Best Altcoin Exchanges Of 2022

Diversifying your portfolio is always a wise decision, and for that, there are many cryptocurrencies and altcoin exchanges offering them. Many of these trading platforms either charge a lot of fees or lack in supporting a wide range of cryptocurrency trading pairs which disappoints you.

When it comes to diversification, the more, the better isn’t it? So that is why I am here to help you choose the best altcoin exchange that will fit your trading strategy like a charm, will offer a wide range of assets as well as is pocket friendly.

Best Altcoin Exchanges

So without any further delay, let’s begin.

  • Bybit
  • Phemex
  • Kraken
  • Binance
  • eToro
  • Coinbase
  • Gemini
  • LocalCoinSwap
  • KuCoin
  • Robinhood
  • Huobi

#1. Bybit

bybit ui

Headquartered in Singapore in 2018 is the crypto exchange for altcoin trading. It is among the best-centralized cryptocurrency exchanges with minimum exchange fees. There are currently 10 million users on Bybit, which lets you start trading in mere minutes.

Bybit offers a wide range of crypto trading products as well; some of the major ones are:

  • Spot Trading
  • Derivatives Trading
  • Buy Crypto
  • Options Trading
  • Bybit Earn
  • Mobile App

You can also use the following order types to get the best out of the market:

  • Market Order
  • Limit Order
  • Conditional Order

Bybit supports more than 119 crypto assets, including all your favourites and the major altcoins and offers up to 100x leverage. The platform has a categorized fee structure which follows a maker/taker fee model.

For Non-VIP, the taker fee is 0.10%, and the maker fee is 0.40%. As the VIP level increases, the fees gradually decrease. The level depends on the 30-day trading volume and KYC level of the trader.

Bybit has an impenetrable security system; it spends 20% of its annual budget, which is significantly more than the industrial average. Its servers store all the deposit addresses in cold wallets worldwide with an advanced encryption system.

In addition to this, Bybit also has a rigid and regulated policy regarding system security, crypto-asset consolidation, monitoring, operations and audit. Bybit also integrates two-factor authentication and SSL encryption for a safe and secure user experience.

The platform provides support through live chat and email in multiple languages like English, Korean, Russian, Chinese, Japanese, Spanish and Vietnamese, which is helpful for users worldwide.

 

#2. Phemex

phemex ui

On the newer side is Phemex, launched in early 2019; this crypto exchange has done a phenomenal job in conquering the market in a concise period. The team behind its success has decades of experience in the industry and includes ex-Morgan Stanley executives.

Phemex is headquartered in the British Virgin Islands and has several offices worldwide, including Singapore.

This altcoin exchange offers services in more than 200 countries worldwide and constitutes more than 5 million retail investor accounts registered globally with several high-volume traders in the majority, contributing to a 24h trading volume of more than $10 billion.

The platform currently offers more than 294 crypto pairs and up to 100x leverage which is provided through different trading products; some of them are:

  • Spot Trading
  • Contract Trading
  • Phemex Academy
  • Crypto to Crypto Trading
  • Earn Interest
  • Mobile App

This platform is integrated with more than 30 liquidity providers unlike most crypto exchanges, using a fair price mechanism that helps prevent forced liquidation when the margin gets below the maintenance margin level.

It executes more than 300k orders per second. Trading fees on Phemex are 0. Instead, there are membership fees of $9.99 per month and charges 0.1% for every transaction for a standard user.

Security and Customer support are also top-notch, with a fortress-like safe ecosystem for the beginner as well as advanced traders.

 

#4. Kraken

Kraken

Another prominent name among the best altcoin exchanges is Kraken. It was founded in 2011 by Jesse Powell and launched its trading services two years later in 2013.

Kraken initially offered services to trade Bitcoin and gradually started offering a substantial digital asset collection.

The platform is available around the globe in more than 190 countries except in Afghanistan, Iraq, Japan, North Korea, Cuba, Guinea-Bissau, Iran, Tajikistan, and two states of the United States, New York & Washington Area.

And residents of Texas and New Hampshire cannot hold or deposit Euro and trade in any EUR pair.

