Altcoins are the cryptocurrencies other than Bitcoin. Around 6,000 altcoins are formed after the success of Bitcoin. The main difference between bitcoin and altcoin is that altcoins have different monetary rules. They employ different proof of work algorithms and some of them offer more privacy when compared with bitcoin.
But most of them have the least benefits over bitcoin and have less hash power. Even though the exchange rate of altcoins is more volatile, they are getting more attention from investors. Let’s see the top exchanges in the world that allows us to buy altcoins.
Top Altcoin Exchanges In The World
Here is a list of some of the world’s top and best altcoin exchanges. Let’s check it out.
Cameron and Tyler Winklevoss invented Gemini in 2015 to regulate the banking industry. Institutional investors also use this platform because they always have high trading volumes.
You can also deposit or withdraw your fund using a bank account. Before funding, you have to complete a verification process by entering your personal details and uploading a government-issued ID card. There is no deposit fee and the trading fee starts at 0.25%.
Kraken is a popular altcoin platform formed in 2011. Fundings through debit cards or credit cards are not allowed in Kraken and you can use your bank account if you are living in Canada, Japan, the US, or in the EU. just before funding, you have to verify your account.
If you are just depositing cryptocurrencies, then only basic information is verified. If you have to link your bank account, then additional information like address details are needed. The trading fees depend on the amount you trade and are different for different altcoins.
Poloniex is the most popular US-based altcoin exchange found by Tristan D’Agosta in 2014. The altcoins list of Poloniex is very large and its volumes are also high. But the most important disadvantage of Poloniex that makes investors rethink is that they don’t support fiat currencies.
That is, you have to fund your Poloniex account using cryptocurrencies instead of debit cards, credit cards, or bank accounts. As soon as you start your account, you can trade. No other identity verifications are required like any other platform.
Bitstamp is a platform for experienced traders found in 2011. They have their offices in almost all countries and have one of the highest trading volumes in the industry. You can deposit funds using credit cards, debit cards, or bank accounts.
According to the payment method you choose, they charge a deposit fee for you. Trading fees are fixed for all types of cryptocurrencies and is 0.25%. If you trade $20,000 per month, then the charge decreases.that is if you trade more money, the trading fees decrease.
BitSquare is a unique platform and has many differences from other platforms. Unlike others, it is a decentralized exchange that doesn’t have a third party between the buyer and seller.
It is a popular exchange launched in 2016 which allows both cryptos to crypto and crypto to fiat exchanges. You can download the software on your device and start buying or selling altcoins. It is a more reliable platform and provides more than 20 payment options.
Altcoins are the most volatile and risky cryptocurrencies. They are not as secure as bitcoin and have the chance of getting hacked when the hash rate is too low. So to buy and sell altcoins, a secure platform is required. Above given are the best, top-rated, and most secured platforms to buy and sell altcoins. If you are looking for an exchange, then select the best from the above according to your preferences and priorities.