Poloniex crypto futures
In the field of digital coin trading, this is one of the most popular platforms that every trader has heard of. The official website of the Poloniex exchange has been operating since 2014. When it first appeared, the developers offered users great functionality for trading, a high level of account protection with two-factor authentication, as well as storing assets in cold wallets. At that time, this became a strong competitive advantage that helped the exchange to gain a foothold in the top positions in the ratings.
Poloniex derivatives trading platform offers registered traders various functions for earning not only on the exchange of coins, but also in other ways. The list of the main platform services includes:
- Spot trading.
- Futures contracts.
- Margin trading.
- DeFi trading assets.
The exchange was launched in 2014 by entrepreneur Tristan D’Agosta, known in the crypto community under the pseudonym Busoni. The platform was based in San Francisco in the USA.
In February 2018, the exchange was sold to Circle Internet Financial Ltd. In 2019, the marketplace was taken over by Polo Digital Assets Ltd.
If initially the owners of the trading platform focused mainly on the American market, then with an increase in trading volumes and an increase in popularity, users from other countries began to register on the site.
Poloniex cryptocurrency derivatives trading platform has always featured one of the simplest and most convenient interfaces. Two types of orders are available to users:
- Limit. An order to buy or sell coins at the current or best price. The trader initially indicates the cost and amount of coins suitable for him to complete the transaction. The order is placed in the order book and remains there until the coin rate reaches the specified values.
- Stop limit. An order with an additional condition. It is sent to the glass only at the moment when the market value of the coin decreases or rises to the value specified by the trader. Such an order helps to manage risks, eliminating losses on current positions. It is also used as an automatic tool for entering the market at a certain point (if you do not want to wait until you can manually create an order).
Trading on Poloniex
The owners of the exchange offer traders different ways to earn money. You can buy coins with your own money, apply leverage, invest in different projects, take out loans or issue loans to other site clients.
It is available in the "Trade" section of the main menu. The user enters a typical trading terminal, which is available on any other similar platform. Here you can instantly sell or buy coins using two types of orders - limit and stop. All transactions are paid from the trader's current account. If you don't have enough money, you can use leverage.
To increase trading volumes, the developers decided to connect leverage. Margin trading gives traders the opportunity to operate with more substantial amounts than they actually have. To access this feature, you must verify your account by obtaining the second level of verification.
The interface of this section of the site is almost identical to the terminal for spot trading. At the same time, there are restrictions on the available cryptocurrency pairs. In margin trading, their list is less than in the spot market. Links with BTC and USD are available.
Start trading with leverage - it will increase your profits!
Buying cryptocurrencies with fiat
There is a convenient exchanger on the exchange. With it, anyone can buy crypto assets by paying with a card, using Apple Pay, or by bank transfer. It is enough to select a currency (the list includes several dozen options) and enter the amount (the minimum and maximum limits are also indicated here). Below will be the commission that you will have to pay for the exchange operation.
The creators of the Poloniex cryptocurrency derivatives trading platform offered their users the opportunity to earn on changes in the value of underlying assets. A derivative is a financial contract that specifies the expected price of a coin. The subject of its conclusion is the underlying asset. In this case, sellers and buyers are not the owners of the coins, but only exchange the right to execute the contract. Derivatives are different.
In July 2020, the developers of the Poloniex cryptocurrency derivatives trading platform announced futures contracts with 100x leverage. The system is based on perpetual contracts. To access it, traders do not have to register new accounts or open additional accounts. A future is a contract that guarantees that the buyer will buy an asset at a certain time, in a specified amount, at a predetermined price.
Poloniex crypto futures trading is very popular.
A swap is a trading operation during which two conversion transactions are concluded. For example, it can be the purchase of an asset (securities, currencies) and its sale after a certain period of time on the same or changed conditions. Or, conversely, first selling and then buying. In simple terms, a swap is a kind of exchange of assets for a specified period.
As demand for non-custodial services and DeFi projects increased, JustSwap was launched on the exchange. This is the first decentralized protocol based on the TRON blockchain that allows you to instantly change TRC-20 coins without commission. Users can provide liquidity to the exchange, receiving a commission for this.
To use JustSwap through the Tronlink browser extension, you do not even need to connect a wallet. Tokens in an account must be authorized and signed before being exchanged or creating liquidity.
