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
This altcoin exchanges guide selects some of the best crypto platforms available worldwide. Platforms were chosen after a period of testing of over six months by BeInCrypto’s product testing teams. Here’s why each platform was chosen.
Coinbase
Coinbase was chosen for its user-friendly interface and strong regulatory compliance, making it ideal for beginners. It supports a wide variety of altcoins, ensuring ample trading opportunities. The platform’s security measures, including insurance for digital assets, further enhance its reliability.
BingX
BingX sets itself apart by its social trading and trading bots. Users can take advantage of its multiple trading features like order types, educational materials, and more. The exchange supports both spot trading and several types of crypto futures products. BingX also has wealth management and reward products for loyal customers.
YouHodler
YouHodler stood out for its unique crypto-backed loans and high-interest savings on altcoin deposits. It supports a broad range of altcoins, providing diverse investment options. The platform’s intuitive interface and strong security protocols make it a secure and convenient choice for altcoin trading.
Binance
Binance was selected for its extensive selection of altcoins and competitive trading fees. The platform offers advanced trading features like futures and margin trading, catering to both novice and experienced traders. Its high liquidity ensures smooth trading experiences, and solid security measures protect user assets.
Uphold
Uphold was chosen for its seamless integration of traditional and cryptocurrency banking. The platform allows instant cross-asset trading and supports a wide variety of altcoins. Uphold’s strong security measures and transparent fee structure make it a reliable and versatile platform for altcoin trading.
Wirex
Wirex impressed us with its ability to seamlessly convert and spend altcoins using the Wirex card. It supports numerous altcoins and offers competitive exchange rates. The platform’s features, such as crypto cashback rewards, and strong security measures make it a practical choice for everyday use.
OKX
OKX was selected for its comprehensive range of trading features, including margin trading and futures contracts. The platform supports a vast selection of altcoins and offers high liquidity, ensuring efficient trading. Its advanced security protocols and user-friendly interface make it a top choice for altcoin traders.
Bybit
Bybit was chosen for its advanced trading features such as derivatives and perpetual contracts. It supports a wide variety of altcoins and provides high liquidity, ensuring smooth trading operations. The platform’s strong security measures and responsive customer support enhance its reliability.
BYDFi
BYDFi stood out for its user-friendly interface and trading tools like social trading and staking options. The platform supports a diverse range of altcoins and offers competitive trading fees. Its strong security measures and comprehensive educational resources make it a great choice for both beginners and experienced traders.
MEXC
MEXC was chosen for its extensive selection of altcoins and low trading fees. The platform offers advanced trading features, including ETF trading and margin trading, catering to a wide range of traders. Its high liquidity and security protocols ensure a safe and efficient trading experience.
For further information and insight into BeInCrypto’s verification methodologies, click this link.
- Top 10 altcoin exchanges in 2024
- 1. MEXC
- 2. Coinbase
- 3. BingX
- 4. YouHodler
- 5. Binance
- 6. Uphold
- 7. Wirex
- 8. OKX
- 9. Bybit
- 10. BYDFi
- Top altcoin exchanges compared
- What to look for in altcoin exchanges
- Tips for trading altcoins safely
- How do I determine the security of an altcoin exchange?
- What are the benefits of trading altcoins?
- Altcoin exchanges offer diverse trading opportunities
- Frequently asked questions
Top 10 altcoin exchanges in 2024
1. MEXC
MEXC offers an extensive range of altcoins, competitive trading fees, and trading features. Founded by John Chen, the platform serves over 30 million users across 170+ countries, making it one of the more globally accessible exchanges. MEXC offers spot and futures trading, including leveraged ETFs, and is capable of handling over 1.4 million transactions per second. With its extensive security measures and user-friendly interface, MEXC provides a reliable and efficient trading experience for both novice and experienced traders.
• Hosts an average of 30 airdrop events each week
• The MX token, MEXC’s native cryptocurrency, offers holders numerous benefits (trading fee discounts, rebates, and access to exclusive airdrops)
• MEXC has extremely low fees, offering a 0.050% maker and 0.050% taker trading fee for spot trading
• Supports express orders, P2P trading, and third-party payment methods
• Comprehensive futures trading suite with leverage up to 200x for specific pairs
• Extensive copy trading functionality
• Demo trading feature for users to practice futures trading with virtual funds
• MEXC Earn allows the staking of popular cryptocurrencies
• High-level security protocols, including two-factor authentication, email and Google verification, anti-phishing measures, third-party account authorization, and advanced encryption
2. Coinbase
As a top-of-the-line centralized exchange, Coinbase has rightfully earned its reputation for security and regulatory compliance. It is a top-tier option with solid security measures, including two-factor authentication and insured digital assets.
Coinbase offers a comprehensive suite of products while driving innovation across the wider decentralized ecosystem. In 2024, the platform’s native L2, the Base blockchain ecosystem, is thriving. The open-source platform aims to bring the next billion users on-chain.
