Best Altcoin Exchange for 2022

Top5 Best Altcoin Exchange for 2022

If you’re looking to buy cryptocurrencies in addition to just Bitcoin, you will need to have an account with a top altcoin exchange. Not only should your chosen exchange support your preferred altcoins, but it should offer low fees and a safe place to trade.

In this guide, we compare the best altcoin exchanges for 2022 through comprehensive reviews.

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The Best Altcoin Exchanges for 2022

Below you will see a quick list of the best altcoin exchanges that are worth considering today.

eToro – Overall Best Altcoin Exchange in the US for 2022

Crypto.com – Great Altcoin Exchange for Earning Interest

Binance – Popular Altcoin Exchange With Low Commissions  

Coinbase – Good Altcoin Exchange for Beginners

Huobi – Top Altcoin Exchange for Diversification

Webull – Invest in Crypto From Just $1 With This Altcoin Exchange

ByBit – Altcoin Exchange Offering Derivative Markets

Luno – User-Friendly Altcoin Exchange App

Kraken – Trade Altcoins With Leverage

Gemini – Safe and Regulated Altcoin Exchange Based in the US

If you’re on the hunt for the best altcoin exchange chances are you might be also interested in the best DeFi exchanges out there.

You will find comprehensive reviews of the best altcoin trading platforms listed above in the sections below.

The Top 5 Altcoin Exchanges Reviewed

When searching for the best altcoin exchange in the market, we looked at the following factors:

Regulation and trust

Supported altcoin markets

Availability of leverage and margin

Fees and commissions

Trading tools and features

Minimum deposit requirements

And more

We focus on the above factors in our reviews below – which cover the five best altcoin exchanges for 2022.

1. eToro – Overall Best Altcoin Platform for 2022

To get started with the overall best altcoin exchange in the market right now – look no further than eToro. This platform is home to dozens of altcoins – all of which can be bought and sold from just $10 in a safe and secure way. Moreover, fees are super low here – especially when it comes to funding your account. 

For instance, while many crypto exchanges charge in excess of 3% to deposit funds via a debit or credit card, US clients can use this payment method fee-free. Moreover, fee-free deposits are also available via Paypal, Skrill, ACH, domestic bank wires, and more. We also like that you only need to deposit $10 to open an account. 

At eToro, some of the best altcoins to buy include Ethereum, BNB, Cardano, EOS, Dash, and Monero. You can also invest in DeFi coins like Decentraland, AAVE, Cosmos, and SushiSwap. Another way that you can buy cryptocurrency at eToro is via a smart portfolio. These are professionally managed by eToro, so you can invest in a basket of digital tokens passively.  

etoro review 2022

eToro is also one of the best copy trading platforms in the crypto space. For those unaware, this tool enables you to copy a seasoned crypto trader like-for-like, meaning – you can actively buy and sell digital currencies in a passive manner. In addition to crypto, eToro is also home to stocks and ETFs, as well as forex, commodities, and indices.

When it comes to security, eToro offers an in-house crypto wallet – so you don’t need to worry about your private keys being hacked. eToro also offers a mobile crypto wallet via an iOS and Android app. This connects to your main eToro account – so you can trade and store crypto in a seamless way.

However, perhaps the most important reason why we believe that eToro is the best altcoin trading platform in the market is that it is heavily regulated. This leads us to a key question: is eToro safe? Licensing at this exchange comes from the SEC, FCA, ASIC, and CySEC. eToro is also a member of FINRA. Ultimately, eToro’s regulated and low trading space is why more than 20 million people now use the platform to invest. For a complete rundown of all the key metrics and features associated with this popular social trading platform you can read our eToro vs Coinbase review.

Number of Altcoins58
Debit Card FeeFREE
Fee to Buy EthereumSpread + 1%
Minimum Deposit$10

What We Like:

Dozens of cryptocurrencies to trade

Minimum deposit only $10

Regulated by numerous top-tier entities

Accepts credit/debit cards and PayPal deposits

User-friendly trading app

Very low fees

When we compared eToro vs Robinhood, the former has lower fees and supports copy trading.

2. Crypto.com – Great Altcoin Exchange for Earning Interest

crypto.com logoCrypto.com is home to over 250+ altcoins – so if you’re looking to diversify with the best long term crypto investments, this exchange is well worth considering. We like the fact that accounts take just minutes to open and once you are verified – you can instantly buy crypto with a debit card. This will cost you a fee of 2.99% – although this is often waivered for new customers.

