Poloniex is a popular cryptocurrency exchange for the retail trader. Many beginners have learned how to trade cryptocurrency on the exchange that “ takes the crypto out of crypto”. Since it launched in 2014, however, the exchange’s leading market share has slipped as over 200 exchanges have entered the market.

In 2018, Poloniex’s fortunes began to change when social payment company Circle bought it for $400 million. Circle is integrating its payment services and institutional trading with Poloniex’s retail trade platform.

Can this one stop crypto trading shop regain a marketing leading position? We have conducted an in-depth review of fees, features, and pros and cons to assess how the newly formed Circle-Poloniex compares to other crypto exchanges. Our conclusion is a fully integrated retail and institutional trading business will allow Poloniex to better compete with improved services, liquidity and pricing.

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What is Poloniex?

Poloniex is in the midst of major changes. The unregulated crypto-to-crypto exchange is adding trading features for large traders and plans to become the first regulated crypto exchange in the US.

With these changes, Poloniex seeks to regain its perch as a leading crypto exchange. In 2016, Poloniex was a top 10 exchange to buy cryptocurrency. Poloniex, now a division of social payment service Circle, offers over 100 crypto pairs to trade.

With the acquisition of Poloniex, Circle is creating a platform for OTC cryptocurrency trading and payments for hedge funds and big banks like JP Morgan and Goldman Sachs, a part owner of Poloniex. Circle has significantly enhanced the offerings of Poloniex.

Poloniex began promoting the availability of institutional accounts two months after being bought by Circle. Circle has an active OTC service for institutional traders with monthly volume in excess of $2 billion. Circle Research provides in-depth crypto market analysis and how-to tutorials.

The OTC, block trading and other trading resources being introduced by traditional retail crypto exchanges is a clear indication that the most active exchanges are seeing demand from hedge funds and investment banks. The exchange plans to follow the regulated model espoused by New York’s Gemini exchange but also will compete with the deregulated Kraken exchange on the West coast.

Poloniex is a top 100 crypto exchange, ranking 83rd with a market cap of $14 million on Coinmarketcap.com.

How does the Poloniex exchange work?

Poloniex provides cryptocurrency-to-cryptocurrency trading on over 100 pairs, margin trading and lending on a desktop and app. Verified users can apply to list tokens on the Poloniex exchange, which also provides access to large traders through co-listing on the Circle Invest and Circle Trade exchanges.

Poloniex is the only exchange to trade and redeem ICO ATOMS. ATOMS are the tokens of Cosmos, a network of interconnected blockchains aiming to solve current blockchain interoperability and scalability challenges. Poloniex will provide BTC and USDC markets in ATOMs.