Looking for an account with a reputable altcoin exchange? Do you want to purchase cryptocurrencies other than Bitcoin?
Your chosen exchange should not just support the altcoins you choose, but it should also provide reasonable costs and a secure environment for trading.
Through this blog, we will focus on the 8 best exchanges for altcoins you can use to buy and trade altcoins in 2022.
List of the Best Altcoin Exchanges This Year
- Binance US
Now let’s take a closer look at the best features of each of the best exchanges for altcoins in 2022.
1. Coinbase: Most Beginner-Friendly Altcoin Exchange
Coinbase is the finest platform for novices. You can open an account online without any prior knowledge about crypto, thanks to their unique “earn while you learn” incentive system and educational content designed to facilitate knowledge. The program provides easy-to-understand video clips on the cryptocurrency of your choice, lets you participate in a quiz, and earn about $3 to $6 of crypto.
To safeguard the funds of its customers, Coinbase employs cold wallet storage plus cryptocurrency insurance. The site advises making a $50 minimum deposit, and the trading commissions are reasonable at up to 0.6 percent.
- Beginner friendly
- Support for debit or credit cards as well as Paypal
- Wide range of altcoins
- Reliable security features
2. Kraken: Best Altcoin Exchange with User-Friendly Interface
If you’re looking for a user-friendly option for altcoin exchange, you should check out Kraken. In addition to working with a large number of fiat currencies including the Euro, Yen, USD, AUD, and CAD, it also supports over 50+ different cryptocurrencies.
The basic Kraken trading costs range from 0.02% to 0.26%, based on the kind and quantity of cryptocurrency you wish to exchange.
- Reliable and secured exchange
- High trading volume
- Multiple funding options available like ACH and wire transfer
- Available globally
3. Gemini: Most Robust Altcoin Exchange
Gemini is one of the few cryptocurrency exchanges that can accommodate both beginners and experienced investors.
The standard trading platform for Gemini is simple to use and offers a lot of features for the majority of investors to purchase and sell cryptocurrencies. The exchange also provides Gemini ActiveTrader, a powerful cryptocurrency trading tool geared for seasoned investors.
However, for individuals who don't use Gemini's ActiveTrader interface, its fee structure is its biggest pitfall. Fees for orders up to $200 vary from $0.99 to $2.99 on the online exchange and mobile application. A charge of 1.49% applies to orders exceeding $200.
That's significantly more costly than many cryptocurrency exchanges since some just charge 0.5% or less in trading costs.
Many cryptocurrency exchanges, especially those that pay interest on cryptocurrency deposits, are unable to provide their services in every U.S. state. However, Gemini can operate throughout the nation because of its dedication to compliance.
- A great choice for both beginners and professionals
- Mobile application support
- Earn interest on your bitcoin holdings
- Accessible in all US states
4. eToro: Best Overall Altcoin Exchange
Look no further than eToro for the finest cryptocurrency exchange overall and the best crypto margin trading exchange currently available. Numerous altcoins can be purchased and sold on this platform, and you can get started with a minimum deposit amount of only $10. It is one of the safest and top Coinbase alternatives. Additionally, there are hardly any costs at all, especially when funding your account.
Because the platform is well-designed and the purchasing process is made simple, those who are new to cryptocurrencies will also find eToro to be user-friendly.
Given that, it allows you to mimic the strategies of the top altcoin traders worldwide, this is a fantastic tool for new users and those wishing to gain experience. There are 27 cryptocurrencies available for trade in the US, and eToro provides you with the ability to diversify your portfolio with several different asset classes.
- Trading dozens of cryptocurrencies
- Only a $10 minimum deposit
- Governed by several top-tier organizations
- Accepts payments via PayPal and credit/debit cards
- Easy-to-use trading app
- Low prices
5. Bitstamp: Altcoin Exchange with a Range of Crypto Products
If you're looking for an altcoin exchange that provides a range of crypto products and services, like a highly rated mobile trading app, instant purchases, staking rewards, an advanced platform, and an OTC desk, then Bitstamp is a great choice to pick. Additionally, Bitstamp's free Crypto Pulse report offers information on market insights and worldwide trends.
Trading Bitstamp's 75 cryptocurrencies should be a smooth experience because of the platform's strong liquidity and industry-leading uptime, which assure reliable order execution.
