14 Best Altcoin Exchanges in 2026 Reviewed

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Altcoin exchanges support hundreds of cryptocurrencies, making them ideal for creating diversified portfolios. This usually includes a blend of small and large-cap projects from various cryptocurrency niches. To find the best altcoin exchange in 2026, we tested, analyzed, and compared over 60 platforms, basing our research on their number of listed altcoins, trading fees, liquidity, security, and ease of use.

After a detailed analysis, we can conclude that Best Wallet surpasses all other platforms with its integrated DEX that supports over 1,000 altcoins, from the popular Bitcoin, Solana, and Ethereum, to low-cap altcoins, such as Aave, Axie Infinity, and SushiSwap. What’s more, its native token holders gain access to new altcoins that are in their presale stage.

With that in mind, here’s all you need to know about the best altcoin exchanges:

The Top Altcoin Exchanges Shortlisted


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The Best Altcoin Exchanges in 2026 Compared


Summarized below are the 14 best altcoin exchange platforms to consider today:

Altcoin Exchange Number of Altcoins Listed Spot Trading Fees Fiat Deposits? Best For
Best Wallet 1,000+ 0.1% to 0.25% Yes Overall best altcoin exchange
Crypto.com 400+ 0.5% per slide Yes Mainstream tokens
MEXC 1,820+ 0% maker/ 0.05% taker Yes Number of supported coins
Kraken 660+ 0.25% maker/ 0.4% taker Yes Dollar-cost averaging
Binance 600+ 0.1% maker and taker Yes Day trading
Bitpanda 600+ 0.99% to 1.49% Yes Multi-asset trading
OKX 340+ 0.08% maker/ 0.1% taker Yes Low commissions
Margex 50+ 0.019% maker/ 0.06% taker (futures) Yes Futures trading
BloFin 615+ 0.1% maker and taker Yes Leverage trading
KCEX 930+ 0% maker and taker No Anonymity
PrimeXBT 50+ 0.01% maker/ 0.045 taker (futures) Yes Mobile support
eToro 110+ 1% flat fee per trade Yes Fiat deposits
Bybit 740+ 0% maker/ 0.10% taker Yes Trading bots
WEEX 600+ 0.1% maker/ taker Yes Derivatives and leverage

The 14 Best Altcoin Exchanges: Full Reviews


Let’s take a closer look at the altcoin trading exchanges listed above. Our reviews cover everything investors need to know when making an informed decision.

1. Best Wallet – The Overall Best Altcoin Exchange in 2026

  • Altcoins Listed: 1,000+
  • Spot Trading Fees: 0.1% to 0.25%
  • KYC Required? No
  • Available in the US? Yes

Best Wallet is a great choice for those looking for a secure and user-friendly platform tailored to beginners and experienced investors. The platform supports many payment methods, including debit cards, bank transfers, and fiat deposits. It also doesn’t charge deposit fees, making it cost-effective for funding accounts.

Best DEX - overall best altcoin exchange

Best Wallet’s built-in altcoin DEX supports more than 1,000 tokens, including major altcoins like Ethereum, BNB, Dogecoin, Cardano, and Solana. It also features lower-cap tokens such as Aave, Axie Infinity, and SushiSwap.

Best Wallet also provides access to its ecosystem’s unique benefits, including reduced trading fees for holders of its native $BEST token. This feature, combined with extensive altcoin support, makes Best Wallet an ideal choice for those looking for an efficient trading platform.

Pros

  • Supports over 1,000 altcoin markets
  • Fee-free fiat deposits
  • Trading fee discounts for $BEST token holders
  • Offers robust security measures
  • User-friendly interface
  • Available via native iOS and Android apps

Cons

  • Limited educational tools for beginner investors
Visit Best Wallet

2. Crypto.com – Best Altcoin Exchange for Mainstream and Emerging Tokens

  • Altcoins Listed: 400+
  • Spot Trading Fees: From 0.075% maker and taker (with CRO staking)
  • KYC Required? Yes
  • Available in the US? Yes

Crypto.com is a globally recognized exchange that supports a broad selection of established and emerging altcoins. This exchange focuses on quality listings, covering major large-cap assets alongside a rotating lineup of mid- and small-cap tokens. This makes it suitable for users seeking diversification without venturing too far into illiquid markets.

