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If, you’re looking to start buying, trading and selling altcoins, but not sure what the best altcoin exchange is? I know the feeling — there are hundreds of different exchanges to choose from, each with their own pros and cons.

But don’t worry, you’ve come to the right place! Today, I am going to give you a review on seven of the best altcoin exchanges, in which I’ll show you where to buy altcoins and how to buy altcoins with USD.

By the way, did you know that the first-ever altcoin to be created was Namecoin in 2011?

In this best altcoin exchange guide, I will review some of the top exchanges, highlighting their fees, security measures, coin availability, trading volume, and user-friendliness. So, once you have read through all seven exchanges, you will be able to decide which one best suits your needs.

Well... what are you waiting for? The first review in this best altcoin exchange guide will be covering the Gemini exchange!

Coinmama - A Top-Rated Choice

Best altcoin exchange: Coinmama.

Coinmama is a pretty well-known crypto exchange that was established all the way back in 2013. This makes the exchange one of the oldest, still-functioning platforms on the market - that's crazy to think about!

Coinmama is located in Israel, and is well-known for serving 188 different countries around the world. These include countries from Europe, Asia, and other parts of the world, with only a small list of restricted countries being present. By that extent, Coinmama also works in most US states, as well.

The exchange in question is considered to be reliable, secure, and well-established. Users can expect all of the common payment gateways to be present within the platform - you can purchase Bitcoin and altcoins via a credit or debit card, or bank transfers, as well. The entire process is very newbie-friendly, so if you've never bought crypto before, you needn't worry - there shouldn't be any hurdles along the way!

Coinmama is also often praised for having a really friendly and helpful support team, as well. While there's no direct live support via phone, you may submit an inquiry ticket, and you should receive an answer in 24 hours. That said, email support is for the days when Coinmama's support isn't working (Friday and Saturday) - any other day, from 9 AM till 6 PM (GMT+3), you can talk with an agent via built-in live chat, on their official website.

All in all, while Coinmama doesn't have all that many supported crypto assets, it will still offer users many of the main altcoins on the market!

Advantages

  • Top-tier security features
  • 188 supported countries, most US states are also supported, too
  • Fiat payments - accepted!
  • Beginner-friendly user interface

Disadvantages

  • A limited number of supported assets

Definitely an exchange worth looking into!

A Glimpse at Gemini

Gemini website frontpage

Gemini was created in 2015 by Cameron and Tyler Winklevoss. The twins are famous for suing Facebook founder Mark Zuckerberg for $65 million, as they say, that he stole their idea!

Gemini is based in New York and they hold something called a “BitLicense”.  This means that they are regulated in the same way as the banking industry, meaning that they take security very seriously.

As Gemini is also used by institutional investors, there are always high trading volumes, meaning that you will have no issues finding liquidity. Gemini also has good relationships with regulators, so they allow you to deposit and withdraw using a bank account.

Note: An institutional investor is somebody who invests on behalf of a large organization, such as a bank or a hedge fund. They normally invest very large amounts of money.

Before you're able to fund your account, you will need to complete a verification process. This will include entering your personal details and uploading a government-issued ID (such as a passport). Depending on how busy the verification department is, it could take a few days before your account is verified.

You are allowed to make up to 30 bank account withdrawals and 10 Bitcoin or Ethereum withdraws for free each month. Deposits are also free. Trading fees start at 0.25%, however, when you start trading with larger amounts, these fees are reduced.

However, one of the main disadvantages of using Gemini is that the only altcoin they list is Ethereum!

In terms of the platform itself, although there are lots of tools available for advanced users, the exchange is really simple to use, making it perfect for first-time buyers.

Advantages

  • Accepts bank account deposits and withdrawals
  • Registered with New York regulators so very good reputation
  • Excellent security
  • Very low fees
  • User-friendly platform
  • Good liquidity

Disadvantages

  • Only 1 altcoin available – Ethereum
  • Verification can take a few days

So, now that you know all of the advantages and disadvantages of Gemini, in the next part of this best altcoin exchange guide, I will review Coinbase!

Compare Crypto Exchanges Side by Side With Others

Did you know?

Compare Crypto Exchanges Side by Side With Others

All Crypto Exchanges may look similar to you but they're NOT all the same!

Yes! Show me the Comparison Chart

What About Coinbase?

Coinbase cryptocurrency dashboard

If you have been involved in the world of cryptocurrency for a long time, then there is a good chance you would have heard of Coinbase.

Created in 2011 and located in San Francisco, Coinbase has one of the largest trading volumes for Bitcoin. However, they also allow you to buy and sell three altcoins, which are Litecoin (LTC), Ethereum (ETH) and Bitcoin Cash (BCH)!

