Poloniex is one of the 25 leading cryptocurrency exchanges by trading volume thanks to a daily trading volume of approximately 70 million US Dollars. It offers users over 100 Bitcoin cryptocurrency pairings. The US-based company Poloniex was founded in 2014. As of 2018, it is owned by Circle Internet Financial Ltd, a peer-to-peer payments technology company. It lets its users exclusively trade crypto-to-crypto on the exchange, meaning it it not possible to make fiat currencies deposits. There is however no deposit limit for cryptocurrencies. Poloniex features advanced strategies and functionalities for experienced traders, such as margin trading and coin lending to shorters.
As with Kraken, transaction fees rely on the factors “30-day trading volume” and “maker-taker” fee schedule. All additional information on fees can be found on the provided link.

Poloniex

Traders need to set a stop price for a Stop-Market order, and when the stop price is reached, the order will become a market order that will execute at the best available price in the order book.

With this, traders can set the trigger price that executes a market order in advance. This is helpful for planning out trading strategies, and allows traders to take advantage of market conditions when they are unable to be at their computer.

### What is a “stop” in trading?

Firstly, let’s go over what a stop is. A trader sets a stop (or stop-loss) when they want to limit loss on a trade, and is usually used by a seller, although a buyer may want to utilize the function to make sure they don’t buy at too high a price or want to be able to react to a market trend when they are unable to be at their computer to conduct a market order.

### Difference between market order and stop-market order

_For a fuller explanation of what a market order is and how to make one, check out “_ [_How to make a market order_](https://medium.com/poloniex/how-to-make-a-market-order-on-poloniex-7a8f6f4741ea) _”._

A market order, arguably the simplest trading tool in your arsenal, executes immediately. A market order lets a trader buy or sell an asset at the best price currently available. However, this means you have less control over the exact price at which you buy a token.

A stop-market order, on the other hand, triggers when the stop price is reached. Once the stop price is reached, the order triggers like a market order, which means the price at which you buy or sell is a bit unknown, as the system looks for a matching order in the order book. As mentioned above, the stop-market order is useful when a trader wants to act on a price prediction to either limit a loss or ensure a profit.

### Stop-limit vs stop-market

A stop-limit, unlike a stop-market order lets you select a trigger price AND a limit price, giving you more control over the price you buy or sell at. Of course, with a stop-limit order, there is a reduced likelihood of your order being filled.

### Pros vs cons

A stop-market order is useful when planning out a strategy and for executing the trade automatically at the stop price, when the trader is unavailable. And even if a token’s price rises above the trigger price when buying, or dips below when selling, your order will be filled.

One of the most important things to consider about a stop-market order, is that when the stop price is reached, it becomes a market order. As mentioned before, this means the price you buy or sell at once this happens is a bit unknown. Meaning that, for example, if you set a stop-market to sell at a certain price, the stop will trigger the market order, but if the price goes down further than the trigger price, your order will be filled at that lower price.

First things first, before trading on Poloniex, make sure your account has enough funds to complete the trade that you want. Poloniex offers a large number of coin wallets into which you can make a deposit. Please remember that only crypto-to-crypto coin trades are supported and some of these coins have a minimum deposit amount. Furthermore, trades must satisfy a minimum amount depending on the trading pair.

1. From the [Poloniex homepage](https://poloniex.com/), click on “Trade” on the menu bar.

![Poloniex homepage with “Trade” in the menu bar circled.](https://static.cryptohopper.com/images/news/uploads/1660032783-how-to-conduct-a-stop-market-order-1.jpg)

2\. From there, you will be taken to the spot market page, where you will be able to select “Stop-market” from the order options on the left side of the page.

![Trading screen with stop-market order selected.](https://static.cryptohopper.com/images/news/uploads/1660032783-how-to-conduct-a-stop-market-order-2.jpg)

Here, like with a market order, the price field will be filled with text that says “Most optimal price”, due to the fact that once the trigger price is reached, the order becomes a market order executing at the best price available.

