Altcoin Trading: 5 Best Site To Trade Any Altcoin

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Terms you should know before starting altcoin trading.

There are differences between an altcoin trading platform and an exchange platform.

  1. You cannot buy or sell crypto for fiat on altcoin trading platforms (now you can), while on exchange platforms you can buy and sell at least bitcoin and Ethereum.
  2. An altcoin trading platform gives an advanced and confusing dashboard for managing your fund, but a cryptocurrency exchange platform gives a simple dashboard that shows the up-and-down chart of a particular coin.
  3. On-exchange coin swapping happens between you and the exchange platform, but on altcoin trading, it happens between you and another real trader.
  4. On exchange platforms, the price of the coin is fixed on the basis of the market and cannot be changed, while on altcoin trading platforms, the price is also fixed, but you can change it if you do not agree with the market price.
  1. The fees are fixed and usually high on exchanges, while on altcoin trading the fees are also fixed but extremely low, and even some time buyers receive cashback.
  2. You can exchange any coin into any other available coin on the altcoin trading platform, while on the exchange platform, you can only trade in Bitcoin, Ethereum, and USDT (high-markup coins only) into other coins.
  3. Example: Coinbase Exchange is an exchange platform, while Coinbase Pro is an altcoin trading platform.

Why use altcoin trading?

  1. You can sell a little bit at a higher price and buy at a lower price than the market price.
  2. The fees are extremely low, about -0.02–0.05% for makers and 0.04–0.07% for takers.
  3. You can trade BTC, ETH, or USDT for any listed coin, even low-market-cap coins that are not listed on exchange platforms.
  4. An altcoin trading platform gives advanced tools that help with trading in bitcoin or any coin.
  5. Have three pairs of BTC, ETH, and USDT for altcoin trading, but on an exchange platform that has only one pair.
  6. Some altcoin trading sites don’t require KYC verification, while others like Coinbase do.

What to avoid during altcoin trading.

  • Choose a proper, secure, and high-market-value trading platform.
  • Always consider a single pair; otherwise, it causes confusion in calculating profit.
  • Stay away from coins or tokens that have a low market value; those are really risky.
  • If you are not familiar with the altcoin trading tool, then only use it to see the price, not to make predictions.

Altcoin trading on Binance.

Merits and demerits.

  • Large market value.
  • Have a huge number of coins listed.
  • You can directly buy and sell.
  • Other services like staking, lending, P2P, and more
  • Have hacked many times.
  • Complicated crypto trading features for newbies.

Coinbase Pro for selective altcoin trading.

Merits and demerits.

  • Trusted and secure.
  • Friendly for a newbie.
  • Betting for USD, GBP, and EUR.
  • Limited coins are available for trading.
  • There are not many pairs for a single coin.

Altcoin trading on Kraken.

Merits and demerits.

  • The advance chart features.
  • Better help center.
  • Buy, sell, and trade many cryptos.
  • Provide mobile-friendly features.
  • Best for bitcoin trading against fiat.
  • Features are not friendly for a newbie.

Altcoin trading on Huobi Global.

Merits and demerits.

  • Large market value.
  • Have a huge number of coins listed.
  • You can buy directly.
  • Many crypto pairs are against USDT.
  • Other services like staking, lending, mining, and more.
  • Lack of crypto pairs.
  • There is no direct sale of cryptos.

Altcoin trading on Bitfinex

Merits and demerits.

  • 300+ crypto pairs.
  • Have many USD and EUR pairs.
  • Easy crypto trading chart.
  • Have no crypto-sale features.

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