Alternatively, you can reduce your costs by transferring funds via ACH or a domestic bank wire fee-free. When the funds arrive, you will then pay just 0.40% per slide. Crypto.com is also behind a popular altcoin – CRO, which gives you the opportunity to reduce your trading commissions.

We also found that Crypto.com is one of the best altcoin trading platforms for earning interest on your crypto holdings. Its crypto savings accounts support dozens of altcoins and yields are based on how long you lock the tokens away. This is a choice between one and three months or no lock-up period at all.

Moreover, the previously discussed CRO token allows you to increase your APY. Another popular feature offered by this top-rated altcoin exchange is its crypto loans. This allows you to raise funds at short notice without being forced to sell your crypto tokens. And finally, Crypto.com offers a secure mobile wallet app, as well as an NFT marketplace.

Number of Altcoins250+
Debit Card Fee2.99% (sometimes waivered for new customers)
Fee to Buy EthereumUp to 0.40% commission
Minimum Deposit$20 when using ACH

What We Like:

Over 250+ crypto coins supported

Accepts debit/credit cards and bank transfers

Great reputation

Offers crypto interest accounts and lending services

Competitive fees

Offers one of the best crypto credit cards on the market

3. Binance – Popular Altcoin Exchange With Low Commissions

binance logoBinance is well known in the altcoin space, not least because the cryptocurrency exchange gives you access to hundreds of markets. Trading fees here are super-low too – as commissions start at just 0.1% per slide. In a similar nature to Huobi and Crypto.com, Binance offers reduced trading fees when you hold its native token – BNB. For more on how to buy Binance Coin you can read our guide here.

In terms of trading tools, Binance offers an advanced platform that allows you to perform in-depth technical analysis. Newbies can, however, buy altcoins via a simple interface with US dollars. Fees on deposits will depend on your chosen payment type. ACH and bank wires, for instance, are free of charge.

If you wish to use a debit or credit card, US clients will pay a fee of 4.5%. This is charged in addition to an instant buy fee of 0.5%. You can also deposit funds with Bitcoin – which typically takes 20 minutes to be credited to your Binance account. In terms of storage, Binance offers a decentralized wallet called Trust.

This also gives you access to DApps – such as Pancakeswap. Alternatively, beginners might prefer to keep their altcoins in their Binance web wallet. This is protected by two-factor authentication and IP address whitelisting. The latter means that if you try to log in from a new location, additional security checks are carried out.

Number of Altcoins600+ (60 for US clients)
Debit Card Fee4.5% plus 0.5% buy fee
Fee to Buy EthereumUp to 0.10% commission
Minimum DepositDepends on payment method

What We Like:

Huge selection of markets

Trading fees of just 0.10% per slide

Supports debit cards

Numerous wallet options

Advanced trading tools

4. Coinbase – Good Altcoin Exchange for Beginners

Next up on our list of the best altcoin exchanges for 2022 is Coinbase. This platform is arguably the best option for beginners. No prior experience is needed to buy altcoins here and you can easily open an account from the comfort of home. We also like that debit and credit cards are supported, although fees are expensive.

Although not quite as costly as Binance, debit/credit card payments are charged at 3.99%. This is also the case should you wish to buy altcoins with PayPal. With that said, ACH transfers are fee-free, so it’s only the standard commission of 1.49% that you will need to cover. Crypto deposits are supported too – so this is another payment method to consider.

In terms of supported altcoins, Coinbase typically focuses on medium and large-cap coins. Examples here include Ethereum, Shiba Inu, Dogecoin, Cardano, and USD Coin. Notable exceptions at Coinbase include XRP and BNB. Nevertheless, Coinbase is great for security too – as 98% of client tokens are kept offline in cold storage.

Two-factor authentication is mandatory at Coinbase, so that’s an extra layer of security on your funds. Once you have purchased your chosen altcoin tokens, you can store your digital assets in your Coinbase web wallet. You can also transfer them to the Coinbase non-custodial wallet, which is available as an iOS and Android app.