3\. Next you need to set a stop price at which the order will become a market order. Then enter the amount you wish to buy or sell.

4\. All you need to do now is confirm your stop-market order!

![BTC/USDT order confirmation popup.](https://static.cryptohopper.com/images/news/uploads/1660032784-how-to-conduct-a-stop-market-order-3.jpg)![Trading screen with successful order confirmation popup.](https://static.cryptohopper.com/images/news/uploads/1660032784-how-to-conduct-a-stop-market-order-4.jpg)After placing the order, you should get a success message like the one in the top-right of the screen here.

You can find a record of your open order just by scrolling down to your order book and selecting “Conditional order”.

![Order history at bottom of trading screen.](https://static.cryptohopper.com/images/news/uploads/1660032784-how-to-conduct-a-stop-market-order-5.jpg)

All done! You now know how to take advantage of the new stop-market order function in our New Trading System, and will be able to set out more complex trading strategies.

 [![Footer sign-up banner with link.](https://static.cryptohopper.com/images/news/uploads/1660032784-how-to-conduct-a-stop-market-order-6.jpg)](https://poloniex.com/signup/)![](https://medium.com/_/stat?event=post.clientViewed&referrerSource=full_rss&postId=7c6892bed86)

* * *

was originally published in [The Poloniex blog](https://medium.com/poloniex) on Medium, where people are continuing the conversation by highlighting and responding to this story.

https://cdn.cryptohopper.com/images/news/uploads/1660032783-how-to-conduct-a-stop-market-order.jpg

(on Poloniex)What is a stop-market order?

A stop-market order, simply put, lets a trader set a price at which they want a trading system to execute a market order.

How to conduct a stop-market order

Before we get into it, we wanted to take a moment to focus on the huge achievement that is our New Trading System.

This was a huge undertaking by our entire company, and we are so proud to be able to share it with you. We poured a lot of love and hard work into this upgrade as we aim to provide our customers with a strong and able bridge to the world of cryptocurrencies.

As an exchange that has been around for awhile, we have an identity of being true believers in crypto and are proud of that identity. We see this [New Trading System](https://medium.com/poloniex/what-you-need-to-know-about-poloniexs-new-trading-system-bf1448d39fd0) as an affirmation of that pride, and as a thanks to our users for choosing Poloniex as an exchange they can count on. There’s still more in store for 2022, and we look forward to sharing that with you as we grow and build together🚀

### So what happened this week?

![](https://static.cryptohopper.com/images/news/uploads/1659946738-the-morning-cup-btc-unaffected-amid-bank-of-england-s-rate-hike-poloniex-lists-potential-1.jpg)

**BTC unaffected in Bank of England’s biggest interest rate even bear flag still present**

Bitcoin (BTC) last week appeared unaffected by the Bank of England’s biggest rate hike of 27 years. Ether (ETH) was trading down 3% at mid-week, last week, while other altcoins were all mostly in the red. Economists now look closer at Pakistan and Bangladesh as they struggle to repay debts, waiting to see whether the countries will follow in the footsteps of Sri Lanka in what could be a domino effect resembling the Asian Financial Crisis back in 1997. Meanwhile, BTC is trading at $23,228 while ETH is at $1,703 by press time.

