11 Best Altcoin Exchanges
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The number of alternative cryptocurrencies s on the rise, and so is the number of altcoin exchanges that enable users to buy, trade, and sell them. To help with the selection process, we review and compare the best altcoin exchanges and their key features. By learning bout each of them in this comparison, users can decide which altcoin exchange is the most suitable for their needs.
Best Altcoin Exchanges For 2023
- Binance (best overall altcoin exchange with low fees)
- Bybit (best platform for altcoin traders)
- Kraken (best altcoin platform for USA traders)
- Coinbase (best altcoin exchange for beginners to use)
- eToro (best platform to copy-trade altcoins)
- Kucoin (best for selection of altcoin trading pairs)
- MEXC (best for trading a wide range of altcoins)
- Phemex (best for privacy-focused traders)
- Crypto.com (best mobile app for buying altcoins)
- Gate.io (best for exotic altcoins)
- Huobi (best all-round altcoin exchange)
List of Top Altcoin Exchanges Compared
Below is the comparison list of top altcoin exchanges that we review in this guide. The parameters considered during the review are the number of crypto assets listed, the trading fees, the ease of use, and the security.
| Exchange | Crypto Assets | Trading Fees | Rating | Promotion | Website | Review |
|---|---|---|---|---|---|---|
 Binance | 385 | 0.1% (spot) and 0.02% / 0.04% (Futures) | Rating    | Up to $100 welcome bonus | Visit Binance | Binance Review |
 ByBit | 331 (608 trading pairs) | 0% (spot), 0.06% / 0.01% (futures) | Rating | 0% trading fees for 30 days (spot only) | Visit ByBit | ByBit Review |
 Kraken | 222 | 0.16% (maker) and 0.26% (taker) | Rating | None available at this time | Visit Kraken | Kraken Review |
 Coinbase | 241 | 0.4% (maker), 0.6% (taker) | Rating | $5 BTC bonus (USA only) | Visit Coinbase | Coinbase Review |
 eToro | 79 | 1% | Rating | None available at this time | Visit eToro Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB. | eToro Review |
 KuCoin | 806 | 0.1% | Rating | Up to 500 USDT in bonuses | Visit KuCoin | KuCoin Review |
 MEXC Global Exchange | 1521 | Spot: 0% (maker) / 0.2% (taker), Futures: 0.02% (maker) / 0.06% (taker) | Rating  | 10% discount on trading fees | Visit MEXC Globa... | MEXC Global Exchange Review |
 Phemex | BTC, ETH, XRP, and 334 Others | 0.1% (spot), 0.06% / 0.01% (futures) | Rating | Up to $6,050 Crypto Sign Up Bonus | Visit Phemex | Phemex Review |
 Crypto.com | 288 | 0.075% | Rating | None available at this time | Visit Crypto.com | Crypto.com Review |
 Huobi | 595 | 0.2% | Rating | None available at this time | Visit Huobi | Huobi Review |
 Gate.io | 1,752 | 0.2% | Rating | None available at this time | Visit Gate.io | Gate.io Review |
List of the Top Altcoin Exchanges: 2023 Reviews
1. Binance - Overall Best Altcoin Trading Exchange
Why we picked it
Binance is the world's leading cryptocurrency exchange, with over 300 altcoins listed and a customer base of over 30 million users. It has a reputation as the world's most favored altcoin exchange for many reasons and is ranked #1 for global trading volume and liquidity. Combined with its low fees of 0.1% per trade, it's one of the main reasons Binance is our top pick for the best altcoin exchange. Moreover, new users can get up to a $100 sign-up bonus when using a Binance referral code.
Promotion:- High volume and liquidity exchange that supports over 600 altcoins.
- World leader is the listing of new altcoins.
- Competitive spot trading fees that can be reduced.
- Ample features to get the best out of altcoins including staking and interest-earning accounts.
- Limited selection of altcoins for traders using Binance.US.
- The user interface may be a bit complicated for beginners.
One of the biggest reasons is the “Binance pumping effect”. It is a term popularized in the bull market that refers to the massive uptick in altcoin's price when it is listed on Binance. Altcoins have surged in value by up to 1000x and sometimes even more within a few minutes of being listed on Binance. This crypto trading platform has been sought after by most altcoin developers, who are even willing to delay the listing process for Binance to take notice.
As one of the best cryptocurrency exchanges, Binance is also regarded as the biggest altcoin exchange. The reason is the support it provides for altcoins. Binance is generally the first cryptocurrency platform to list altcoins after launch. It later lists most of them in isolated margin pairs – allowing crypto investors to trade these altcoins on leverage.