Number of Altcoins50+
Debit Card Fee3.99%
Fee to Buy Ethereum1.49% commission
Minimum DepositDepends on payment method

What We Like:

Great for beginners

Support for debit/credit cards and Paypal

Good selection of altcoins

Top-rated security features

5. Huobi – Top Altcoin Exchange for Diversification   

Huobi is one of the best altcoin exchanges to consider if you are looking to diversify across the best DeFi coins. At this exchange, you will find hundreds of altcoins across a variety of trading markets. For instance, most investors at Huobi will look to access spot trading markets.

This typically consists of altcoins paired with USDT. You can, however, also trade altcoins against other digital currencies. If you have a higher appetite for risk, you can also trade altcoins with leverage. Experienced investors at this top-rated altcoin exchange will perhaps consider trading crypto derivatives. This covers a range of futures markets – all of which can be accessed on margin.

When it comes to fees, Huobi charges an entry-level commission of 0.20% per slide – which is very cost-effective. You can reduce your trading commissions when you hold the Huobi Token (HT). For example, holding more than 10 HT will amount to a reduction of 10%, while over 100 HT reduces your fees by 20%. 

Huobi is also popular with investors that wish to earn interest on their altcoin investments. In fact, you’ll have access to industry-leading APYs, with many altcoins yielding hundreds of percent in interest per year. Lock-up terms typically average 7-14 days. Finally, Huobi does allow you to buy altcoins with a debit/credit card – but this will cost you up to 3.9% in fees.   

Number of Altcoins400+
Debit Card FeeUp to 3.9%
Fee to Buy EthereumUp to 0.20% commission
Minimum DepositDepends on payment method

What We Like:

Low trading fees

Numerous derivatives markets offered

Huge range of cryptos to trade

Crypto savings accounts offered

The Best Altcoin Exchanges Compared

Our key findings of the best altcoin exchanges for 2022 can be found in the comparison table below.

Altcoin ExchangeNumber of AltcoinsDebit Card FeeFee to Buy EthereumMinimum Deposit
eToro58FREE1% plus market spread$10
Huobi400+Up to 3.9%Up to 0.20%Depends on payment method
Crypto.com250+2.99%Up to 0.40%$20 with ACH
Binance600+ (60+ for US clients)4.5% + 0.5%Up to 0.10%Depends on payment method
Coinbase50+3.99%1.49%Depends on payment method

What is an Altcoin Exchange?

An altcoin exchange gives you access to cryptocurrencies other than just Bitcoin. Although there are over 18,000 altcoin projects in circulation, top-rated exchanges in this space typically limit their offering to a few hundred. After all, many altcoins carry a tiny market capitalization and attract little interest from serious crypto investors.

The best altcoin exchanges that we reviewed today operate in a similar manner. This is because you will first be required to open an account and deposit some funds. If opting for a deposit in US dollars, then you also need to provide the altcoin exchange with some government-issued ID.

What is an Altcoin Exchange?

All altcoin trading exchanges – irrespective of the services offered, charge fees. This means that you will pay a commission on each buy and sell order that you place. In most cases – with eToro being the exception to the rule as per our market research, you will also need to pay deposit and withdrawal fees on USD payments.

How to Choose the Best Altcoin Trading Platform for You?

According to CoinMarketCap, there are just over 300 altcoin exchanges in the market. Naturally, this can make it challenging to know which exchange is a good fit for you.

In the sections below, we help clear the mist by discussing the most important considerations to make when choosing the best altcoin exchange for your goals.

Regulation

We mentioned above that there are now over 300 altcoin exchanges to choose from. However, the one thing that most altcoin exchanges have in common is that they are not regulated by a financial authority.

This means that you can never be sure that your funds are safe or that you are trading in fair market conditions. With that said, the good news is that there is a selection of altcoin trading exchanges that do things by the book – meaning that they have regulatory oversight.

For example, eToro is licensed by the SEC and registered with FINRA – as is Coinbase. You then have Gemini, which holds a license with the New York State Department of Financial Services.

Tradable Altcoins

It’s likely that you have a good idea of which altcoins you wish to actively trade. If so, you should head over to your chosen altcoin exchange to ensure that it supports your chosen tokens.

If you’re unsure which altcoin markets interest you – here’s the lowdown.

Altcoin-USD Pairs

When you use an exchange that is approved to offer crypto services to US clients, you will be able to trade altcoins against the US dollar.

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Disclaimer: this content for informational purposes only. This should not be taken as financial advice to buy, trade, or sell cryptocurrency or use any specific exchange.