Crypto.com img

Crypto.com also stands out for its integrated ecosystem. Users can trade spot and derivatives, earn yield through Crypto Earn, stake CRO for fee discounts, and access additional features like crypto debit cards and in-app payments. The platform supports perpetual futures and advanced trading tools through its Exchange interface, while beginners can use a simplified buy/sell option directly in the app.

Fiat on-ramps, card purchases, and e-wallet support further enhance accessibility, making Crypto.com a strong all-in-one altcoin trading platform for both new and experienced users.

Pros

  • Strong selection of more than 400+ altcoins
  • Integrated ecosystem with trading, earning, and payments
  • Competitive trading fees with CRO staking
  • Beginner-friendly app with fiat on-ramps

Cons

  • KYC completion is required before you can start trading
  • Advanced features often require CRO staking or higher account tiers
Visit Crypto.com

3. MEXC – Altcoin Exchange for a Wide Range of Supported Coins

  • Altcoins Listed: 1,820+
  • Spot Trading Fees: 0% maker/ 0.05% taker
  • KYC Required? Optional
  • Available in the US? No

You can find one of the largest selections of altcoin markets on the MEXC exchange. As the crypto exchange with the most coins, the platform supports over 1,820 cryptocurrencies, including market leaders like Ethereum, Solana, and Cardano. Traders will also find plenty of micro-cap altcoins, making MEXC one of the best options for finding the next 1,000x crypto.

mexc crypto exchange

MEXC offers advanced charting tools, including technical indicators and TradingView integration. It also offers in-depth order books and risk management tools like stop-losses and take-profits. While most traders opt for the spot trading markets, MEXC also supports cryptocurrency derivatives.

These are ideal for short-selling altcoins or trading with leverage, as large-cap altcoins come with leverage of up to 200x. We also like MEXC’s fee structure. It charges just 0% when trading spot markets on the maker side and ~0.05% on leveraged futures. Debit/credit card payments are processed by fiat gateway partners. Other payment methods are available in the peer-to-peer department.

Learn more

Pros

  • More than 2,900 altcoins listed
  • Low trading fees between 0% and 0.05%
  • Premium trading volumes and liquidity
  • Supports desktop trading and a native mobile app
  • Altcoin leverage of up to 200x

Cons

  • US clients are not accepted
  • The instant buy feature only supports six altcoins
Visit MEXC

4. Kraken – Best Altcoin Exchange for Dollar-Cost Averaging

  • Altcoins Listed: 660+
  • Spot Trading Fees: 0.25% maker/ 0.4% taker
  • KYC Required? Yes
  • Available in the US? Yes

Kraken is a US-friendly crypto exchange that launched in 2013. It supports over 200 cryptocurrencies, including Solana, Filecoin, Dogecoin, Polkadot, Dash, and Waves. The minimum investment requirement is a budget-friendly $10. What’s more, Kraken offers a ‘recurring buy’ feature that’s ideal for dollar-cost averaging.

kraken exchange home page

For example, you could buy $50 worth of Litecoin every Monday and $50 worth of Bitcoin Cash every Friday. In terms of deposit methods, Kraken supports cost-effective bank transfers. Multiple banking networks are supported, including SEPA and ACH. Debit/credit cards are also accepted, meaning you can buy altcoins instantly.

However, Visa and MasterCard payments cost 3.75% + $0.25. Although Kraken is ideal for beginners, it also offers an advanced trading dashboard. This supports charting tools, technical indicators, and perpetual futures. Kraken also offers staking rewards and an NFT marketplace. Kraken recently launched a decentralized altcoin wallet, which comes as a mobile app.

