Altcoins, or alternate cryptocurrencies, are basically all cryptocurrencies other than Bitcoin. The first cryptocurrency that was created was Bitcoin, which was created by Satoshi Nakamoto in 2009. However, since then - a number of cryptocurrencies started to come up. As of today, there are over 1400 altcoins in the markets, with new ICOs coming up almost every other day. The number of altcoins is likely to double up by this time next year. In this article, we take a look at the best altcoin exchanges of 2018.

When it comes to investing into cryptocurrencies, there are largely two kinds of traders - one who invest only in Bitcoins and the other who invest in altcoins as well. Before we dive into the best altcoin exchanges of 2018 - let us take a look at the benefits of trading altcoins:

Why Should You Participate in Altcoin trading?

  • More Options: Simply put, altcoin trading gives you more options than just trading in Bitcoins. While Bitcoin is just one currency, there are like 1400 others you could choose from. Even when Bitcoin prices are going down, some of these altcoins might be in profit - helping you make profits even at a time when the markets are red.

  • The Massive Gains: Last year, while Bitcoin grew by an impressive 1400%, the number was dwarfed by other cryptocurrencies such as Ripple, which grew by 36,000% and Ethereum, which grew by 9,000% among others.

  • Increases your Base Currency: One of the biggest benefits of trading in altcoins is - that if you are buying altcoins in exchange of Bitcoin or Ethereum - when the value of these altcoins increases, the value of your Bitcoins will also increase. Thereby, ensuring you even bigger profits when the price of Bitcoins boom.

That being said, let us now take a look at the best altcoin exchanges of 2018 - platforms which provide the perfect support for trading altcoins.

5 Best Altcoin Exchanges of 2018

Binance

Binance Crypto Exchange

Having started off in mid-2017, Binance has really surprised the markets with the kind of growth it has shown. This is one of the best altcoin trading exchanges of all times and has attained that status in in less than six months! One of the fastest growing altcoin exchanges, Binance burst into the scene and quickly dominated the markets - amassing an insane amount of users in a very short span of time.

Binance is based in Hong Kong and has servers located in Korea and Japan. This altcoin trading platform can be accessed from pretty much anywhere in the world, however it restricts Chinese IP addresses. Binance is also one of the best altcoin exchanges and a highly preferred choice when it comes to the altcoin trading options they have to offer. The platform offers over 80 altcoins to choose from and trade!

Binance regularly updates ICO tokens on their platform which users can take part in and profit from. In addition to all this, Binance also has their own cryptocurrency token - BNB. The platform has a trading fee of 0.1% however, this too, can go down to 0.05% if paid with BNB tokens. When it comes to buying altcoins, while Binance does not support fiat currencies, it has wide options of altcoins that can be used to trade.

Binance is a very secure platform and provides a great, lag-free user experience. Binance also has apps for iOS and Android which can be used to check your portfolio and trade. Binance is also quite active when it comes to social media and has a solid customer support as opposed to many other altcoin exchanges. All of this put together might just make Binance one of the best altcoin exchanges ever. All of this has been achieved in a very short span of time, which is quite incredible in itself!

Also Read: Complete Review of Binance Exchange

Bittrex

Bittrex Crypto Exchange

One of the biggest and the most popular names when it comes to trading altcoins, Bittrex has a vast selection of cryptocurrencies and allows the users to easily trade them with Bitcoin as the base currency. It is among the top names in the world when it comes to altcoin trading platforms.

Bittrex has been around since 2014 and has quite a reputation for being one of the best altcoin exchanges. Bittrex is a secure platform and offers multiple layers of protection. Another cool feature of this altcoin exchange is the fact that it allows users to convert their earnings into USDT and later buy back using it. If your altcoins are dipping, you can easily convert them into USDT and buy back later using the same USDT.

Over 200 altcoins are listed on the Bittrex exchange. The exchange ensures that only verified and safe cryptocurrencies are listed on their platform. It allows creating an individual wallet for each altcoin and storing it on their platform. Bittrex charges a flat 0.25% trading fee and a variable withdrawal fee. Bittrex has no deposit charges but the withdrawal charges are considerably higher than other exchanges. (For example, the withdrawal charge for Bitcoins is 0.001 BTC).