Developers offer smartphone owners to download official software to improve the convenience of trading cryptocurrencies on the stock exchange. There is a convenient mobile application. It can be downloaded from the official Apple or Google stores, download the apk file from the marketplace website, or simply scan the QR code. To do this, follow the link in the article to the exchange and download the application. In terms of the set of functions, the program is not inferior to the full-format web version, it is simply adapted to the small screens of smartphones. The application is free!
How to trade Poloniex derivatives in India?
It is very easy to start trading Poloniex derivatives in India. Try it, you will surely succeed!
How to register?
For starters, how to register to work on the exchange. Registration will take a couple of minutes. You should follow the link in the article, after which you will see the Poloniex registration form that you need to fill out.
How to open a Poloniex account (PC)
Step 1. Follow the link in the article to the exchange.
Step 2: You will see the registration page.
- Enter your email address.
- Set a login password.
- Confirm your password.
- If others have invited you, enter your referral code. If not, just skip this section.
- Click to confirm.
- Check "By registering, I certify that I am 18 years of age or older".
- Click "Register".
Step 3: Check your email and click "Verify my email". Follow the instructions in the letter from the exchange.
Congratulations, you have now completed opening your Poloniex account.
DO THIS AND START POLONIEX DERIVATIVES TRADING.
After completing the registration, you will be taken to your personal account. For account security, experts advise immediately activating two-factor authorization.
Account verification procedure
Unlike most sites on Poloniex, verification is not required. But when creating an account, customers who want to withdraw amounts greater than 10 thousand US dollars per day from the exchange will need to be verified. After successfully completing this procedure, the limit increases to 25 thousand dollars.
Verification on Poloniex includes the following steps:
- In the "my profile" tab of your personal account, you need to open the form and enter data in the proposed fields. In addition to personal information from the registration section, data on the full address of residence (zip code, region, city, exact address), passport data or id, phone number in international format are entered.
- After that, you need to place a scanned copy of the photo with the document in hand on the site. In addition, at the same time, you need to hold a sheet of paper with the name of the exchange and the current date in your hand.
- Then a checkbox is placed, and the application is confirmed by clicking the "Save Profile" button.
- Verification work is usually completed within 24 hours.
Creating your wallet and replenishing the balance
A short instruction on how to create a cryptocurrency wallet and how to use it. It is created automatically during registration and is located in the tab of the same name. It displays a list of all available currencies. To deposit funds opposite the appropriate cryptocurrency, the "Deposit" button is pressed.
The system will automatically create an address for the selected crypto, where you will need to transfer money.
When choosing your wallet, please note that an address opened for one coin cannot be transferred to another. For example, using a code generated for Dash, you should not send Litecoin, as the funds will simply be lost. After these steps, you can monitor the status of the translation in the "History" section.
Withdrawal of currency from the trading platform
Poloniex allows you to withdraw funds to the card. To do this, you need to have a Simplex Account and buy fiat money in the "Wallet" - "Sell for cash" section.
Basics of trading on Poloniex
Now briefly about how to trade on Poloniex. First you need to choose a trading pair that interests you. The page has a list of all coins and a search system that allows you to quickly find the desired crypt. Interestingly, the main cryptocurrency traded on the Poloniex exchange is not the usual Bitcoin (BTC), but Ethereum (ETH) and Ethereum Classic (ETC), the daily turnover of which amounts to hundreds of millions of dollars.
After selecting a pair, the screen will display a trading chart for this crypt, according to which you can study the dynamics of fluctuations in its rate, as well as a glass of offers and trading history.
Poloniex commissions and how profitable trading on the exchange is
Since the spring of 2016, the exchange began to charge standard commissions for transactions:
- creator's (maker's) commission;
- commission of the taker (taker).
The size of the commission depends on the client's trading volume on the exchange. Indicators are determined by monthly trading volumes. It is calculated in such a way that users with a large trading volume pay less money for the exchange service. The commission is recalculated every 24 hours. The client's trading performance for the past 30 days of activity is taken into account.
Poloniex also charges a withdrawal fee. The amount is fixed, as it is not expressed as a percentage. The amount of the commission depends on the type of withdrawn cryptocurrency. The exchange does not charge a commission for depositing funds, thus stimulating trading on the platform.
Start trading Poloniex crypto futures in India and you will succeed! Good luck to you!