The platform is really easy to use, which makes it perfect for beginners. Not only this, but they have excellent customer service, which includes phone support!

One of the main reasons that people love Coinbase is because they allow you to deposit using a debit/credit card or a bank account.

Before you get started with fiat money, you will need to verify your identity. This is straightforward, as all you need to do is provide a few personal details and then upload a government-issued ID (such as your passport).

Security is also very good, Coinbase holds 98% of customer funds in cold storage and you also have the option of setting up two-factor authentication.

Note: Cold storage is when cryptocurrencies are held offline, with no connection to the internet. This makes them extremely secure and almost impossible for criminals to steal them!

One of the main disadvantages of using Coinbase is that it is only available in a select few countries. This includes Australia, Canada, Singapore, the U.S., and most E.U. countries.

Using a debit or credit card to deposit is also quite expensive at just under 4%, however, this is normal when using this payment method. Trading fees are also very good, with Coinbase charging just above the current market rate!

Advantages

  • Very basic platform – perfect for beginners
  • Accepts debit/credit cards and bank transfer
  • Cheap trading and withdrawal fees
  • Excellent security
  • Good customer support
  • Quick and easy verification

Disadvantages

  • Expensive fees for debit/credit card deposits
  • Only 3 altcoins available
  • Only accepts users from a few countries

So, now that you know the pros and cons of using Coinbase, the next part of this best altcoin exchange review will outline the features of Kraken!

Kraken

Kraken bitcoin exchange

Kraken is very similar to Coinbase and they also have a really basic platform, making it perfect for first-time buyers! Also created in 2011, they are one of the most popular altcoin exchanges for European traders.

Unfortunately, Kraken doesn’t allow you to fund your account with a debit or credit card, however, you can use a bank account if you are living in Canada, Japan, the U.S. or in most parts of the E.U.

Just like Coinbase, you will need to verify your account before you get started. If you are only depositing with a cryptocurrency, then you just need to provide basic information. However, if you want to use your bank account then you will need to provide additional details such as your address.

When it comes to trading fees, this will depend on the amount you want to trade and also on what altcoin you want to buy. This can be as low as 0.02% or as high as 0.26%. You can check each individual fee by clicking here.

Unlike Coinbase, Kraken has a really good selection of altcoins available, including Stellar Lumens, Ripple, ZCash and more!

Although there is no phone support available, you can request help through their live chat facility. However, there does seem to be a lot of bad reviews about the quality of their customer service.

Advantages

  • Accepts bank accounts for deposits and withdrawals
  • Very good selection of altcoins
  • Low trading fees, but can be quite confusing to understand the structure
  • Good security
  • Live chat support
  • Basic interface for beginners
  • Easy verification

Disadvantages

  • No debit or credit card deposits
  • Reports of poor customer service

Don’t worry if you haven’t made a decision on which exchange to use yet, we still have a few to go! The next section of this best altcoin exchange review is going to talk about Bitstamp!

Leaving a Mark With Bitstamp

Bitstamp websites frontpage

Bitstamp was created in 2011 and was originally based in Slovenia, but they now have offices located in many different countries. The platform is actually designed for more experienced traders. So, if you are still in your early days of cryptocurrency, then it might not be the best altcoin exchange for you.

However, they do have one of the highest trading volumes in the industry, so liquidity levels are really good. Nevertheless, one of the biggest advantages of using Bitstamp is that you can deposit funds using a debit/credit card, bank account, and cryptocurrencies too.

Deposit fees are different depending on what payment method you decide to use. Here is an example of what you will pay.

Debit cards: $10

Credit cards: 5%

SEPA: Free

International wire: 0.05% (minimum/maximum - $7.5/$300)

When withdrawing by international wire, the fees are quite expensive at $15, however, SEPA is only $0.90!

Trading fees are fixed at 0.25% for each transaction, but if you trade more than $20,000 in a single month, this goes down. The more you trade, the cheaper the fees, with the lowest being 0.10% if you are able to trade more than $20 million. Which is a bit out of my budget!

Although Bitstamp now has one of the best security systems available, the exchange has been hacked more than once, with the last time being in 2015. This particular hack was so serious that the criminal stole more than 19,000 BTC. Luckily, nothing has happened since.

Although the amount of altcoins available to buy is not as much as other exchanges, you can buy Ethereum (ETH), Bitcoin Cash (BCH), Ripple (XRP) and Litecoin (LTC).