Kraken currently supports more than 185+ crypto assets with a quarterly trading volume of more than $207 Billion connecting more than 9 million registered clients worldwide. The platform offers a wide range of products for variable trading strategies for the beginner as well as advanced traders; some of them are:

  • Margin Trading
  • Futures Trading
  • Over-the-Counter Trading
  • Cryptowatch
  • Staking

Kraken’s transaction fees also depends on the trading volume, where the market maker fee varies between 0.16% to 0%, and the taker lies between 0.26% to 0.10%. The maximum leverage available on Kraken is up to 5x.

Kraken has 3 different account levels, starter, express, intermediate and pro. Depending on your account’s verification level, your account level is determined as well, as the deposit and withdrawal limit is set on the platform.

There are also multiple payment methods supported on the platform which you can use to fund your wallet; these are:

  • Using fiat currency through different modes of bank transfer and wire transfer requires a processing time of 1-5 business days.
  • You can also fund your account using cryptos directly supported on the platform.

Kraken also offers fortress-like features providing you safe and secure ecosystem for crypto trading. It is equipped with geographically distributed cold storage of crypto funds; you can also enable two-factor authentication for additional security of your funds.

There are also email confirmation and SSL encryption that adds an extra layer to the security of your account.

Kraken provides 24×7 support through a live chat feature with a client engagement specialist to solve your specific issues.

#5. Binance

binance cfd

I am starting with one of the most renowned cryptocurrency exchanges for altcoins, Binance. The company was founded in 2017, originally in China and is headquartered currently in Malta.

Binance is a well-established name among centralized exchanges for altcoins, with more than $2 billion in average daily volume. The platform executes more than 1.4 million transactions per second which are huge numbers compared with the industrial average.

Binance offers the world’s leading blockchain ecosystem with a product suite that includes the largest digital asset exchange.

There are more than 90 million registered traders of this platform globally, offering a significant and unmatched portfolio of financial product offerings. Some of these primary products are:

  • P2P Trading
  • Leveraged Trading
  • Vanilla Options
  • Futures Trading
  • Over-the-Counter Trading

The company offers its native coin, BNB and more than 350 crypto coins are listed. Binance offers up to 100x leverage, you can start with funding your account, verifying your identity, and that’s it. KYC is mandatory on the platform, and the fee structure depends on your account’s verification level and 30-day trading volume.

Binance follows a flat fee structure; each trade carries a standard fee of 0.1%; you can even waive this fee by using BNB to pay the fees.

The maker and taker fees for the VIP 0 account level are 0.02% /0.04%. Using BNB would reduce it to 0.018%/0.036%. There are, in total, 9 VIP levels, which further minimizes the fees.

Binance crypto exchange has advanced as well as intuitive trading and charting systems which are easy to use, informative and precise.

It comes with top-notch security features, two-factor authentication, device management, wallet address management and many more.

Binance also offers 24/7 customer support with a compliant and dedicated team providing support in 40 different languages. The platform uses a mark price mechanism to prevent unnecessary liquidations.

So without further thought, get your hands on this fantastic cryptocurrency exchange and start making hefty profits.

 

#6. eToro

eToro

Next on the list is eToro, another popular option for crypto enthusiasts worldwide. It was founded in 2007 under the name RetailFX in Tel Aviv as an online forex broker. eToro entered the crypto market with BTC trading back in 2014, which allowed its users trading CFDs.

Gradually it entered the crypto market and offered a full-fledged trading ecosystem for both beginner and advanced traders worldwide. The platform offers more than 60 digital assets and a varied product collection to fit variable trading strategies; some of these are:

  • CFD Trading
  • Copy Trading
  • Crypto Staking
  • Margin Trading
  • Over-the-Counter Trading

The maximum leverage on eToro is upto 50x. You can also integrate these products with numerous order types to take maximum advantage of the market; these are:

  • Market Order
  • Limit Order
  • Fill or Kill Order
  • Immediate or Cancel (IOC)
  • Good till cancelled (GTC)
  • Iceberg Order

Each time you open a position, the platform charges a flat 1% fee when you buy and when you close again, a 1% sell fee is charged. The fee is adjusted automatically according to the price of the particular asset.

A flat $5 fee is also charged as a withdrawal fee. However, there is no management or any commission charged for copy trading.

KYC is mandatory on eToro for registering on the platform to enhance the security of your account. eToro is a reputed platform that uses cold and hot wallets, reducing the chances of losing funds due to cyber attacks. Additionally, eToro also provides two-factor authentication.

