It's my continuity on these great contest from my last entry. I would be talking about how to sign up onPoloniex Exchanger and how to use it so stay tuned.
Poloniex is a well-known cryptocurrency exchange platform where you can buy trade and sell different kinds of cryptocurrencies which including the likes bitcoin, ethereum and others. it was launched in 2014 by Tristan D'Agosta and the company is located in Delaware USA. Poloniex basically makes their money by charging both buyers and sellers on their platform some fees for their everyday transactions.
Everybody has their diverse interest when it comes to the use of exchanges. Some settle for the large options of coins in and exchange while others settle for low trading fees.
HOW TO CREATE AN ACCOUNT
Creating an account on poloniex it's very easy and here are the simple steps on how you can create your account.
Poloniex Sign Up Page
- First and foremost, you should visit Poloniex Website
- Click on Create Your Account
- Input your details like your Country, your email and your password.
Poloniex Sign Up Page
- Go to your email to click on a link sent by Poloniex and the verify your account.
Congratulations, you now have a valid Poloniex account.
HOW TO DEPOSIT FUNDS
When it come to finding your Poloniex account, it is important to remember that you can’t use fiat currency to fund Poloniex directly, you can only fund your Poloniex account with cryptocurrency.
Let take depositing bitcoin for instance.
- On your Poloniex dashboard, click on the 3 lines on the top right part.
- Click on Wallet
- Click on deposit. A list of different cryptocurrencies would appear tha you can buy. Check for bitcoin then click on Deposit.
- A page would appear with the deposit address for the bitcoin you want to deposit in your account with. Follow the steps and find your account successfully. It is important to note that the unique adress has to be copied and pasted correctly to avoid loss of the cryptocurrency you are depositing in your account.
Congratulation, your account has been funded successfully.
PROS AND CONS OF POLONIEX
- Trades various cryptocurrencies
- Must be security conscious as a Us-based company
- Charge blockchain fees for withdrawals and deposits only
- Great customer support options
- Easy to use and best for advanced traders
- No verification except when trading gmbig amounts.
- Low trading fee of most 0.125%
No traditional payment method like the use of credit/debit card since they have no affiliation with real physical money
- Experienced a major hack in 2014
- Has a history of losing people's money
These is how to open a Poloniex account and how to fund it, I hope it was enlightening to you because with these you can start using Polonoex and it's great features for your trading.
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