The cryptocurrency market is a very competitive one, with many different crypto Altcoins exchanges and crypto coins vying for the attention of investors and traders. The market has seen some major changes over the past few years, but new cryptocurrencies are still entering the scene almost daily. Some of these newer currencies have managed to carve out their niche in the crypto community and become quite popular. Others, however, fall by the wayside almost immediately.
Just as with the Altcoins themselves the Altcoins Exchanges can vary dramatically. While understanding emerging Altcoins is a must for every trader the most fundamental need is to partner with the best Altcoin Exchanges for your trading style and investing needs. With that in mind below, we take a quick comparative look at the top altcoins exchanges that we endorse.
Coinbase – Recommended Altcoins Exchange
Coinbase is probably the most popular and well-known cryptocurrency exchange in the world. With the backing of OFAC regulation, It provides high security against hackers and unscrupulous exchange practices, as well as a user-friendly digital wallet for storing cryptocurrencies. Bitcoin, Ethereum, Litecoin, and ERC20 tokens are all supported. Coinbase is a great option if you want to start buying bitcoin, but don’t want to deal with exchanging them into fiat currency yourself.
One of the unique features of Coinbase is that they offer insurance against a hacking incident. This is a rare feature in the crypto world and has made quite an impression on the crypto trading community.
Coinbase offers traders a user-friendly platform to buy, sell and trade digital currencies. The platform offers a variety of features including an intuitive interface; multiple trading platforms; 24/7 support; and secure storage for digital assets. Coinbase has been praised widely for its cutting-edge platform and its security standards. The platform has been verified by the financial watchdog, the SEC.
Coinbase provides video classes teaching trading methods and systems helping their users both learn and sharpen their trading. One of the features of Coinbase’s classes is that they incorporate exams into the course so you can gauge your educational process more accurately. Again with this education system that they have developed, Coinbase has been a trailblazer setting new standards for the Altcoins Exchange community.
This US-based exchange was founded back in 2014 and specializes in digital assets such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). Gemini offers its clients an easy way to buy and sell cryptocurrencies without having to worry about security or technical issues. It also provides its users with 24/7 customer service via live chat and phone calls.
Gemini’s platform called active trader is a great tool that allows you to track your portfolio and make informed trading decisions. Gemini also offers several educational resources, such as webinars and video tutorials, to help you learn more about cryptocurrencies. Overall, Gemini is a great platform with an excellent customer service team. As Gemini gains a track record on the course they have currently set they very easily could become our top pick.
An easy crypto exchange for you to use, Cash App provides you with the flexibility to withdraw your funds to other cryptocurrency wallets. It has a similar money transfer system that many peer-to-peer apps have. As a result, it allows the users to pay rent, split food, and shop online at stores that support Cash App.
Moreover, Cash App can act like a bank account where users can have their Cash App debit cards. Additionally, it allows you to invest in ETFs, stocks, and Bitcoin. The mobile interface that Cash App provides is easy to use even if you are a beginner investor. Even if you do not use Cash App for investing you should set up a Cash App account! I think of Cash App as PayPal on Steroids.
With Cash App, you can withdraw cryptocurrency investments directly to your wallet, which is an important feature in the cryptocurrency community.
Binance – Second Best Recommend Altcoins Exchanges
There are many reasons why people might choose to use Binance as their altcoin exchange. One reason is that Binance has a very user-friendly interface, making it easy for users to navigate and trade their altcoins. Additionally, Binance is one of the most well-known altcoin exchanges in the world, meaning that there is a high chance that you will be able to find the altcoin you are looking for on Binance.
While Binance has a lot to offer the aspiring altcoin trader we have found that it can be difficult to communicate with customer service. Many times it may take several days and even weeks to get a reply to an email. Unfortunately, there is no live support at Binance.
Currently, Binance is not available to traders in all 50 sates
The place where Binance shines is in its security. Binance is one of the few exchanges that has been able to pass a full security audit. Additionally, Binance has a strict no-money-laundering policy, meaning that your funds are safe from any illegal activities.
When it comes to fees Binance boasts some of the lowest trading fees as compared to other US altcoins exchanges. Low trading fees can be an advantage when a person is first learning. However, they do require a minimum trade of $10 value.
Another reputable altcoins exchange that has chosen to emphasize security is Bittrex. They boast that they have never been hacked or lost customer funds.
Bittrex’s proprietary platform lists an impressive variety of altcoins. Using the Bittrex platform you find all the standard trading features such as stop-loss, instant buy/sell orders GTC (good till canceled) as well as all the standard technical analysis tools a trader expects with a trading platform. Users give the exchange’s interface rave reviews for its speed and clutch-free operation. On top of all that Bittrex offers an option for trading on margin (not recommended for beginners).
The biggest disappointment with Bittrex is its customer support. Reviews of their response time are dismal. Most applications go through seamlessly but can take some time to get approved. Additionally, if there is an issue or question about your ID during the application process expect approval to be quite time-consuming.
The BISQ exchange is an altcoins exchange tailored to the crypto traditionalist. It is worth our time here to understand the differences between a centralized exchange and a decentralized exchange. On a decentralized exchange, a peer-to-peer network facilitates all trades. In short, it’s an exchange that simply connects buyers and sellers without the middleman or brokerage.
If you are looking for increased autonomy and privacy a decentralized exchange may be attractive to you. Most of us are familiar with the Credit Union concept where the depositors own and run the union. In much the same way BISQ is owned by its traders and contributors.
The primary benefit of a decentralized exchange is that anyone can trade from any location in the world. Other centralized altcoin exchanges are generally limited to certain states or countries depending on the laws and regulations of the region where the headquarters is located.
Trading on a decentralized exchange is an option for the advanced trader. Before attempting a decentralized exchange a new trader needs to get some experience and education.