Altcoins, otherwise known as alternative coins, include any other cryptocurrency aside from Bitcoin.
In fact, some of the most popular cryptocurrency tokens such as Ethereum, Dogecoin, Uniswap, and others are all altcoins.
There are currently thousands of altcoins available. That being said, most cryptocurrency exchanges are limited in terms of altcoin availability.
This is mainly due to the fact that they are not as supported as Bitcoin, for example.
Today, we will be diving deep and exploring the world of the best altcoin exchanges so you can start trading altcoins easily and avoid being limited to just a handful of tokens to choose from.
Quick Summary for Fast-Readers
- Altcoins are any other cryptocurrency tokens other than Bitcoin.
- Every trader has their own reasons why they might choose one cryptocurrency exchange over another.
- Binance has the most variety when it comes to altcoins.
- DXOne offers a unique fee structure which gives you a 50% discount if you hold its native DX1U token.
- The best altcoin exchanges are Binance, Kraken, KuCoin, DXOne and Huobi.
- The best altcoin exchanges will offer you crypto portfolio tools, a competitive fee structure, a high trading volume, and pre-established security and regulations.
The Top 5 Crypto Altcoin Exchanges
The top crypto altcoin exchanges will provide you with the ability to buy, sell or trade a multitude of altcoins.
Even specific exchanges take the extra step or go the extra distance to consistently update their lineup of altcoins. Out of all the exchanges out there, these five specifically stand out due to their varied access to altcoins.
Based on where you are in the world, there are two ways through which you can access Binance. The first is Binance.com, and the other is Binance.us if you live in the United States. That being said, the global exchange offers a wide range of altcoins that are available to any user, with new ones being constantly pushed to the exchange.
Binance was founded in 2017, and since then, it has become the biggest trading platform when it comes to cryptocurrencies. It features mobile trading applications for iOS and Android, and most importantly, it gives you access to over 100 altcoins to trade. There are multiple trading pairs against fiat, altcoins, and stablecoins, and it features the most competitive trading fee at 0.1% and a deposit, trading, and withdrawal fee.
Kraken was one of the older cryptocurrency exchanges on this list, being founded in 2011. It offers quick bank withdrawals, as well as low fees.
Additionally, it offers a high level of customer support. Kraken also has a solid reputation due to the various educational content available on the exchange when it comes to learning about each and every altcoin out there, and has relatively low transaction fees.
When it comes to altcoin access, it offers over 80 cryptocurrency tokens through which you can choose from and trade; however, some of them have geographical limitations in terms of where they can be traded.
Another notable feature around Kraken is the fact that it features a dark pool for discreet trading, which has been the main point of appeal for more privacy-centric traders. Kraken’s instant buy feature has a 0.9% fee for any stablecoins as well as a 1.5% fee for any crypto or FX pair. This changes when you use Kraken Pro, where it starts at 0.16% for maker fees and 0.26% for taker fees.
KuCoin is a well-established exchange that launched in 2017. It has risen in popularity and became a premium platform for exchanging cryptocurrencies, where over time, it has amassed quite the offering, with over 100 different trading pairs to pick from.
Other notable features of the exchange include the ability to buy crypto with multiple FIAT currencies, excellent customer support service, a high level of security, and non-custodial trading.
DXOne is one of the newer exchanges on this list which launched in 2020; however, do not let the young age fool you; it is one of the best exchanges in terms of the trading tools it offers.
You have Easy Trading, which is tailored towards newcomers and allows them to swap tokens through a simple user interface. Then you have the original trading UI, which lives up to the advanced-user standard when it comes to trading requirements. DXOne offers a wide range of altcoins that you can trade, and the fees are based on your trading volume, starting from a 0.4% taker fee to a 0.4% maker fee.
Additionally, users get 50% discounts when they hold DX1U tokens, which are the native utility tokens you will find on the DXOne exchange. With this and its revenue share model, you can earn passive income from the trading fees generated on the exchange, which makes it one of the go-to locations for altcoins.
Huobi has operated since 2013 and supports a wide range of cryptocurrency altcoins as well as trading pairs. Additionally, it offers an advanced trading platform with TradingView Charts as well as tools. When it comes to the trading fees, they are competitive at 0.2% maker fees and 0.2% taker fees. There are also OTC trading options for institutions, and you have the Huobi Pool, which lets you earn coins by locking in voting and mining.
Huobi offers a decent selection of altcoins and has numerous features, making it an appealing option for many traders.
Which Crypto exchange has the most Altcoins?
The cryptocurrency exchange that has the highest number of altcoins and trading pairs available on it is Binance. You can find a complete list of all of the newly added altcoins at any time. Binance even has built-in features that support newly developed projects and altcoins through investments from their traders in the form of the Binance Launchpad program.
Crypto Exchange with the best Fee Structure for Altcoin Trading
DXOne has one of the best fee structures when it comes to trading altcoins. This is because DX1U utility token holders get a 50% discount on the default fee structure. Furthermore, when a user increases their trading volume on a monthly basis, as their volume increases, so will the fees reduce, as you can see in our review of DXOne.
Additionally, the exchange aims to bring analytics, news, real-time market information, and much more to its users. Its two-token model is also interesting, as it takes advantage of two tokens. The DX1S token is an investment vehicle that allows users to participate in the unique revenue-sharing model of the exchange, while the DX1U utility token allows users to claim discounts.
Where should you buy altcoins? Watch out for these factors!
When it boils down to it, everyone has their own reasons as to which exchange they will end up choosing. That being said, it is recommended that you take into consideration the following factors so that you can make educated and fact-based decisions about which one you end up choosing.
You need to ensure that the exchange in question can offer you software that manages your inventory of online cryptocurrency investments and helps you track each coin’s performance while giving you access to multiple analytical tools.
Ideally, you want to pick an altcoin exchange that has low fees to begin with. Additionally, you can find an exchange which has an adaptive fee structure that lowers them based on your 30-day trading volume, so the more you trade, the lower your fees become as a result.
You need to ensure that the cryptocurrency exchange in question is popular and has a high trading volume. This will ultimately define the availability of the altcoins as well as your ability to sell them efficiently on the exchange.
Security and Regulations
There are many cryptocurrency exchanges out there, and since you will literally be storing your cryptocurrency tokens on the platform, you need to ensure that it has a high level of security. Make sure that you look out for two-factor authentication (2FA), biometric identification, and other security measurements.
The best cryptocurrency exchanges will store the bulk of your cryptocurrency portfolio in cold storage. Some will even go the extra distance of providing you with insurance. Keep in mind that it is also recommended that you pick a fully licensed and regulated exchange for the highest level of security.
However, these require you to complete a know-your-customer (KYC) procedure, so you will need to submit some documentation to use the exchange in question.
There are thousands of altcoins out there. There seem to be new ones popping up in the market consistently, as more and more companies and developers are taking advantage of blockchain technology and offering numerous solutions to specific issues.
That being the case, you want to pick an altcoin exchange that will provide you with access to as many of them as possible, however, one which has a competitive fee structure and a solid level of security and regulation.