Plus, the platform also offers dedicated customer support through help centres and support tickets. So what are you waiting for? Get your hands on this fantastic altcoin trading tool and skyrocket your profits.

 

#7. Coinbase

coinbase

Next up is Coinbase, which has remarkably flourished in the crypto market and offers a crazy compilation of features and great pricing among leading exchanges. The platform was founded in 2012 and is based in San Francisco, making it one of the oldest cryptocurrency exchanges in the world.

This platform is available in more than 100 nations with more than 80 million registered crypto users worldwide. Currently, it offers only spot trading capabilities with up to 3x leverage which has been constantly regarded as the best in the industry.

Coinbase charges a 0.5% spread for its spot trading market. However, the rate is stable as it can go higher or lower according to market fluctuations. Fees also vary significantly when it comes to Coinbase Pro account holders. To trade using the Pro account, balances under $10,000 attract a 0.5% taker fee, while those who hold crypto assets worth over $2 billion only have to pay 0.04%.

Additionally, it charges a 1% fee for conversion and withdrawal of your crypto in fiat currency. There is also an additional network charge for transactions processing via the decentralized blockchain network.

coinbase ui

When you use Coinbase, deposit fees will depend on your payment method and vary from place to place. You can fund your account directly via your bank account or your credit or debit card. Coinbase does a great job when it comes to security. 98% of trader’s funds are kept offline in different cold storage facilities worldwide.

Coinbase also mandates two-factor authentication and biometric verification for signing into the account and accessing your private keys. Since your funds are primarily held in the U.S., you get FDIC insurance covering up to $250,000.

Regarding customer support, Coinbase guarantees a 24-hour email response time to ensure you don’t have to wait for ages to resolve your issues. It also offers an instant chat box that operates within U.S. business hours.

 

#8. Gemini

gemini ui

Another prominent name in the cryptosphere among major exchanges for altcoin trading is Gemini. It was founded in 2014 by the parent company Gemini Trust Company LLC. It is a New York-based centralized exchange supporting over 100 digital currencies.

Gemini has all the necessary tools for both experts and novices. Execute your trading strategies with its own professional-level crypto trading platform, ActiveTrader. Gemini comes with a vast number of products; some of them are:

  • Gemini Credit Card
  • Gemini Web Exchange
  • Gemini Staking
  • Gemini Custody
  • Crypto Wallet

Gemini is available in 50 U.S. States, and its transaction fees again follow a maker/taker fee model and depend on the 30-day trading volume varying between 0.40% to 0.03% for the taker and 0.20% to 0.00% for the maker. There are 7 different fee schedules other than trading fees associated with each trade. These are:

  • API fee schedule
  • Mobile fee schedule
  • Web fee schedule
  • Active trader fee schedule
  • Transfer fee schedule
  • Connectivity fee schedule
  • Market data fee schedule

To understand them in detail, click here. Gemini has a higher trading fee, but the functions and features it comes with are commendable for sure. It has mandatory KYC and AML procedures; however, no limits or tiers make it compulsory for each trader to be verified.

It does a great job regarding security with cold storage of users with FIPS 140-2 level 3 rating or higher. Gemini also implements two-factor authentication and hardware keys to prevent unauthorized users from accessing your account.

Customer support is also quite helpful and provides live chat and email support. You can also visit its contact page and click on the chat box in the bottom right corner to talk to an agent. You can also submit a request or raise a ticket. They also have help centre with various support articles and FAQs.

 

#9. LocalCoinSwap

LocalCoinSwap ui

Next on the list is LocalCoinSwap, launched in 2018 and was the first community-owned P2P exchange in the world. It is headquartered in Hong Kong. It has one of the broadest collections of trading pairs compared to other P2P platforms.

More than 190+ fiat currencies and 20+ crypto are supported on the platform. It enables you to instantly buy and sell digital currencies with other traders from around the globe.

LocalCoinSwap is a brand for decentralized exchanges; for its trading fees, if you post an advertisement, you need to pay 1% of the total amount of the trade, whereas if you respond to one, that’s free. In case of withdrawal fees for every DASH withdrawal, it charges 0.0005 DASH.