Bittrex has strong verification measures in place with two types of verifications. The platform also allows a number of trading options as well as detailed analysis tools which allow experienced users to track the historical movement of all altcoins. All of this put together makes Bittrex one of the best altcoin exchanges of all times. One big disadvantage is that the Bittrex support team isn’t as efficient as one would expect it to be and it often takes months to resolve some issues.

Poloniex

Poloniex Crypto Exchange

Another major player when it comes to the best altcoin exchanges, Poloniex has made quite a name for itself over the past few years. The altcoin trading platform might not be as beginner friendly as some other alternatives mentioned on this list, but it is certainly one to consider for those who have been trading for a while. Poloniex offers a great platform when it comes to comparing various cryptocurrencies and analyzing them technically.

One of the best altcoin exchanges, Poloniex has been around since January 2014 and has recently completed 4 years. It is based in the US and offers numerous charts and data analysis tools. As of this writing, Poloniex offers 99 cryptocurrencies which users can trade between! One of the biggest disadvantages that this cryptocurrency exchange poses is the fact that it is not a beginner friendly platform. If you are a novice trader who is looking for an easy platform to trade your altcoins - this is not the place for you and you should perhaps consider Bittrex or Binance.

However, Poloniex has an incredible amount of offerings in store for those who like to perform technical analysis on their altcoin holdings. The platform presents information in a way that perhaps no other exchange does. Security and support-wise, again, Poloniex isn’t as good as some of its competitors are. However, the kind of tools that it has really gives it an edge over the rest.

Also Read: Complete Review of Poloniex Exchange

Bitfinex

Bitfinex Crypto Exchange

Hong Kong based Bitfinex has been around since 2014 - and is one of the most popular and reputed names when it comes to trading altcoins. While the number of altcoins that you can trade on Bitfinex are significantly lesser than other popular exchanges, the platform ensures that only the most trusted names in the industry are allowed here. It offers only the creme-de-la-creme of world of altcoins.

As of this writing a little over 35 altcoins are supported by Bitfinex. One of the biggest advantages of using Bitfinex is the fact that you can make direct purchases using USD. If you prefer to directly buy altcoins by paying in US Dollars, this is the perfect platform for you. In most cases, you’ll need to first buy Bitcoins and then trade altcoins with Bitcoins. However, here you can directly buy altcoins using USD. The platform also allows you to trade Bitcoins, as well as USDT.

Bitfinex charges a trading fee of 0.1% for makers and 0.2% for takers depending on the kind of sell order you place. Bitfinex offers some of the most advanced tools of cryptocurrency analysis and trading on their platform. This is truly what makes it one of the best altcoin exchanges. The platform is secure and has an active support team which responds on mail usually within 12 hours. One major disadvantage here is that US customers cannot trade with the company.

CEX

CEX Crypto Exchange

CEX (also popularly known as CEX.IO) has been around since 2013. This altcoin exchange has quite a dominating presence and is particularly known for the fact that it supports Credit Card payments. CEX initially started off as a Bitcoin trading and cloud mining platform but has since expanded into becoming a proper, full-fledged Altcoin exchange.

CEX has a high trading volume and offers multiple levels of account verifications. The highest level of verified accounts can make large transactions on a daily basis. Their daily deposit and withdrawal limit is 10000$ per day and 100000$ per month! This makes CEX one of the best altcoin trading platforms for those who deal in large amounts.

However, one big drawback here is the fact that CEX supports about 20 altcoins and does not have many options to choose from. However, as a plus - all these altcoins listed here are again, safe to trade with and users are not at a risk of investing in shady cryptocurrencies. CEX also offers a number of trading options including margin trading. It is a good looking platform and is easy to use, even for first-time users.

CEX is a secure trading platform, though it got hacked once in 2013 during its early run. However it has since bounced back and been very secure. Their customer support, however, often provides delayed responses and isn’t up to the mark. CEX provides support for most of the countries across the planet and is indeed one of the best altcoin exchanges!

Conclusion: Choosing the Best Altcoin Exchange

While this list provides you with a number of different options that you can use to trade altcoins, it is hard to choose one single exchange from this list of the best altcoin exchanges. Users often tend to use multiple exchanges - for example, poloniex for analysis, Bittrex and Binance for trading. There are some exchanges which have unique offerings such as CEX and their Credit Card support, Bitfinex’s fiat currency support, etc. Hence, a combination of these features makes the best altcoin exchange!