[CNBC](https://www.cnbc.com/2022/08/03/hackers-attack-solana-crypto-stealing-millions.html), [FT](https://www.ft.com/content/65e5829f-8107-48a8-a5d0-f7a8c8f79df3), [Decrypt](https://decrypt.co/106649/solana-wallet-hack-what-we-know-so-far), [Watcher News](https://watcher.guru/news/nomad-retrieves-9-million-in-ethereum-tether-and-usd-coin-from-hackers)

![](https://static.cryptohopper.com/images/news/uploads/1659946739-the-morning-cup-btc-unaffected-amid-bank-of-england-s-rate-hike-poloniex-lists-potential-2.jpg)

**Poloniex lists ETH potential hard fork tokens in support of the Merge**

Poloniex has listed two potential forked ETH tokens: ETHW & ETHS, which represent the network’s Proof-of-Work and Proof-of-Stake consensus mechanisms, respectively. Starting on August 8, the exchange is allowing users to trade USDT, USDD and ETH for ETHW or ETHS, and vice-versa (ETH trades at a one-to-one ratio with ETHS and ETHW) to give “full support” to the Ethereum Merge. This, according to its [latest announcement](https://support.poloniex.com/hc/en-us/articles/7911509585559). As the world’s first crypto exchange to list ETH, Poloniex has stressed that it will once again lead the way and support Ethereum’s hard fork, becoming the first exchange to list the two potential ETH tokens to support the Merge. For more details, please visit: [Poloniex Support](https://support.poloniex.com/hc/en-us).

[Decrypt](https://decrypt.co/106753/justin-sun-poloniex-support-ethereum-proof-of-work-fork-ethw)

![](https://static.cryptohopper.com/images/news/uploads/1659946742-the-morning-cup-btc-unaffected-amid-bank-of-england-s-rate-hike-poloniex-lists-potential-3.jpg)

**Gucci, Tiffany go further into crypto space despite ‘winter’**

Two luxury brands and one soccer team are diving deeper into the crypto space even in the face of the current crypto winter. Tiffany & Co, the U.S. jewelry retailer, unveiled its plans for selling 250 NFTs for about 30 ETH each, around $50,000, to CryptoPunks holders, who will receive a custom pendant according to their NFTs. Meanwhile, Gucci expanded its crypto payment options to include ApeCoin (APE), the Bored Ape Yacht Club’s native token. As of now, 70% of Gucci’s retail stores accept over 10 different cryptocurrencies as payment across the United State, according to Hypebeast. Spanish football club FC Barcelona received a [€100 million euro](https://www.coindesk.com/business/2022/08/01/socios-owner-invests-100m-in-fc-barcelonas-web3-efforts/) investment from fan engagement app [socios.com](https://www.socios.com/) to foster its Web3-related plans on top of the club’s fan token, called BAR.

body\[data-twttr-rendered="true"\] {background-color: transparent;}.twitter-tweet {margin: auto !important;}

> — [@TiffanyAndCo](https://twitter.com/TiffanyAndCo/status/1555554251916689408)

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[The Verge](https://www.theverge.com/2022/8/1/23287775/tiffany-custom-cryptopunk-pendants-nfts-nftiff), [Bitcoin.com](https://news.bitcoin.com/socios-com-will-invest-100-million-in-fc-barcelona-metaverse-push/), [Decrypt](https://decrypt.co/106333/tiffanys-reveals-first-nfts-at-51000-each)

![](https://static.cryptohopper.com/images/news/uploads/1659946745-the-morning-cup-btc-unaffected-amid-bank-of-england-s-rate-hike-poloniex-lists-potential-4.jpg)

**Millions in SOL and USDC ‘drained’ from ~8,000 Solana wallets**

An estimated >$5.2 million worth of tokens including Solana’s SOL as well as USDC have been drained from almost 8,000 digital wallets operating within the Solana ecosystem, since last Tuesday. Phantom, Slope and Trust Wallet were among the affected wallet providers. Solana, the public blockchain platform on which the hack took place, confirmed the attack, but stressed that it “appears affected addresses were at one point created, imported, or used in Slope mobile wallet applications,” according to its official Twitter account, the Solana Status. Soon after the attack, Solana restated on Twitter that “there is no evidence the Solana protocol or its cryptography was compromised.” SOL, Solana’s native token, fell about 8% in the first two hours after the hack was initially detected, according to CoinMarketCap. The incident comes one day after Nomad, the interoperability protocol, was hacked for almost $190 million.