Learn more

Pros

  • US-friendly exchange with solid regulation
  • Great dollar-cost averaging tool
  • Supports over 360 popular altcoins
  • Offers a decentralized wallet app

Cons

  • Higher commissions than most altcoin exchanges
  • Debit/credit card fees are high
Visit Kraken

5. Binance – Leading Altcoin Exchange for Day Trading

  • Altcoins Listed: 600+
  • Spot Trading Fees: 0.1% maker and taker
  • KYC Required? Yes
  • Available in the US? Yes, via Binance.US

We found that Binance is the best altcoin exchange for day traders. For a start, Binance offers significantly more liquidity than its competitors. This often exceeds $100 billion during peak market cycles. In addition, Binance offers advanced charting features that are ideal for day trading strategies.

binance altcoin exchange

This includes more than 100 technical indicators, such as moving averages and the RSI, not to mention custom drawing tools and fully customizable charting screens. Binance also offers competitive trading commissions. Spot trading fees start from 0.1% per slide. Reduced commissions are available when holding BNB or meeting a minimum 30-day volume.

In terms of markets, Binance supports over 600 altcoins. The exchange is another great option for trading cryptocurrency derivatives, including perpetual futures and options. While fiat money deposits are accepted, some currencies are no longer supported. Deposit fees vary depending on your location and the chosen payment method.

Learn more

Pros

  • Unmatched liquidity, perfect for day trading and scalping
  • Offers the largest 24-hour volumes in the market
  • Buy and sell altcoins from just 0.1% per slide
  • Supports more than 100 technical indicators
  • Offers spot, futures, and options

Cons

  • Fiat deposits aren’t supported in all countries
  • Facing increased pressures from global regulators
Visit Binance

6. Bitpanda – Top Altcoin Exchange for Multi-Asset Trading

  • Altcoins Listed: 600+
  • Spot Trading Fees: 0.99% to 1.49% (Broker)
  • KYC Required? Yes
  • Available in the US? No

Next on our list is Bitpanda, one of the top brokers in Europe that features more than 600 cryptos, including many niche altcoins. You can also invest in commodities, precious metals, and fractional stocks, so it’s easy to build a diverse portfolio all in one place.

Bitpanda Homepage

Bitpanda also has some helpful passive investment tools, especially its Crypto Indices. With these, you can invest in a set group of the top 5, 10, or 25 cryptos with just one click. In other words, you can easily diversify without having to rebalance the portfolio yourself.

What is worth noting is that Bitpanda allows you to trade on margin with up to 10x leverage on popular assets. And at the same time, the platform is quite transparent about its fees. It typically charges trading premiums (spreads) of around 1.49% for buying and selling crypto. Notably, most SEPA fiat deposits are processed without fees.

Pros

  • Regulated in Europe (FMA, BaFin, etc.)
  • Offers Crypto Indices for instant diversification
  • Includes metals, commodities, and stock derivatives
  • User-friendly interface for beginners
  • Free fiat deposits and withdrawals via bank transfer

Cons

  • Not available to users in the United States
  • Standard “instant buy” spreads are higher than spot trading fees
Visit Bitpanda

7. OKX – Best Altcoin Exchange for Low Commissions

  • Altcoins Listed: 340+
  • Spot Trading Fees: 0.08% maker/ 0.1% taker
  • KYC Required? Yes
  • Available in the US? Yes

As another top contender, OKX is a great option for trading altcoins with low commissions, as you’ll only pay just 0.08% to 0.1% per slide, on average. This means you’ll be charged less than $1 for every $1,000 traded. OKX also offers reduced fees when 30-day volumes hit certain milestones, and you’ll be charged even less when holding OKB tokens, which are native to the exchange.

okx low-fee altcoin exchange

In terms of markets, OKX supports over 340 altcoins. This includes some of the best meme coins, such as Pepe, Bonk, Shiba Inu, and Dogecoin. OKX also supports derivative markets, including perpetual and delivery futures, as well as margin accounts and options.

Derivatives come with leverage of up to 100x, and they support long and short trading. OKX accepts fiat money payments, although fees are built into the exchange rate. The minimum deposit requirement is $10. OKX also offers a peer-to-peer altcoin trading platform, which increases the number of supported crypto assets and payment types.

