Comparison of Phemex vs Poloniex [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Phemex vs Poloniex comparison!

Your expert: Alejandro Borja

Phemex

Your expert: Xavier Tarrasó

Poloniex

Main points

Fees

0,10%

Earns

Customer service

3/5

≤0,25%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

4.0 – Competitive fees with additional benefits for token holders.

Level

0,10%

≤0,25%

Brief explanation

Phemex implements a transparent and competitive commission structure, which is one of its standout features. The platform offers zero-fee spot trading for premium members, a unique model that encourages active trading and enhances affordability. For non-premium users, the fees remain competitive with the industry average. The fees for futures trading are also attractively low, with maker and taker fees structured to incentivize liquidity provision on the platform. This setup allows traders to manage their costs effectively, which is especially beneficial in a market where margins can be tight.

Poloniex maintains a straightforward and competitive fee structure that benefits a wide range of traders. The exchange primarily operates on a maker-taker fee model, with fees varying depending on the user’s 30-day trading volume. Generally, maker fees start at 0.145% and can go as low as 0.00%, while taker fees start at 0.155% and decrease to 0.10% for high-volume traders. This tiered approach incentivizes frequent trading and offers cost-effective options for active users. Additionally, there are no fees for cryptocurrency deposits, although withdrawal fees vary by cryptocurrency and are adjusted based on network conditions to ensure transactions are processed swiftly.

Phemex

Robust Security Measures: Phemex employs comprehensive security protocols, including cold wallet storage, two-factor authentication, and advanced encryption technology to protect user assets and data.
High Trading Volume and Liquidity: With significant daily trading volumes, Phemex offers high liquidity, facilitating quick and efficient execution of trades without significant price slippage.
Transparent Withdrawal and Deposit Policies: Phemex provides clear and concise policies regarding withdrawals and deposits, ensuring users understand the terms of service and any associated fees clearly.
Strong Reputation and Positive Reviews: Since its launch, Phemex has built a strong reputation in the cryptocurrency community, supported by positive user reviews that praise its reliability, customer service, and platform stability.
Effective Customer Service: Phemex offers responsive and helpful customer support, ensuring that users' queries and issues are addressed promptly, which is crucial for maintaining trust and user satisfaction.

Poloniex

Security methods: Poloniex employs robust security protocols including cold storage for funds, two-factor authentication, and encryption, ensuring a secure trading environment for its users.
Reputation and Reviews: Over the years, Poloniex has built a solid reputation within the crypto community. It is well-regarded for its user-friendly interface and relatively low trading fees, with numerous positive reviews from users worldwide.
Reputation and Reviews: Over the years, Poloniex has built a solid reputation within the crypto community. It is well-regarded for its user-friendly interface and relatively low trading fees, with numerous positive reviews from users worldwide.
Customer service: Poloniex offers comprehensive customer support with a detailed FAQ section, a ticketing system, and a chatbot to help users resolve issues quickly and effectively. This ensures that users receive the assistance they need in a timely manner.
Transparency: Poloniex provides transparent trading practices and clear fee structures, making it easy for users to understand exactly what they are paying and why. This level of transparency builds trust among users and is a significant factor in choosing Poloniex as a trading platform.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

Phemex Financial Pte. Ltd.

Polo Digital Assets, Ltd.

Regulation

Not regulated

Year founded

2019

2014

Founder

Jack Tao

Tristan D’Agosta

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Phemex	FEATURES	Poloniex
Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.	Minimum Trade	Poloniex allows for relatively small minimum trade amounts, which is ideal for new traders looking to experiment with minimal investment.
Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.	Trading and Transaction Fees	Known for competitive, low trading fees, Poloniex is an excellent choice for cost-effective trading.
Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.	Number of Cryptocurrencies	Offers a broad range of cryptocurrencies, although not as extensive as some larger exchanges.
Extensive selection of trading pairs, allowing users to diversify their trading strategies.	Crypto-to-Crypto Trading Pairs	Provides a wide variety of trading pairs, allowing for versatile trading strategies but could expand to include more rare or emerging tokens.
The website provides essential information, although some users may find details on fees and terms could be clearer.	Website Transparency	While Poloniex provides essential information, there could be more detailed disclosures about security practices and fund storage.
Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.	Credit/Debit Card	Poloniex does not offer an exchange card for in-store purchases.
Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.	Storage Offering	Offers secure storage options, but lacks some advanced features like insured custodial services.
Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.	Staking and Rewards	Offers some staking options, but the rewards and variety are not as competitive as other leading exchanges.
Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.	Mobile App and Desktop	Both the mobile app and desktop platform are user-friendly and reliable, though some users may find them less feature-rich compared to those of top competitors.
Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.	Customer Service	Customer service is available, but response times and the quality of support have room for improvement.
Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.	Deposit and Withdraw	Deposits and withdrawals are handled efficiently, though primarily limited to cryptocurrencies which might limit accessibility for some users.

Key features

Analysis tools

Advanced charting tools, technical analysis

Mobile APP

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, Phemex Earn

Margin trading, staking, Poloniex Earn, Poloniex API

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

100+

User-friendliness

Phemex provides a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Poloniex provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Offers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for both retail and institutional traders interested in derivatives trading with competitive fees and advanced features.

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

USD, BTC, USDT

USD, USDT, BTC

Account

Trading

Phemex offers extensive trading options including spot, margin, and futures trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

Poloniex offers a wide range of cryptocurrencies and competitive fees. It provides advanced trading tools but has faced some security and regulatory challenges in the past.

Deposit and withdrawal

Phemex supports multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Poloniex provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Account opening process

Phemex offers a seamless and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually completed within a day.

Poloniex provides a seamless account opening process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes

Customer Service

Phemex offers extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Poloniex provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Security

Phemex provides extensive security measures, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Poloniex offers robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As one of the experts reviewing cryptocurrency exchanges on our website, I find Phemex to be a highly compelling choice for traders. The platform impresses with its robust security features and a wide array of trading options, catering to both newcomers and seasoned traders. Personally, I appreciate the platform’s user-friendly interface and the fact that it offers high liquidity, which is crucial for executing trades swiftly and efficiently. I would recommend Phemex to anyone looking to dive into the world of cryptocurrency trading, especially those who value security and a diverse range of trading instruments.

Xavier Tarrasó

As a seasoned expert on our website and an enthusiastic follower of cryptocurrency trends, I’ve consistently found Poloniex to be a solid choice for those venturing into the world of crypto trading. Its user-friendly interface and competitive trading fees make it especially appealing to newcomers and experienced traders alike. Whether you’re looking to dip your toes into crypto or expand your trading portfolio, Poloniex offers a reliable and efficient platform to meet your needs. I highly recommend giving it a try for a straightforward and cost-effective trading experience.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.