UPDATE 1 November 2021: Poloni DEX has been decided to be "decommissioned". The decision will take effect on 31 December 2021. The platform released the following message on its website today:
Hi! Thank you for your continued support for PoloniDEX. Due to the changes in our business strategy, we have decided to decommission PoloniDEX on December 31, 2021 at 06:00 (UTC). We advise you to dispose of your assets and cancel any open orders before this time.
- From 06:00 on December 1, 2021(UTC), the platform will enable the 'Cancel Open Order Only' mode, where you can only cancel your open orders but not place new ones.
- As of December 31, 2021 at 06:00 (UTC), PoloniDEX will cease services, and you won't be able to access services including but not limited to logging in, posting orders, and canceling orders.
Important notice: Assets involved in uncanceled open orders cannot be retrieved after PoloniDEX ceases services.
Accordingly, we have marked this exchange as dead in our database and moved it to our Exchange Graveyard.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
Poloni DEX Review
Poloni DEX is a decentralized exchange (DEX) that launched in 2018. The platform is available in English, Chinese, Japanese and Korean.
DEXs are becoming increasingly more popular, mostly due to the following factors:
- They do not require a third party to store your funds, instead, you are always directly in control of your coins and you transact directly with whoever wants to buy or sell your coins.
- They normally do not require you to give out personal info. This makes it possible to create an account and right away be able to start trading.
- Their servers spread out across the globe leading to a lower risk of server downtime.
- They are essentially immune to hacker attacks.
However, DEXs normally have an order book with lower liquidity than their centralized counterparts and if you lose your password, it is probably lost forever.
We have not been able to find any info that US-investors are prohibited from trading at this trading platform. However, if you are a US-investor, you should still always analyse whether your home state imposes any obstacles for your foreign crypto trading. Sometimes the exchange has opened its doors in spite of your own state prohibiting you from trading.
Poloni DEX Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself decide which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen crypto and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can see that it feels right to you. This is the trading view at Poloni DEX:
Poloni DEX Fees
Poloni DEX Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange normally charges you a trading fee. The trading fee is normally a percentage of the value of the trade order.
However, at this exchange, they don’t charge any trading fees at all. This is naturally extremely advantegous for the traders and a strong edge against most other cryptocurrency exchanges out there today.
Poloni DEX Withdrawal fees
According to information on the platform’s website, Poloni DEX doesn’t charge any withdrawal fees either.
All in all, the fees at Poloni DEX are incredibly competitive.
This exchange does not accept any other deposit method than cryptos, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at this exchange, you will have to purchase cryptos from another exchange first and then – as a second step – deposit them here. Don’t worry though, you can find a so called “entry-level exchange” simply by using our Exchange Finder tool.
Poloni DEX Security
The servers of DEXs spread out all across the globe. This is different from centralized exchanges that normally have their servers more concentrated. This spread-out of servers leads to a lower risk of server downtime and also means that DEXs are virtually immune to attacks. This is because if you take out one of the servers, it has little to no impact on the full network of servers. However, if you manage to get into a server at a centralized exchange, you can do a lot more harm.
Also, if you make a trade at a DEX, the exchange itself never touches your assets. Accordingly, even if a hacker would somehow be able to hack the exchange (in spite of the above), the hacker can not access your assets. If you make a trade at a centralized exchange, however, you normally hold assets at that exchange until you withdraw them to your private wallet. A centralized exchange can therefore be hacked and your funds held at such exchange can be stolen. This is not the case with respect to decentralized exchanges.