Whether you’re a beginner or an advanced trader, Coinbase provides a user-friendly interface and extensive educational resources, making it a versatile choice for altcoin trading.
• Stringent security measures, including two-factor authentication (2FA), cold storage of funds, and insurance for digital assets
• Strict regulatory standards, being registered with the CFTC as a Futures Commission Merchant (FCM) and complying with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
• Coinbase supports over 240 cryptocurrencies and 400+ trading pairs
• Offers both basic and advanced trading platforms
• The interface is designed to be intuitive and easy to use
• The Coinbase Learning Rewards section offers comprehensive educational resources, and users get awarded with crypto
• Serves customers in over 100 countries, including the U.S., Canada, the United Kingdom, and Europe, providing broad accessibility
• Solid customer support, including multi-channel communication options, round-the-clock availability, and a well-stocked help center with FAQs and guides
BingX was created in 2018 and has since become one of the largest exchanges by trading volume. It is a cryptocurrency exchange and social trading app. BingX has serviced over 10 million users to date. It has offices in Oceania, Asia, Europe, and South America.
The platform is regulated in Australia and the EU, maintains a 100% proof of reserves, and performs regular audits. BingX has a suite of products tailored for traders. It has over 750 cryptocurrencies for spot trading and 800 markets/trading pairs.
• Maintains a 100% margin Merkle tree proof of reserves completed by Mazars.
• Partners with prominent security firm, Certik, to complete security audits.
• Supports over spot trading, futures, grid bots, and copy trading.
• Has a Help Center and 24/7 customer support to assist customers with any problems.
• BingX Academy has a wealth of resources, videos, articles, guides, and tutorials to educate users.
• Wealth and Rewards Hub for users to earn using their idle crypto or completing tasks.
4. YouHodler
YouHodler stands out as a top altcoin exchange due to its unique focus on cryptocurrency loans, high Loan-to-Value (LTV) ratios, and the ability to earn interest on a variety of crypto holdings. Its products, such as Turbocharge loans and Multi HODL, provide users with advanced financial tools to leverage their crypto assets.
YouHodler’s security measures and strategic location in a favorable regulatory environment further enhance its appeal. Despite the platform lacking some transparency in financial reporting, YouHodler’s comprehensive offerings make it a strong contender in the crypto finance space.
• YouHodler offers one of the highest LTV ratios in the industry (up to 90%)
• Turbocharge loans enable you to use crypto assets as collateral to open leveraged positions
• The Multi HODL feature allows you to open multiple loans using crypto holdings as collateral simultaneously
• Offers competitive interest rates on various altcoins and stablecoins
• Employs strong security protocols, including secure KYC data handling, SSL encryption, and OAuth 2.0 tokens for authentication
• YouHodler has a significant global presence (over 2.2 million users across 110 countries)
5. Binance
Binance is a leading premier altcoin exchange. The platform makes this list due to its extensive range of trading options. It is renowned for its high liquidity and supports a huge range of assets and more than 1600+ trading pairs.
Binance’s features, such as Binance Earn, Binance Launchpad, and its comprehensive DeFi ecosystem, offer multiple opportunities for passive income and investment diversification. Additionally, Binance’s security measures and wide geographical availability make it a reliable and accessible choice for both novice and experienced traders.
• Employs advanced security protocols, including two-factor authentication (2FA), address whitelisting, and regular audits.
• Binance uses the Merkle Tree-powered proof-of-reserves system for enhanced transparency and user trust
• The platform supports multiple languages and provides a wide range of payment methods for fiat-to-crypto transactions
• Broad spectrum of trading features (spot trades, margin trading, futures and options)
• Over 400 cryptos, more than 1600 trading pairs
• Binance Earn provides staking, liquidity farming, and dual investment.
• Binance Launchpad helps new projects raise funds and offers users early access to new tokens
6. Uphold
Uphold is a versatile digital trading platform that supports a wide array of assets, including crypto, fiat, and precious metals. With operations in over 184 countries and a history of facilitating over $4 billion in transactions, Uphold offers cross-border remittance services and seamless foreign exchange. The platform’s extensive asset support, financial products, and strong regulatory compliance make it a reliable choice for altcoin trading.
• Allows users to trade over 250 cryptocurrencies, 20 fiat currencies, and precious metals like gold, silver, platinum, and palladium
• Strong security protocols, including two-factor authentication (2FA), account freezing options, and compliance with data protection standards like PCI-DSS.
• Offers a comprehensive app for mobile trading
• Supports a variety of payment methods, including debit/credit cards, Google/Apple Pay, bank transfers, and crypto deposits
7. Wirex
Wirex offers seamless integration of traditional and cryptocurrency banking, making it easy to spend altcoins in everyday transactions. With the Wirex card, users can instantly convert and spend their altcoins at millions of locations worldwide. The platform offers a clear and competitive fee structure with no hidden costs.
