
- The possibility of activities in the field of cryptocurrency lending.
Working conditions on the Poloniex platform
Along with providing users with a broad functionality, platform Poloniex also set certain conditions for working with assets within the system:
- Users have the opportunity to work only with cryptocurrency means – phiatic funds are not available for work in the system;
- To finance your own account and start trading activity, the user must first acquire the required cryptocurrency;
- After the successful acquisition of assets, tokens should be sent to the address that is provided to the user at the time of registration and a personal cabinet creating. If errors are made in the entered address data, the recovery of funds is impossible;
- The Poloniex system does not give users any guarantees regarding the terms for the transfer of funds from a third party customer or other sources;
- When choosing a cryptocurrency transfer from your wallet to the another, it is likely that the Poloniex system may reject the transaction or unexpected technical difficulties may arise. At the same time, the Poloniex platform does not assume responsibility for losses incurred by users as a result of a rejected operation;
- The Poloniex system can limit users to the quantity of the created accounts.
The Poloniex platform available options
In the process of creating the project, the developers of Poloniex took care that users could work in comfortable conditions with cryptocurrency assets. For such purpose, innovative technologies were integrated into the system, ensuring:
- Protection from hacker attacks – the main amount of deposit funds is placed in self-contained storages for conducting trading activities with maximum security and with the greatest efficiency;
- Round-the-clock monitoring – the integrated software allows continuous monitoring of exchange activity. The main task of software is to register and block suspicious activity to prevent technical problems and fraudulent activities within the framework of the Poloniex platform;
- User control of own funds – all monetary assets that are transferred to the account of the user are used as a tool to facilitate trading activities. The system does not use fractional reserves, unlike banking structures.
Poloniex platform security
To maximize the effectiveness of working with cryptocurrency assets and to prevent theft from fraudulent actions, Poloniex developers paid special attention to the platform security system. Standard data encryption technologies have been integrated into the site, and restrictions have been introduced regarding the storage and access to confidential user information. All business transactions and server resources are located in the US.
Maker-Taker at Poloniex
To ensure reliable liquidity and tightest spreads in the foreign exchange markets, the Poloniex system uses a special tariff plan for the order-picking process called Maker-Taker.
Maker, or creator, is one of the participants in an operation in which two parties are involved. The creator forms an order in the Order Book before the start of trading, and Taker, or the recipient, is responsible for placing an order corresponding to the created manufacturer. These orders affect the market liquidity indicators. Taker is an operating force that can remove liquidity by matching orders from Maker to its own.
Such work scheme contributes to the stimulation of liquidity in the market, while the creators receive remuneration in accordance with the indicators of liquidity in the form of discounts. In addition, this approach provides for tougher competition – producers try to outperform each other, which is justified by the possibility of obtaining greater rewards. The reason for the higher value of the position – that the depositor acquires is the possibility of using the best price, which provides a tightened spread.
Every day during the last month the system calculates and corrects user fees, which are shown in the form of a schedule.
Getting Started at Poloniex
To start using the resources of the Poloniex platform, you need to complete the registration procedure, which is a standard process and does not take a lot of time.
After creating a user account and assigning it an address for working with assets, you can start working with cryptocurrency.
More detailed information about the Poloniex project can be found on the official website of the company – https://poloniex.com.