There are many crypto exchanges online, but not all of them are good for buying Bitcoin and Altcoins.
You might’ve made a nice list of Altcoins (Alternate Cryptocurrencies) to invest in, but the problem that is still giving you headache is finding the best crypto exchange for buying, or swapping Bitcoin for these Altcoins.
Haven’t you seen the best Altcoins crypto exchange?
Are you still having doubts on the list of best cryptocurrency exchanges for buying Altcoins you’ve seen online?
Don’t fridge anymore, as I’ve got you the list of most tested and trusted Altcoin crypto exchanges to buy any amount of different kind of cryptocurrencies you desire.
Before you start questioning how sure I am over these cryptocurrency exchanges you’re going to see below, I would like you to know that I’ve used them myself to buy or sell different coins online (including some new penny cryptos).
What is a crypto exchange?
A cryptocurrency exchange is similar to a stock, or fiat currency exchange. It’s a cryptocurrency exchange, provides a technical system for the purchase, or trade of Bitcoin and Altcoins.
The user can buy, sell or trade cryptocurrencies on these financial exchanges which are also referred to as digital currency exchanges (DCEs). Like other financial exchanges, the investor can make a limit order or market order.
The brokerage process at the best altcoin exchange sites works just as it does for other financial assets with the exchange fostering transaction and collecting transaction fees.
Types of cryptocurrency exchanges
There are two main types of cryptocurrency exchanges that exist online, and they are:
- Fiat-to-Crypto exchanges
- Crypto-to-Crypto exchanges.
A fiat exchange lets the investor purchase, trade or sell an Altcoin cryptocurrency using a government-backed currency, also called fiat currency which include the US Dollar, Mexican Peso, Japanese Yen, Nigerian Naira etc.
A cryptocurrency-to-cryptocurrency exchange lets the investor purchase, trade or sell a cryptocurrency using other cryptocurrencies, and this include purchasing Ether with Bitcoin, or any other crypto coin.
This type of exchange is also referred to as an altcoin crypto exchange.
Further differences exist. Investors have three types of platforms from which to choose for making cryptocurrency investments:
- Traditional crypto exchanges
- Cryptocurrency brokers
- Direct trading platforms
A traditional exchange lets investors buy, sell and trade according to the prevailing market price. Like the New York Stock Exchange or the Tokyo Stock Exchange, but for cryptocurrency, these exchanges act as a middleman for a transaction between a buyer and a seller.
A cryptocurrency broker still facilitates a purchase, but the broker determines the price. It usually uses the prevailing market price but adds a fee.
The direct crypto trading platform enables peer-to-peer trading. Think of it as the Napster for cryptocurrencies.
Any of these three type of exchanges may allow fiat purchases.
Purchasing platforms that allow purchases with fiat may allow you to do so using by linking your bank account, credit card or by loading cash into a digital wallet by some other means.
When you make your very first purchase of cryptocurrency, you’ll have to use an cryptocurrency exchange that accepts fiat currency because you will not yet own any other cryptocurrency.
After that, you can move to using an exchange that accepts cryptocurrencies. The best cryptocurrency exchange provides the type of platform you need and the type of trades you need.
It might be one of the top cryptocurrency exchanges, or it could be a small altcoin exchange in your home country.
Shall we get going already?
Let’s get there now!
What is the best Bitcoin and Altcoin exchange?
Finding the best exchange for doing cryptocurrency investment requires some research, and not just a listing out best cryptocurrency Altcoin and Bitcoin exchanges.
Although there are copious amounts of brokerages and exchanges, not all of them serve all locations. They also vary by the kinds of cryptocurrencies they offer.
Below are my list of the best exchanges for buying Alternate cryptocurrency with extensive reviews, so you can study them, without visiting each to determine which is the best cryptocurrency exchange for you.
1. Binance – Most reliable crypto exchange overall
Binance is a rapidly growing exchange registered in Malta, and concluded its Initial Coin Offering on 21st July 2017, which raised up-to 15,000,000 USD.
Since ICO till date, the platform has grown tremendously and is now placed in the world top 10 cryptocurrency exchanges. It has more than 190 Altcoins listed on it, which are only increasing as the days are passing.
Binance being a centralized exchange has taken a unique take to expand its business and also provides a decent discount for day traders if they use BNB (Binance Coin), which is the native currency of this platform.
It has a global exchange with the highest liquidity, and also ideal for everyone. Users from USA has an exclusively dedication division of the platform, where they can sign-up, while Singapore users can signup for Binance Singapore.
To start with they have 0.1% standard trading fee which is already quite less than other peers. You can even reduce your fee further if you pay your trading fee in BNB according to the below-shown structure.
To get started with Binance you need to register using your email ID, and the process is quite simple & fast. Binance is one of the few exchanges that offers mobile app for iOS and Android.
Recommended read: Detailed review on Binance crypto exchange and how it works
Being using it for a while, I find it too easy to trade cryptocurrency while on the move. To learn how to use its mobile app, watch the YouTube video below…
They also have aggressive plans like multi-lingual support, mobile apps for both iOS and Android users, Binance lending program, and the Community Coin Per Month, etc for more adoption of their platform.
2. CoinSwitch – The best crypto exchange aggregator
CoinSwitch is a very rare cryptocurrency exchange rate aggregator that was established in India by the year 2017.
The exchange site is a platform that enables its users to have access to over 300 cryptocurrencies, which trade with up-to 45,000 crypto trading pairs.
