Altcoins or alternative coins can be defined as cryptocurrencies other than Bitcoin (BTC). Altcoins include tokens such as Ethereum (ETH), Monero (XMR), Cardano (ADA), Litecoin (LTC), Dogecoin (DOGE) and thousands of other cryptocurrencies. To buy, trade or sell altcoins, creating an account on a decent cryptocurrency exchange is required. However, scouring the web to find the best altcoin exchanges is indeed painstaking.
Fret not, we did the graft and created this guide of the best altcoin exchanges that will let you trade altcoin-bitcoin pairs to buy and sell altcoins using bitcoin, and exchange fiat to crypto for buying altcoins. Some of these altcoin exchanges offer pre-approved lending, financial derivatives, and interest-bearing accounts via staking. So, without further ado, let’s get started.
Table of Contents
10 of the Best Altcoin Exchanges 2022
1) Binance
With support for over 200 coins (including Bitcoin and native coin BNB) Binance offers a safe platform for trading altcoins. You can partake in margin trading, futures trading, and even earn interest on savings accounts.
The fee levied on most transactions is minimal at a flat rate of 0.1%. What’s more, Binance also offers a credit card brokerage service for buying and selling altcoins more conveniently albeit with incurring higher fees.
Binance deploys a system called SAFU (Secure Asset Fund for Users) for securing your altcoins. SAFU acts as an insurance for users if their funds are stolen. All in all, Binance is one of the best crypto exchanges for both beginners and institutional traders alike
2) eToro
Are you frequently investing in a melange of altcoins? Look no further than eToro which is a unique social media platform cum exchange where users can communicate trading tips and ideas with each other.
eToro is a formidable altcoin exchange for beginners who want to learn the ropes of altcoin trading and investment. Furthermore, eToro’s unique CopyTrader feature allows users to allocate a substantial part of their funds to mimic popular traders’ portfolios, and, thereby, increase their ROI on altcoins.
3) Kraken
Kraken is a renowned crypto platform known for its fast bank withdrawals and 24×7 support. Founded in 2011 as an exchange fro trading Bitcoins, Kraken charges low fees (0-0.36%, depending on the last 30 days trading volume) as an incentive for new crypto and altcoins enthusiasts to join them.
The rule is simple: Kraken lowers your fees as the more you trade. What’s more, it also offers a dedicated dark pool for discreet trading. All together, Kraken is one of the best altcoin exchanges for trading.
4) Crypto.com
With support for over 90 cryptocurrencies, Crypto.com is a formidable exchange where you can store and transfer altcoins. It also offers a native Visa Debit Card for spending your crypto anywhere with guaranteed 8% cashback.
Verification on the platform is super smooth, easy and it takes less than 5 minutes to open an account. Crypto.com also offers a dedicated DeFi wallet for storing your ERC-20 tokens among a melange of other crypto products.
5) Coinbase
Coinbase is one of the premier exchanges in the crypto realm that has been around for a long time. With support for over 40 different altcoins, users can also automatically convert their altcoin into another altcoin as Coinbase acts as a brokerage service by crediting their account with the correct tokens. Coinbase is one of the best altcoin exchanges with dedicated mobile apps for both Android and iOS devices.
Simply connect your bank account via credit/debit card or wire transfer to fund your Coinbase account and start trading in altcoins. What’s more, users can also directly send altcoins or even Bitcoin to their Coinbase wallet to fund their account.
6) Gemini
If you prefer using your mobile for trading or buying altcoins, then Gemini is worth its weight in gold. Available on both iOS and Android OS, Gemini enables users to manage their crypto on the go.
Gemini currently offers support for over 25 leading altcoins as well as bitcoin on its exchange. What’s more, users also get to avail an insured wallet for protecting their altcoin holdings against malicious cyber security breaches.
7) Bisq
A reputed decentralized crypto exchange platform for altcoins such as Monero, Ethereum and more, Bisq has its servers spanning across all the continents of the world. Which is why Bisq is very resistant to hacking attacks. Since Bisq is decentralized it is built with open-source code and is non custodial.
As well as bulletproof security, Bisq is an anonymous altcoin exchange. Hence, users don’t have to submit their ID proof or get KYC verification done in order to start trading their altcoins. All in all, Bisq is one of the best altcoin exchanges for those holding privacy coins such as Monero (XMR), etc.
8) Argent
Although not technically an exchange, Argen is a nifty Ethereum wallet where users can exchange altcoins directly on the mobile app. Being an Ethereum wallet, Argent is suitable for trading Ethereum-based tokens or DeFi linked ERC-20 tokens. For instance, users can dabble in tokens on Ethereum’s blockchain such as Uniswap, Binance Coin, ChainLink, and more.
With Argent at the helm, you can also interact with Decentralized applications or dApps built on the Ethereum blockchain. This way Argent’s helps you earn interest on your altcoin investments. Interest rates on dApps can give you around 50% in annual returns.
9) Bittrex
Bittrex is one of the best altcoin exchanges with an excellent track record of no security breach reported on their exchange since their inception in 2013. Available for altcoin traders worldwide, Bittrex charges a flat 0.25% trading fee for all cryptocurrencies listed on its platform.
What’s more, it also insures 80-90% of USD user funds in the unlikely event of loss or a security breach. However, users are allowed to only do USD deposits and withdrawals via wire transfer.
10) Coinmama
Rounding off our list is Coinmama, which is an altcoin brokerage service and not technically a cryptocurrency exchange per se. However, the usability of Coinmama is stellar and at par with some of the best altcoin exchanges on the market.
Users can buy up to 10 different altcoins directly from Coinmama for superfast and secure transactions. While the exchange rate is pretty competitive, Coinmama also offers good customer support especially if you are from Europe.