Nowadays, everybody seems to be trading or investing in cryptocurrencies.
Presently, Ethereum, Litecoin, Cardano, PolkaDot, USDT, etc., are the top altcoins in the market but not everyone is aware of the best ways to trade them.
4 Top Altcoin Exchanges in 2021
More than 200 million individuals from all across the globe use this exchange, and half of them come for altcoins only.
Binance deals with 375+ altcoins. Surprisingly, the trading commission here remains at 0.10%.
Binance currently supports more than 45 fiats for exchange with both Bitcoin and altcoins. When you approach this exchange, you get a plethora of options for payments.
Some are through debit cards, credit cards, PayPal, Wire, SEPA, and bank transfer. You can directly HODL your cryptos with a Binance account or within an individual wallet.
If you are just getting started in the world of cryptocurrencies, you should look for Kraken in 2021.
Kraken is the only exchange that has never been hacked.
This is what makes it one of the most popular platforms to trade cryptocurrencies on. Presently, Kraken is dealing with 70 altcoins besides Bitcoin.
Of course, Ethereum, Litecoin, XRP, USDT, PolkaDot, Cardano, Monero and other well-known altcoins are included.
Kraken supports payment options like SEPA, FedWire, and Swift. The trading commission is at 0.26% for both Bitcoin and altcoins. Only 7 fiat options are available with this exchange so far.
3. Houbi Global
Register with Huobi Global and get an opportunity to trade 300 altcoins in the market.
Presently, the daily trading volume of this exchange is $3 billion. One reason why this exchange is not the first one on the list is that it has to compete with Binance and Kraken.
Binance and Kraken have about 200 million visitors per month, while Houbi Global has only 9 million visitors. The two deposit options available are bank transfer and credit card, although the exchange has 50 localized payment options. You pay a 0.20% trading commission for every trade with Houbi Global.
The last exchange that deals impartially with altcoins is Bitfinex. Presently, Bitfinex is supporting payment options with a credit card and bank transfers.
Many people face problems with this exchange because it puts restrictions on trading limits.
Bitfinex offers trading with more than 300 altcoins, and it receives 6 million visitors per month on average.
The trading commission is 0.20%. Bitfinex lacks the billion-dollar daily trading volume that others have. Only four fiat options are available at present. Anyways, if your fiat is not included, you can choose to go for the crypto-to-crypto option.
While choosing an exchange, you should consider the security practices of the platform. In terms of security practices, we have already noticed that Kraken is the top performer. Kraken spends most of the funds on security rather than UI and UX.
Binance measures well with metrics of volume. You have an option to trade with more than 375 cryptocurrencies.
Besides the exchanges I have mentioned above, many crypto platforms share news and updates that are beneficial to you. If a platform comes with a cryptocurrency news calendar, it is generally better. A Crypto news calendar organizes updates for every date when any important event or announcement occurs.
Every reputable crypto exchange platform follows the KYC norms placed by the countries where they are operating. If any exchange is not following the rules, it could be an unreliable one.
Many people do not want to show their personal details while trading cryptocurrencies, so they should consider a DEX. It's best to choose an exchange based on the trading commission. Among all, Binance is charging the least amount for fees with the most trading options available.
In this article, we have reviewed four of the best altcoin exchanges for this year. As the number of cryptocurrencies is growing, more and more exchanges are showing up in the market, and this is likely to continue.