Spotlight on poloniex : Poloniex The Lengendary cryptocurrency Exchange platform

Hello steemians welcome to my blog today. In response to the spotlight on poloniex review that was initiated by @steemitblog. I will be writing on poloniex. Basically about its features and its Advantage to the World of cryptocurrency.

What Is Poloniex And When Did It Began?

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Poloniex is a digital asset trading that can be done anywhere in the world. It's a type of exchange through which the users are enabled to transact any digital currencies around the globe.

Poloniex is similar to any of an ever increasing number of digital or cryptocurrency exchanges
headquatered in different countries.

what makes poloniex different from the way other exchanges are structed?

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However, is the fact that it is design as a pure and straight cryptocurrency-to-cryptocurrency exchange. users can only do their transaction with crptocurrency only.

In case of some cryptocurrency exchanges, users can buy cryptocurrency with or in fiat currency.

This is definately not the case for poloniex, all exchanges are done through cryptocurrencies
most crypto exchanges allows users to buy into cryptocurrency with fiat currency of some kind of difference.

With poloniex, users must own at least some quantity of the the digital currencies on offer in other to participate in the exchange market.

While this may seem on the surface to bring hindrance, many cryptocurrencies exchanges have nontheless flocked to poloniex for the variety of cryptocurrencies that includes the list of offering.

Poloneix has experienced numerous redesign and expansion since the day it was launched. the service now provides technical analysis and users supports it in addition to the original trading function, as well as an expanded range of trading features.

poloniex fees

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According to the exchange online headquaters, poloniex operates base on a volume tiered, maker taker fee, this schedule was was adopted in march 2016.

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The maker taker models encourages market liquidity by rewarding the makers of that liquidity with a discount fee reward, according to the website. it also result a tighter market spread due to the increased incentive for makers to outbid each others.

The higher fee the taker pays is usually offset by the better prices this tighter spread provides.

In the other words, the higher a user is trading volume over the last 30-days period, the lower the fee that user experience.

The maker taker model, in use in a variety of type of exchanges throughout the financial world, aim to incentivize trader within a particular market.

It does this by offering market an incentive to post orders, thereby facility traders on the other hand

Refrence: investopedia