Learn more

Pros

  • Trading commissions start from just 0.1% per slide
  • OKB token holders pay lower fees
  • One of the best crypto leverage trading platforms
  • Supports spot trading, futures, margin accounts, and options
  • Advanced trading dashboard with technical indicators

Cons

  • Limited fiat deposit options
  • Fiat deposit fees are built into the exchange rate
Visit OKX

8. Margex – Best Altcoin Platform for Futures Trading

  • Altcoins Listed: 50+
  • Spot Trading Fees: 0.019% maker/ 0.06% taker (futures)
  • KYC Required? No
  • Available in the US? No

Futures traders will find that Margex is one of the best altcoin exchanges. It offers cost-effective perpetual futures on over 50 altcoins. All perpetual instruments support long and short trading with high leverage limits. For example, you can trade Ethereum and BNB with 100x leverage while limits are reduced to 50x or 25x on other altcoins.

margex top altcoin exchange for futures trading

Margex offers competitive trading fees; market takers pay 0.06% per slide, while maker fees stand at 0.019%. However, there are no commission reductions when trading larger amounts. We found that Margex uses more than a dozen liquidity providers, ensuring that spreads are minimized around the clock.

What’s more, Margex offers an innovative staking feature. You can stake your preferred altcoins to earn competitive rewards while still using the funds to trade perpetuals. The exchange also offers copy trading features, which is great for investing in altcoins passively, and you can fund your account with debit/credit cards and SEPA for added convenience.

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Pros

  • Offers up to 100x leverage
  • Staking balances can be used for trading
  • Commissions starting at just 0.019% per slide
  • Copy trading is available
  • Partnered with over a dozen liquidity providers

Cons

  • Spot trading platform is still being developed
  • Supports just 35 altcoin markets
Visit Margex

9. BloFin – Best Altcoin Exchange for Leverage Trading

  • Altcoins Listed: 615+
  • Spot Trading Fees: 0.1% maker and taker
  • KYC Required? No
  • Available in the US? No

BloFin is gaining popularity as an altcoin crypto exchange for traders looking for high leverage and anonymity. The platform operates on a no-KYC policy for withdrawals up to $20,000 daily, allowing most users to trade without identity verification. It supports 615+ cryptos for spot and futures trading.

blofin leverage trading altcoin exchange

BloFin’s key feature is its high leverage allowance, offering up to 150x leverage on futures trading. The platform charges competitive fees, with a 0.1% maker/taker fee for spot trading and a 0.02% maker/0.06% taker fee for futures trades.

BloFin supports spot and futures trading with a user-friendly interface that uses TradingView charts plus tools for risk management and passive income generation. We also like its Rewards Hub with bonuses for new users and fee deductions for hitting trading volume milestones.

Learn more

Pros

  • No KYC is required for withdrawals up to $20,000 daily
  • High leverage of up to 150x
  • Competitive trading fees
  • Copy trading and bot trading features
  • Supports 540+ of altcoins

Cons

  • Limited coins available on spot
  • Requires KYC for daily withdrawals over $20,000
Visit BloFin

10. KCEX – Go-to Altcoin Exchange for Anonymity

  • Altcoins Listed: 930+
  • Spot Trading Fees: 0% maker and taker
  • KYC Required? No
  • Available in the US? No

KCEX is particularly suitable for users looking for anonymity and low fees. The platform has a no-KYC policy that lets you trade without identity verification. It supports 930+ cryptos, including many popular altcoins and trending meme coins. However, its key feature is its zero-fee spot trading, which is highly cost-effective for frequent traders.

kcex anonymous altcoin exchange

KCEX charges 0% maker fees and 0.02% taker fees for futures trading and 0% for spot. The platform supports both spot and futures trading, with leverage up to 100x available on select pairs. However, it doesn’t support fiat deposits, which may deter users who are new to the crypto space.

Overall, KCEX is an excellent option for both experienced traders and those looking to trade altcoins without KYC requirements. The platform also offers a user-friendly interface and various promotional events, plus bonuses for newcomers.

