Best Bitcoin Brokers For Altcoin Trading
While Bitcoin Trading against fiat money is available on numerous brokers, altcoin trading is a niche in which only few platforms are specialized. And their features differ a lot in many manners.
Depending on which features are critical for your trading needs, you have to choose a convenient broker. Differences concern the range of listed altcoins, if they support fiat money to buy an altcoin with USD or if they support Bitcoin/crypto deposits only. Do you search pairings with other currencies than just BTC – such as ETH or USD? Do you want to trade on margin? What are the trading fees? Let's have a look at the best Altcoin Brokers available:
Here is a List of the best Altcoin Brokers and their individual Features:
93
not yet
0.1%
Tradable Cryptos
USD / Fiat: Not supported
- Limit/Market Buy
- Limit/Market Sell
- Stop Loss
Binance is a relatively new altcoin trading platform which is already among the most popular ones and often even listed as No 1 trading platform for many altcoins on coinmarketcap.com. The platform seems to be fast growing with a very ambitious team behind it.
90
No
0.2%
EUR, USD (with ID verification)
- Limit/Market Buy
- Limit/Market Sell
- Stop Oders
- Fill or Kill
- Immediate or Cancel
- Day
- Good-Till-Oders
HitBTC is one of the few brokers which list a vast amount of altcoins, so they are really highly specialized in this field. Very significant compared to others (below) is that they also support fiat money. Other specialized altcoin brokers only support cryptocurrency deposits and withdrawals. Also you can deposit and withdraw all supported altcoins, not just BTC as on Bitmex.
Great for beginners: HitBTC has a Demo Mode. Up to date, margin trading is not enabled.
86
No
0.2%
No fiat money
- Limit Buy
- Limit Sell
Cryptopia is a giant when it comes to altcoins, especially their long list of unknown coins with low market cap is impressing. So it's a great playground for "shitcoin trading" ;) ! All listed altcoins can be deposited or withdrawn. USD / fiat money is not supported. You can only trade gainst USDT instead of USD.
91
up to 3.3x
0.0 to 0.2%
USD (with ID verification)
- Limit/Market Buy
- Limit/Market Sell
- Stop Loss
- Trailing Stop
- Take Profit
- Iceberg Orders
- TWAP
- Fill or Kill
- Post-Only Order
- Hidden Order
Bitfinex is also one of world's largest crypto brokers by volume. They list a couple of altcoins, even more than 10, with focus on the most important ones, high market cap and best projects.
USD is supported, so you don't have to possess BTC yet to start trading on Bitfinex. However, for fait money transfers, you have to go through the ID verification. Also you can deposit and withdraw all listed cryptos as well as USD. So a big benefit is that you are more flexible concerning currency transfers.
93
up to 33.3x
depending on Altcoin
0.2%
No other cryptos, no fiat money
USD / Fiat: Not supported
- Limit/Market Buy
- Limit/Market Sell
- Stop Loss
- Trailing Stop
- Take Profit
- Post-Only order
- Hidden order
Bitmex is one of the most professional crypto brokers globally, with high trading volume. Here you can trade just the few major altcoins – but on leverage. That's why the platform is No.1 for margin traders.
Note that you can only deposit and withdraw Bitcoin, meaning that Bitmex is used to get more Bitcoin by trading BTC against altcoins.
85
No
0.25%
No fiat money
Fiat: Not supported
- Limit Buy
- Limit Sell
- Stop Orders
- Good 'til Cancelled
- Immedtiate or Cancel
Bittrex is listing many altcoins in the high and middle range concerning market cap and popularity. USD / Fiat money is not supported, however, the major altcoins can be traded against USDT. So you have to own BTC or the cryptocurrency you want to trade to start on Bittrex. Deposits and withdrawals are possible for all listed coins. Note that margin trading is not supported in Bittrex so far.
81
2.5x (not for all Altcoins)
0.15% to 0.25%
No fiat money
- Limit Buy
- Limit Sell
- Stop limit orders
Only for enhanced withdrawal levels
Small hack in 2014
Poloniex also has a big altcoin portfolio and you can trade many of them with leverage. USD / Fiat money is not supported at all. But the major altcoins can be traded against USDT. Order types are very basic, at least they have a stop loss function.
81
No
0.2%
USD, RUR (by Qiwi, Payeer, Capitalist, PerfectMoney)
Fiat: USD, RUR
- Limit Buy
- Limit Sell
Yobit again is a trading giant especially in terms of middle to low marketcap coins, somewhat comparable to Cryptopia. If you are searching for specific low cap altcoins you're likely to find them on Yobit.
Leverage is not supported and order types are as basic as can be, even no stop loss order, just limit buy and sell – but that suits well for beginners. Many altcoins can be traded against ETH, DOGE and even WAVES, besides BTC of course.
Fiat currencies are supported (USD, RUR) for deposits and cashouts. And you can trade many Altcoins against USD or RUR.
92
5x
Generally none
(except margin trades)
No other cryptos, no fiat money
No USD cashouts!
- Limit/Market Buy
- Limit/Market Sell
- Stop Orders
- Take Profit
No hacks so far
Whaleclub must be mentioned – although they are not really a specialized altcoin broker. However you can trade the few listed altcoins on margin. So Whaleclub is great for Ethereum, Monero, Dash or Litecoin on margin (5x leverage!)
The broker only allows BTC and DASH deposits and withdrawals – fiat money is not supported as payment method. So altcoin margin trading has to result in BTC to be able to cash out profits. ETH and LTC can be traded against USD, but for cashouts in the end you need BTC or DASH, as mentioned.
The specialty about Whaleclub, compared to the other altcoin brokers is, that Whaleclub is a general broker for many assets, such as Stocks, Forex, Commodities, Indices, and Bonds. So you can trade all those assets besides cryptocurrencies, all based on BTC or DASH deposits only.
Geographical restrictions
Generally there are no national restrictions, so those altcoin brokers can be used by anybody all over the world. Especially the basic accounts, which all don't require ID verifications.
People living in countries which ban cryptocurrency trading sites, can still use them anonymously by using a VPN. Using a virtual private network you trick the system into thinking you were in another country, as your traffic gets tunneled through a foreign server. ExpressVPN, IPvanish and VyprVPN are top providers in this area.
Bitfinex margin trade restriction for US traders: Unfortunately, margin trading got disabled for verified US traders, for unknown reasons. However, this means that you are still able to trade on margin with an unverified account. Those basic accounts (just e-mail and password ) only allow crypto deposits and withdrawals.
