Best 5 Altcoin Cryptocurrencies Exchanges

Best 5 Altcoin Cryptocurrencies Exchanges

The price of bitcoin surged to a record high prior to the closing of 2017 along with most cryptocurrencies. But buyers failed to retain their bullish momentum and market sentiment turned extremely bearish after hitting the critical high at 19919.5. From the beginning of  2018, Bitcoin’s price has fallen 30-40% across the globe. Some might consider this event as the outcome of the bubble burst.

Bitcoin Weekly Chart

Bitcoin Weekly Chart

Though the price of bitcoin has drastically fallen over the past few months, cryptocurrencies investors are still holding their long position as they believe the future of cryptocurrency is extremely bright. In fact, optimistic investors are considering this sudden drop in prices as a golden opportunity to execute fresh long orders. 

Moreover, the possibilities of blockchain technology are endless. So chances are very high the value of some of the cryptocurrencies will rise higher in the near future. Though bitcoin is the most popular cryptocurrency, many long-term investors often prefer altcoins as these coins can provide investors and traders with more volatility and high returns.

What is Altcoin?

If you break down the word Altcoin we have ALT and COIN. To be precise altcoin is nothing but an alternative for bitcoins. Altcoin uses alternative consensus rule which is distributed in a different ledger. Sounds a little bit confusing? Let’s make it more clear. Altcoin is just like your regular bitcoin developed based on blockchain technology. It uses a peer-to-peer network mining process to solve complex mathematical problems to unblock blocks in the chain in order to carry out cryptocurrency transaction at low cost. For example Litecoin, Dogecoin, Cardano, Stellar Lumens, XRP  etc. are the most popular altcoins in today’s crypto industry. The definition of Ethereum as altcoin remains unsolved.

5 Best Altcoin Cryptocurrencies Exchanges

So, how can you start trading or investing in altcoins? Well, first you need to find a good and reliable altcoin exchange. Due to the rising demand of altcoins, hundreds of exchanges are trying to establish their firm base among the altcoin clients. The transaction process involved with the least reputed exchanges can result in a big loss. In this article, we will highlight some of the most reputed and trusted altcoin exchanges in the world.

Binance

Binance is one of the most popular altcoin exchanges in the world. It is estimated that the exchange ranked at top three exchanges by volume. Currently, the registration link is open only a few hours a day which means you will have to keep a close eye on their website to register. Due to its smart mobile and easy user interface, it has become the world fastest growing exchange in the altcoin industries. If you are a day trader, you can easily receive a decent discount offer by using their native currency BNB which is often known as the Binance coin. Their centralized unique structure allows them to offer a very competitive trading fee (0.1%) which is significantly lower than other peers.

Bitmex

Bitmex is perhaps the most popular among the scalpers (high-frequency traders) and the web developers community. Being an altcoin trader you will find a high level of liquidity which will make trading much easier. 

Currently, it’s much easier to register and open an account, however, those things can change. Just fill-up the simple form with the basic details and start transacting altcoins. 

Kucoin

Kucoin can be the right choice for the new investors. It requires less technical knowledge and the user interface is designed in a very unique way. You can easily clear any altcoin transaction within a short period of time. If you are looking to day trade altcoins kucoin platform will also provide you a dynamic trading environment which will make trading much more easily.

Changelly

Changelly is another famous altcoin exchange among the novice crypto investors. Currently, they are offering 35 currencies to start your exchange with altcoin. The best thing about Changelly is its registration process. You don’t have to complete a lengthy registration and verification process since they are a little bit liberal on this sector.

Usually, it takes 25-30 minutes to complete an altcoin transaction at Changelly. The transactions fee is only 0.5% for such amazing service. You can even use a visa or master card to buy altcoin from this exchange.

Bittrex

If you are looking to trade multiple cryptocurrencies under the banner of one exchange, Bittrex should be the number one choice. It offers more than 190 currencies and being a regulated company in the U.S so you don’t have to worry about your investments.

As we have said earlier, there are hundreds of altcoin exchanges on the internet and all of them have unique features. Depending on your needs, you should find the exchange that will provide you with the conditions to maximize your profits. But before you start investing in altcoins, it’s highly imperative you have a clear knowledge of cryptocurrencies. For instance, if you trade Ethereum with bitmex its highly imperative you know more about the currency cap and mining complexity of this coin. If you blindly trade altcoins, the chances are very high you will lose a significant portion of your investment.

Always remember, investing in cryptocurrencies requires precise knowledge of risk management plan. If you invest all your money and trade with a big lot, small fluctuations may wipe your entire account. So learn how to invest on the crypto industry with managed risk and always chose a reputed exchange to protect yourself from the scammers.

Facebook Comments
Categories: News

About Author