So you've got a few major cryptocurrencies like Bitcoin and Ethereum, but now you want to see what the broader cryptocurrency world has to offer. You want to buy altcoins.
An altcoin is any cryptocurrency that is not Bitcoin (an alternative coin to Bitcoin). This means that thousands of altcoins are waiting for your attention.
Want to check it out? Here are six of the best altcoin exchanges.
1. Binance
Perhaps you were expecting to see some left-handed exchange with a bunch of altcoins)? No, the best altcoin exchanges are often the most famous. At the same time, Binance offers more 500 pairs of coins at the time of writing, making it one of the most populous altcoin exchanges of them all. It is important for users that Binance has a large trading volume and a very good security history.
Binance also has a rich history of introducing new altcoins. Binance LaunchPad helps filter out the best new altcoin projects ( known as Initial Exchange Offerings ), giving them the opportunity to grow and exposing them to a huge audience on the main trading site.
2. HitBTC
HitBTC is another major exchange with high trading volume. He regularly reaches 500 million per day. The exchange offers a huge number of trading pairs: more 750 at the time of writing.
The number of pairs places HitBTC among the largest altcoin exchanges. The YoBit exchange is probably number one (with a pair of over 4000 coins), but has a very negative reputation.
A huge number of pairs means that anyone who wants to buy altcoins has a good chance of finding what he wants.
Like any cryptocurrency exchange, HitBTC has its share of negative reviews. We recommend trading small volumes on HitBTC just to be on the safe side.
3. IDEX
IDEX is a decentralized Ethereum asset exchange and another great exchange to buy altcoins.
The exchange focuses on trading ERC-20 peer-to-peer tokens, regularly raking in over $ 500 million in 24-hour trading volume. At the time of writing, IDEX offers over 500 trading pairs Focusing exclusively on Ethereum-based tokens.
IDEX is popular for a variety of reasons. On the one hand, it is decentralized, providing additional security for users through peer-to-peer transactions. Indeed, IDEX ranks on our list of the best decentralized exchanges.
In addition, it has very low GAS costs, minimizing transaction fees, and also offers many market analysis and charting tools.
4. Bittrex
I used Bittrex for a very long time until I switched to Binance to take advantage of Launchpad and Initial Exchange.
But Bittrex remains a popular exchange, even if its total trading volume has declined recently. However, on a positive note for Bittrex, the number of trading pairs available to users is over 350 at the time of writing.
Like Binance, Bittrex also has a cryptocurrency launcher. Bittrex's initial exchange offerings started off badly and, in truth, don't have a better reputation. But the site itself is still one of the safest and therefore one of the best altcoin exchanges.
5. OKEx
OKEx is a Malta-based altcoin exchange with more than 400 pairs of coins .
It regularly appears on the list of the best cryptocurrency exchanges, and it's easy to see why. A friendly user interface, minimal fuss about cashing out or exchanging, and a solid security history keep OKEx at the top of the altcoin exchange rankings.
OKEx regularly sees 500 million dollars per 24-hour trading volume, which is a big plus for altcoin traders who need liquidity.
But it's not just altcoins that keep OKEx in the news about cryptocurrency. The exchange is also trying to create a globalized standard that all cryptocurrency exchanges must follow, similar to the World Federation of Exchanges.
“Cryptocurrencies are global and decentralized and the industry remains nascent, so regulations are not enough. The only way for exchanges to grow and make an impact is to come together to develop practices and policies that set the global standard and adapt to regional regulatory frameworks.”
6. p2pb2b
Our list concludes with the fastest growing altcoin exchange in the world, p2pb2b.
Like most of the other altcoin exchanges on this list, p2pb2b regularly has 24-hour trading volume in excess of $ 500 million. It lists more than 450 pairs of coins .
She also receives reliable user reviews from various sources and regularly lists new altcoins for her users.
p2pb2b also has a convenient mobile application that allows you to view altcoins on the go (and also hold them on top of bags with altcoins!).
Although p2pb2b has a large volume and a large number of coin pairs, it is also a relatively new altcoin exchange. Due to this, we advise you to be careful before placing large amounts of cryptocurrency.
What is the best Altcoin exchange?
For us, the best altcoin exchange is anyone who takes your security seriously.
First of all, you need to be sure that your cryptocurrency is safe. Remember that until you move the cryptocurrency from the exchange to your personal wallet, you are not 100% protected.
Second, it depends on what kind of altcoin you want to buy. Some altcoin exchanges only list a small number of tokens, so you might not find the altcoin you want.
However, the best practice is to stick with those who have a solid reputation.
If you want to know more about the best altcoin exchanges, read our other articles on the best decentralized crypto exchanges and tips for novice traders .
Caveant consules! - Let the consuls be vigilant.