The name altcoins may not be as popular as cryptocurrency, but there’s actually nothing complicated about them. At least, anyone who knows about the latter to a great extent understands the former. The internet today is awash with different sided tales of virtual currencies. They emerge everyday; fast and furiously disrupting what people have known as money. In the years passed, people would gladly pay for items using cash money. Over time, things transitioned to use of bank cards but now, cryptocurrencies are here with us.
So many people have handed or interacted with cryptocurrency either as an investment or means of completing transactions. Altcoins is one category of cryptos that has so many coins in it. For more details about altcoins and what they are you can have a read of our article on differences between altcoins and bitcoin.
Having the urge to start on altcoin investing or trading? No guesswork about this-the cryptocurrency exchange remains an unavoidable first point of call. As the name clearly suggests, exchanges are where your fiat currency gets changed for an equivalent value of altcoins. Legendary altcoin traders or even those who started trading recently but have gotten a hang of the industry know too well where it goes wrong. If one of them is honest and close with you, he or she will always emphasise the need to choose the best altcoins exchange. We promise to give you a quick guide on best exchanges for bitcoins but let’s have a brief overview of cryptos and altcoins in general.
Reality check on cryptocurrencies today
Even amidst recent setbacks in the cryptocurrency industry as seen in the tumbling of bitcoin prices, crypto trading and exchanges have remained popular. Cryptocurrency is the current existing new asset class for investors who are enthusiastic and are perceiving greater returns.
Cryptocurrency requires a clear mind that is willing to invest extra time to study and understand the market operations. You don’t need to be a genius to understand cryptocurrency trading. All that you require is to understand the basics and learn the cryptocurrency market operations and know where, what and when to invest.
Altcoins is a new set of cryptocurrencies that have set in after the most popular crypto in the industry, Bitcoin. Altcoins represent the other cryptocurrencies that are not Bitcoin. There is no doubt that some of these altcoins have gained a massive popularity already and are giving Bitcoin a run in its own game.
Most investors are now considering investing into these popular altcoins like Ethereum due to its tremendous growth pattern. Therefore, numerous exchanges exist and offer a variety of these altcoins. However, each exchange platform has arrived with its own features. Let’s have a look at some of the best altcoin exchanges in this chapter.
Cryptocurrency Exchange
A cryptocurrency exchange can therefore be simply defined as an exchange for buying and selling cryptocurrencies. In some scenarios it is a website while on others it can be an application that allows you to create a user profile. With a cryptocurrency exchange account, you can be able to deposit money and trade in your desired cryptocurrency.
Most cryptocurrency exchanges can also allow you as a user to buy other assets like shares, other securities, and exchange various cryptos. But before making a choice for a crypto exchange, you must first find out if it registered with the Financial Supervisory Authority.
It is only a registered cryptocurrency exchange that is allowed to operate and offer users their services. Check whether the cryptocurrency exchange is offering a currency you would wish to buy or sell and in this case Altcoins like Dogecoin or Ethereum. Make a choice of a user-friendly crypto exchange that offers good and safe payment methods.
Cheapest and the Best Altcoin Exchanges to look up for in 2022
When looking to buy other cryptocurrencies Bitcoin, then you must have an account with a popular altcoin exchange. Not only should your choice of altcoin exchange offer a currency you wish to trade in, but it should also offer security and low fees in trading.
Through a comprehensive review, I found out that the following top altcoin exchanges for 2022 offer the best for users. By the end, you should be able to have all the information you need to help you determine the altcoin exchange that’s best for you.
1. eToro
When looking for the overall best altcoin exchange with the best cryptocurrency margin in the market presently look no further than eToro. It offers the best platform for Coinbase alternatives and a home to numerous altcoins. eToro is the best trading platform.
eToro is all about making your investment easier and very accessible with approximately zero fees and low minimums. In this platform each and everyone can invest in stocks given the fact that eToro is very easy to use. Besides, there is a mobile crypto wallet with android and IOS application to connect you to your main eToro account.
Most altcoins give the users an option of investing in fractional shares. eToro platform makes this investment option a reality. A fractional share is defined as a share of a share smaller than the whole share. With this as a user, you are able to buy shares according to what you wish to inject in.
Moreover, with eToro you get to enjoy some of the most impressive benefits including owning the underlying asset. In addition, you receive dividends, all the altcoins in this platform can be bought and sold from as low as $10. Another great thing with eToro has to do with the guarantee of safety. Buy the best altcoins like ETH, BNB, EOS, Dash, and Cardano at eToro.
Perhaps one of the good reasons why I propose eToro is the best altcoin exchange today is because of the heavy regulations present. Its licensing comes from FCA, SEC, ASIC and CySEC. eToro’s highly regulated and low trading space is the reason why millions of cryptocurrency traders use the platform for exchanges.
2. Crypto.com
Another home where you can find over 250 altcoins is crypto.com. If you are looking to divest into altcoins and diversify your cryptocurrency portfolio, then this exchange is worth your consideration. The most satisfying fact is the ability of accounts to take just a short while to open and once verified, you can buy your crypto with a debit card.
If you also feel like the costs are a bit overwhelming, you can reduce costs by transferring funds to ACH or your bank. Crypto.com is the force behind another popular altcoin known as CRO that renders users the opportunity to reduce their trading commissions. You can also earn interest on your crypto holdings.
Crypto.com is a cryptocurrency savings account which supports a number of altcoins. The returns accruing to the user of this exchange depends on the duration with which your tokens are locked away. The CRO tokens will give you a benefit of increased APY. In addition, you also enjoy the crypto loans which allow you to raise funds without any difficulties. The good news is that it also offers a secure mobile wallet application and the NFT marketplace.