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10 Best Altcoin Exchanges In 2024

17 mins
Updated by Ryan Glenn
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Finding the right altcoin exchanges is crucial for maximizing your crypto investments in 2024. It’s best to choose platforms that offer low trading fees, high liquidity, and a wide variety of altcoins. 

This article explores the top-rated exchanges to trade altcoins, highlighting key features such as user-friendliness, security in crypto trading, and the ability to perform fiat-to-crypto transactions with ease. 

Methodology

Top 10 altcoin exchanges in 2024

1. Coinbase

Best altcoin exchange for beginners
Fees
0-3.99%
Cryptocurrencies
240+
Availability (GEOs)
U.S. & 100+

2. BingX

Best altcoin exchange for social trading
Fees
0.0325-0.1%
Cryptocurrencies
750+
Availability (GEOs)
100+

3. YouHodler

Best altcoin exchange for web3 fintech services
Fees
0-4.5%
Cryptocurrencies
50+
Availability (GEOs)
U.K. & 150+

4. Binance

Best altcoin exchange for all traders
Fees
0-4.50%
Cryptocurrencies
410+
Availability (GEOs)
U.K. & 150+

5. Uphold

Best altcoin exchange for one-step trades
Fees
0.25-2.95%
Cryptocurrencies
250+
Availability (GEOs)
U.K. & 180+

6. Wirex

Best altcoin exchange for cashback card
Fees
0.00-2.00%
Cryptocurrencies
250+
Availability (GEOs)
U.K. & 130+

7. OKX

Best altcoin exchange for innovative features
Fees
0.00-0.32%
Cryptocurrencies
330+
Availability (GEOs)
U.K. & 160+

8. Bybit

Best altcoin exchange for derivative trading
Fees
0.00-0.10%
Cryptocurrencies
620+
Availability (GEOs)
U.K. & 180+

9. BYDFi

Best for high leverage trading
Fees
0.10-0.30%
Cryptocurrencies
230+
Availability (GEOs)
U.K. & 150+

10. MEXC

Best altcoin exchange for the most trading pairs
Fees
0.00-0.10%
Cryptocurrencies
2,240+
Availability (GEOs)
U.K. & 170+

Top altcoin exchanges compared

Best featureCryptos availableCountries availableFees
CoinbaseBeginner friendly240+100+0-3.99%
BingXSocial trading750+100+0.0325-0.1%
YouHodlerWeb3 services50+150+0-4.5%
BinanceSuitable for all traders410+150+0-0.10%
UpholdOne-step trades250+180+0.25-2.95%
WirexCashback card250+130+0-2%
OKXInnovative trading features330+160+0-0.10%
BybitDerivatives trading620+150+0-0.10%
BYDFiHighest leverage trading230+150+0.10-0.30%
MEXCMost trading pairs2,240+170+0-0.10%

What to look for in altcoin exchanges

what to look for in exchanges

When choosing an altcoin exchange, there are a few key features you should look for:

  1. Wide variety of altcoins: Make sure the exchange supports a lot of different altcoins, so you have plenty of options to trade and invest in.
  2. Low trading fees: Check the fee structure. Lower fees mean you keep more of your money when you trade.
  3. Security policies: Look for exchanges with strong security measures like two-factor authentication (2FA) and cold storage for funds. Your assets need to be safe!
  4. User-friendly interface: The platform should be easy to use, whether you’re a beginner or an experienced trader. A clean and intuitive interface makes trading much smoother. Coinbase is widely regarded as one of the best crypto exchanges for beginners due to its user-friendly interface and robust security measures.
  5. High liquidity history: An exchange with high liquidity means you can buy and sell coins quickly without affecting the market price too much.
  6. Advanced trading features: If you’re a more advanced trader, look for features like margin trading, futures contracts, and various order types.
  7. Mobile app: Check if the exchange has a reliable app with all the features you need to trade on the go.
  8. Customer support: Great customer support can be a lifesaver if you run into issues. Look for exchanges with responsive 24/7 support.
  9. Staking and earning rewards: Some exchanges offer staking or other ways to earn rewards on your crypto holdings. It’s a nice way to grow your assets passively.

Tips for trading altcoins safely

trade safely

Do your own research (DYOR)

Before investing in any altcoin, spend time researching the project. Understand the technology, team, use case, and market potential. Read the whitepaper, follow the project’s updates on social media, and check out community discussions on forums like Reddit. This helps you make informed decisions and avoid scams.

Use secure exchanges

Choose reputable and secure exchanges for trading. Look for exchanges with strong security features like two-factor authentication (2FA), cold storage, and a good track record. Examples include Binance, Coinbase, and OKX.

Diversify your portfolio

Don’t put all your money into one altcoin. Spread your investments across multiple coins to reduce risk. Allocate your funds among different sectors, such as DeFi, RWAs, DePin protocols, etc. This way, if one coin or sector underperforms, your overall portfolio is less affected.

During an altcoin season, the value of altcoins typically rises significantly faster than that of Bitcoin, presenting lucrative opportunities for savvy traders and investors.

Set stop-loss orders

A stop-loss order helps limit losses by automatically selling your altcoin when its price drops to a certain level. When you buy an altcoin, set a stop-loss order at a price point where you’re willing to accept a loss. More advanced platforms offer a variety of tools that will help you better control your trading strategy. This ensures you don’t lose more than you can afford.