One of the main disadvantages of using Bitstamp is that its verification process can be really slow. This is because they are trying to catch up from the huge number of account applications they had in December 2017! Some people have reported waits of up to two weeks, so if you are looking to start straight away, you might be best using a different exchange.

Another disadvantage of using Bitstamp is that their customer service can be really slow, with the team sometimes taking up to 3 days to reply.

Advantages

  • Accepts debit/credit card and bank transfer
  • Low withdrawal fees for SEPA
  • The good trading fee structure
  • Range of tools for advanced traders

Disadvantages

  • Long verification times
  • Only 4 altcoins available
  • Slow customer support
  • Although security is now good, has been hacked more than once
  • A platform might not be suited for beginners

So, what are your views on Bitstamp? Do they sound like the kind of exchange you want to use? If not, then read on! The next part of my best altcoin exchange review is going to discuss Poloniex.

Poloniex

Poloniex bytecoin exchange

Poloniex is a U.S. based exchange that was created in 2014 by Tristan D'Agosta. They are now one of the most popular exchanges to buy and sell cryptocurrencies and their list of altcoins is huge!

Trading volumes are also high, meaning you should never have any problems finding liquidity.

Unfortunately, one of the biggest disadvantages of using Poloniex is that it does not support fiat currencies. This means that instead of using your debit/credit card or bank account, you will need to fund your account with a cryptocurrency.

However, the good thing is that both deposits and withdrawals are free, other than the blockchain transaction fees taken to pay miners (which is normal when transferring cryptocurrencies). Like some of the other altcoin exchanges I have reviewed, their trading fees will depend on the amount you trade.

The most you will pay is 0.25%, with this being reduced to 0% if you are trading with large amounts. This is one of the reasons why Poloniex always has lots of liquidity.

Unless you are looking to trade more than $2000 per day, there are no requirements to submit identity documents, so you can start trading as soon as you open an account.

They also have a good customer service department, which includes a live chat facility for instant assistance. Furthermore, although the exchange has lots of trading tools, such as charts and graphs, the actual platform is really user-friendly.

As Poloniex is registered and located in the U.S., they actually have one of the best security systems in place. However, it is important to note that back in 2014, they experienced a big hack, where the hackers stole more than 12% of their total Bitcoin holdings.

This should remind you that no matter how good an exchange’s security is, your funds are never 100% safe.

Advantages

  • Very large selection of altcoins listed
  • Good customer service
  • S. based – have to make security a priority
  • User-friendly platform good for both beginners and advanced traders
  • Only pay blockchain fee for deposits and withdrawals
  • Trading fees are good – maximum of 0.25%
  • No verification unless trading more than $2000/day

Disadvantages

  • No fiat currency deposits and withdrawals
  • Had 12% of Bitcoin stolen in 2014

Now that you know all of the advantages and disadvantages of Poloniex, the next part of my best altcoin exchange guide is going to talk about Cex.io!

Cex.io

CEX.IO bitcoin exchange platform

Cex.io was launched in 2013 and is based in the UK. During their first two years of trading, they were both an exchange and a mining pool. However, since 2015, they have been 100% focused on their trading platform, let's explore if CEX has the potential to be called the best altcoin exchange.

One of the best features of using Cex.io is that you can deposit and withdraw funds using a bank account. If you are based in the E.U then you can use SEPA, but you must use international wire if you're based elsewhere.

There is a good number of different altcoins that you buy on Cex.io, with new ones being added all the time.

It is important to understand that the CEX.io trading system is slightly different from the other exchanges I have reviewed so far. This is because they process orders similar to a “fill or kill” trade.

A fill or kill trade is where the buyer either gets what they ask for, or the order is canceled. For example, if Peter wants to buy 500 ETH at $600 per ETH, the trade will only go through if Peter is able to get the entire amount at that price. Otherwise, the order will be canceled!

If you are only trading low amounts, this shouldn’t be a problem as there will always be enough liquidity to fill your order!

To deposit using fiat, you will need to complete a verification process. This includes uploading your ID and then sending them an image of you holding the ID! It normally takes Cex.io two days to verify your ID, so if you want to buy straightaway you might need to consider using a different exchange.

Depositing with a debit/credit will cost you 3.5%, but bank transfers are free! Withdrawal fees depend on which currency and payment method you use — click this link here to view the structure. Trading fees are quite expensive at Cex.io, as you will need to pay 7% on top of the current market price.

As a UK based company, security at Cex.io is very good and the majority of funds are held in cold storage.

Advantages

  • Accepts debit/credit cards and bank account
  • Good selection of altcoins
  • The UK based so excellent security

Disadvantages

  • High trading fees at 7%
  • Slow verification which can take up to two days
  • No phone or live chat support

It’s now time for my final best altcoin exchange review, which is going to be BitSquare!

