Why Poloniex and how to setup your account

Hello Steemers,

Today we're going to talk about one of the best cryptocurrency exchanges (at least in my opinion).

Poloniex is a company based in Wilmington, DE, USA since 2014, and it is one of the biggest players in the market.

The reason why I trust Poloniex, is because it is based in the USA, it's a very old one and Delaware State is really a friendly american state towards cryptocurrencies (with its own legislation about it).

When we first access https://www.poloniex.com site, the appearance we have is the one shown below:

To start trading on Poloniex, first one has to create an account (it's really simple and intuitive). Then after creating the account, the person will receive a confirmation email to activate the referred account.

When you first log in to Poloniex, the appearance we have is the one below (please note that I have activated the night mode view):

The first thing the user should do is to verify his/her account, because this company takes the AML/KYC policy really serious.

To do it, simply click on the avatar and follow the site's procedures. It might take a few days for your account to be verified, but it gives people peace of mind to deposit and withdraw funds without the risk of having your account frozen. Additionally, when you verify your account, you'll be able to withdraw up to $25K daily (against only $2K for unverified accounts).

What I like the most about it are a couple of things:

Friendly Interface
Trustworthy pair of coins to trade (Poloniex might be the exchange with the most strict policy prior to listing a coin in its platform)
Traditional trading option (with stop/loss)
Margin Trading option (to understand what margin trading is, please refer to https://www.investopedia.com/university/margin/ .
Cryptocurrency Lending option

Here's how the rest of the platform looks like:

The margin trading section:

I personally don't do the margin trading, because it's a really risky option while trading. I prefer the traditional trading section.

Regarding the lending, the interesting thing here is that you can lend the best currencies for a daily interest rate in return. And, the best part is, that this lending is garanteed by Poloniex, because all the lending money goes to margin trading options, and the person who borrows from you must perform a collateral deposit to be able to cover all the lending expenses.

Lending Section:

Another great feature of Poloniex, is that both withdraws and deposits are performed really quick, and fees are pretty reasonable compared to other exchanges (see images below):

Also when talking about the lending option, the person has the option of using a bot to place loan orders (API setup of the bot only allows it to open orders, so it isn't allowed to perform deposits or withdraws from the platform. The site with al the instructions to setup this lending bot is https://www.poloniexlendingbot.com .

I've used a lot this bot in the begining and it really works. Its fee is 10% of the profit the customer gets from the lending option, and it is a pre-paid bot (the person must deposit some money in the bot platform, so it will be able to work. This bot analyzes the lending market and always opens orders with the highest interest rate and the most probability of that order to be taken by someone. It really worths researching for it.

Well, I guess those are the reasons why I like and use Poloniex platform. Please let me now your thoughts and, if you liked this post, please #upvote, #resteem it, and follow me, and I will do the same. Together we can grow #Steemit even stronger!!!