7 Best altcoin trading platform for altcoin trading
Altcoin trading is a whole new branch of trading and has been attracting as many traders and investors as gold, penny stocks or real estate, if not more. Well, the numbers certainly are.
The first major step is to find suitable, secure, and the best altcoin trading platform for convenient and profitable altcoin trading.
For the last 2 years, or so, cryptocurrencies (especially Bitcoin) have been a focal topic in the financial market. Cryptocurrency as an investment option seems to be rising exponentially. So is the demand for best altcoin trading platforms where investment can be made.
Last Year, from late November 2017 to February 2018, the Bitcoin price got surged more than 3000%. Its then people realized investing in altcoins rather than Bitcoin.
This led to an increasing market cap of altcoins. Especially major cryptocurrencies like Ethereum, Litecoin, Binance coin, Ripple, Bitcoin cash, Cardano, Lumen, NEO, etc.
The market is currently flooded with altcoins. You can find 1500 altcoins lists actively trading on our platform. Many of these cryptocurrency prices are far less than Bitcoin, making them more accessible to investors without a significant amount of initial capital to spend.
A large number of altcoin and volatility in their price has open a whole new branch of trading called crypto trading. It is similar to forex trading with fewer technicalities.
In fact, it depends on the basic trading rule “buy low and sells high”.
Altcoin trading can be short-term or long-term trading. Short term altcoin trading is like short-selling any investment product — if done smartly, it can yield significant rewards quickly.
In order to start altcoin trading, a trader should possess cryptocurrency
“whether a trader buys the cryptocurrency directly through a cryptocurrency exchange or transfer from the Altcoin wallet to the altcoin trading platform”
While Bitcoin trading against fiat money is available on numerous bitcoin exchange.
Altcoin trading is a niche in which only a few platforms are specialized and their features differ a lot compared to a regular Bitcoin exchange
The fundamental requirements to be on the list of best altcoin trading platform
1. Reputation and Background:
Reputation and Credibility is the first thing that you must consider before selecting a cryptocurrency trading platform.
The best way to know the reputation of a trading platform is to check user reviews on major cryptocurrency public forums like Bitcoin talk, or Reddit.
2. Ease of use –
Best altcoin trading platform should have an easy to use platform or user-friendly platform. So even new crypto traders can get accustomed to the altcoin trading.
The cryptocurrency trading platform must have robust security.
So a user can trade with a peace of mind and can leave trading asset over the exchange.
Fees are another factor in the search of a specialized top altcoin trading platform.
The cryptocurrency trading platform must have minimal fees so that you can make a good profit out of it.
If the fee is high, it would be difficult to book your profits in small trades.
Number of altcoins to trade –
Higher the number of legitimate altcoins to trade better will be the altcoin trading platform for altcoin traders.
Liquidity means how quickly the trader can get your hands on your wanted currency by exchanging it for other currencies.
Higher the liquidity better the cryptocurrency trading platform for altcoin trading.
Trading tools are the certain trading features offered by a specialized altcoin trading platform to make trading more convenient.
Support of the best altcoin trading platforms should be of top-notch and should available 24*7
Availability of an altcoin trading platform to the number of countries is also a major factor to be on the list of 12 best altcoin trading platform
According to these criteria, I have listed the 9 best altcoin trading platform for altcoin trading
9 Top Altcoin trading platform list for altcoin trading
1. Bitfinex –
Bitfinex is one of the best altcoin trading platforms was officially opened in 2012 by Bitfinex Limited
The company is based in Hong Kong and is in operation since 2014 with a large trading volume even higher than the one of the most reputed Bitcoin exchange (Coinbase.)
It allows you to trade 13 popular cryptocurrencies including Bitcoin
They charge a commission fee of 0.1% to 0.2% depending upon the trading amount.
Bitfinex uses a maker-taker fee model in which a maker who adds liquidity to the exchange ecology, and a taker is the one who removes it. The maker is charged with 0.1% fee and the taker is charged with 0.25 fee.
Bitfinex allows you to buy altcoins with fiat money (USD and Euro). Cryptocurrencies are also accepted.
