7 BEST ALTCOIN TRADING PLATFORM FOR ALTCOIN TRADING

Altcoin trading is a whole new branch of trading and has been attracting as many traders and investors as gold, penny stocks or real estate, if not more. Well, the numbers certainly are.

The first major step is to find suitable, secure, and the best altcoin trading platform for convenient and profitable altcoin trading.

For the last 2 years, or so, cryptocurrencies (especially Bitcoin) have been a focal topic in the financial market. Cryptocurrency as an investment option seems to be rising exponentially. So is the demand for best altcoin trading platforms where investment can be made.

Last Year, from late November 2017 to February 2018, the Bitcoin price got surged more than 3000%. Its then people realized investing in altcoins rather than Bitcoin.

This led to an increasing market cap of altcoins. Especially major cryptocurrencies like Ethereum, Litecoin, Binance coin, Ripple, Bitcoin cash, Cardano, Lumen, NEO, etc.

The market is currently flooded with altcoins. You can find 1500 altcoins lists actively trading on our platform. Many of these cryptocurrency prices are far less than Bitcoin, making them more accessible to investors without a significant amount of initial capital to spend.

A large number of altcoin and volatility in their price has open a whole new branch of trading called crypto trading. It is similar to forex trading with fewer technicalities.

In fact, it depends on the basic trading rule “buy low and sells high”.

Altcoin trading can be short-term or long-term trading. Short term altcoin trading is like short-selling any investment product — if done smartly, it can yield significant rewards quickly.

In order to start altcoin trading, a trader should possess cryptocurrency

“whether a trader buys the cryptocurrency directly through a cryptocurrency exchange or transfer from the Altcoin wallet to the altcoin trading platform”

While Bitcoin trading against fiat money is available on numerous bitcoin exchange. 

Altcoin trading is a niche in which only a few platforms are specialized and their features differ a lot compared to a regular Bitcoin exchange

THE FUNDAMENTAL REQUIREMENTS TO BE ON THE LIST OF BEST ALTCOIN TRADING PLATFORM

1. REPUTATION AND BACKGROUND:

Reputation and Credibility is the first thing that you must consider before selecting a cryptocurrency trading platform.

The best way to know the reputation of a trading platform is to check user reviews on major cryptocurrency public forums like Bitcoin talk, medium or Reddit.

2. EASE OF USE –

Best altcoin trading platform should have an easy to use platform or user-friendly platform. So even new crypto traders can get accustomed to the altcoin trading.

SECURITY –

The cryptocurrency trading platform must have robust security.

So a user can trade with a peace of mind and can leave trading asset over the exchange.

FEES:

Fees are another factor in the search of a specialized top altcoin trading platform.

The cryptocurrency trading platform must have minimal fees so that you can make a good profit out of it.

If the fee is high, it would be difficult to book your profits in small trades.

NUMBER OF ALTCOINS TO TRADE –

Higher the number of legitimate altcoins to trade better will be the altcoin trading platform for altcoin traders.

LIQUIDITY –

Liquidity means how quickly the trader can get your hands on your wanted currency by exchanging it for other currencies.

Higher the liquidity better the cryptocurrency trading platform for altcoin trading.

TRADING TOOLS

Trading tools are the certain trading features offered by a specialized altcoin trading platform to make trading more convenient.

CUSTOMER SUPPORT

Support of the best altcoin trading platforms should be of top-notch and should available 24*7

COUNTRIES SUPPORTED

Availability of an altcoin trading platform to the number of countries is also a major factor to be on the list of 12 best altcoin trading platform

According to these criteria, I have listed the 9 best altcoin trading platform for altcoin trading

9 TOP ALTCOIN TRADING PLATFORM LIST FOR ALTCOIN TRADING

1. BITFINEX –

Bitfinex is one of the best altcoin trading platforms was officially opened in 2012 by Bitfinex Limited

The company is based in Hong Kong and is in operation since 2014 with a large trading volume even higher than the one of the most reputed Bitcoin exchange (Coinbase.)

It allows you to trade 13 popular cryptocurrencies including Bitcoin

They charge a commission fee of 0.1% to 0.2% depending upon the trading amount.

Bitfinex uses a maker-taker fee model in which a maker who adds liquidity to the exchange ecology, and a taker is the one who removes it. The maker is charged with 0.1% fee and the taker is charged with 0.25 fee.

Bitfinex allows you to buy altcoins with fiat money (USD and Euro). Cryptocurrencies are also accepted.

Bitfinex user interface is very friendly even to beginners. The platform offers quick options to buy and sell cryptocurrency as well as to place orders. The altcoin trading platform is mobile-friendly and responsive.