Learn more

Pros

  • No KYC is required for trading
  • Zero fees for spot trading
  • Among the lowest fees for futures trading
  • Supports 930+ altcoins
  • Frequent events and promotions

Cons

  • No fiat currency support
  • Relatively low max leverage allowance
Visit KCEX

11. PrimeXBT – Best Altcoin Exchange to Trade on Mobile

  • Altcoins Listed: 50+
  • Spot Trading Fees: 0.01% maker/ 0.045 taker (futures)
  • KYC Required? No
  • Available in the US? No

PrimeXBT is one of the best altcoin exchanges when trading on a mobile app. Its native app for iOS and Android supports perpetual futures with leverage of up to 100x. 50 altcoin markets are listed, including Polkadot, Solana, Litecoin, Ethereum, and Cardano. Perpetuals come in two forms: isolated and cross-margin.

primexbt mobile-friendly altcoin exchange

PrimeXBT boasts premium liquidity and market-leading spreads. Its charting dashboard has been optimized for smartphone usage, ensuring you can analyze the markets while on the move. Tools include advanced order types, a customizable workspace, and over 50 technical indicators.

When it comes to fees, altcoin trading commissions start at 0.01% per slide. The minimum trade requirement is 0.001 BTC or the altcoin equivalent. In addition to altcoins, PrimeXBT also supports other financial markets, including precious metals, indices, and forex. However, these markets are offered as contracts-for-differences (CFDs), which aren’t available in all regions.

Pros

  • A great option for trading altcoins on a mobile app
  • Charting tools have been optimized for smartphones
  • Specializes in leveraged perpetual futures
  • Also supports commodities, forex, and indices

Cons

  • Limited range of altcoins when compared to other exchanges
  • Doesn’t accept US traders
Visit PrimeXBT

12. eToro – Best Altcoin Crypto Exchange for Fiat Deposits

  • Altcoins Listed: 110+
  • Spot Trading Fees: 1% flat fee per trade
  • KYC Required? Yes
  • Available in the US? Yes (limited due to regulatory issues)

eToro is our top pick for first-time investors, thanks to its beginner-friendliness and extensive funding options. It accepts a variety of convenient payment methods, including debit cards, Skrill, ACH, and bank wires, with support for 17+ fiat currencies. The minimum deposit requirement starts from $10, and there are no deposit fees charged on USD payments.

etoro home page

eToro supports 110+ cryptocurrencies, including some of the best altcoins. This covers large caps like Ethereum, BNB, Dogecoin, Cardano, Solana, and XRP. Lower-cap tokens include Axie Infinity, Ondo Finance, Flare, Aave, and SushiSwap. The minimum trade size is just $10 per altcoin. However, customers based in the USA can only trade three crypto tokens – Bitcoin, Bitcoin Cash, and Ethereum.

We also love eToro’s copy trading tools. There are thousands of investors to choose from, and the minimum capital requirement is $200. It also gives you access to smart portfolios, which are pre-built and professionally managed by the eToro team.

Learn more

Pros

  • USD deposits are fee-free
  • Supports 17+ fiat currencies
  • A safe platform with multiple security measures

Cons

  • Altcoin trading fees of 1% per slide
  • High deposit fees on non-USD payments
Visit eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.

13. Bybit – The Best Altcoin Exchange for Trading Bots

  • Altcoins Listed: 740+
  • Spot Trading Fees: 0% maker/ 0.10% taker
  • KYC Required? Yes
  • Available in the US? No

Bybit is the second-largest exchange by trading volume and supports over 740 altcoins, including some of the best new cryptocurrencies to buy. This means you can often find the next altcoin gems before they explode. Moreover, Bybit supports a wide range of trading instruments, including fully automated bots.

bybit exchange home page

To take advantage of those, simply select the preferred strategy, and the bot will trade altcoins on your behalf. To make things even easier, you can pick an option suitable for your risk tolerance or the time you can spend on the charts, with bots categorized into Monitoring Effort tiers from low to high.