[CoinDesk](https://www.coindesk.com/markets/2022/08/04/first-mover-americas-bitcoin-unbothered-by-bank-of-englands-super-size-interest-rate-hike/), OSL

### New Listings on Poloniex

_Here’s what we’ve listed recently:_

### New Coins

[**Bitkub Coin (KUB)**](https://support.poloniex.com/hc/en-us/articles/6567051909911-New-Listing-Bitkub-Coin-KUB-)

[**NFT (SHIT)**](https://poloniex.com/exchange/USDT_SHIT)

[**USDH**](https://poloniex.com/exchange/USDT_USDH)

[**HBB**](https://poloniex.com/exchange/USDT_HBB)

### Futures

[**Ethereum Classic (ETC)**](https://poloniex.com/futures/trade/index/ETCUSDTPERP)

[**Cosmos Hub (ATOM), Hedera (HBAR), Stellar (XLM)**](https://support.poloniex.com/hc/en-us/articles/7078977392535-Cosmos-Hub-ATOM-Hedera-HBAR-Stellar-XLM-Perpetual-Futures-are-Now-Open-for-Trading)

[**Algorand Perpetual (ALGO-PERP)**](https://poloniex.com/futures/trade/index/ALGOUSDTPERP)

[**Elrond Perpetual (EGLD-PERP)**](https://poloniex.com/futures/trade/index/EGLDUSDTPERP)

### Polopedia

Our handy articles from this week cover how to make a market order and how to navigate spot trading. Check it out if you’re new to crypto, or need a refresher on what a market order is and why you might want to use it!

- [Spot trading on Poloniex](https://medium.com/poloniex/spot-trading-on-poloniex-cbc9c26d8cbe)
- [How to make a market order (on Poloniex)](https://medium.com/poloniex/how-to-make-a-market-order-on-poloniex-7a8f6f4741ea)

With Ethereum’s Merge event coming up, get up to snuff with these explainer articles💪

- [What is Ethereum’s Beacon Chain?](https://medium.com/poloniex/what-is-ethereums-beacon-chain-fcac348210d7)
- [What is Ethereum?](https://medium.com/poloniex/what-is-ethereum-48851f50bf3f)

We are also happy to announce a new addition to Polopedia’s education offering, the **Crypto Glossary**!!

Understand crypto terms before you invest with helpful definitions that are easy to digest. This month, we’re focusing on our new trading system to demystify the underlying technology behind the revamp.

![](https://static.cryptohopper.com/images/news/uploads/1659946746-the-morning-cup-btc-unaffected-amid-bank-of-england-s-rate-hike-poloniex-lists-potential-5.jpg)

**TPS**

- Stands for Transactions per second (TPS)
- Refers to how many transactions the network can process in a second
- For example: Poloniex has increased its system’s order matching speed by 30x, and **transactions per second (TPS)** by at least 10x.

### What’s happening here at Poloniex?

_This is what Poloniex’s week looked like_

![](https://static.cryptohopper.com/images/news/uploads/1659946746-the-morning-cup-btc-unaffected-amid-bank-of-england-s-rate-hike-poloniex-lists-potential-6.jpg)

### Major Updates

Our New Trading System is LIVE and running!!!

[Crypto Exchange Poloniex Unveils New Trading System to Lower Latency and Improve Throughput](https://www.nasdaq.com/articles/crypto-exchange-poloniex-unveils-new-trading-system-to-lower-latency-and-improve)

Ethereum’s Merge is nearly upon us, and Poloniex is committed to supporting it by listing the two potential forked ETH tokens- ETHW and ETHS:

[Justin Sun's Poloniex Will Support Ethereum Proof-of-Work Fork - Decrypt](https://decrypt.co/106753/justin-sun-poloniex-support-ethereum-proof-of-work-fork-ethw)

It is with pride that we announce our partnership with Octaloop for their India Blockchain Tour and Metamorphosis 2022! These events will bring together Web3/crypto enthusiasts and professionals as they hit 8 different cities across India.