LocalCoinSwap offers an esteemed customer support service. Here, you can quickly raise a ticketed request for any of your queries. They also have a comprehensive FAQ section to answer commonly asked questions. They are also available on multiple social media platforms like Reddit.

With 95% of the user’s funds stored in offline cold wallets. They also have two-factor authentication, Escrow services, and KYC verification by default on the platform.

 

#10. KuCoin

KuCoin

KuCoin is yet another leading cryptocurrency exchange that has conquered the crypto market in a very short time and has established its name with other major exchanges across the world. Founded in 2017, KuCoin is a Singapore-based crypto exchange available in more than 200 countries and constitutes more than 20 global communities.

It supports over 50 fiat currencies and is ranked 3rd in the global ranking of cryptocurrency exchanges with more than $1 trillion in accumulated trading volume which is sufficient trading volume compared with most exchanges. KuCoin supports more than a whopping 700 cryptocurrencies. It comes with inbuilt tools and features for dedicated crypto trading for both beginner and advanced crypto investors.

There is also a broad range of products supported on KuCoin that attracts many traders worldwide. Some of the major products are:

  • Spot Trading
  • Margin Trading
  • Futures Trading
  • Crypto Lending
  • Trading Bot
  • KuCoin Wallet
  • P2P Trading

Maximum leverage on KuCoin is up to 100x. The trading fees structure follows a maker/taker fee model in coordination with tiered segregation. There are 12 levels, starting with level 0, where the 30-day trading volume is less than 50 or 0, the fee is 0.1%/0.1% using KCS ( KuCoin’s native coin), further decreasing fees to 0.08%/0.08% these fees then gradually decrease as the trading volume increases.

You can register on KuCoin and start trading without completing KYC verification; however, you will have a limit of 1 BTC on withdrawals. You can withdraw up to 200 BTC daily when you complete KYC verification. Also, KYC verification increases your daily P2P trading limit, meaning you get more from the platform once you verify your identity.

There are 4 levels of trader accounts on KuCoin regarding KYC verification: unverified, KYC 1, KYC 2 and institutional KYC.

KuCoin also has top-notch security features. It keeps the majority of your funds in cold storage with military-grade multilayer encryption. It also encourages you to enable two-factor authentication on your accounts.

Additionally, You can also set various security questions that will be asked when you take notable actions such as password changes, withdrawals, etc. The platform manually authenticates all withdrawal requests and sends email and push notifications for significant account actions.

KuCoin also has a reliable yet pretty responsive customer support team and offers support via its comprehensive help centre with a live onsite chat option. They also have a FAQ section with most solutions to your queries.

KuCoin also has a reputable presence on various social media channels like Facebook, Telegram, Twitter, and Reddit.

 

#11. Robinhood

robinhood

Another prominent name among the best altcoin exchanges is Robinhood. It is a decentralized exchange, meaning there is no central authority in control, and your personal information remains with you. Robinhood was introduced in 2015 and is California based.

It is a commission-free altcoin exchange platform that charges zero fees for opening, maintaining, or transferring funds to your account. However, it charges you fees on a monthly or yearly subscription basis, depending on your account level.

The platform has 3 levels of accessibility on its platform. The first level is when you register; your account will be at the Robinhood Instant level by default, where you can instantly deposit up to $1,000 and extended trading hours.

The subsequent level is Robinhood cash, where you can immediately deposit up to the first $1,000. Though, you will not have instant deposit access to any amount more than $1,000 and trading with unsettled funds from securities you’ve sold.

The final level is Robinhood Gold; it is similar to the first level but comes with margin and more significant instant deposits. To enable this level, you need to pay $5/month.

It offers a variety of crypto trading products as well; some of them are:

  • Brokerage
  • ETFs
  • Options Trading
  • Cryptocurrency Trading

And you can combine these products with Market and Limit Order. Robinhood has a bulletproof security system as well. You can log in using face or fingerprint recognition or a custom pin. Additionally, you can opt for two-factor authentication, which is highly encouraged by the platform.

New logins or unrecognized devices require verification through a six-digit code sent on your phone’s text message or email. As this exchange is a member of the Security Investor Protection Corporation (SIPC), it has default protection of up to $500,000 for its user’s security.