BitSquare

BitSquare cryptocurrency trading platform

BitSquare is slightly different from the other exchanges I have reviewed so far as it is a decentralized exchange. This means that, unlike the others, there is no third party between the buyer and seller and no single authority has control over the network. Most importantly, the exchange never holds your funds.

First launched in 2016, BitSqaure allows users to not only exchange crypto-to-crypto-, but also crypto-to-fiat. There is no need to supply an ID or even any personal details, which allows you to trade anonymously! So, let's see if BitSquare could be the best altcoin exchange.

Once you have downloaded the software on to your device, you can buy and sell a good selection of altcoins such as Litecoin and Dash.

There are more than 20 different payment options available, such as a national bank transfer, SEPA, OKPay, and even cash deposit. Furthermore, if you use the third party payment processor Perfect Money, you can use your debit or credit card!

The trading fee system is quite complicated and depends on how much you plan to trade. According to their FAQ page, the minimum fee starts at 0.00005 BTC.

Because you are trading peer-to-peer, there are no deposit or withdrawal fees other than the blockchain transaction fee.

Although the platform interface looks very clear, it might take some time before you get used to the decentralized aspect of trading. This is why it might not be best suited for beginners. So, if it is your first time using BitSquare, make sure you start off with a small amount!

Advantages

  • Decentralized, so nobody holds your funds
  • Excellent security
  • A wide selection of altcoins
  • Excellent range of fiat payment methods
  • No identity verification – anonymous trading

Disadvantages

  • The complicated trading fee structure
  • The platform can be confusing for first-time traders

Table of Comparison

I have created a comparison table below of all of the exchanges mentioned above. This might make it easier for you to compare the above exchanges and help you decide the best place where to buy altcoins.

  Fiat Deposits Trading Fees User-Friendly? Security Altcoin Availability
Gemini Bank Account It depends on volume. Max = 0.025% Very Excellent Only Ethereum
Coinbase Debit Card & Bank Account Just above market rate Very Excellent uses cold storage Ethereum, Litecoin & Bitcoin Cash
Kraken Bank Account 0.02% - 0.26% Very Excellent use of cold storage Many Available
Bitstamp Debit Card & Bank Account 0.10% - 0.25% For Advanced Traders Hacked more than once 4 Available
Poloniex No fiat deposits 0% - 0.25% OK Good now, but was hacked in 2014 Many Available
CEX.io Debit Card & Bank Account 7% above market rate For More Advanced Traders Excellent use of cold storage Many Available
BitSquare More than 20 - Including Debit Card & Bank Account Depends on trading volume For Advanced Traders Excellent - Decentralised Many Available

Here is The Best Binance Offer I Found:

Conclusion

And that’s the end of my Best Altcoin Exchange guide!

I understand that it can be really difficult to pick a specific one, as they all have their own advantages and disadvantages! But at least you now know the best places where to buy altcoins and how to buy altcoins with USD.

And while some are perfect for beginners, others are good if you're looking to trade anonymously.

This is why I personally use more than one exchange. Sometimes I need an altcoin exchange that accepts debit card deposits, but other times I look for lower trading fees – it all depends on my trading goals!

Anyway, if you read my guide from start to finish, you should now have a good idea of the good and bad points of each of these popular exchanges! Maybe you know a better place to buy altcoins which I haven’t listed here? If so, let me know in the comments below what is your best altcoin exchange!

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

About Article's Experts & Analysts

By Aaron S.

Editor-In-Chief

Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era. W...
Aaron S., Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
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Recent Best Altcoin Exchange User Reviews

lionessqueen185

5.0/5.0 - Bitfinex User
12/02/2024

i admire them

i think what they do when something goes wrong says more about them as a company than what they do when everything is floating good ya know and they gave that money back so kudos to them

Evaluation

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Saara Stevens

5.0/5.0 - CEX User
09/04/2024

Great for beginners

My start on the platform was easier that antcipated. The support section was very informative and resources were easy to understand as a new trader. Now can navigate and trade with ease!

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H Kaye

4.8/5.0 - Coinmama User
13/03/2024

high fees

i knew that every exchange charges fees, but on coin mama it really ads up. at least the withdrawls are free

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Natalie

5.0/5.0 - Bybit User
09/02/2024

CRYPTO WALLETS???

i had NO IDEA crypto wallets existed, this is REALLY helpful information

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Myrtle Chambers

4.6/5.0 - Bybit User
25/01/2024

Since it is so great...

Could be a bit easier to learn.. But must be so difficult... Having so many amazing resources, we have to do our part as well and study a bit of the features...

