Are you looking to start buying, trading, and selling altcoins but unsure which exchange to use? With hundreds of options available, each with unique pros and cons, it can be overwhelming. This guide reviews seven of the best altcoin exchanges, covering fees, security, token availability, liquidity, and user experience.
Did you know the first altcoin, Namecoin, was created in 2011?
By the end, you’ll know where to buy altcoins and how to purchase them with USD.
Gemini: A Regulated and Secure Choice
Founded in 2015 by the Winklevoss twins, Gemini is a New York-based exchange regulated under the BitLicense, ensuring bank-level security.
Key Features:
- Supported Altcoin: Ethereum (ETH) only.
- Fees: 0.25% trading fee (reduces for high-volume trades).
- Deposits/Withdrawals: Free bank transfers (10 free crypto withdrawals/month).
- Verification: Requires ID upload; may take days.
Pros:
✔ High liquidity
✔ Strong security
✔ Low fees
✔ User-friendly
Cons:
✖ Limited altcoin selection
Coinbase: Beginner-Friendly and Versatile
A top choice for newcomers, Coinbase supports Litecoin (LTC), Ethereum (ETH), and Bitcoin Cash (BCH).
Key Features:
- Deposit Methods: Debit/credit cards (3.5% fee) or bank transfers.
- Fees: Slightly above market rate.
- Security: 98% cold storage + 2FA.
Pros:
✔ Easy-to-use interface
✔ Phone support
✔ Fast verification
Cons:
✖ High card deposit fees
✖ Limited altcoins
Kraken: Low Fees and Broad Altcoin Selection
Popular in Europe, Kraken offers Ripple (XRP), Stellar Lumens (XLM), and ZCash (ZEC).
Key Features:
- Fees: 0.02%–0.26% (volume-based).
- Deposits: Bank transfers only (no cards).
Pros:
✔ Multiple altcoins
✔ Low trading fees
Cons:
✖ No card deposits
✖ Mixed customer service reviews
Bitstamp: Advanced Trading for Experienced Users
Founded in 2011, Bitstamp caters to seasoned traders with tools like limit orders and margin trading.
Key Features:
- Altcoins: ETH, BCH, XRP, LTC.
- Fees: 0.10%–0.25%.
Pros:
✔ High liquidity
✔ SEPA transfers
Cons:
✖ Slow verification (up to 2 weeks)
✖ Past security breaches
Poloniex: Wide Altcoin Variety
A US-based exchange with 100+ altcoins, Poloniex is ideal for crypto-to-crypto trading.
Key Features:
- Fees: 0%–0.25%.
- No Verification: For trades under $2,000/day.
Pros:
✔ Extensive altcoin list
✔ No-ID trading
Cons:
✖ No fiat deposits
CEX.io: UK-Based with High Liquidity
Supports bank transfers and card deposits but charges a steep 7% trading fee.
Key Features:
- Altcoins: Diverse options.
- Security: Cold storage.
Pros:
✔ Multiple deposit methods
Cons:
✖ High fees
BitSquare: Decentralized and Anonymous
A P2P exchange with no KYC—perfect for privacy-focused traders.
Key Features:
- Payments: 20+ methods (including cash).
- Fees: Complex structure.
Pros:
✔ No third-party control
✔ Anonymous
Cons:
✖ Steep learning curve
Comparison Table
| Exchange | Fiat Deposits | Fees | Ease of Use | Security | Altcoins |
|---------------|--------------|---------------|-------------|----------|----------|
| Gemini | Bank | 0.025% | High | Excellent| 1 |
| Coinbase | Card/Bank | ~Market+ | High | Excellent| 3 |
| Kraken | Bank | 0.02%–0.26% | High | Good | Many |
| Bitstamp | Card/Bank | 0.10%–0.25% | Medium | Fair | 4 |
| Poloniex | None | 0%–0.25% | Medium | Good | 100+ |
| CEX.io | Card/Bank | 7% | Medium | Good | Many |
| BitSquare | 20+ methods | Variable | Low | Excellent| Many |
Final Thoughts
Choosing the right exchange depends on your needs:
- Beginners: Coinbase or Gemini.
- Privacy: BitSquare.
- Low fees: Kraken or Poloniex.
FAQ
Q: Which exchange has the lowest fees?
A: Kraken (0.02%) and Poloniex (0%–0.25%).
Q: Can I buy altcoins anonymously?
A: Yes—use BitSquare (no KYC).
Q: Which is safest?
A: Gemini (BitLicense) and BitSquare (decentralized).
Q: How do I deposit USD?
A: Use Gemini, Coinbase, or Kraken (bank transfers).
Q: Which has the most altcoins?
A: Poloniex (100+).
Disclaimer: This guide is for informational purposes only. Always conduct your own research before investing.