Bybit is also one of the best crypto exchanges for low trading fees. Spot trading and derivative commissions start from 0.1% and 0%, respectively, and you can use up to 200x leverage. The exchange supports fiat money deposits via credit/debit cards, bank wires, and third-party apps like Zen.com.

Learn more

Pros

  • More than 760 altcoins are listed
  • Spot trading fees start from 0.1% per slide
  • Up to 200x leverage on selected coins
  • Supports some of the best crypto trading bots
  • No KYC process when signing up

Cons

  • Lack of regulation from tier-one bodies
  • Doesn’t accept traders from the US
Visit Bybit

14. WEEX – Ideal Altcoin Exchange for Derivatives and Leverage

  • Altcoins Listed: 600+
  • Spot Trading Fees: 0.1% maker/taker
  • KYC Required? Optional
  • Available in the US? Yes

Another contender on our list is WEEX, which offers a platform for both spot as well as derivatives trading. It started with a focus on futures pairs and now supports more than 600 cryptos, including Bitcoin, Ethereum, and popular meme coins.

WEEX Exchange Homepage

WEEX features a competitive trading fee structure, with spot fees typically at 0.1% for both makers and takers. On the other hand, the futures rate is currently sitting at 0.02% for makers and 0.08% for takers. From a security perspective, the exchange claims to have a 1,000 BTC Investor Protection Fund alongside a transparent Proof of Reserves balance.

Moreover, WEEX claims to have a feature that helps reduce slippage by sharing liquidity during volatile market rallies. You can even use a relatively high trading leverage of up to 400x on some trading pairs. And for beginners, WEEX also offers a copy trading feature that lets you emulate professional traders’ strategies.

Learn more

Pros

  • Offers futures leverage of up to 200x
  • Competitive trading fees
  • Features a 1,000 BTC user protection fund
  • Large selection of 1,700+ trading pairs
  • Optional KYC

Cons

  • Limited fiat on-ramps
  • Smaller trading volume compared to top-tier exchanges
Visit WEEX

What is an Altcoin Exchange?


Altcoin exchanges allow users to buy and sell altcoins — any cryptocurrency other than Bitcoin. Some altcoin exchanges are aimed at long-term buyers who want to invest with fiat money. This means users can buy altcoins instantly with a debit/credit card or e-wallet. After that, the investor can withdraw their altcoins to a private wallet.

Alternatively, some altcoin exchanges are more suitable for active traders. These platforms offer advanced trading tools ideal for short-term strategies, such as comprehensive charts, drawing tools, and technical indicators. Some altcoin exchanges also support derivative products like futures and options.

This enables users to go long or short on altcoins with leverage. In all cases, altcoin exchanges make money from trading commissions. This averages 0.1% per slide, meaning a $1 commission is paid for every $1,000 traded. Ultimately, altcoin exchanges provide access to a wide range of cryptocurrencies, making them suitable for diversification strategies.

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How to Choose The Best Altcoin Exchange


There are more than 760 altcoin exchanges listed on CoinMarketCap. This makes choosing the best altcoin exchange a time-consuming task. We’ll now explain the most important factors to consider when selecting a suitable platform.

Highest Number of Altcoins Listed

The first metric to explore is the number of altcoins listed. Some exchanges support thousands of altcoins, while others list several dozen. Choosing an exchange with a large number of markets enables investors to build a well-balanced altcoin portfolio. For example, MEXC lists more than 2,500 altcoins.

altcoins by market cap

This covers a huge range of new cryptocurrencies with small valuations, making them ideal for growth investors. However, PrimeXBT and Margex list just 35 altcoins. These are established, large-cap altcoins like Ethereum, Solana, and BNB. This means investors won’t have access to up-and-coming projects with a higher growth potential.

Lowest Altcoin Trading Fees

Trading fees will vary widely between altcoin exchanges. Investors should prioritize exchanges with the most competitive commissions. This is the fee paid whenever a buy or sell order is executed. As such, commissions eat away at your potential altcoin profits. Exchanges with the lowest commissions are MEXC, OKX, Bybit, and Binance.