Binance website.Binance is also one of the best exchanges to earn benefits on altcoins, offering passive rewards for more than 100 altcoins. Seasoned investors can stake their tokens through DeFi staking or locked staking. More frugal investors who are looking for safer investment options can choose Binance savings, where they can earn interest on altcoins through a fixed or flexible savings account.
Another reason that Binance is considered to be the best by many investors is its low trading fees. Binance charges maximum maker and taker fees of 0.1% and 0.1%, respectively – among the lowest of all crypto exchanges. Altcoin investors can reduce their trading fees further by buying Binance Coin (BNB) and holding it in their account wallets. For example, if between 25 and 100 BNB is held, the reduced maker and taker fees are reduced to 0.09% and 0.1%, respectively, with an extra 25% discount available for paying fees in BNB.
The only potential downside of Binance is its fairly complicated-looking user interface and trading terminal, which may be difficult to use for absolute beginners. The platform attempts to bridge the experience gap with a well-designed library of easy-to-read articles. Moreover, Altcoin investors and traders residing in the United States of America (USA) may wish to seek an alternative altcoin exchange. Binance's sister platform, Binance.US, only supports around 150 altcoins for purchasing, trading, and selling.
Overall, Binance is the best exchange to buy altcoins and is likely the first choice for many. Apart from the astounding number of altcoins to buy, trade, and sell, the exchange offers premium security and a wealth of supporting features where altcoin enthusiasts can stretch their altcoin holdings further.
For more details, read our full Binance review and Binance.US review.
2. Bybit - Best Alternative Altcoin Trading Platform
Why we picked it
Bybit is one of the largest exchanges in the world for both spot and derivatives altcoin trading. The feature-rich platform offers copy trading, automated bots, and MetaTrader 4 support, a feature seldom seen in exchanges we've reviewed. With Bybit offering 400 tradable assets and such a diverse selection of tools, the platform is ideal for altcoin traders of all preferences.
Promotion:- Wide selection of altcoins and trading pairs.
- Competitive trading fees with zero-fee options.
- Selection of automation tools.
- No multi-screen charting.
- Trading bots are not as customizable as competitors.
Bybit offers a wide selection of altcoins, including popular tokens like Ethereum and lesser-known projects like Verasity (VRA). Outside of the 400 altcoins Bybit offers in the spot market, the exchange lets you trade USDT, USDC, Options, and inverse contracts with up to 125x leverage for 821 trading pairs, far higher than most cryptocurrency trading platforms.
In addition to its substantial range of altcoins, Bybit supports 130 fiat currencies, including USD, GBP, AUD, and EUR. Therefore, the platform is suitable for traders with existing cryptocurrency holdings as well as those needing to purchase assets to fund their trading accounts.
Bybit also offers competitive trading fees similar to Binance. Spot transactions incur a 0.1% charge, while derivatives trades are priced at 0.06% (taker) and 0.01% (maker). However, the exchange offers one of the largest selections of zero trading fee assets, with 32 USDC-denominated pairs available.
To ensure its users have the required tools for trading, Bybit has implemented its own charting system in addition to one provided by TradingView. Therefore, users can access over 75 technical indicators and an impressive selection of drawing tools, enabling experienced traders to plot complex strategies without leaving Bybit. However, seeing multi-screen charting implemented to compare assets would be nice.
Another tool Bybit offers that novice and experienced traders will find useful is the copy trading service. Using this feature, you can find 'Master Traders' to automatically mirror, viewing statistics like earnings and follower count to find excellent traders. Additionally, you can apply to be a Master Trader to earn 10%-15% of your followers' profits as a commission, providing regular income.
Bybit is excellent for manually trading crypto altcoins. However, the platform also offers trading bots, enabling you to open and close positions automatically when certain criteria are met. Although you can customize the bots, platforms like OKX let you customize bots based on technical indicators, providing greater flexibility.
Three types of bots are available on Bybit:
- Spot and Futures Grid - Automatically buy and sell digital currencies within a predetermined price range with zero fees. Additionally, the bits come with manual and AI-generated strategies. Futures Grid operates similarly to the spot grid but offers up to 100x leverage.
- Dollar-Cost-Average (DCA) - More suited to investors than traders, the DCA bot lets you schedule crypto purchases using your USDT balance at regular intervals spanning between 10 minutes and four weeks.
Bybit is an all-around excellent trading platform and is well deserving of being considered one of the best cryptocurrency exchanges available. With low fees, a wide selection of trading pairs, an excellent trading interface, and several automation tools, the exchange is a great option for altcoin traders worldwide, regardless of their chosen strategy.