Additionally, Wirex provides competitive exchange rates and rewards users with crypto cashback on purchases, making it a practical and versatile platform for everyday use.
• Instant crypto-to-fiat altcoin conversion with Wirex card
• Wide variety of altcoins
• Crypto cashback rewards (up to 8%)
• Competitive exchange rates
• Multi-currency accounts
• Mobile app
• No fees on foreign exchange transactions (up to a certain limit)
• Instant in-app transfers
• Strong security measures (multi-signature wallets, biometric authentication, and fraud detection systems)
• Adheres to strict regulatory standards
• Integrated crypto wallet
8. OKX
OKX is a top-tier centralized crypto exchange renowned for its comprehensive range of trading services, including spot, derivatives, and margin trading. With users in over 160 countries, OKX offers a truly global trading experience. The platform is equipped with an integrated, native web wallet that is governed by your private key, ensuring enhanced security.
OKX provides advanced features for both novice and professional traders, such as staking, mining pools, and DeFi strategies, making it a versatile and platform for altcoin trading.
• Supports over 300 cryptocurrencies with more than 700 trading pairs
• The platform offers spot trading, margin trading with leverage, futures, and perpetual swaps
• Supports multiple fiat currencies
• High-end security standards, including cold storage for reserves, multi-sig wallets, OTP-based logins, and two-factor authentication (2FA)
• Offers a range of financial products (staking, dual investment plans, and structured earning products like Shark Fin)
• Seamless integration with a dedicated multi-functional wallet that serves as a portal to web3
9. Bybit
Bybit is a leading altcoin exchange with offerings in both spot and derivatives trading. Headquartered in Dubai, Bybit is known for its high-leverage trading options, allowing advanced traders to amplify their positions with up to 100x leverage on specific cryptocurrencies.
The platform’s advanced order-matching engine ensures quick transactions and zero downtime, providing a seamless trading experience for its 15+ million users across 180 countries. Bybit’s features, such as copy trading, trading bots, and comprehensive suite of educational resources, make it an excellent choice for both novice and experienced traders.
• Offers a wide range of trading instruments (spot trading, perpetual and quarterly contracts, and leveraged tokens)
• Can handle up to 100,000 transactions per second with zero downtime.
• Copy trading (replicating the strategies of successful traders) and automated trading
• Passive earning options (fixed term, dual asset, flexible savings, and liquidity mining)
• Multiple security protocols (multi-signature wallets, two-factor authentication (2FA), advanced encryption strategies, and periodic security audits)
10. BYDFi
BYDFi, formerly known as BitYard, is an altcoin exchange that provides users with an all-in-one streamlined trading experience. It adheres to stringent regulatory standards, making it a reliable platform for global users. Its user-friendly interface, comprehensive security measures, and tools like copy trading and leveraged tokens make BYDFi a top choice for altcoin trading in 2024.
• Offers a tiered spot trading interface with Classical, Advanced, and Convert tiers (for different trading needs)
• Supports trading of perpetual contracts with leverage up to 200x (USDT-margined or Coin-Margined)
• Offers leveraged tokens that come with built-in leverage (no need for manually setting up margin and leverage)
• Copy trading (automatically copy trades from master traders)
• Solid security measures (two-factor authentication, email binding, anti-phishing codes, and multi-party approvals for high-value transactions)
Top altcoin exchanges compared
| Best feature | Cryptos available | Countries available | Fees | |
| MEXC | Most trading pairs | 3,000+ | 170+ | 0-0.10% |
| Coinbase | Beginner friendly | 240+ | 100+ | 0-3.99% |
| BingX | Social trading | 750+ | 100+ | 0.0325-0.1% |
| YouHodler | Web3 services | 50+ | 150+ | 0-4.5% |
| Binance | Suitable for all traders | 410+ | 150+ | 0-0.10% |
| Uphold | One-step trades | 250+ | 180+ | 0.25-2.95% |
| Wirex | Cashback card | 250+ | 130+ | 0-2% |
| OKX | Range of trading features | 330+ | 160+ | 0-0.10% |
| Bybit | Derivatives trading | 620+ | 150+ | 0-0.10% |
| BYDFi | Highest leverage trading | 230+ | 150+ | 0.10-0.30% |
What to look for in altcoin exchanges
When choosing an altcoin exchange, there are a few key features you should look for:
- 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.
- Low trading fees: Check the fee structure. Lower fees mean you keep more of your money when you trade.
- 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!
- 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 security measures.
- High liquidity history: An exchange with high liquidity means you can buy and sell coins quickly without affecting the market price too much.
- Advanced trading features: If you’re a more advanced trader, look for features like margin trading, futures contracts, and various order types.
- Mobile app: Check if the exchange has a reliable app with all the features you need to trade on the go.
- Customer support: Great customer support can be a lifesaver if you run into issues. Look for exchanges with responsive 24/7 support.
- 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
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?
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.
2. New 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 new 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
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