These platforms charge just 0.1% per slide. Moreover, reduced trading commissions are available when 30-day volumes increase. Some altcoin exchanges offer discounts when holding their native token. For example, MEXC and Binance are backed by MK Token and BNB, respectively.

Those looking to trade leveraged products, such as perpetual futures, should also explore financing fees. Leverage is a loan taken from the altcoin exchange, so interest is applied to the position size. Some altcoin exchanges charge financing fees daily, while others implement them every few hours.

Highest Trading Pair Liquidity

Investors should also explore liquidity when choosing the best exchange for altcoins. Put simply, exchanges with high liquidity ensure smooth trading conditions. This means buy and sell orders are matched promptly without vastly impacting prices. All of the altcoin exchanges discussed today offer sufficient liquidity.

However, this isn’t always the case when using less-established platforms. For example, consider a recently launched altcoin exchange that has limited trading volumes. If there isn’t enough liquidity in a particular market, an altcoin trader won’t be able to sell their tokens at a suitable price.

This means the trader might need to accept a sub-par price to force their sell orders through. CoinMarketCap is a good option when analyzing liquidity levels. It gives a liquidity score from 0 to 100 for over 760 altcoin exchanges. Binance ranks the best with a score of 859. After that, Kraken and Coinbase have a liquidity score of 732 and 708, respectively.

Discover how Kraken and Binance compare on other aspects in our Kraken vs Binance guide.

What Happens if There Isn’t Enough Liquidity to Sell My Altcoins?

  • If you’re using an altcoin exchange without sufficient liquidity, cashing out a profitable position can be problematic.
  • Just remember — another market participant must accept your sell order.
  • Reducing the sell order price is one option, as this can motivate buyers to enter the market.
  • However, if there aren’t any buyers at all, your sell order will remain pending.
  • In this instance, you could be forced to transfer the altcoins to an exchange with more liquidity.
  • This will increase the chances of finding a suitable buyer.

Support for Preferred Deposit Method

One of the biggest barriers for new altcoin investors is getting funds into an exchange. This means that new market entrants need to deposit fiat money, such as dollars or euros. Fortunately, the best altcoin exchanges accept a wide range of convenient payment methods. Fees will vary widely depending on the payment type and currency.

For example, eToro is the best option for instant deposits with US dollars. No fees are charged when using debit card, Skill, or any other supported method. However, eToro is expensive when using other currencies; FX fees start from 1.5% of the deposit amount.

Coinbase is an expensive option when using instant payment methods — fees cost almost 4%. However, Coinbase is ideal when depositing funds from a bank account. No fees are charged on local banking methods like ACH and Faster Payments. What’s more, bank payments typically arrive in under five minutes.

Trustworthiness and Security

Many altcoin exchanges have experienced hacks — sometimes resulting in hundreds of millions of dollars worth of stolen coins. In other cases, altcoin exchanges have collapsed because of internal fraud. FTX is the most notable example, with customers losing over $8 billion. With this in mind, trust and security should be prioritized when selecting the best altcoin exchange.

There are several aspects to consider. First, explore when the exchange was launched; more established platforms are preferred. Next, assess whether the altcoin exchange is regulated.

FTX court case

Another security check is ‘proof of reserves’, which became mainstream after the FTX collapse. Put simply, crypto exchanges should be audited by a reputable body and showcase their cryptocurrency reserves. Reserves should not only cover customer deposits but also be held in liquid coins, such as Bitcoin and Tether.

Account security features are also important. For example, eToro and Binance have made two-factor authentication mandatory. This means users must enter a unique code every time they log in. The code is sent via SMS or through the Google Authenticator app. Other security features to look for include IP/device whitelisting and anti-phishing safeguards.

Should I Keep my Altcoins in an Exchange?