[Poloniex Partners with Octaloop for India Blockchain Tour \| NewsBTC](https://www.newsbtc.com/press-releases/poloniex-partners-with-octaloop-for-india-blockchain-tour/)

### Campaigns

_Our recap of past campaigns and ongoing campaigns that YOU can get involved in!_

![](https://static.cryptohopper.com/images/news/uploads/1659946747-the-morning-cup-btc-unaffected-amid-bank-of-england-s-rate-hike-poloniex-lists-potential-7.jpg)

Phase III of our Poloniex Referral Carnival is happening right now! Invite your friends for the chance to win a share of 5,000 USDT! Phase III runs from August 1st — August 14th. Check our help center for more info:

[Poloniex Referral Carnival (Phase III): Invite Friends to Share 5,000 USDT](https://support.poloniex.com/hc/en-us/articles/7851495084695-Poloniex-Referral-Carnival-Phase-III-Invite-Friends-to-Share-5-000-USDT)

And don’t forget to take part in our HODLer survey for a chance to win a share of 500USDD! Submissions close August 11th.

body\[data-twttr-rendered="true"\] {background-color: transparent;}.twitter-tweet {margin: auto !important;}

> — [@Poloniex](https://twitter.com/Poloniex/status/1555049567040802817)

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Lastly, we’re running a little Welcome Reward campaign: Complete tasks and get rewarded with USDD! This event closes soon, so make sure to take advantage while you can.

[Limited-Time Welcome Reward: Complete Tasks to Win 10 USDD](https://support.poloniex.com/hc/en-us/articles/7907173409943-Limited-Time-Welcome-Reward-Complete-Tasks-to-Win-10-USDD)

### The community megaphone📢

_Highlights from the community_

We just launched our Twitter account for our Chinese speaking users! Come say hi at [https://twitter.com/PoloniexChinese](https://twitter.com/PoloniexChinese)

We also held a Telegram AMA with our Director of Product to talk about our New Trading System! If you missed this one, fret not! You will be able to peruse a recap on our Medium soon.

body\[data-twttr-rendered="true"\] {background-color: transparent;}.twitter-tweet {margin: auto !important;}

> — [@Poloniex](https://twitter.com/Poloniex/status/1554346259842048003)

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And that about covers it for this week! Curious about our campaigns or upcoming events? Give us a shout in our Telegram channel-

[Poloniex English](https://t.me/PoloniexEnglish)

Is there anything you’d want to see us cover in our newsletter? Make sure to comment on this Medium article! Just want to show your appreciation? Smash that clap button and give a round of applause👏

Thanks for spending some time with us as we went over what’s going on. And wherever you are, from the team here at Poloniex, **good morning, good day, and good evening!**

![](https://medium.com/_/stat?event=post.clientViewed&referrerSource=full_rss&postId=eba6b15c41c1)

* * *

was originally published in [The Poloniex blog](https://medium.com/poloniex) on Medium, where people are continuing the conversation by highlighting and responding to this story.

https://cdn.cryptohopper.com/images/news/uploads/1659946738-the-morning-cup-btc-unaffected-amid-bank-of-england-s-rate-hike-poloniex-lists-potential.jpg

☕️The Morning Cup: BTC unaffected amid Bank of England’s rate hike, Poloniex lists potential…

☕️The Morning Cup: BTC unaffected amid Bank of England’s rate hike, Poloniex lists ETH potential hard fork tokens

**Good morning, good day, and good evening**. Welcome to The Morning Cup. It’s your weekly recap of the latest in crypto news and your start to the week, no matter where you are. Don’t worry, we’ve selected just what you need to stay up-to-date, so you won’t spend time pouring through the news you don’t need, only the news you care about.

