Any person who wants to buy altcoins is faced with the question of choosing a suitable exchange. There is no shortage of such platforms. After entering the corresponding request into a search engine, you will find links to dozens of cryptocurrency exchanges.
Another question is choosing a truly reliable cryptocurrency exchange that provides favorable conditions and security guarantees for your deposited digital currencies. Let’s analyze the best platforms for buying altcoins on the market.
WhiteBIT
It is the largest European exchange, with over 3 million users in 150 countries. The platform offers excellent conditions for both beginners and traders with many years of experience. The exchange has many tools for trading (like spot, margin, and perpetual futures contracts trading) and for passive income (like Crypto Landing, which allows you to get up to 30% per year for storing cryptocurrency on the exchange). The tools are regularly updated depending on community requests. In addition, the exchange constantly interacts with users, conducting activities with prizes.
Due to the high level of security, WhiteBIT claims to be the best exchange for cryptocurrency trading and is in the top 3 exchanges in terms of safety according to the CER.live rating. The user funds are protected because they are primarily kept in cold storage (96% of digital assets). The exchange also uses systems for detecting and protecting against hacker attacks.
Plus, the WhiteBIT exchange has an impressive number of trading pairs: 450+. The fees, however, are among the lowest on the market. The standard trading fee is 0.1% (which may be lower for some assets). Margin funds are subject to a daily fee of 0.098%.
Any questions that users may have are resolved 24/7 by the support team of the exchange. They can ask for help through the website, mobile application, e-mail, social networks, etc. Assistance is in 12 languages.
eToro
This cryptocurrency exchange is based on the Israeli brokerage company eToro. Initially, the company allowed working with various assets. CFD stock trading appeared on the platform in 2013. The company entered the cryptocurrency market in 2016 and has been a prominent player.
They have about 60 altcoins and more than a hundred cryptocurrency pairs. The fee policy is quite democratic: ETH can be purchased by paying a trading fee of Spread + 1%.
The number of tools is quite vast, but the emphasis is on the “copy trading” tool. Users must select a reliable trader and repeat their trade, eliminating the need to monitor and analyze market changes regularly.
The platform can be a good choice for beginner traders. You can get answers to questions regarding the work of the exchange in the online chat on the exchange.
Binance
The platform began its work in 2017 and is now one of the largest exchanges supporting cryptocurrency transactions. The advantages of the exchange include support for many cryptocurrencies, regardless of their capitalization.
The interface and functionality of the exchange are understandable for everyone, regardless of their experience in cryptocurrency. Binance allows users to conduct complex technical analyses and buy cryptocurrency in simple steps.
Fees depend on the type of transactions carried out. US users pay a 4.5% fee when using a credit or debit card and a 0.5% instant purchase fee. When buying Ethereum, a user pays a fee of 0.1%.
Despite a hack in the history of the exchange, Binance provides a layered decentralized security system. They offer a decentralized trust wallet and access to the Pancakeswap decentralized exchange to store assets.
Altcoins in the Binance Web Wallet are protected by two-factor authentication and IP whitelisting. User support is implemented as a special service with many materials and round-the-clock support service in online chat.
Coinbase
It is an American company founded in 2012. The platform has a simple interface that allows users to open an account and buy cryptocurrency without extra effort. The exchange focuses on large or mid-cap altcoins (Ethereum, Cardano, USD Coin, etc.), but there are popular exceptions such as XRP and BNB. There are more than 50 altcoins in total.
The platform’s target audience includes experienced traders and those just starting to master the crypto market. The FAQ materials are for beginners, along with customer support in the form of an online chat or phone call.
The exchange also pays attention to security. Two-factor authentication is required to provide secure access to users’ accounts. In addition, 98% of user assets are in cold wallets.
However, fees on the exchange are above average: card payments have a 3.99% fee and transactions with Ethereum include a 1.49% fee. After purchasing altcoins, users can store assets on the Coinbase web wallet or transfer them to a non-custodial wallet, which is available on Android and iOS.
Crypto.com
Founded in 2019 in Singapore, the platform now has over 50 million customers in many countries, including Europe, the United States, Canada, Latin America, and parts of Asia. The exchange has a fairly good reputation and tries to satisfy customers’ needs.
Users have access to spot and margin trading with more than 250 altcoins. The leverage available for margin trading is 3X, 5X, and 10X. The interest rate depends on the duration of the deposit.
Depending on the type of transaction, the exchange charges different fees. For example, when using a debit or credit card, the fee is 2.99%, and it’s up to 0.40% for ETH.
User support is implemented through materials prepared by specialists and an online support chat with an average response time of 15 minutes.
Suppose you are currently looking for an altcoin trading exchange. In that case, you should know that the choice of altcoin trading exchange should be based on a combination of criteria of trust, security, suitable fees, and a generally loyal attitude towards users.
As you can see, the WhiteBIT team not only maintains a high level of services provided but also regularly expands the functionality of the exchange and increases security.