To learn more, read our full Bybit review.
3. Kraken - Best Altcoin Trading Exchange For USA
Why we picked it
Kraken is next on our list of top altcoin exchanges that are available to US traders. Despite being a long-standing crypto trading platform, Kraken only offers a moderate list of 228 altcoins that can be bought or traded at the time of writing. This is the far cry from its rivals, including Binance and KuCoin, where hundreds more altcoins are available.
Promotion:- US licenced and reputable exchange with a strong security focus
- Competitive fees starting from 0.16% and 0.26% for maker and limit orders
- Variety of payment methods to fund an account with fiat currency
- Advanced trading platform to speculate on altcoins with modern charting tools
- Overall trading experience may be too complicated for first time users
- Fees to buy altcoins with cash is above market rates
Altcoins can be directly purchased using one of the seven supported fiat currencies (USD, EUR, GBP, CAD, CHF, AUD, and JPY) that can be deposited into the user's account with zero fees. Various payment methods are supported, including SEPA, wire transfers, bank transfers, and SWIFT. Alternatively, you can use BTC, USDT, USDC, DAI, or DOT to buy altcoins. Almost all of the supported crypto that can be transferred into a Kraken wallet can be done for free. However, some, like ETH, will incur a minor blockchain fee.
Kraken is comparable to most of the altcoin exchanges listed here regarding fees. The platform uses a maker and taker fee structure with costs of 0.16% and 0.26%, respectively. Whilst the fees are not the cheapest in the industry, they are very competitive, particularly for one of the few altcoin exchanges in the USA.
The user interface provided by Kraken is robust and contains multiple tools to get access to nuanced analytics about the altcoin market. Beginners who don't need to view charting or real-time prices can simply use the Buy function to quickly purchase their altcoin of choice and have the assets transferred to their wallet. Whereas serious and professional traders will find the advanced charting platform on Kraken Pro highly appealing with its assortment of analytical tools and crypto charting software.
Whilst Kraken does not currently offer interest-earning wallets, the platform is one of the better crypto staking options available to US investors and blockchain enthusiasts. When writing, 16 digital assets such as DOT, ATOM, ADA, SOL, and MATIC can be staked to accumulate passive rewards paid out bi-weekly. Reward yields range from 1% to 23%. Compared to other platforms Like Binance, the staking module on Kraken is very user-friendly, and it is clear that the interface has been designed with beginners in mind.
Kraken provides investors, including those residing in the USA, with a serviceable altcoin trading experience. Whilst it doesn't offer a large range of altcoins, the user experience is simple and visually pleasing, making it ideal for newcomers to the crypto investment space. Moreover, Kraken is one of the biggest exchanges in the industry, so the trading spreads are relatively low for high-frequency altcoin traders.
Read our full review on Kraken.
4. Coinbase - Best Altcoin Exchange For Beginners
Why we picked it
Coinbase is one of the most user-friendly cryptocurrency platforms in the world and has been included for its suitability to newer crypto investors. Coinbase supports 244 altcoins, such as EOS, ADA, TRX, and XMR, with new coins added regularly. Coinbase has a digital framework to list new altcoins, allowing day traders to invest in those assets the very next day.
Promotion:- Listed on the NASDAQ, making it one of the safest altcoin exchanges in the world
- Global leader in altcoin liquidity and trading volume (behind Binance)
- Intuitive and beginner-friendly exchange and mobile app to buy altcoins with fiat, Bitcoin and stablecoins
- Regulated exchange in the United States (and 200 other countries worldwide)
- Does not have an extensive range of features (e.g. staking, earn interest) to maximize altcoin investment
- Trading fees to buy altcoins with fiat and crypto are higher than average
- Customer support can be lacking with long response times
Coinbase allows investors to buy altcoins using fiat currencies such as USD, CAD, EUR, and GBP. However, it charges a high deposit fee of 3.99%. A cheaper 1.49% fee option is available, known as the ACH transfer. But it has been found that transaction speeds are sometimes slow. Therefore, most altcoin traders only use crypto assets to trade on Coinbase, much like Binance.
Coinbase is a versatile crypto exchange providing multiple features for individual and institutional altcoin traders. Top features that will benefit altcoin investors and traders include:
- A wide range of wallet financing options, including bank transfers, EPA payments, wire transfers, PayPal, credit cards, and Faster Payments.
- Staking for a limited selection of altcoins where Annual Percentage Yields (APY) of up to 17.66% can be passively earned.
- A 'Learn and Earn' feature where beginners can complete educational programs to earn altcoins.
- A non-custodial wallet, Coinbase Wallet, can store multiple altcoins, dApps, and NFTs.
