There are many platforms or brokers where you can trade altcoins but we will try to focus on the best on them and also we will try to find out the best platform or broker, so let’s start. Click here to jump to our comparison tables right away.
Criteria for each platform will be the following:
- Exchange rate
- Payment methods
- How long does it take a new user to receive his coins.
- Supported countries
Best brokers to trade altcoins
It’s a platform based and fully regulated in the USA supporting both new and established cryptocurrencies (190+). Is a fairly popular American crypto exchange founded in 2014.
- Supported languages: English
- Verification: present, but not necessary (necessary for withdrawing amounts over $ 50,000 USD per day)
- Availability API, 2FA: present.
According to statistics provided by the coinhills service, in terms of turnover of crypto currency, at the moment this exchange is on the 2nd place. It is liquid, the interface is friendly with high quality, everything works quite smoothly, without bugs and any slowdowns, etc. The most popular crypto-currencies and their trading volumes on the Bittrex exchange (according to the data of the coinmarketcap service, for August 18, 2017) are Bitcoin, Ethereum and Bitcoin Cash.
In general, the Bittrex exchange makes a pleasant impression and its made professionally. Interface is “user friendly” (easy to learn, intuitive), everything switches perfectly and is customizable.
Its American currency exchange that was founded not so long ago – in 2014, but has already managed to gain considerable popularity.
- Supported languages: English only
- Average number of users per day: over 6000
- Referral program: none
- Verification: is present, but is optional (if the daily trading volume does not exceed $ 2000)
- 4 types of market: BTC ETH XMR USDT (USDT is a digital token USD on the blockroom)
According to the daily trading volume for forks, the Poloniex exchange is one of the top exchanges.
According to statistics provided by the coinhills service, in terms of turnover of crypto currency, at the moment this exchange is on the 5th place.
Advantages of the poloniex exchange
Among them we can distinguish, in the first place:
– very convenient, friendly interface, excellent navigation, sorting of tokens (by: price, volume, price change, alphabet), quick search, “night view” function, etc.)
– rich functionality (in particular, there is the possibility of margin trading, with a 2.5x leverage, the ability to provide and receive loans, etc.)
– a huge variety of very different, relatively highly liquid altcoins (90+)
– good liquidity
– Availability of API, 2FA
– a low commission for transactions (from 0.15% to 0.25%, depending on the volume of your trades over the last 30 days the commission (for creating orders from 0.15% to 0%, depending on the volume of trading for the last 30 days, and for closing someone’s Orders from 0.25% to 0.05% also depending on the volume of trading for the last 30 days)
– convenient, well-scaled graphics, with different timeframes
– technical analysis tools: Fibonacci levels, moving averages (SMA, EMA), Bollinger Band (Bollinger Band)
– low commission for withdrawal
Interaction with the interface of the poloniex exchange leaves only the best impressions. In addition, undeniable advantages are good liquidity and a large selection of forks. The Lending function will not leave indifferent supporters of small but stable passive income.
Best places to trade CFDs on Coins.
Plus500 is a company providing online trading services to retail customers. The company was founded in 2008 and provides trading in CFDs on a range of financial markets, Plus500 is listed on the Alternative Investment Market of the London Stock Exchange. Plus500UK Ltd is authorised and regulated by the Financial Conduct Authority (FRN 509909).
This broker offers the possibility to trade CFD on Bitcoin and Litecoin and improves the performance of its CFDs for this. It offers the possibility of trading with leverage (the actual leverage may change over time).
Plus500 is the first broker, which began to apply leverage in trading operations with crypto-currencies. Right now Plus500 offers 10 cryptocurrencies to trade with and in the future, there is the possibility of expanding the list of digital currencies.
eToro is a social trading and multi asset brokerage company that has registered offices in Cyprus, Israel and the United Kingdom. In 2010, eToro released the eToro OpenBook social investment platform, along with its “Copy-Trading” feature. The eToro OpenBook enables investors to view, follow and copy the network’s top traders automatically.
The eToro platform provides an opportunity to view investment portfolios, a news feed of users and study the main indicators of their activity in the financial markets, which helps to better understand the essence of investment strategies implemented by traders.
To invest in ETH, eToro does not require an electronic wallet for digital currency, since it is not a basic asset that trades on the platform, but a “price difference contract” (CFD). Thus, platform users trade derivative financial instruments corresponding to the price of Ethereum, without actually owning this crypto currency.
It is noteworthy that CFD-contracts for the price of crypto-currency bitcoins appeared on eToro platform in 2014.
Coinbase is probably the most popular company today for buying Bitcoins. It was founded in late 2012 as a part of Y-Combinator and until today has raised more than $106 million in venture capital. Coinbase is considered by many the leading Bitcoin exchange available.
The are two ways you can buy Bitcoins from Coinbase. One is through the Coinbase wallet and the other is through the Coinbase exchange. When you buy Bitcoins through the Coinbase wallet you are basically buying the Bitcoins from Coinbase itself, whereas when you use the exchange you are participating in a trading with other users of the exchange.
Pros: Highly respected and good reputation, low transaction fees
Cons: Not available worldwide, Support takes time to respond
Another Bitcoin exchange veteran, Kraken was also founded in 2011 like Bitstamp and managed to stay alive until today. Kraken is consistently rated as a top Bitcoin exchange by different news outlets and was also the first Bitcoin exchange listed on Bloomberg terminals. Kraken is also trusted by hundreds of the Tokyo government and the BaFin regulated Fidor Bank.
Kraken is pretty similar to Bitstamp in its pros and cons and are almost identical when coming to decide which on of them to use.
Pros: Highly respected and reliable exchange, low transaction fees.
Cons: Not suited for beginners, limited payment methods, high deposit fees on small amounts of money.
Company seems to have a solid user interface making it pretty easy to buy Bitcoins. Also the platform seems to be very “newbie oriented” and puts an emphasis on security.
Although HitBTC gained considerable traction over the past year since its launch, much like iGot it still hasn’t managed to reach the “big leagues” of Bitcoin exchange (i.e. Coinbase, Circle, Bitstamp etc.)
Pros: Beginner friendly, great buying experience.
Cons: High exchange rate, brand not reputable enough.
247Exchange is a veteran player in the Bitcoin ecosystem which allows you to buy Bitcoins with a credit card in a simple and secure manner. Unfortunately, their buying process still has a few glitches and the verification process can take quite some time.
Pros: Easy user interface, works worldwide and multilingual.
Cons: Buying process is too long (mainly due to verification), the service takes a premium in order to be able to deal with chargeback issues.
Best platforms to trade altcoins:
In my opinion, based on all above, the best trading platforms for now in 2018 for trading altcoins are POLONIEX and BITREX because the amount of liquidity that exist, reputation and security that they give to users. It’s hard to imagine trading altcoins without them.