Stay updated on market news

Crypto markets are highly volatile and can be influenced by news and events. Staying informed helps you make timely decisions. Follow reliable crypto news sources, join relevant social media groups, and set up alerts for significant updates. This way, you can react quickly to market changes.

How do I determine the security of an altcoin exchange?

Determining the security of an altcoin exchange is crucial to protecting your investments. Here are some key factors to consider when evaluating the security of an exchange.

Regulatory compliance

Exchanges that comply with regulatory standards are more likely to operate transparently and securely. Check if the exchange is registered with relevant financial authorities and adheres to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. This information is usually available on the exchange’s website.

For traders seeking anonymity, no-KYC crypto exchanges provide a solution without compromising on security. However, such policies might not be tolerated in all supported countries of an exchange. 

Two-factor authentication (2FA)

2FA adds an extra layer of security by requiring two forms of identification before accessing your account. Ensure the exchange supports 2FA. Set it up using an authenticator app (like Google Authenticator) rather than SMS for better security.

Cold storage of funds

Cold storage refers to keeping the majority of user funds offline, which protects assets from online hacks. Verify if the exchange uses cold storage for the majority of its assets. Exchanges often mention this in their security policies or FAQ sections.

Insurance fund

Some crypto exchanges have insurance funds to protect users against potential losses due to hacks or other security breaches. Look for information on whether the exchange has an insurance policy or fund. This detail is often highlighted in the exchange’s security or about us sections.

Security audits

Regular security audits by independent third parties can help ensure that an exchange’s security measures are up-to-date and effective. Check if the exchange undergoes regular security audits. This information might be found in their security documentation or announcements.

User reviews and reputation

The experiences of other users can provide insight into the exchange’s security and reliability. Read crypto exchange reviews, see what other users are saying on forums, and social media. Look for common security-related complaints or praise.

Phishing protection

Exchanges should have measures to protect users from phishing attacks, such as email confirmation for logins and transactions. Look for phishing protection features like email verification, anti-phishing codes, and browser notifications.

What are the benefits of trading altcoins?

exchange security

1. Higher potential returns

Altcoins can be more volatile than Bitcoin, meaning their prices can rise or fall dramatically in short periods. While this volatility increases risk, it also offers the chance for significant profits if you invest wisely.

Be aware that higher potential returns come with higher risks. It’s crucial to set a clear investment strategy, avoid emotional trading, and consider starting with smaller amounts of money to mitigate potential losses.

Ethereum, Toncoin, and Solana are among the top cryptocurrencies to invest in for those looking to diversify their portfolios.

A well-known example is the returns generated by early investment in Ethereum, which increased from around $1 at its initial coin offering (ICO) in 2014 to over $4,000 at its peak in 2021.

ethereum price chart
Ethereum price trajectory: CoinGecko

2. Innovative technologies

Many altcoins are at the forefront of technological innovation within the blockchain space. Ethereum, for example, introduced smart contracts, which are self-executing contracts with the terms directly written into code. This innovation has paved the way for numerous applications across various industries.

Research and understand the technology behind the altcoins you are interested in. Follow news and updates from the development teams and communities to stay informed about technological advancements and potential impacts on the coin’s value.

4. Passive income opportunities

Many altcoins offer staking, lending, or yield farming, which allows you to earn passive income on your crypto holdings. Staking involves holding a certain amount of cryptocurrency in a wallet to support the network operations, such as validating transactions and earning rewards in return.

Understand the specific requirements and risks associated with these passive income opportunities. Research the staking protocols, interest rates, and potential lock-up periods during which you cannot access your funds.

5. Arbitrage opportunities

Arbitrage involves buying a cryptocurrency on one exchange where the price is lower and selling it on another exchange where the price is higher. This can be particularly profitable with altcoins due to the price differences that can exist between various platforms.

Traders should be aware of the transaction fees, withdrawal limits, and the time it takes to transfer funds between exchanges. Profiting from arbitrage requires quick and efficient execution and a thorough understanding of the different exchange platforms.

Suppose altcoin A is priced at $1 on exchange X and $1.05 on exchange Y. By buying altcoin A on exchange X and selling it on exchange Y, you can make a profit of $0.05 per coin minus any transaction fees.

Altcoin exchanges offer diverse trading opportunities 

Altcoin trading offers numerous benefits, from diversification and higher potential returns to innovative technologies and passive income opportunities. Binance is often considered the best exchange to trade altcoins due to its extensive selection and competitive fees. However, when choosing an exchange to trade altcoins, it’s crucial to consider a wide range of factors, focusing on which matters most to you.

Both centralized and decentralized crypto exchanges provide unique advantages, so it’s important to review and compare options to find the best fit for your needs. 

Frequently asked questions

Which exchange is best for altcoins?

What are the top five altcoins?

What are the top 3 crypto exchanges?

Are there any low-fee altcoin exchanges?

Top crypto platforms | June 2024

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Iulia Vasile
Iulia Vasile is a seasoned professional in the cryptocurrency and blockchain industry, working full-time in the field since 2017. With a background in computer engineering, she has the unique ability to write about complicated topics, including DeFi, NFTs, trading, and AI, in a way that is easy to understand. Iulia learned multiple programming languages while completing her Software Engineering degree in Bucharest at Politehnica University. Iulia brings her expertise and personal...
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