The standard Coinbase interface is highly suitable for beginner altcoin investors who prefer a buy and HODL strategy. For advanced users with an extensive background, the Coinbase Pro Exchange will be appealing. Traders can take advantage of Coinbase's significant liquidity and lower maker-and-taker fees for an economical trading experience. The interface provides real-time charting and access to advanced tools such as moving averages to analyze the price action.
The fees for buying altcoins on Coinbase follow a maker and taker that start from 40bps and 60bps, respectively. Coinbase fees are not as competitive as the other altcoin exchanges on this list, which is one of its main drawbacks.
Overall, Coinbase is a great altcoin exchange, allowing both novice and veteran investors to buy and trade altcoins or earn interest on them. While the deposit fees are on the higher side, Coinbase makes up for it by allowing users to invest in altcoins if they have as little as $2 in their Coinbase accounts.
Read our full review on Coinbase.
5. eToro - Best Platform For Altcoin Social Trading
Why we picked it
eToro is a well-established crypto platform that supports a wide variety of assets, including cryptocurrencies, stocks, and forex. The broker supports 92 altcoins and provides multiple options for investors to obtain altcoins, including debit/credit cards, wire transfers, Skrill, and Neteller. It is a highly suitable altcoin platform for beginners and those wanting altcoin trading on an easy-to-use website or app. While the absence of margin trading pairs will not suit altcoin day traders, eToro offsets this with its Copy Trading and a Smart portfolio
Promotion:- Social trading community to copy-trade profitable users.
- A highly regulated multiple asset platform.
- Visually intuitive and beginner-friendly platform.
- Expensive 1% trading fee to buy altcoins.
- Limited selection of altcoins.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
One of the best aspects of eToro is that there are no deposit fees to trade altcoins as long as they investor top-ups of their eToro portfolio with USD. US and UK users can start investing in altcoins with as little as $10 in their accounts. Regarding trading fees, eToro charges 1% per trade, which is quite expensive compared to altcoin exchanges offering similar features.
Although eToro previously only offered CFD trading, you can now directly invest in altcoins on the spot market using the exchange. Furthermore, beginners who are starting to build their altcoin portfolios can acquire them using its popular social trading feature. The benefit of this is that investors can see which altcoins are being traded by other eToro users with high yields.
eToro's crypto copy trading platform allows investors to simulate the investment strategies of successful crypto traders on the platform. Users can browse a range of traders who frequently yield high Returns On Investment (ROI), follow them, and ultimately choose them to mirror top altcoin traders' positions. Altcoin investors who are part of the popular investor program can earn a portion of the trading fee whenever the users invest in the program members’ copied assets.
Another factor that makes eToro a worthy altcoin platform is Smart Portfolio. A Smart portfolio is a bundle of related assets that users can use to diversify their altcoin investments. There are 16 altcoin smart portfolios, including DeFi Portfolio, Crypto Portfolio, and Meta Portfolio. This takes out the guesswork and allows traders to buy a selection of 39 altcoins in a single trade.
eToro also offers altcoin staking. However, it is limited to three altcoins: Tron, Ethereum, and Cardano. Overall, its altcoin staking features are limited, less robust, and not as lucrative compared to other altcoin platforms on this list. Moreover, there is a 25% commission on altcoin staking rewards. Read this article for a list of the best staking platforms with a better selection of altcoins to stake.
eToro is highly regulated by various government bodies around the world, including the Financial Conduct Authority (FCA), Securities and Exchange Commission (SEC), and Australian Securities and Investments Commission (ASIC), to operate as a crypto platform for Australians. This means that eToro must adhere to strict procedures to safeguard customer funds and assets and maintain the integrity of its digital infrastructure. In addition to regulations, eToro also implements industry-standard security measures to secure assets, such as 2FA, SSL encryption, and storage of assets in tier-1 banks. eToro also provides a free insurance policy to account holders.
Investors who wish to learn about altcoins or other crypto assets can also use eToro learn, a collection of blogs and videos about investment and trading. With eToro Plus, users can get a summary of the latest market trends in altcoins.
For more information, read our eToro review.
6. KuCoin - Best For Selection of Altcoin Pairs
Why we picked it
KuCoinis the 5th largest cryptocurrency exchange based on traffic and trading volume. The platform has multiple innovative crypto services, such as futures markets, a spot exchange, crypto swapping, staking, margin trading, lending services, and interest-earning features. But where KuCoin excels is having one of the world's largest selections with 864 altcoins that can be bought and traded. The sheer number of supported coins and trading pairs makes KuCoin a desirable option for users who want to diversify their altcoin portfolios.
