How to Trade and Withdraw from Poloniex

A stop-limit order is an order to place a regular buy or sell order (also known as a "limit order") when the highest bid or lowest ask reaches a specified price, known as the "stop." This can be helpful for protecting gains or minimizing losses.

Usually a stop-limit order will be executed at a specified price, or better (i.e. higher or lower than the specified price, depending on whether limit order relates to a bid or ask, respectively), after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy or sell at the limit price or better.
 

Limit Orders Explained

You should use limit orders when you are not in a rush to buy or sell. Unlike market orders, the limit orders are not executed instantly, so you need to wait until your ask/bid price is reached. Limit orders allow you to get better selling and buying prices and they are usually placed on major support and resistance levels. You may also split your buy/sell order into many smaller limit orders, so you get a cost average effect.
 

When Should I Use a Market Order?

Market orders are handy in situations where getting your order filled is more important than getting a certain price. This means that you should only use market orders if you are willing to pay higher prices and fees caused by the slippage. In other words, market orders should only be used if you are in a rush.

Sometimes you need to buy/sell as soon as possible. So if you need to get into a trade right away or get yourself out of trouble, thats when market orders come in handy.

However, if youre just coming into crypto for the first time and you are using Bitcoin to buy some altcoins, avoid using market orders because you will be paying way more than you should. In this case, you should use limit orders.

How to Withdraw from Poloniex

Transfer Crypto from Poloniex to other platforms [PC]

1. Visit Poloniex.com, choose [Log in]

2. Click [Wallet]


3. Click [Withdraw] at the top right corner of the screen

• Select Asset to Withdraw. Take USDT as an example.

• Choose the asset you wish to withdraw in the list below

1. Choose the network

2. Enter the destination address you want to send your asset to other platform

3. Enter the amount you wish to send.

4. If youd like to withdraw all your funds, you can click [Max Amount] to do this easily.

5. Check the transaction fee

6. Check total amount you will withdraw

7. Click [Continue], and review your withdrawal before confirming via the Withdraw [Asset] button. 

Note:
It takes several minutes for a transaction to be complete as several confirmations are required. Depending on network congestion, it usually does not take more than 4 hours to complete. Finally, a user confirmation is needed to complete the step. Customers with two-factor authentication enabled for their withdrawals do not receive email confirmations.

Transfer Crypto from Poloniex to other platforms [APP]

1. Open Poloniex App on your phone and Sign in to your Poloniex Account. Then Click [Wallet]

2. Click the icon 2 arrows

3. Click [Withdraw]


4. Choose the asset you wish to withdraw in the list. Take USDT as an example:


5. Take USDT as an example:

1. Enter the amount you wish to send.

2. Choose the network

3. Enter the destination address you want to send your asset to other platform

4. Check the transaction fee, total amount you will withdraw

5. Click [Continue], and review your withdrawal before confirming via the Withdraw [Asset] button. 

Note:
It takes several minutes for a transaction to be complete as several confirmations are required. Depending on network congestion, it usually does not take more than 4 hours to complete. Finally, a user confirmation is needed to complete the step. Customers with two-factor authentication enabled for their withdrawals do not receive email confirmations.

Frequently Asked Questions (FAQ) about Withdrawal:

Can I withdraw my coins and cash out to my card  through Simplex?

No, you can only use Simplex to buy crypto and have it deposited to your Poloniex account. Withdrawals are not supported at this time.
 

What if I withdraw my USDT-ERC20 to my USDT-TRON address(and vice versa)?

Our system is able to identify the different types of address and will prevent one type of coin being deposited into the wrong type of address.
 

How long does it take my withdrawal to arrive? 

It takes several minutes for a transaction to be complete as several confirmations are required. Depending on network congestion, it usually does not take more than 4 hours to complete. Finally, a user confirmation is needed to complete the step. Customers with two-factor authentication enabled for their withdrawals do not receive email confirmations.