Search ForexCrunch
  • Users can easily register with an email address and password.  
  • Poloniex will also allow its level 1 account users to participate in other services, such as staking.

Cryptocurrency exchange Poloniex has recently announced its new “level 1” account tier. Using this, new users can withdraw up to $10,000 per day without requiring KYC (know-your-customer) verification. Users can easily register with an email address and password. The account also allows “unlimited” deposits and spot trading.

The initiative taken by Poloniex was based on customer feedback. Similarly, Binance and OKEx also allow withdrawals with no KYC. However, due to China’s crackdown on the crypto sector, OKEx banned unverified users from withdrawing funds.  

Poloniex will also allow its level 1 account users to participate in other services, such as staking. The exchange will also begin unfreezing and upgrading existing unverified accounts to level 1. Back in October, Poloniex split from its parent company Circle. Since then, Poloniex has not been serving US customers. After the spinout, Poloniex hit above 2% market share on certain days for the first time in several months.