☕️The Morning Cup: BTC unaffected amid Bank of England’s rate hike, Poloniex lists potential… - Cryptohopper

The way a market order is filled is that Poloniex’s system will find the best available price in the chosen trading pair’s order book, which is composed of other traders’ limit orders.

### Market order vs. limit order

Whereas market orders trigger at the best available price, limit orders tell the system to buy or sell at a fixed price. While this does give more control, there is a distinct possibility that you will have to wait a while to have your order filled, especially with less popular trading pairs. Some limit orders may not fill at all if your price conditions aren’t met.

### Pros and cons

While a market order is powerful in that it lets traders respond quickly to market trends and make more immediate trading decisions, it does suffer from lack of control in the price traders pay/ the amount of crypto they get from their order.

Because it depends on what is available in a trading pair’s order book, a market order may suffer from slippage as the system tries to match it with what’s available.

For instance, if your market order is for 200 USDT of BTC, but the best available price is for a limit order with 100 USDT of BTC, your order will move up the order book until filling your order, and you may end up getting less USDT than you expected.

Secondly, a market order doesn’t allow you to plan out your trades. For setting out more complex trading strategies, or to execute a trade when you can’t be at your computer/phone, a limit stop-limit, or stop-market order should be your trade tool of choice.

### How to make a market order on Poloniex

Making a market order is not only fast, it’s also quite easy to conduct.

First things first, before trading on Poloniex, make sure your account has enough funds to complete the trade that you want. Poloniex offers a large number of coin wallets into which you can make a deposit. Please remember that only crypto-to-crypto coin trades are supported and some of these coins have a minimum deposit amount. Furthermore, trades must satisfy a minimum amount depending on the trading pair.

1. From the [Poloniex homepage](https://poloniex.com/), click on “Trade” on the menu bar.

![](https://static.cryptohopper.com/images/news/uploads/1659687547-how-to-make-a-market-order-on-poloniex-1.jpg)

2\. From there, you will be taken to the [spot market](https://medium.com/poloniex/spot-trading-on-poloniex-cbc9c26d8cbe?source=user_profile---------5----------------------------) page, where you will be able to select “Market” from the order options on the left side of the page.

![](https://static.cryptohopper.com/images/news/uploads/1659687548-how-to-make-a-market-order-on-poloniex-2.jpg)

3\. The first thing you might notice is that in the price field it says “Most optimal price”, so don’t worry about that. Just enter the amount you want to buy, or select from the percentages below to spend a percentage of the token you’re buying with that exists in your wallet.

4\. Then confirm your order by pressing buy (or sell if selling).

![](https://static.cryptohopper.com/images/news/uploads/1659687549-how-to-make-a-market-order-on-poloniex-3.jpg)![](https://static.cryptohopper.com/images/news/uploads/1659687549-how-to-make-a-market-order-on-poloniex-4.jpg)You will see a “Successfully ordered” message in the top-right once confirming your buy/sell.

And that’s it! The system will match you with a limit order from the order book. Market orders are one of the new features that launched with our New Trading System upgrade, and let you respond quickly to changes in the market.

Feeling ready to sign up and get going? Signing up and trading is easy with Poloniex! Get started here: [https://poloniex.com/signup/](https://poloniex.com/signup/)

![](https://static.cryptohopper.com/images/news/uploads/1659687550-how-to-make-a-market-order-on-poloniex-5.jpg)![](https://medium.com/_/stat?event=post.clientViewed&referrerSource=full_rss&postId=7a8f6f4741ea)

* * *

was originally published in [The Poloniex blog](https://medium.com/poloniex) on Medium, where people are continuing the conversation by highlighting and responding to this story.

https://cdn.cryptohopper.com/images/news/uploads/1659687546-how-to-make-a-market-order-on-poloniex.jpg

What is a market order?

A market order lets a trader buy or sell an asset at the best price currently available. It is an indispensable tool in every trader’s toolbelt, and is designed to be executed immediately.