Comparison of Poloniex vs Independent Reserve [ 2024 ]

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

Your expert: Alejandro Borja

poloniex

Poloniex

  • Threenvest valuation: 4,2/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: No
Go exchange

Your expert: Xavier Tarrasó

independent reserve

Independent Reserve

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Main points

Fees

≤0,25%

Earns

No

Customer service

4/5
≤0,50%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.
3.9 – Reasonable fees with strong local support in Australia and New Zealand.

Level

≤0,25%
≤0,50%

Brief explanation

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.
Independent Reserve operates with a tiered fee structure that incentivizes higher trading volumes with progressively lower fees. The standard trading fee starts at 0.50% and can decrease to as low as 0.02% depending on the user’s 30-day trading volume. For deposits, there are no fees for electronic fund transfers (EFT) over AUD 100, and SWIFT transfers are free for amounts over AUD 5,000. Withdrawals to Australian bank accounts are free, while international withdrawals incur a fee of AUD 20. Cryptocurrency withdrawal fees are competitive, with a fee of 0.0003 BTC for Bitcoin, which is significantly lower than the global industry average​​.

Poloniex

poloniex
Go exchange
  • 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.
  • Pros
  • Low trading fees
  • No KYC required
  • User-friendly interface
  • Cons
  • Limited advanced features
  • Restricted fiat trading

Independent Reserve

independent reserve
Go exchange
  • Year Founded: Independent Reserve was established in 2013, making it one of the longest-running cryptocurrency exchanges in Australia. Its longevity in the market is a testament to its reliability and stability​​.
  • Reputation and Reviews: With over a decade of operation, Independent Reserve has built a strong reputation among users for its reliability and customer service. It has consistently received positive reviews and high ratings for its security, user experience, and customer support​​.
  • Regulation and Compliance: The exchange is registered with AUSTRAC (Australian Transaction Reports and Analysis Centre) and complies with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. This regulatory adherence ensures a high level of trust and security for users​​.
  • Customer Service: Independent Reserve offers comprehensive customer support through various channels including email, support tickets, and a well-resourced help center. This ensures that users can get timely assistance for any issues they encounter​​.
  • Security Methods: Independent Reserve employs robust security measures including two-factor authentication (2FA), encryption of sensitive data, and cold storage for the majority of its cryptocurrency holdings. The exchange also conducts regular security audits and penetration testing to identify and mitigate potential vulnerabilities​​.
  • Pros
  • Strong adherence to regulatory standards.
  • High level of platform security.
  • User-friendly interface for beginners.
  • Cons
  • Limited selection of cryptocurrencies.
  • No margin trading available.

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Product selection

Native token

No
No

Earns

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Polo Digital Assets, Ltd.
Independent Reserve Pty. Ltd.

Regulation

Not regulated
Regulated in Australia

Year founded

2014
2013

Founder

Tristan D’Agosta
Adam Tepper

Payment methods

Transfers

No
Yes

Mastercard

Yes
No

Wire transfer

No
Yes

Card

Yes
No

Comparative table

Poloniex FEATURES Independent Reserve
Poloniex allows for relatively small minimum trade amounts, which is ideal for new traders looking to experiment with minimal investment.
Minimum Trade
Minimum trade amounts at Independent Reserve are relatively low, making it accessible for new investors.
Known for competitive, low trading fees, Poloniex is an excellent choice for cost-effective trading.
Trading and Transaction Fees
Fees are moderate compared to other exchanges, but some users might find them slightly higher for smaller trades.
Offers a broad range of cryptocurrencies, although not as extensive as some larger exchanges.
Number of Cryptocurrencies
Independent Reserve supports a decent range of popular cryptocurrencies, providing enough options for most investors.
Provides a wide variety of trading pairs, allowing for versatile trading strategies but could expand to include more rare or emerging tokens.
Crypto-to-Crypto Trading Pairs
The exchange offers a fair selection of crypto-to-crypto pairs, though not as extensive as some larger platforms.
While Poloniex provides essential information, there could be more detailed disclosures about security practices and fund storage.
Website Transparency
The website is user-friendly and transparent about fees, regulations, and available services.
Poloniex does not offer an exchange card for in-store purchases.
Credit/Debit Card
Independent Reserve does not offer a card for in-store purchases.
Offers secure storage options, but lacks some advanced features like insured custodial services.
Storage Offering
Offers secure storage options, including insurance for stored assets, enhancing user confidence in the platform’s safety.
Offers some staking options, but the rewards and variety are not as competitive as other leading exchanges.
Staking and Rewards
Independent Reserve does not have extensive staking or rewards programs compared to some other exchanges.
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.
Mobile App and Desktop
Both mobile and desktop platforms are well-designed, ensuring a seamless trading experience across devices.
Customer service is available, but response times and the quality of support have room for improvement.
Customer Service
Customer service is responsive, though there is room for improvement in speed and availability during peak times.
Deposits and withdrawals are handled efficiently, though primarily limited to cryptocurrencies which might limit accessibility for some users.
Deposit and Withdraw
Deposits and withdrawals are processed efficiently, with multiple options available, although some methods might incur fees.

Key features

Analysis tools

Advanced charting tools, technical analysis
Basic charting tools

Mobile APP

No
No

Security

High 4,9/5
High 4,6/5

Additional features

Margin trading, staking, Poloniex Earn, Poloniex API
OTC trading, SMSF services, staking, insurance options

Anonymity

Yes
No

Key points

Available cryptocurrencies

100+
20+

User-friendliness

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.
Independent Reserve offers 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.

Value for money

Offers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.
Delivers good value for money with competitive fees and strong security features, suitable for Australian and New Zealand users.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany
Australia, New Zealand, Singapore

Best for

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.
Best for Australian and New Zealand investors looking for a reliable platform with competitive fees and strong security.

Base currencies available

USD, USDT, BTC
AUD, NZD, USD, BTC

Account

Trading

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.
Independent Reserve is a popular exchange in Australia and New Zealand, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.

Deposit and withdrawal

Poloniex provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
Independent Reserve is popular in Australia and New Zealand, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

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.
Independent Reserve provides an easy and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

KYC required?

Yes
Yes

Customer Service

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.
Independent Reserve provides extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, making it reliable for users globally.

Security

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.
Independent Reserve employs comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by Australian authorities, ensuring high security for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

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.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert in cryptocurrency exchanges, I can confidently recommend Independent Reserve for several reasons. This platform excels in security and regulatory compliance, ensuring that your investments are protected. It supports multiple fiat currencies, making it accessible for users in Australia, New Zealand, and Singapore. While its selection of cryptocurrencies is somewhat limited, it offers a user-friendly interface and excellent customer support, making it ideal for beginners. For those prioritizing safety and reliability in their crypto trading experience, Independent Reserve is a solid choice.

Read poloniex review

View all comparisons against Poloniex

Read Independent Reserve review

View all comparisons against Independent Reserve

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.

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