[It is a sponsored article with Poloniex.]

When dipping your toes into cryptocurrency trading for the primary time, many crypto veterans advocate selecting the correct crypto exchange platform.

There are a variety of issues to contemplate, such because the variety of tradeable cryptocurrencies out there, the transactional fees, how safe it’s, and the way user-friendly the platform is.

The age of the crypto exchange platform performs an vital function too, as older platforms are perceived to be extra reliable in comparison with present platforms that had been launched not too way back.

With that being mentioned, eight-year-old crypto exchange Poloniex is now formally out there in Malaysia. Listed below are four options the platform has which may profit the native crypto trading neighborhood.

Disclaimer: This content material is for data functions solely, don’t take this text as monetary recommendation. Earlier than making any key monetary selections, please be sure that you carry out the mandatory due diligence.

1. An ever-growing variety of supported currencies

A platform that helps many trading choices supplies extra investing freedom to the customers as they’ll convert them to different up and coming currencies shortly.

Having a mixture of totally different cryptocurrencies in your portfolio isn’t a foul factor, as these currencies had been developed with various functionalities in thoughts. 

For instance, whereas Bitcoin (BTC) is especially used for transferring cash, the Ethereum blockchain makes use of Ether (ETH) to pay for gasoline fees, that are used to pay for any processes accomplished on the blockchain. These embrace minting non-fungible tokens (NFT), creating good contracts, and extra.

One other instance is the MATIC token used to entry Web3 purposes constructed on the Polygon community with a lot decrease fees and quicker than the traditional decentralised purposes (dApps).

So, should you personal BTC however want to mint NFTs or use the Polygon community, you possibly can shortly and simply commerce your BTC for ETH or MATIC to make use of these companies.

2. Low trading fees throughout its pricing tiers

One other factor to contemplate is trading fees, that are taken from every transaction you make on the cryptoexchange platform.

In 2021, the typical trading payment on 30+ crypto exchanges was round 0.18% of the overall transaction, which may be lowered when you’ve got a a lot larger transaction quantity.

Nonetheless, even with the most costly tier, Poloniex prices 0.155% of the overall transaction, and the payment may be lowered additional with a higher-value transaction or through the use of TRX, the token of the TRON ecosystem.

With decrease transaction fees, you may make extra frequent trades with out worrying concerning the affect of the fees.

3. The choice to forgo KYC necessities for brand new customers

To start out trading on some cryptoexchange platforms, they normally make use of the know-your-customer (KYC) coverage, which typically requires the customers to be verified by way of their Nationwide Registration Id Card (NRIC).

Some platforms like Poloniex at the moment are beginning to provide non-KYC accounts referred to as Degree 1 accounts that don’t require any type of identification apart from a registered electronic mail tackle and password. Doing so makes the funding onboarding course of much less intimidating and faster.

Malaysians can even begin their funding journey instantly, as an alternative of ready for his or her identities to be verified earlier than having the ability to commerce.

The account has entry to a number of companies reminiscent of Spot trading, Staking, Futures trading, and shopping for Bitcoin with playing cards, with some limitations.

Observe that these Degree 1 accounts additionally come with restricted performance although, reminiscent of solely permitting customers to withdraw solely as much as US$10,000 a day, or as much as US$50,000 a day should you allow 2 factor-authentication (2FA).

To improve your account to Degree 2, you should full all of the KYC checks. Your account can have the earlier restrictions lifted, and your most withdrawal per day will likely be elevated to US$1 million per day.

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Utilizing eight years of expertise to date, Poloniex has plans to enhance the crypto exchange platform additional. These enhancements embrace a brand new trading system to boost trading pace, value matching, improved API latency, and safety for a greater funding expertise.

They’ve additionally simply launched Poloniex World Tour which set footprints in Malaysia as their first station. This occasion goals to share extra newest information and tendencies within the blockchain business.

They need to run extra campaigns with enticing prizes to reward present and new customers sooner or later too.

Malaysians who’re new to trading or are already knee-deep in crypto investing can check out Poloniex, which may be downloaded by way of the Google Play Retailer or the Apple App Retailer.

• Be taught extra about Poloniex right here.
• Be taught extra about Poloniex’s trading payment schedule right here.