Promotion:- Fiat gateway that enables users to purchase over 700 altcoins using a variety of methods.
- Competitive spot and futures trading fees of 0.1%.
- Outstanding Earn feature where interest yields up to 101% APY can be passively earned.
- Limited selection of altcoins that can be bought with fiat currencies.
- Not available for altcoin traders in the United States.
The three major methods of acquiring altcoins with fiat currencies on KuCoin are described below. Whilst the number of supported crypto is relatively modest, KuCoin's fiat gateway offers more choice than most other platforms.
- Credit/debit card: Purchase up to 11 altcoins such as ETH, TRX, and LUNA.
- Peer-to-Peer (P2P) marketplace: Users can directly buy and trade altcoins with other users who are accredited by KuCoin to act as merchants through its top-rated P2P platform. However, the only altcoins supported at the time of writing are Ethereum, KuCoin Token, USDT, and USDC.
- Via third-party: Select from over 70 payment methods to buy cryptos, such as ApplePay, iDEAL, and Bancontact. Over 80 altcoins are supported, including SHIB, FIL, BAT, and SAND. The payment method depends on the third-party payment provider (e.g., Simplex, Banxa) available for the coin selected.
KuCoin's large list of altcoins can be purchased and traded on the spot market with competitive spot fees of 0.1% and 0.02% (maker) / 0.06% for futures trading. For savvy investors who already hold a range of altcoins on the platform, the Convert function can be used to trade altcoin to altcoin via its zero trading fee platform.
One of KuCoin's standout features that will appeal to altcoin holders is its margin trading, where leverage up to 10x can be applied to long and short positions on over 220 trading pairs with BTC, ETH, USDC, and USDT as the base currencies. Additionally, a further 188 USDT-M and Coin-M perpetual contracts are available.
There is even the ability to create automated bots or strategies for serious crypto traders. KuCoin is one of the leading crypto trading bot exchanges with in-built bots, including Spot Grid, Futures Grid, Smart Rebalance, Dollar-Cost-Averaging (DCA, and Infinity Grid.
For investors who prefer the HODL strategy, KuCoin's interest-earning wallet and lending platform will give them passive growth on their altcoin portfolio. Interest yields of up to 240.07 % APY can be generated on 109 digital assets, including popular choices such as ETH 2.0, ALGO, and KSM. Similar to other interest-earning wallets like Binance Earn, investors have the choice of locking their assets in for a period of time for higher rewards or putting them into a Flexible account. Whilst altcoins can be withdrawn from the Flexible account, they typically offer lower ROI in exchange for the flexibility.
Overall, KuCoin is a reliable altcoin exchange with features for beginners and advanced traders. The high ease of use and streamlined trading experience of the platform is superior to serious altcoin platforms such as ByBit, which are not beginner-friendly. The vast number of altcoins that can be easily purchased using a variety of methods will appeal to many crypto enthusiasts who are interested in building altcoin portfolios.
Read our full Kucoin review for more details.
7. MEXC - Best Altcoin Exchange for Selection of Assets
Why we picked it
While MEXC might not have the popularity of other exchanges we've mentioned on this list, the platform has quickly become a favorite of altcoin traders everywhere thanks to its massive selection of cryptocurrencies, high leverage, and extremely low trading fees. Throughout our search for the best altcoin exchange, we found MEXC to be criminally underrated compared to its performance.
Promotion:- Huge selection of assets.
- Zero trading fees on many pairs.
- Active platform with regular competitions.
- It could be daunting for beginners.
- High volume requirements for competitions.
One of the strongest aspects of MEXC is its impressive range of trading pairs. The exchange offers most major and minor assets in the crypto market, with only truly obscure projects missing. There are 1,643 unique cryptocurrencies available and 2045 spot markets. However, 302 derivative pairs are available, bringing the total number of tradable assets to 2,347.
Another factor contributing to MEXC's success in altcoin trading is its range of markets. In addition to the spot market, MEXC users can access USDT-M and Coin-M perpetual futures contracts with up to 200x leverage - one of the highest limits of any exchange we've reviewed. Additionally, MEXC offers leveraged ETFs letting traders speculate on long-term price movements without funding opening positions.
If you're looking to buy and sell altcoins on the spot market, MEXC is perhaps the most cost-effective option in the industry. Currently, the exchange charges absolutely zero spot trading fees. The story is similar regarding futures trading; maker orders are free, while taker orders cost just 0.01%. All in all, MEXC takes the top spot when it comes to trading fees.