Bitfinex user interface is very friendly even to beginners. The platform offers quick options to buy and sell cryptocurrency as well as to place orders. The altcoin trading platform is mobile-friendly and responsive.
Bitfinex (altcoin trading platform) provides advanced trading tools such as limit orders, stop orders, trailing stop, fill or kill, and TWAP, along with different market charts.
It also offers high Ethereum and Bitcoin liquidity.
It offers two-factor authentication to keep your account secure and user have to get the account verified before an individual can start altcoin trading.
You need to provide the email address, personal information including mobile no and have to upload related documents to get your individual account verified
Support is available 24/7 but only via email.
The Bitfinex trading platform supports most countries worldwide excluding the U.S.A.
Bitfinex is available in India
- High trading volume
- High liquidity
- margin trading and leverage available
- Unlimited withdrawal
- Got hacked in 2016 (but recover well).
- Not available for the USA residents
- In late 2017 had payment and registration issues (getting normal)
Binance is second on the list of 9 best altcoin trading platform.
Its ICO was announced on June 2017.
Though it is China-born, it doesn’t serve its native country but is open to almost all countries around the world.
It has built an outstanding reputation in such a short period of time.
Although this renowned Exchange was initially launched in Shanghai, China.
It was later moved to the more friendlier nation, Hongkong.
The servers, on the other hand, are hosted in the Republic of Korea and Japan.
Binance trading volume has skyrocketed since its launch and it is already in 3 best altcoin trading platform according to trading volume
Binance offers more than 200 altcoins and it is said to be the first adopter of a new ICO token.
There are no deposit fees on the platform but trading and withdrawal charged a minimal fee.
The trading fee is currently 0.1%, regardless of the coin, but it can be halved if paid with BNB (Binance coin, an altcoin backed by the platform itself).
Binance uses maker-taker fee model. Watch the below video to understand maker-taker fee model
Withdrawal fees depend on the withdrawal cryptocurrency. Binance is also multilinguistic.
Fiat deposits are not accepted, the site only accepts more than 500 cryptocurrencies. It allows crypto to crypto exchange.
Binance uses two different trading method one is basic and another one is advanced. There are more than 500 trading pairs available for altcoin trading.
Two-factor authentication is available for basic security of the exchange. The platform also offers a multi-tier and multi-tier security system architecture.
It is easy to navigate on the Binance platform. The platform can be a little bit tricky for beginners. A little bit of time in exploring the tabs will make newbies confident.
The website doesn’t lag for a second, provides a great user experience. They also have mobile apps for both iOS and Android users.
Support usually reply within 24 hours but only available via email.
It supports almost all major nations worldwide excluding China.
Binance is available for U.S and Indian customers to trade
- Low trading fee.
- More than 200 altcoins are available for trade.
- High trading volume
- Doesn’t support fiat currencies as the payment method.
Bitmex is the leading Cryptocurrency margin trading platform online
Launched by HDR Global Trading Limited in 2014, BitMEX is a trading platform operating in Hong Kong and registered in the Republic of Seychelles.
They have more than 1M user access monthly and a daily trading volume of over 1M BTC.
It regularly sits comfortably in the top 5 best altcoin trading platform on the daily trading volume
Bitmex also offers cold storage wallet for altcoins.
The best altcoin trading platform also allows users to trade altcoins against fiat currency mainly USD, Japanese yen, and Chinese yuan. Bitmex has very competitive 0.25% trading fee.
There is no deposit fees and withdrawal fees. It does not support the withdrawal of fiat currency
Bitmex has very robust security. Till date, there hasn’t been an incident of security breach or fraud.
Security is one of the top priority for the cryptocurrency exchange.
Bitmex offers high liquidity and leverage up to 100x
Bitmex offers a wide variety of trading options as it is mainly a pure altcoin trading platform.
Along with margin trading, it also allows trading future derivatives and swaps.
Trading future derivatives terminology
- Limit Order — this order is fulfilled if the given price is achieved
- Stop Limit Order — allows users to set the price of the Order once the Stop Price is triggered
- Take Profit Limit Order — similar to a Stop Order, to set a target price for a position.
