Altcoin Trade Exchange

Altcoin Trade Exchange

Crypto Market
September 23, 2019 by admin
192
altcoin exchange trade

Altcoin Trader Review

A trading cryptocurrency guide must of course provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Altcoin Trader consists of four parts: general information, fees, deposit methods and security.

General Information

AltCoin Trader is an exchange based in South Africa. There is one other South African exchange that can be worth mentioning here: ICE3X. ICE3X is much more popular than Altcoin Trader and you should definitely check it out before deciding to stick with Altcoin Trader for life.

The selection of trading pairs at this exchange is quite limited. Accordingly, this trading platform is not for people interested in the less established cryptocurrencies (1World CoinTaler CoinWoodcoinNeutron CoinZennies Coin, or coins of roughly the same size). If you want to sell or buy any such smaller cryptocurrency, you’ll have to choose another trading platform that you can find by the help of the Exchange Finder.

This is apparently a picture of the team at Altcoin Trader (obtained from their website):

AltCoin Trader Team

Altcoin Trader does not explicitly prohibit US-investors from trading on its exchange. In any event, all US-investors should still perform their own analysis of whether their home state imposes any legal obstacles to them trading at any of the top crypto exchanges that could be the best cryptocurrency exchange site for them.

AltCoin Trader Trading View

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Altcoin Trader:

Altcoin Trader Trading View

Altcoin Trader Fees

AltCoin Trader Trading fees

This trading venue offers a flat trading fee of 0.80%. Accordingly, it is irrelevant whether you are a taker or a maker. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model. This exchange’s trading fees are way above the industry average which is around 0.25%. One should consider whether this exchange has a strong offering to investors in other respects that outweighs the disadvantage of this somewhat higher trading fee.

AltCoin Trader Withdrawal fees

This cryptocurrency exchange charges a withdrawal fee amounting to 0.001 BTC when you withdraw BTC. This is in line with industry average in the industry.

Deposit Methods

This trading platform offers wire transfer as a deposit method, but credit cards are not permitted. So, if you want to flex your credit card muscles, then this exchange is not for you.

Altcoin Trader Security

The exchange has a security score of D, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.

In conclusion, the main advantage with this exchange is that it offers many trading pairs against the ZAR. If that option is not important to you, then this exchange is presumably not the best cryptocurrency exchange site for you.

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The exchange reviewed above is what we call an “entry-level exchange”. This means that this exchange also makes it possible for someone to enter the cryptocurrency market with fiat currency. There are numerous entry-level exchanges out there, including (but not limited to):

  1. PrimeXBT
  2. Simex
  3. BaseFEX
  4. Currency.com
  5. CEX.io
  6. Changelly
  7. Crex24
  8. Binance
  9. Bittylicious
  10. Coinmate
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