MEXC offers a propriety trading interface and one provided by TradingView so traders can access a wide array of crypto indicators and analysis tools like trend lines and Fibonacci retracements. Additionally, MEXC has implemented a depth chart enabling you to understand which prices hold liquidity. Furthermore, the order book can be customized to show long/short orders, providing details of buyer sentiment.
A useful albeit fairly common feature offered by MEXC is copy trading. The system lets you find profitable traders by checking statistics like win rate, Return on Investment (ROI), and Profits and Losses (PNL). With thousands of traders, MEXC has one of the industry's most active copy trading platforms, making it easy to find suitable traders and earn larger sums from follower commissions.
Another way that MEXC incentivizes altcoin traders is through regular trading competitions. For every $75,000 worth of daily volume accumulated, MEXC gives you a chance to spin a wheel containing prizes ranging from $1 to $2,023. With a daily prize pool of $36,000, these competitions could be a valuable addition for active altcoin traders.
MEXC is one of the most underrated cryptocurrency exchanges operating today. With a feature list to rival Binance, native fiat-to-crypto support, one of the largest selections of altcoins on the market, and likely the lowest trading fees in the industry, MEXC is an excellent exchange for anyone wishing to trade altcoins, regardless of their experience or trading preferences.
To learn more, read our comprehensive MEXC review.
8. Phemex - Best No-KYC Trading Platform
Why we picked it
Despite being a lesser-known exchange than large centralized exchanges like Coinbase, Phemex has garnered the attention of altcoin derivatives traders thanks to its impressive range of perpetual pairs. The exchange also features a 'Mock Trading' mode, making it an excellent option for new traders looking to sharpen their skills before switching to real money trading without switching exchanges. Moreover, Phemex is a suitable crypto exchange without KYC for crypto-to-crypto trading (withdrawal restrictions apply).
Promotion:- Competitive trading fees.
- Zero-fee P2P marketplace for buying altcoins.
- Charting provided by TradingView.
- Smaller range of assets than competitors.
- Mock trading is lackluster.
Although Phemex claims to offer 366 cryptos for spot trading, we found only 226 spot trading pairs denominated in stablecoins, Bitcoin, and altcoins, which will be disappointing for altcoin traders looking for a wide selection of assets. However, 178 USDT-M, Coin-M, and USD-M derivatives trading pairs were available with 100x leverage, bringing the total quantity of tradable assets to 404.
Although the range of trading pairs Phemex offers can't quite compare to others on our list, its trading fees compare to some of the best crypto exchanges on the market. The fee for spot trading starts at 0.1%, with volume and balance-based discounts available. Regarding trading contracts, the fees start at 0.01% (maker) and 0.06% (taker), with further volume-based discounts available.
Like most crypto exchange platforms, Phemex has integrated charts provided by TradingView. As such, you'll always have access to analysis tools and key technical indicators, making it possible to utilize complex strategies. Additionally, a depth chart is available, which is useful for altcoin traders to understand where liquidity lies, which helps open and close large positions without slippage.
Unfortunately, Phemex does not directly support fiat currency deposits. However, you can use the no-fee Peer-to-Peer (P2P) Trading system to buy and sell crypto using 23 fiat currencies, including USD, AUD, and GBP. Local payment methods like Faster Payments are available in addition to e-Wallets like PayPal and Skrill. As such, the P2P marketplace is a great way for Phemex users to buy altcoins with fiat.
If you want to learn how to trade altcoins or improve your skills, Phemex offers Mock Trading. We tested out the service to help us find the best altcoin exchange and appreciated that it utilizes live price data and the same interface/tools as real money trading. Unfortunately, only perpetual trading is supported, and the tool is currently limited to four assets hindering its real-world usability.
Phemex is a good alternative to more popular altcoin exchanges like KuCoin and Kraken. However, although the fees are competitive and the trading interface is good, the lack of support for fiat deposits and comparatively limited number of tradable assets limit the platform's suitability to altcoin traders with existing crypto holdings looking to buy, sell, and speculate on a particular group of assets.
To learn more, read our complete Phemex review.
9. Crypto.com - Best App For Buying Altcoins
Why we picked it
Crypto.com is a hugely popular altcoin exchange best known for its premium mobile app, where all its products and services can be accessed. Its products and services are split between the Crypto.com App, the Crypto.com Exchange, and the Crypto.com DeFi Wallet. We found Crypto.com to be one of the better exchanges to trade altcoins, especially for those who prefer to do it using their mobile devices. The interactive UI and the lucrative interest rewards for holding altcoins make Crypto.com suitable for all types of users.
Promotion:- 247 altcoins to buy, trade, and sell.
- A world-class mobile app that provides access to all of the Crypto.com's altcoins features.