It integrates a good number of world-leading exchanges which allows for very fast cryptocurrency arbitrage trades. This helps most people to make profits by simply buying and selling on different exchanges.
Like other platforms such as; Changelly and ShapeShift, CoinSwitch can easily convert any cryptocurrency into, but what differentiates it from other exchange platforms is that you get to find all the cryptocurrency prices in one place at a time.
You should read: CoinSwitch completely detailed review and how it works
This crypto oriented platform can save your time by simply comparing cryptocurrency price value rate of pairs across other popular exchanges automatically.
CoinSwitch partnered with simplex to enable credit card deposit, which wasn’t available then, it was only cryptocurrencies that people could use to buy other Altcoins before they finally enabled credit/debit card transaction.
3. Changelly – Best and easiest crypto exchange
Changelly offers a service that is still rarely new in the crypto space: fast and anonymous crypto-to-crypto transfers with no third party holding.
The platform is not designed for investing or trading, but rather as a fast, discreet and efficient means for swapping the coins in your private wallets.
Changelly works by offering you competitive exchange rates for a large range of coins and then making the transfer directly between your own private wallet.
For this service, they charge a higher fee than most trading and investing exchanges, but not excessively though. The premium paid is for the anonymity and simplicity compared to a more traditional crypto-to-crypto exchange.
Changelly does also allow fiat-to-crypto exchanges, but these have notoriously high and opaque fees, and this service is not widely used.
4. PrimeXBT – Next-Generation exchange
PrimeXBT is a fiat-to-crypto exchange that offers cutting-edge trading tools, extremely high leverage and pooled liquidity from other cryptocurrency exchanges.
This combination of features makes Prime XBT a top pick exchange among advanced traders looking to capitalize on short term price movements in the top 5 coins.
Must read: PrimeXBT review with its pros and cons
Once you register an account on Prime XBT, you can directly fund it with Bitcoin, or indirectly funded through Changelly using either fiat currency, or other coins.
Prime XBT offers by far the lowest trading fees in the industry, as well as the highest liquidity by drawing on the trading volumes from the top 12 existing exchanges.
Prime XBT also has an extremely advanced interface, the ability to short crypto/fiat pairs and up to 100 times leverage, which is far more than the 2 to 3 times leverage offered by even the most competitive trading platforms.
5. Coinbase – Best moderate crypto exchange
If you have been involved in the world of cryptocurrency for a long time, then there is a good chance you’ve heard of Coinbase.
Created in 2011 and located in San Francisco, Coinbase has one of the largest trading volumes for Bitcoin. However, they also allow you to buy and sell three Altcoins, which are Litecoin (LTC), Ethereum (ETH) and Bitcoin Cash (BCH), including few other tokens.
The platform is really easy to use, which makes it perfect for beginners. Not only this, but they have excellent customer service, which includes phone support!
One of the main reasons that people love Coinbase is because, they allow you to deposit using a debit/credit card, or even buy any coin with bank account.
Before you get started with fiat money, you will need to verify your identity. This is straightforward, as all you need to do is provide a few personal details and then upload a government-issued ID (such as your passport).
Security is also very good, Coinbase holds 98% of customer funds in cold storage, and you also have the option of setting up two-factor authentication.
Note: Cold storage is when cryptocurrencies are held offline, with no connection to the internet. This makes them extremely secure and almost impossible for criminals to steal them.
One of the main disadvantages of using Coinbase is that it is only available in selected countries like; Australia, Canada, Singapore, United States, and mostly European Union countries.
Using a debit or credit card to deposit is also quite expensive at just under 4%, however, this is normal when using this payment method. Trading fees are also very good, with Coinbase charging just above the current market rate!
6. KuCoin – One of the top Altcoin exchanges
KuCoin is another easy and hassle-free cryptocurrency exchange. KuCoin offers many popular and unique coin such as DragonChain, $KCS, and many others. Just like Binance, they offer a fully functional mobile app for Android and iOS.
To get started with KuCoin, you can deposit any crypto of your choice. Example, deposit BTC and start trading. Personally, I have been using KuCoin for the past 2 years and they have been constantly adding new features gradually.
Let us looking into some of the frequently asked questions online…
Which crypto exchanges has the lowest fees?
Are there any regulated cryptocurrency exchange?
There are few Bitcoin and Altcoin cryptocurrency exchanges that are regulated. For example, Binance and Coinbase are regulated.
Final thoughts on Bitcoin and Altcoin exchanges
There is no one final ‘best Altcoin exchange’, but if you do some kinds of research (which I have done for you already to make up this list), you will find a good number of top cryptocurrency exchanges online.
The best cryptocurrency Altcoin exchange varies depending on where you live, what cryptocurrencies you want to trade, frequency and if you’re a beginner, or advanced as one of the earliest crypto traders.
In the US, Coinbase and Coinbase Pro probably makes the most sense for most investors. In Nigeria, Luno probably makes up for the best choice.
However, your location decides which exchanges you can use, but I strongly recommend using Binance cryptocurrency exchange to buy most of your desired Altcoins as they carter for any location worldwide.
Binance has the best price rate when it comes to buying cryptocurrencies directly through your bank accounts and otherwise. They also have separate exchange designed for people living in the United States of America.
If you are in possession of Binance coin (BNB) in the exchange crypto wallet, you can drastically reduce the buying and withdrawal fees charged on your crypto coin purchases and trading on the platform.
Hopefully, this guide to the top Altcoin cryptocurrency exchanges helped much more than a simple list of crypto exchanges for buying cheap cryptocurrencies.