At 16th place in our cryptocurrency exchange rankings, we have crypto-only platform Poloniex, who in this exchange comparison measures up against Bitfinex, placed sixth. We will look at the fees, the features, and much more.
Compare Poloniex vs Bitfinex
|7 Day Volume|
- Maker fee: 0.125%
- Taker fee: 0.125%
- Users can pay fees in Tron (TRX) for 25% less
- 0% fees available for Poloniex Plus members and high-volume traders
- Free crypto deposits
- Mining fees applied to cryptocurrency withdrawals
- Full fee schedule here
- Maker fee: 0.1%
- Taker fee: 0.2%
- Holders of LEO coin can get up to 25% discounts on their trading fees
- No deposit fees for crypto
- Small charges for withdrawals
- Trading more than $7.5m in a 30-day period will result in 0% maker fees
Winner: Both cryptocurrency exchanges are cheap — tie.
Sign Up & KYC Experience
- Head to Poloniex’s website and click ‘Sign Up.’
- Type in your email address, password, and if you have one, a referral code.
- Accept the terms of service.
- Open your email and click the verification link from Poloniex.
- Log in again.
- Find the ‘Get Started’ button (see image above).
- Provide your name, date of birth, address, phone number, and region.
- Submit your ID for verification (passport preferred).
- Provide a selfie (hold a piece of paper with ‘Poloniex’ and today’s date to accelerate verification).
- Completion can take minutes or days.
Making A Bitfinex Account
- Go to the Bitfinex website and click ‘Open Account.’
- Provide a username, email address, and password.
- Open an email from Bitfinex and click the verification link inside.
- Enter your username and password in the new window.
- Provide your name, age, contact information, and address where indicated.
- Provide two forms of government ID, a selfie holding your ID, a bank statement scan, and a proof of residential address (like a bank statement).
- Wait up to three days for confirmation.
Winner: Poloniex is slightly faster and easier.
Ease Of Use & Feel Of Website/App
- No limits on crypto trading even without KYC checks
- Unlimited crypto deposits with or without KYC verification
- $10,000 monthly cash withdrawals permitted without KYC
- Offers their own decentralized exchange – PoloniDEX
- Margin trading and mining pools both available
- An easy and (we think) aesthetically-pleasing trading interface
- Customer support via social media, email tickets, or ‘trollbox’
- Great mobile experience
- Users who make a successful referral get 20% of their trading fees
- High liquidity and large trade volume
- Platform suitable for beginners, pros, and institutional traders
- A ‘Paper Trading Account’ offered for practice trading (essentially a demo account)
- Crypto trading permitted before KYC verification – 2 BTC per day limit
Winner: Poloniex wins for its low restriction levels.
- Crypto deposits permitted:
- No fiat deposits
Bitfinex’ Big Limits
- Fiat deposits are only permitted over:
- 10,000 USD, EUR, GBP
- 1,000,000 JPY
- Wire transfers over the above thresholds cost 0.1% + €0.60
- Crypto deposits are free and hundreds of projects are supported
Winner: Bitfinex offers better deposit options.
Instant Buy Options (Buying with Credit or Debit Card)
- 16 cryptocurrencies available for direct purchase (including Bitcoin)
- Their Simplex partnership permits credit card purchases
- Credit card fees are 3.5% or $10, whichever is greater
- Minimum purchase of $50
- Daily purchase limit: $20,000
- Monthly purchase limit $50,000
- Cryptocurrencies take around 30 minutes to arrive upon purchase
- Direct purchase of dozens of different cryptocurrencies (such as Bitcoin, Tether, Tezos, TRON, Litecoin, and many more)
- $25 minimum purchase
- Credit card charges are based on a private algorithm
Winner: It’s a tie.
- User-friendly design with intuitive features
- Clean white and cyan trading interface
- Great choice of charts and graphs
- API options for developers
- Margin trading permitted
- Beginner-friendly mobile app
- Excellent navigation on browser and devices
- 299 trading pairs
- 168 different cryptocurrencies
- Smooth trading for beginners, professionals, and institutions
- Low trading fees
- User-friendly designs
- Intuitive layouts
- 268 trading pairs
- 142 coins supported
- ‘Market Order’ button enables immediate trades at the current market price
- Instant purchases via credit card through browser and app
Winner: It’s a tie.
Reputation & Security
- Zero hacks
- It was used to siphon $4m in crypto stolen from Russian crypto exchange EXMO
- Great reputation among pro-privacy traders for low KYC restrictions
Bitfinex Bad Past
- Hacked for 120,000 Bitcoin (2nd biggest hacking ever)
- Survived the hack and has improved security since
- No US customers due to haunted past of hacks and allegations
Winner: Poloniex’s reputation is better.
Poloniex, Bitfinex – Who wins?
With a daily trading volume almost 10 times the size, higher security measures, and more coins for purchase than Poloniex, Bitfinex wins this cryptocurrency exchange comparison.