There is enough to delight seasoned traders, who can implement algorithmic methods using a variety of potent APIs from Bitstamp. Real-time data streaming, analytical tools, and advanced order kinds are also available.
Not only that, they’ve also recently launched Bitstamp-as-a-service for institutions like banks, payment platforms, and fintech in the US. With this, they are now able to introduce their clients to cryptocurrency, increasing their exposure to Bitcoin and other digital assets. Institutions can also adapt operational services provided by Bitstamp based on their own needs.
- Reliable phone and email support
- Intuitive interface
- High-level security
- Advanced trading features
- Mobile application available
6. FTX.US: Best Altcoin Exchange with Advanced Features and Low Fees
One of the biggest cryptocurrency exchanges in the world has a platform in the United States called FTX.US. It's fantastic for aggressive traders because it has reasonable trading commissions. You may maintain all of your assets in one spot because it also provides a superb range of NFTs and equities.
Every altcoin exchange should prioritize security, and FTX.US has exceeded the expectations of its users. It has a specially designed hot and cold wallet for holding client cryptocurrency money, a complete external backup of all hot wallet assets, and connections with top custodians in the market. Users of the exchange can utilize two-factor authentication (2FA) to secure their accounts while logging in and making withdrawals.
FTX.US offers an NFT marketplace that includes digital art, sports highlights, and also virtual worlds in the metaverse. Apart from purchasing and selling NFTs on the FTX.US platform, you can also mint and sell your own NFTs.
- Outstanding security
- Low fees
- NFT marketplace
- Advanced orders
7. Crypto.com: Altcoin Exchange for Expert Traders
Another popular altcoin exchange Crypto.com offers services including trading, investment, staking, wallets, NFTs, and more. For individuals who have a sizable investment in Crypto.com Coin (CRO), this exchange provides discounts, 250+ different currencies, and affordable fees. On the other hand, for individuals wanting to accomplish a lot with their bitcoin, it could be a suitable option due to its ecosystem of cryptocurrency-related offers like crypto wallets, NFTs, and also credit cards.
As for the Android and iOS versions, Crypto.com's mobile app serves as the platform's main center. You may browse your portfolio and a selection of popular assets using the app.
- Wide range of cryptocurrency
- A wide range of services at low fee rates
- Several fiat currencies supported
8. Binance US: Best Altcoin Exchange for Low Fees
Binance US, a spinoff of Binance global that complies with American financial rules, is a crypto exchange that serves the U.S. market. This exchange provides a discount of 0.25% for big volume traders who own BNC, and some of the lowest trading fees. The trading fee at Binance US ranges between 0% and 0.01%. The platform also offers instant buy fees of 0.50%.
While Binance is one of the best altcoin exchanges in the world with a selection of hundreds of trading coins, its US counterpart has less crypto listed. They offer just over 60 cryptocurrencies which, unfortunately, aren't accessible to users in Hawaii, New York, Vermont, Texas, and Idaho. Regardless, Binance U.S users have. Users have the option to purchase, sell, and trade well-known assets like:
Apart from popular coins, it also offers less popular coins like Orchid (OXT) and VeChain (VET).
Despite its drawbacks, Binance US’s trading tools, reasonably priced fee structure, and useful training materials can make it an excellent choice for crypto traders.
- Offers low fee compared to competitors
- Maker/taker fees: 0% to 0.1%
- Instant buy fees: 0.50%
- Educational resources available
- Discounts for BNB holders
Bottomline: Choosing the Best Altcoin Exchange
If you’re on the hunt for the best altcoin exchange, the following elements should be considered:
- Altcoin variety: If there are particular cryptocurrencies you're interested in, it's critical to confirm if the potential platform offers them.
- Geographical availability: A brokerage or altcoin exchange that is inaccessible in your nation is of no use to you. Therefore, it is a good practice to visit the altcoin exchange website and choose before you register.
- Security: One of the most crucial factors to take into account when selecting an altcoin exchange is the safety of your assets; you don't want to run the possibility that you'll lose your cryptocurrency to a hack. Look for a platform with security features like encryption and 2FA to protect access to your account.
- Payment features: The majority of sites allow bank transfers or credit card deposits. If you want to use a less widespread payment method, your options for platforms may be limited.
Once all of these are taken care of, you can easily select the best altcoin exchange that checks all the boxes of your choice.