Bitfinex (altcoin trading platform) provides advanced trading tools such as limit orders, stop orders, trailing stop, fill or kill, and TWAP, along with different market charts.

It also offers high Ethereum and Bitcoin liquidity.

It offers two-factor authentication to keep your account secure and user have to get the account verified before an individual can start altcoin trading.

You need to provide the email address, personal information including mobile no and have to upload related documents to get your individual account verified

Support is available 24/7 but only via email.

The Bitfinex trading platform supports most countries worldwide excluding the U.S.A.

Bitfinex is available in India

Pros

• High trading volume
• High liquidity
• margin trading and leverage available
• Unlimited withdrawal

Cons

• Got hacked in 2016 (but recover well).
• Not available for the USA residents
• In late 2017 had payment and registration issues (getting normal)

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2. BINANCE

Binance is second on the list of 9 best altcoin trading platform.

Its ICO was announced on June 2017. 

Though it is China-born, it doesn’t serve its native country but is open to almost all countries around the world. 

It has built an outstanding reputation in such a short period of time.

Although this renowned Exchange was initially launched in Shanghai, China.

It was later moved to the more friendlier nation, Hongkong.

The servers, on the other hand, are hosted in the Republic of Korea and Japan.

Binance trading volume has skyrocketed since its launch and it is already in 3 best altcoin trading platform according to trading volume

Binance offers more than 200 altcoins and it is said to be the first adopter of a new ICO token.

There are no deposit fees on the platform but trading and withdrawal charged a minimal fee.

The trading fee is currently 0.1%, regardless of the coin, but it can be halved if paid with BNB (Binance coin, an altcoin backed by the platform itself).

Binance uses maker-taker fee model.

Withdrawal fees depend on the withdrawal cryptocurrency. Binance is also multilinguistic.

Fiat deposits are not accepted, the site only accepts more than 500 cryptocurrencies. It allows crypto to crypto exchange.

Binance uses two different trading method one is basic and another one is advanced. There are more than 500 trading pairs available for altcoin trading.

Two-factor authentication is available for basic security of the exchange. The platform also offers a multi-tier and multi-tier security system architecture.

It is easy to navigate on the Binance platform. The platform can be a little bit tricky for beginners. A little bit of time in exploring the tabs will make newbies confident.

The website doesn’t lag for a second, provides a great user experience. They also have mobile apps for both iOS and Android users.

Support usually reply within 24 hours but only available via email.

It supports almost all major nations worldwide excluding China.

Binance is available for U.S and Indian customers to trade

Pros

• Low trading fee.
• More than 200 altcoins are available for trade.
• High trading volume

Cons

• Doesn’t support fiat currencies as the payment method.

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Read the complete review

3.BITMEX

Bitmex is the leading Cryptocurrency margin trading platform online

Launched by HDR Global Trading Limited in 2014, BitMEX is a trading platform operating in Hong Kong and registered in the Republic of Seychelles.

They have more than 1M user access monthly and a daily trading volume of over 1M BTC.

It regularly sits comfortably in the top 5 best altcoin trading platform on the daily trading volume

BitMEX allows users to trade a number of altcoins, namely Bitcoin crypto, Bitcoin Cash, Dash, Ethereum coin, Ethereum Classic, Litecoin currency, Monero, Ripple XRP coin, Tezos, and Zcash.

Bitmex also offers cold storage wallet for altcoins.

The best altcoin trading platform also allows users to trade altcoins against fiat currency mainly USD, Japanese yen, and Chinese yuan. Bitmex has very competitive 0.25% trading fee.

There is no deposit fees and withdrawal fees. It does not support the withdrawal of fiat currency

Bitmex has very robust security. Till date, there hasn’t been an incident of security breach or fraud.

Security is one of the top priority for the cryptocurrency exchange.

Bitmex offers high liquidity and leverage up to 100x

Bitmex offers a wide variety of trading options as it is mainly a pure altcoin trading platform.

Along with margin trading, it also allows trading future derivatives and swaps.

Trading future derivatives terminology

Limit Order — this order is fulfilled if the given price is achieved

Stop Limit Order — allows users to set the price of the Order once the Stop Price is triggered

Take Profit Limit Order — similar to a Stop Order, to set a target price for a position.

Market Order — this order is executed at the current market price

Stop Market Order — this is a stop order that does not enter the order book, remain unseen until the market reaches the trigger price

Take Profit Market Order — This is similar to the previous type, but in this case, the order triggered will be a market order, and not a limit one

The interface is intuitive and easy to navigate. The website is fast and responsive, but newbies will take some time to get used to the interface. The platform operates swiftly on the mobile application (android app)...continue reading 7 best altcoin trading platform

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