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Ammar Cano

4.8/5.0 - Coinmama User
01/02/2024

That's it?

Somehow I expected coinmama to have more than 10 coins. I was hoping a wider variety to choose from. I really hope in the future they will add more...

Evaluation

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Nelson Harper

4.0/5.0 - Huobi User
10/04/2024

Amazing!

I only found it a little difficult to use when I browsed through their website, but I only started researching about crypto yesterday, so it's a loooooooooot of info to grasp! x.x

Evaluation

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Chester-jr

5.0/5.0 - Coinmama User
16/01/2024

beginner trading

for the first year of trading coinmama was more than enough for me

Evaluation

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P. Watson Jr

5.0/5.0 - Coinbase User
01/02/2024

Senior user

Very glad I chose this platform from the get go, the recommendations and positive feedback enticed me. All of it still holds up after years of trading, I only have hard time catching up to all the new updates and improvements, so reading acticles like this binance review makes the process easier. Overall though, the basic funtions and options are often more than enough for majority of users.

Evaluation

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Florence Nightingale

5.0/5.0 - Bitfinex User
23/03/2024

Good support

Great support, always reply faster with solution, they are best

Evaluation

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Ease of Use
Experience
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blacklivesmatter334

5.0/5.0 - Bitfinex User
24/03/2024

sounds legit

has a great platform, tons of options for trading

Evaluation

Price value
Ease of Use
Experience
Features
Safety

Shana Thomson

5.0/5.0 - Binance User
17/02/2024

Waiting for my prizes

Have been actively trading for few years now and think that i should be eligible for prizes. I know people who have won free crypto. Still waiting for my turn, BINANCE! :))

Evaluation

Price value
Ease of Use
Experience
Features
Safety

Stubbs Adam

4.8/5.0 - CEX User
20/03/2024

First time user

The basic account was more than enough for the first few months trading. Then after some time I got started doubting that my account was safe, thus I verified

Evaluation

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F.Atkins

5.0/5.0 - Coinmama User
04/04/2024

Easy to use

Very accessible due to fiat payments, not many exchanges offer this option...

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M. Carney

4.6/5.0 - Bitstamp User
04/04/2024

Experienced

I had trading experience so it was easier to figure out how to use this exchange, but wouldn't recommend it to first time traders.

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SANIA

5.0/5.0 - Coinbase User
29/01/2024

ALL IN ONE

Multi-functional platform! Facilitates the essential functions that other exchanges fail to provide.

Evaluation

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W. Clark

4.2/5.0 - Bitfinex User
30/01/2024

quite hard

Need proper guidance for a beginner like me

Evaluation

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rodrigo mota s.

4.8/5.0 - Bitfinex User
13/03/2024

For Sure

There is A LOT OF room for improvement in terms of user experience

Evaluation

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Ease of Use
Experience
Features
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Linzi Dawson

5.0/5.0 - Huobi User
19/02/2024

All I need

The functions are enough for my current needs..A very good Bitcoin trading platform!

Evaluation

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taslima booker

5.0/5.0 - KuCoin User
24/01/2024

satisfied

props to ku coin for enabling anomynous trading while still maintaining security throughout the exchange platform

Evaluation

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Leave your honest Best Altcoin Exchange review

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FAQ

What is the best altcoin exchange?

Many of the best altcoin exchanges are going to be the same as the best crypto exchanges in the industry, overall. These would include the likes of Binance, KuCoin, and Kraken. The actual best option for you will depend on your own, personal situation, as well as a few other variables!

How are altcoin exchanges different from any other crypto exchange?

To put it frankly, the best altcoin exchanges don't really differ all that much from the best crypto exchanges, in general. As you might notice, there's a lot of overlap! However, when it comes to altcoin exchange platform, the number of supported crypto assets on that particular exchange becomes a very important metric!

How to pick the best crypto exchange for yourself?

Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally. For example, all of the best exchanges should possess top-tier security features, but if you're looking to trade only the main cryptocurrencies, you probably don't really care too much about the variety of coins available on the exchange. It's all a case-by-case scenario!

Which cryptocurrency exchange is best for beginners?

Reading through various best crypto exchange reviews online, you're bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn't encounter any difficulties with either of the top-rated exchanges. That said, many users believe that KuCoin is one of the simpler exchanges on the current market.

What is the difference between a crypto exchange and a brokerage?

In layman's terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman - it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” - you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity.

Are all the top cryptocurrency exchanges based in the United States?

No, definitely not! While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. KuCoin or Kraken), there are other very well-known industry leaders that are located all over the world. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.

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