- Very reasonable trading fees on the App and Exchange
- Wide range of features including cashback card, staking, earning interest and NFTs.
- Holding CRO is needed to obtain the highest APY returns on altcoin staking.
- The mobile app does not support crypto-to-crypto trades.
Crypto.com App provides a modest selection of 247 altcoins. Whilst the number is not as exhaustive as Binance or Gate.io, most of the more popular altcoins like SOL, HEX, DOT, SHIB, AVAX, and MATIC are offered. However, Crypto.com may not be suitable for altcoins traders looking for more exotic coins. One of the significant advantages of Crypto.com is the ability for investors and traders to purchase altcoins at their true cost using a debit card, which is available to users in many countries.
As for fees, newcomers won't have to pay any trading or deposit fee during their first 30 days of trading. Afterward, there is a 2.99% to 3.99% fee to use fiat currencies to top up their Crypto.com account. When it comes to the exchange, Crypto.com follows a volume-based (the higher the monthly volume of a user, the lower their fees) trading fee starting from 0.075%, cheaper than Binance and KuCoin.
Crypto.com's most noteworthy feature is Crypto Earn, which allows investors to earn interest on their altcoins. Users can earn up to 6.5% APY on altcoins. However, to achieve the best APYs, users will need to stake CRO for at least 180 days which may be a high barrier to entry for some investors.
The use of altcoins on Crypto.com doesn't end with their trading or earning a passive income. One of the exchange's flagship products is the Crypto.com Visa to spend altcoins in-store or at online merchants that accept Visa. Over 30 altcoins, such as ETH, DOT, and DOGE, are supported. Settlements are near-instant, and there are no gas fees.
Read our full Crypto.com review.
10. Gate.io - Best Place To Trade Exotic Altcoins
Why we picked it
Gate.io is a global cryptocurrency exchange that is a good choice due to its range of innovative trading features and breadth of markets, but also for its list of supported altcoins which remains the largest in the world that can be bought and traded. This is the platform where serious traders will acquire exotic coins and tokens. With over 1,704 altcoins and 2,836 trading pairs, Gate.io surpasses Binance for the altcoin exchange with the most coins.
Promotion:- The largest asset list in the world, with over 1,700 altcoins and over 2,800 trading pairs.
- A multitude of ways to obtain altcoins with fiat currencies, including USD, CAD, EUR, and AUD.
- Great range of financial management products.
- High altcoin purchase fees for using the third-party payment providers.
- Lower trading liquidity compared to Binance, and Kraken.
Gate.io was initially a crypto-to-crypto trading platform that has since implemented a fiat gateway. Users can purchase altcoins using credit/debit cards, bank transfers, and the P2P marketplace. USD, AUD, EUR, GBP, JPY, and KRW are among the supported fiat currencies. To facilitate this service, Gate.io has partnered with third-party payment providers. However, the downside is that users will pay higher fees. A possibly cheaper option for users would be to purchase altcoins on a cheaper fiat-to-crypto exchange and transfer them across to Gate.io.
In addition to its higher-than-average fiat-to-crypto fees, Gate.io charges 0.2% for spot traders, double Binance’s rate. However, futures trading is more competitive, with fees starting at 0.015% (maker) and 0.05% (taker)
Altcoin trading on Gate.io can be performed in various markets, including spot, futures, margin, and ETF-leveraged tokens. For each market, Gate.io caters to newer and advanced traders by providing Standard and Advanced interfaces that include all trading tools, indicators, and charting patterns to analyze the cryptos.
- Spot: Solely used for crypto-to-crypto trading, users can use USDT to purchase altcoins. Limit, Iceberg, and Immediate or Cancel (IOC) orders can be placed on all orders.
- Margin: USDT can be used as collateral in long or short positions where a leverage ratio of between 3x and 10x can be applied.
- ETF Leveraged Tokens: USDT can be used as a principal to take short (3- or 5-) or long (3x or 5x) positions with altcoins such as ETH, DOT, SHIB, and LTC.
To further bolster its reputation as a predominantly altcoin-to-altcoin trading platform, Gate.io customers can use the Flash Swap feature to exchange one altcoin for another instantly. This service is free, and assets are directly transferred into the user's wallet.
Gate.io customers who hold altcoin portfolios can leverage the asset management of the platform to produce passive returns. Like financial management products other platforms offer, most services can be used in fixed-term or flexible arrangements.
Overall, Gate.io is not likely to be the obvious first choice for many altcoin investors and traders. However, its products and services that can be used for altcoin trading and portfolio building are robust. Moreover, the exchange has tried to make advanced features more palatable to beginners. Altcoin traders who are looking for specific exotic coins are likely to do so on Gate.io, which sports an altcoin trading list that is more than triple that of Binance.
