Comparison of Poloniex vs Wirex [ 2024 ]

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

Investing risks losing your money

Your expert: Xavier Tarrasó

Wirex

Wirex

  • Threenvest valuation: 3,8/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

≤0,25%

Earns

No

Customer service

4/5
1%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.
3.8 – Reasonable fees with additional benefits for cardholders.

Level

≤0,25%
1%

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.
Wirex’s fee structure is designed to encourage both the use of its native token and engagement with its broad range of services. The platform charges a clear, competitive trading fee of 1% for buying or selling cryptocurrencies, which is straightforward and easy to understand for all users. For crypto-to-fiat transactions, Wirex imposes a fee that includes a small percentage of the transaction amount plus a fixed nominal fee, which varies depending on the currency involved. This system allows users to manage their costs effectively by understanding the exact fees in advance, making financial planning simpler and more predictable. Wirex also incentivizes the use of its native WXT tokens by offering reduced fees, enhancing savings for regular users.

Poloniex

poloniex
Read poloniex review
  • 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

Read poloniex review

Wirex

Wirex
Read poloniex review
  • Security Methods: Wirex employs robust security measures including cold storage for funds, 2FA, and the latest encryption technology to protect user data and transactions.
  • Reputation and Reviews: Wirex has established a strong reputation in the cryptocurrency space, backed by positive reviews from users appreciating its ease of use, innovative features, and reliable customer service.
  • Regulation: As a principal member of Mastercard, Wirex adheres to strict regulatory standards, ensuring a secure and compliant environment for handling your digital and traditional currencies.
  • Customer Service: Wirex supports its users with a dedicated customer service team, providing help and guidance to ensure a smooth user experience across its platform.
  • Volume Managed and Liquidity: Wirex handles a significant volume of daily transactions, offering high liquidity which ensures that users can perform transactions efficiently and at competitive rates.
  • Pros
  • User-friendly interface
  • Crypto-backed Visa card
  • Multi-currency support
  • Cons
  • High foreign exchange fees
  • Limited customer support

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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.
Wirex Limited

Regulation

Not regulated
Regulated in the Reino Unido

Year founded

2014
2014

Founder

Tristan D’Agosta
Pavel Matveev and Dmitry Lazarichev

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Poloniex FEATURES Wirex
Poloniex allows for relatively small minimum trade amounts, which is ideal for new traders looking to experiment with minimal investment.
Minimum Trade
Wirex allows flexible trading amounts, making it accessible for users of all investment levels, though specific minimums depend on currency pairs.
Known for competitive, low trading fees, Poloniex is an excellent choice for cost-effective trading.
Trading and Transaction Fees
Wirex offers competitive trading fees, but its foreign exchange fees can be higher than average, which might affect those trading or using multiple currencies frequently.
Offers a broad range of cryptocurrencies, although not as extensive as some larger exchanges.
Number of Cryptocurrencies
Wirex supports a solid range of cryptocurrencies including major ones like Bitcoin, Ethereum, and Litecoin, making it suitable for most traders’ needs.
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
There is a good selection of trading pairs available, providing users with various trading strategy options.
While Poloniex provides essential information, there could be more detailed disclosures about security practices and fund storage.
Website Transparency
The Wirex website provides clear information about fees, services, and user guidelines, making it easy for users to find the information they need.
Poloniex does not offer an exchange card for in-store purchases.
Credit/Debit Card
Wirex offers a Visa card that integrates with cryptocurrency accounts, allowing users to spend their cryptocurrency at any Visa-compatible point of sale. The card functionality scores highly for its convenience and integration.
Offers secure storage options, but lacks some advanced features like insured custodial services.
Storage Offering
Wirex provides secure cryptocurrency wallets with cold storage options, ensuring safety for user funds, though it’s less customizable than dedicated crypto wallet services.
Offers some staking options, but the rewards and variety are not as competitive as other leading exchanges.
Staking and Rewards
Offers rewards such as Cryptoback™ rewards on card purchases, but the staking options are somewhat limited compared to dedicated staking platforms.
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
The Wirex app and desktop platform are user-friendly and provide a seamless experience for managing cryptocurrencies and fiat currencies.
Customer service is available, but response times and the quality of support have room for improvement.
Customer Service
Customer service is a known issue with reports of slow response times and unresolved issues, impacting the overall user experience.
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 generally smooth with support for multiple fiat currencies, but sometimes can experience delays which should be noted.

Key features

Analysis tools

Advanced charting tools, technical analysis
Basic price tracking

Mobile APP

No
No

Security

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

Additional features

Margin trading, staking, Poloniex Earn, Poloniex API
Crypto debit card, staking, Wirex rewards, fiat on/off ramps

Anonymity

Yes
No

Key points

Available cryptocurrencies

100+
10+

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.
Wirex features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

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 reasonable value for money with competitive fees and a user-friendly platform, though it may lack some advanced features.

Countries of operation

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

Best for

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.
Best for global traders looking for a reliable platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, USDT, BTC
USD, EUR, GBP, 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.
Wirex provides a secure platform with easy fiat integration and a good range of cryptocurrencies. It offers additional services like a debit card but has higher fees compared to some exchanges.

Deposit and withdrawal

Poloniex provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
Wirex supports multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, 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.
Wirex provides an easy and fast account registration 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
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.
Wirex provides comprehensive 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

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.
Wirex ensures security through 2FA, encryption, and cold storage. It is regulated by several financial authorities, making it a highly secure platform 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 a Wirex exchange expert, I’d like to share a little advice on why you might consider using Wirex for your crypto transactions. Wirex offers a uniquely integrated platform where you can manage both fiat and cryptocurrencies seamlessly. The ability to use a Visa card linked directly to your Wirex account allows you to spend your crypto holdings just as easily as fiat, virtually anywhere Visa is accepted. This feature alone makes Wirex an excellent choice for those who want to make cryptocurrencies a regular part of their financial toolkit. Plus, their user-friendly interface makes navigating through crypto transactions straightforward, even for beginners.

View all comparisons against Poloniex

View all comparisons against Wirex

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.

More comparatives Poloniex and Wirex