Customer support on Robinhood is quite robust; the support is available on their application with a chatbot capability. You can enter your phone number if you have other queries that the bot could help you with. You can also contact them via Robinhood’s official social media platforms.

#12. Huobi

Huobi

Next on the list is Huobi, founded in 2013. It is a Beijing- based cryptocurrency exchange. However, In 2017 due to some regulatory modifications, the company was incorporated in Seychelles with headquarters in Singapore.

The platform is currently available in more than 100 nations and offers more than 500 assets and up to 200x leverage in trading cryptocurrencies. There are over 10 million users on the platform with 200+ regional service centres, so you know Huobi is not going anywhere.

It offers a wide variety of crypto trading products as well, which include:

  • Spot Trading
  • Margin Trading
  • Trading bot
  • Futures Trading
  • Crypto Loans
  • Crypto Purchases

On Huobi, the trading fees depend on the 30-day trading volume as well as H.T. holdings and are categorized between normal and professional users. Further, the fee follows the maker/taker fee model that varies between 0.0362% to 0.0097% for the maker and 0.0462% to 0.0193% for the taker for professional types (> 700 BRC or >2000 H.T.).

For normal users (<1000 BTC or <5000 HT). However, I must say that trading costs on Huboi have higher trading fees than on other exchanges.

Huobi is a pretty solid platform with robust and fortress-like security features. It stores most of your funds in cold storage wallets and offers features like two-factor authentication, SSL encryption, I.P. whitelisting and even more.

Regarding customer support, Huobi has a comprehensive FAQ section with a blog that provides the latest news, guides and articles. The platform also has a helpful and quick customer service portal where you can raise tickets for all your queries.

Which crypto exchange has the most altcoin?

KuCoin has the widest range of altcoins supported on the platform. With over a whopping 700 crypto assets readily available on the exchange and seamlessly integrated with all the trading products and order types of the crypto exchange.

Which is the best altcoin exchange for U.S. traders?

Kraken is the best option for U.S. traders, as it offers the perfect balance of products, order types and cryptocurrencies as well as charges relatively low trading fees.

The platform also provides unmatched security features with insurance of user funds. So what are you waiting for?

How do I pick the best crypto exchanges?

In order to choose the best crypto exchange, there is a specific criterion you should follow.

  • Fees

The primary step is being aware of the fees the platform you are trading altcoins is charging you. The platforms I have enlisted are transparent and charge minimum fees than the industry standards.

  • Assets supported

When it comes to crypto trading, diversification is the key and talking about supported assets, the more, the better.

All the altcoin exchanges that I have enlisted here offer a wide range of cryptocurrencies to choose from.

  • Products

It is one of the essential features to check so that you can diversify your portfolio even further, which is never a wrong decision.

Trying different products lets you explore and grow in the market.

  • Order Types

There are different order types as well, which you can use in different market situations that which you can use to take full advantage of the market and limit the market risk.

  • Available Liquidity

It is always important to check for liquidity that an exchange provides so that it is easy for you to swap crypto holdings into fiat currency whenever you feel to do so, giving you complete control over your investments.

All the exchange platforms I have enlisted do the right job of providing you with deep liquidity.

  • Safety

Safety is the utmost priority because it is your investment that you are trusting the exchange with. And don’t worry, I have already taken care of that for you; all the exchanges I have enlisted are highly secure and trustworthy.

Are cryptocurrency exchanges safe?

All the exchanges I have enlisted here are the safest and most reliable crypto exchanges in the world.

All of them are equipped with top-notch security features together with KYC and AML procedures to ensure complete control and safety of your trades as well as crypto holdings.

Most of them are also insured, giving you an extra assurance of security of your funds. They use cold wallet storage in accordance with the hot wallet to keep you safe from cyber attacks or hacks as well.

Conclusion

Crypto exchanges facilitate your overall trading experience, to name a few. They aid you with easy transactions and provide incredible security as well as control over your investments. Using a safe and trustworthy platform is a must which is the reason behind this article to help you choose the best.

All these exchanges are well-established, trustworthy and are the best cryptocurrency exchanges, go check them out; I am sure you won’t be disappointed.

If you have any questions, please drop your queries in the comment section below.

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Jack Bailey

I am John, a veteran trader turned into a trading coach. Especially in the realm of cryptocurrency derivatives which is now booming and expected to grow big.

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