To learn more, read our full Gate.io review.
11. Huobi - Best All-Round Altcoin Platform
Why we picked it
Huobi is a leading global cryptocurrency exchange that provides a secure and safe platform for investors and traders to buy, trade, sell, earn, and stake 609 altcoins. Huobi is a solid altcoin exchange to consider for non-US individuals with its vast list of supported coins and advanced trading markets. The exchange provides a highly secure environment and a streamlined user experience. However, the interest-earning and staking products are not as developed as other exchanges we found.
Promotion:- High number of altcoins and trading pairs.
- Low and competitive trading fees starting at 0.2%.
- Excellent security track record and 20,000 BTC contingency fund.
- Not available to US investors and traders.
- Trading fee discounts and rebates are confusing.
Huobi supports 57 fiat currencies to purchase altcoins, including USD, EUR, GBP, and AUD. Over 90 deposit methods are available, including AdvCash, cryptocurrency, SWIFT, wire transfer, and credit card. However, the available payment methods are dependent on the user's country.
Huobi is a serious altcoin trading platform that offers users a good variety of markets. Users can speculate on the price of altcoins using the spot exchange, margin exchange, futures, and USDT swaps, with a leverage of up to 125x. The vast altcoin list and innovative trading markets available on an advanced trading interface make Huobi one of the best margin platforms in the world. Moreover, the trading terminal and charts are integrated with TradingView, which offers hundreds of technical indicators and drawing tools.
Users who complete registration and ID verification can invest their crypto with Huobi Earn. Flexible and fixed-term arrangements are offered where interest rewards of up to 395% APY can be earned. An alternative way of generating passive altcoin rewards is through the Huobi staking module, where interest yields currently range between 0.5% APY and 20% APY. The number of altcoins that can be staked is quite limited, with only 17 supported, including NEAR, ATOM, AVAX, and TRX.
With spot trading fees of 0.2% for all altcoin-to-altcoin transactions, Huobi is competitive but not the cheapest altcoin trading platform available. However, high-volume traders will find the maker and taker fees of the exchange to be appealing. The fees of 0.02% and 0.05% for maker and taker orders, respectively, are highly competitive and translate into value for money. However, the fees on their website can be difficult to understand as many tiers are available.
Since its establishment, Huobi has been one of the safest altcoin exchanges and has not reported any security breaches that have resulted in the loss of user funds and digital assets. The platform implements industry-standard security measures such as the storage of assets in geographically isolated vaults that are protected by multi-layered procedures to guard against internal authority errors. For added peace of mind, Huobi possesses a reserve fund of 20,000 Bitcoin, which is intended to be used as customer compensation in the unlikely event of a security breach.
Read our Huobi review for more information.
Frequently Asked Questions
The best altcoin exchange is Binance due to its large selection of almost 400 coins and tokens to buy, trade and sell. The platform also boasts the highest trading volume and liquidity. Combined with trading fees of 0.1%, an advanced trading interface, and an excellent mobile app, Binance is second to none.
Coinbase is a user-friendly platform based in the USA that provides individuals access to over 250 popular altcoins such as EOS, ADA, TRX, and XMR. Coinbase's fees to purchase altcoins are competitive at 60bps (taker) / 40bps (maker), and there is a multitude of features for investors to get the best out of their portfolios, such as staking for passive rewards and a non-custodial wallet. Great alternatives include Binance.US and Kraken, which are also regulated in the US.
An altcoin exchange is a crypto trading platform that allows investors to trade, buy, sell, or invest in crypto assets other than Bitcoin. Altcoin exchanges are typically known for their large list of supported cryptocurrencies, various trading markets, and financial products. One of the best exchanges to purchase altcoins, such as Ethereum (ETH), Cardano (ADA), and Dogecoin (DOGE), is Binance.
With over 1,700 supported digital currencies and assets, Gate.io has the largest selection of altcoins available to investors and traders, closely followed by MEXC with 1,643. Gate.io's immense quantity of assets is more than quadruple the coins and tokens offered by Binance.
Conclusion
The best altcoin exchange will vary from person to person based on their requirements. However, the top exchanges tend to possess a wide range of altcoins, innovative ways to acquire and trade them and support products and services that enable investors to grow their portfolios passively.
Although each of the exchanges we've reviewed is good in its own right and could be considered the best altcoin exchange based on your preference, for investors and traders who want to include altcoins as part of their investment or trading strategies, Binance is our top-rated altcoin platform.
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