  • Regardless of whether the cryptocurrency exchange is regulated and what security features it offers, the best option is to withdraw your altcoins to a self-custody wallet.
  • In doing so, you’re removing your altcoins from counterpart risks — such as hacks, scams, and fraud.
  • The altcoins you buy can be kept in a private wallet until you’re ready to sell.
  • You can then transfer the altcoins to the same exchange, sell them for fiat currency, and cash out to a bank account.

What Fees Do Altcoin Exchanges Charge?


Similar to online stock brokers, altcoin exchanges implement an assortment of charges. Understanding fees for the services you wish to use is crucial. Let’s take a much closer look at the fees charged when using an altcoin exchange.

Spot Trading Commissions

The most common fee is the spot trading commission. This is the fee you pay when buying and selling altcoins. It’s typically charged as a percentage of the overall trade size. As mentioned, the best altcoin exchanges charge commissions of just 0.1% per slide.

  • So, suppose you purchase $500 worth of Ethereum.
  • At 0.1%, you’ve paid a buy commission of $0.50.
  • A few weeks later, your Ethereum position has increased to $900. You decide to sell, so again, pay a 0.1% commission.
  • This means you’ve paid a sales commission of $0.90.

Many altcoin exchanges use a maker/taker model, which can be confusing for beginners:

  • Market ‘makers’ get the lowest commissions, as they provide liquidity to the exchange – these are limit orders.
  • Market ‘takers’ pay a slightly higher commission, as they use the liquidity that’s already available via market orders.

What’s more, altcoin exchanges typically use staggered commission structures, which can benefit high-volume traders. This means commissions decline as monthly trading volumes increase. For example, Binance reduces the commission from 0.1% to 0.06% when trading over $20 million within 30 days.

Derivative Trading Commissions

Derivative products attract different fees from the spot trading markets. You’ll notice that derivative commissions are usually lower. However, this is based on the total leveraged amount.

MEXC price chart

For example, suppose the altcoin exchange charges 0.01% when trading perpetual futures. You risk $1,000 with 20x leverage, amplifying the trade size to $20,000. At 0.01%, you pay a $2 commission (0.01% x $20,000).

Funding Fees

Derivative trading attracts an additional fee to the commission – the funding fee, which is used to keep derivatives prices as close as possible to spot prices. This fee doesn’t go to the exchange, but it’s rather paid between traders, depending on whether they hold long or short positions. Negative funding rates mean that shorts pay longs, while positive rates mean the opposite. Most altcoin exchanges collect and distribute funding fees every one to eight hours.

Fiat Deposit Fees

Altcoin exchanges can also charge payment fees when making a fiat deposit. This can vary depending on the currency and payment type, but you can generally expect to pay 1% to 5% of the deposited amount.

Withdrawal Fees

Withdrawing altcoins from an exchange will also attract fees. We prefer exchanges that mirror the actual network charge in real time. For example, suppose the Ethereum network currently charges GAS fees of 0.0013 ETH (about $4). The exchange should also charge 0.0013 ETH, meaning it doesn’t add a markup.

However, many altcoin exchanges have flat withdrawal fees, regardless of the current network charge. This will almost always end up costing you more. Just make sure the exchange doesn’t charge a percentage fee on withdrawals; this can make large payments unviable.

Conclusion – What is the Best Altcoin Exchange?


We’ve revealed the best altcoin exchanges in the market. Best Wallet is our top pick. It is a secure platform that supports over 1,000 altcoins and offers a user-friendly interface for both beginners and advanced traders.

Investors can deposit funds instantly with a variety of payment methods. Best Wallet also offers a secure altcoin wallet, not to mention copy trading tools and smart portfolios.

Visit Best Wallet

FAQs


Which exchange is best for altcoins?

Which exchange has the most altcoins?

Is it safe to hold coins on exchanges?

References

  1. Top cryptocurrency spot exchanges (CoinMarketCap)
  2. Elon Musk continues to tweet about altcoins like baby dogecoin—but investors should tread very carefully (CNBC)
  3. Phishing attacks: defending your organisation (NCSC)
  4. Bankman-Fried sentenced to 25 years for multi-billion dollar FTX fraud (Reuters)

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

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