- Market Order — this order is executed at the current market price
- Stop Market Order — this is a stop order that does not enter the order book, remain unseen until the market reaches the trigger price
- Take Profit Market Order — This is similar to the previous type, but in this case, the order triggered will be a market order, and not a limit one
The interface is intuitive and easy to navigate. The website is fast and responsive, but newbies will take some time to get used to the interface. The platform operates swiftly on the mobile application (android app)
- One of the best and advanced altcoin trading platform.
- Supports anonymity
- A wide variety of trading options
- Offer leverage up to 1:100
- Not a beginner-friendly platform (will take time to get accustomed).
CEX.IO was one of the oldest altcoin trading platforms established in 2013.
It is a company based in London and founded by Oleksandr Lutskevych.
Cex.io initially operated both as a Bitcoin exchange and cloud mining service.
One stage its mining pool, known as Ghash.io, was one of the largest on the Bitcoin network, holding 42% of the total mining power of the Bitcoin network.
But this service was closed in the year 2015. Now, it works only as a cryptocurrency exchange.
The cex.io trading platform support 10 best cryptocurrencies.
You can buy, sell, and trade Ethereum, Bitcoin cash, Bitcoin, Dash, Ripple, Monero, Litecoin, Zcash, Stellar, Bitcoin Gold with the credit card directly or can deposit Fiat with Bank transfer and SEPA.
Cex.io support USD, Euro, GBP, and BTC/RUB market is also added recently.
CEX.IO has a clean altcoin trading interface and offers the following orders:
- Market order
- Limit order
- Stop order
- Margin trading
- Cex.io offers high liquidity and leverage up to 1:3
The trading interface is easy to use, and the entire platform is very beginner-friendly.
The exchange is also available for both Android and iOS.
Cex.io charge 0.1% to 0.2% trading fee depending on the trading pairs. Extra 5% fee for buying altcoins with a credit card directly.
Cex.io has a strong security architecture. There was an incident of cryptocurrency exchange getting hacked in 2013 at its initial phase.
The vulnerability was immediately patched, and since then everything is running swiftly.
The Customer support of the platform is of the highest standards.
Cex.io offer services around the globe with few exceptions.
- Well established and secure platform
- Allows buying bitcoin with a credit & debit card
- High trading volume
- Relatively high fee on buying Bitcoin and altcoins with a Credit card directly
Bittrex is one of the Internet’s best altcoin trading platform and often makes its way into the world’s top 3 altcoin trading platform based on trading volume.
Bittrex has been in operation since 2014 based in Seatle, USA. Bill Shihara is the Co-Founder and CEO of Bittrex.
He has 11 years of experience working with Microsoft, Amazon, and Blueberry.
There are more than 250 active altcoins available for trading against Bitcoin, Ethereum, and fiat currencies in the form of USD-Tether and Bit-CNY.
You can create a wallet address for every listed altcoin and can store on the exchange itself.
But I will never suggest leaving your coins on an online exchange always use hardware wallet as it eliminates any possibility of mishappening.
It consistently maintains its place in the top 3 best altcoin trading platform according to daily trading volume
Bittrex charges a 0.25% trading fee. Withdrawal fee varies according to cryptocurrency.
Bittrex doesn’t support leverage and neither it supports margin trading.
However, the current trading engine seamlessly supports automated trading features like GTC (Good till canceled) and IOC (Immediate or Cancel), with all the standard technical charting tools a trader needs.
GTC (good till canceled) — This means that the system would continue to look for your buy/sell post until this is fulfilled.
IOC (Immediate or Cancel) — This means you would buy/sell your cryptocurrency for your (ask or bid) price. If any portion of the currency being sold or bought cannot be fulfilled, this will be canceled.
The platform has never been hacked or compromised.
Enabling 2-factor authentication is compulsory to withdraw the funds.
The current trading platform has a clean and easy to use interface.
The graphical representation of altcoin price stats makes interface beginner-friendly.
There are issues regarding support delayed response.
