Cryptocurrency exchanges have become super competitive by the day. From updating their trading strategies to making the user experience a seamless one, exchange platforms are doing everything possible to outdo one another.
Poloniex is one such platform that has stood the test of time since its inception in 2014. What started as a small crypto platform with few crypto-assets now hosts over 350 cryptocurrencies. The exchange caters to the crypto trading needs of hundreds of countries worldwide.
What makes it one of the best among the rest is its low trading fees, simple deposit and withdrawal steps, and low stringent security measures. Users love how low the withdrawal fees are at Poloniex areas compared to other big trading platforms.
Since the platform is designed with active traders in mind, many traders benefit from the low withdrawal and deposit fees. They get to become part of the large crypto trading community worldwide by spending minimal fees on this trading platform.
You may find it easy to trade in crypto exchange platforms, but when it comes to withdrawals, it can be a challenging task to withdraw money to the account you want. But that won’t be an issue if you use Poloniex.
If you want to know more about the Poloniex withdrawal fees, Poloniex withdrawal limit, or anything related to it, then you have reached the right place!
How To Withdraw Money From Poloniex
There are two ways through which users can withdraw money from Poloniex- through desktop and through the mobile app. Both the methods are easy to follow and will take only a few minutes for the withdrawal process to complete.
On the desktop
- Login to your account on Poloniex and click on the “Wallet” icon located on the top right navigation menu bar.
- You will see your account balance page. Now click on the “withdraw” option located on the top right side of the page.
- Select the asset you wish to withdraw by typing the name on the search box located on the right.
- Once you’ve selected your cryptocurrency, enter the amount you wish to withdraw. For example, if you choose TRX and Tronlink wallet, then login to Tronlink and select “Receive.”
- You will now see your withdrawal address. Copy and paste the address on the “address” option box and input the amount you want to withdraw. Now, click “continue.”
- For enhanced security measures, Poloniex will ask you for your six-digit authentication code, which has been sent to your registered mobile number. Enter the six-digit code to confirm your withdrawal. You will also receive an E-mail to your registered E-mail address to confirm.
- Check your E-mail and confirm the withdrawal by clicking on the link sent to you.
- Next, you will be redirected to a page that will show all details such as the date and the amount of request, the fees incurred, destination address, and more. Click on “Yes, send funds,” and your withdrawal is confirmed.
You can track your transaction process through the deposit & withdrawal history page.
On the mobile
Follow the steps below to withdraw using the Poloniex mobile app.
- Open the Poloniex app on your phone and click on the “wallet” icon located at the bottom of the app.
- Choose the coin you’d like to withdraw by searching for it.
- Choose the network you wish to make the withdrawal from and enter the amount. Make sure that you scan the correct destination address and go through any additional security measures to complete the withdrawal process.
- Enter the password and then confirm the withdrawal.
What Are The Poloniex Withdrawal Fees?
Poloniex charges a fixed withdrawal fee for every asset you withdraw from the wallet. The fee is dependent on a number of factors, such as network congestion and more. The fee is charged to cover the cost of broadcasting a transaction on the network. What are the Poloniex withdrawal limits?
The withdrawal limit for a Level 1 account without 2FA is $10,000 per day, which increases to $50,000 per day with 2FA enabled. For a Level 2 account, the maximum limit per day is $500,000 without 2FA and $1,000,000 per day with 2FA. For more information on the fees charged on the platform, give our Poloniex fees guide a read.
Where To Send The Funds?
When deciding where to send your crypto funds, it is important that you check which exchange or wallet supports your crypto asset. You can choose to look up the asset on websites such as CoinGecko or CoinMarketCap to fund a wallet to send your crypto funds to.
Also, every wallet or exchange incurs different types of Poloniex withdrawal fees. Some of the currencies, such as BTC, may have additional memos, fields, and minimum deposit requirements to make the withdrawal. Therefore, ensure that you are through with all this information before making a withdrawal.
How To Check Poloniex Withdrawal History
To check your withdrawal history, go to the “Deposit & withdrawal history” in your account and check. You can even go to the exchange or wallet network and then check the history under the “Receive” section.
Poloniex Withdrawal FAQs
Poloniex is not available for US users at the moment, and withdrawal in USD is only available for US customers.
Go to your Binance account and copy the deposit address of the crypto you wish to deposit from Poloniex. Then go to Poleniex account > choose the same crypto and click “withdraw”> paste the deposit address from Binance to the “destination” section in Poloniex> enter the amount and confirm the withdrawal through E-mail.
Go to “wallet” > choose the currency you wish to withdraw > enter the destination address or payment ID and the amount> click “confirm.”
Poloniex is one of the largest crypto trading platforms in the world, with a reputation for hosting the largest Ethereum trading by volume worldwide back in 2017. At Poloniex, users get access to a number of advanced trading products that makes the whole user experience worthwhile. The platform has one of the lowest trading fees in the industry, making it a great option for beginners.