Recently there are a few cases of temporary suspension of users account without giving any reasonable explanation.
The situation has been going on for some time now, with only minimal response from the Bittrex team.
Bittrex supports all major countries worldwide including India, UK, and Europe (excluding certain states in the USA).
- Security is top-notch
- A large list of tradable altcoin
- Beginner-friendly interface
- Fiat currencies are not supported
- Poor customer support
- Occasional temporarily the suspension of user accounts before the fork
HitBtc is 6th best altcoin trading platform established in 2013.
Hitbtc is a Multi-faceted altcoin trading platform which allows buying, selling, and trading more than 200 altcoins, token, and ICO.
HitBtc accepts payment via wire transfer and cryptocurrencies.
SEPA is supported by European countries.
USD and Euro are fiats accepted by the platform it also allows to trade against fiat currency.
There is no cryptocurrency depositing fee at HitBtc. Fiat depositing fee is relatively low and depends on the amount and currency. Same is the case with the withdrawal fee.
HitBTc uses taker-maker trading fee model where taker is charged with 0.1% trading fee while the maker receives the rebate of 0.01% at the trading amount.
HitBtc offers to stop and limits trading options. Additional order types supported by the platform are (GTC) good-til-canceled, good-til-time, day, immediate-or-cancel, and FOK (fill or kill)
Security of the exchange is robust but HitBtc got hacked once in 2015 but since then it is going well. Their customer service is below par and criticized their late response.
HitBtc multilinguistic and supports almost every corner of the world.
- A myriad of altcoins available
- Accepts fiat deposits and withdrawal
- Low trading fee
- Support multiple order types
- Allows buying Ethereum, Bitcoin, and other altcoins with fiat currency
- Customer support is poor
- Got hacked in 2015
Exmo is London based popular altcoin trading platform launched in 2013.
It is popular because of the trading pairs it offers.
It supports 5 Fiat currency allows altcoin trading against more than 50 popular cryptocurrencies.
It supports about 50 fiats/crypto and crypto/crypto trading pairs.
Fiat currency available is USD, Euro, Polish Zloty (PLN), Ukranian hryvnias (UAH), Rebels (RUB).
It supports more than 50 payment methods to trade, sells, and buy altcoins. Exmo supports the following payment methods
Credit & debit card, Bank transfer, SEPA, Payza, Neteller, Skrill, Money Polo, Payeer, AdvCash, OkPay, Crypto capital, Perfect money, Giropay, Bancontact, Visa & Mastercard, and Cryptocurrencies.
Cryptocurrencies supported by Exmo are BTC, BCH, EOS, TRX, XRP, LTC, ETH, ETC, USDT, ZEC, OMG, BTG, DOGE, HBZ, KICK, XMR, MNX, DASH. BTCZ, WAVES, STQ, and DXT
Exmo charge variable depositing fee for different payment methods
- It charges 6% with the credit card & direct card, 2.5% if you deposit with a credit card using (UAH).
- Neteller 4.5%
- Payza 2.9%
- Skrill 3.4% + $0.36 (USD) & 3.5% + €0.29 (EUR)
- 25 Euro for SEPA
- 0% cryptocurrencies
- Wire transfer cost 0% (USD), 20 (PLN)
- Okpay 0.5% (PLN).
Exmo charge 0.2% fix trading fee
Withdrawal fee charged by Exmo varies from 0% to 4%
- Cryptocurrency withdrawal fee varies according to Coin
- Credit card & debit card withdrawal fee: 3% + $5 (USD), 3% + €5 (EUR)
- SEPA: 4% (Euro)
Exmo is a basic altcoin trading platform with not much of trading types.
Security of the exchange is robust with no account of mishappening, Customer support is available 24/7.
It is also available in more than 200 countries including the USA and India.
Exmo stands at the Eighth on the list of the best altcoin trading platform for altcoin trading.
- Multiple payment options to buy, sell, and trade cryptocurrencies
- A healthy number of cryptocurrencies available for altcoin trading
- Support is top-notch
- High depositing and withdrawal fee
- Credit card transactions cost way too much
- Basic altcoin trading platform