AltCoinTrader

What is AltCoinTrader？

AltCoinTrader, founded in 2015, is an unregulated South African cryptocurrency exchange. It supports 100+ cryptocurrencies including Bitcoin, Ethereum, Litecoin, Dogecoin, and Cardano. The platform reports a $10 million daily trading volume, charging 0.1% for makers and 0.2% for takers.

Pros and cons

Pros of AltCoinTrader:

• Diverse Cryptocurrency Selection: AltCoinTrader offers a comprehensive array of cryptocurrencies for trading, including popular choices like Bitcoin, Ethereum, Litecoin, Ripple, and more. This enables users to diversify their investment strategies and capitalize on varying market trends.
• Flexible Deposit and Withdrawal Options: The platform supports a variety of deposit and withdrawal methods, such as bank transfers, electronic funds transfer (EFT), and FNB eWallet. This affords users the convenience of managing their funds in ways that suit their preferences.

Cons of AltCoinTrader:

• Unspecified Leverage: AltCoinTrader does not provide explicit details about the maximum leverage available on its platform. This lack of transparency might hinder users' ability to make informed trading choices and effectively manage risk.

Regulatory Authority

AltCoinTrader is unregulated, it means the platform operates without oversight from financial authorities. This can bring risks:

• Security and Fraud: Unregulated exchanges might lack security and attract scams or fraud.
• User Protection: Regulations protect users; without them, users might have fewer safeguards.
• Transparency: Unregulated platforms might not disclose operations, making credibility assessment difficult.
• Legal Uncertainty: Users and the platform might face legal ambiguity without clear regulations.
• Market Manipulation: Unregulated exchanges can lack mechanisms to prevent unfair trading.
• Conflict Resolution: Disputes on unregulated platforms might be harder to resolve.
• High Risk: Unregulated trading carries more risks due to lack of oversight.

Security

User Feedback and Evaluation:

• User feedback specific to the security of AltCoinTrader is not mentioned in the provided information.
• Traders should conduct thorough research and consider user reviews to evaluate the security of any exchange.
• User feedback can offer insights into the platform's reputation and the experiences of other traders.

Enhancing Security Practices:

• Users can enhance security by enabling two-factor authentication (2FA) for their accounts.
• Using secure and unique passwords is essential to prevent unauthorized access.
• Storing funds in secure wallets adds an extra layer of protection against potential breaches.

How to open an account？

1. Access the Website: Visit the AltCoinTrader website and locate the “Register” or “Sign Up” button.

2. Fill Registration Form: Input your personal details, including name, email, and password, into the registration form.

3. Email Verification: Verify your email address by clicking on the link sent to your email after registration.

4. Additional Information: Provide any required extra details, such as address and phone number.

5. Identity Verification: Complete identity verification or KYC (Know Your Customer) procedures if needed. This might involve submitting documents.

6. Account Activation: After verification, log in to your account and start trading cryptocurrencies on the AltCoinTrader platform.

How to Buy Cryptos？

1.Log in your AltCoinTrader account with your email address and your password.

2. On the markets tab, select the Cryptocurrency you would like to buy in this case it would be Bitcoin.

3. In the “Buy” block, enter the amount of Bitcoin you would like to buy in the “Amount” field, enter the price you would like to pay for a full bitcoin in the price field, the total amount you will pay will be displayed in the “totals” field. To complete your purchase click on the buy button, a popup will appear for you to confirm your order, press the confirm button to place your order.

4. Confirm your buy order once you have checked the details on the pop-up that will appear.

5. If your order does not execute immediately please check in the “My Current Buy Offers” block. Orders may not reflect immediately if you change the price field as you will have to wait for somebody to be selling the Altcoin at the price you have entered.

Fees

Trading Fees:

• For all types of coins, AltCoinTrader charges a trading fee of 0.1% of the trade value.

Easy Buy & Sell Fee:

• AltCoinTrader imposes an additional fee for Easy Buy and Sell transactions.
• This fee is calculated as 0.75% of the trade value.

In summary, AltCoinTrader's trading fees include a standard 0.1% fee for all coins traded and an extra 0.75% fee for Easy Buy and Sell transactions. It's essential for traders to consider these fees when planning their trading activities on the platform.



Deposit & Withdrawal



Deposit and Withdrawal Options:

• AltCoinTrader offers deposit and withdrawal methods including bank transfers, electronic funds transfer (EFT), and FNB eWallet.

Processing Time Information:

• The provided information doesn't specify processing times for deposits and withdrawals.
• Processing times can vary based on payment methods and transaction specifics.

Is AltCoinTrader a Good Exchange for You？

AltCoinTrader stands out as an ideal platform for **Flexibility Seekers.** The exchange's diverse range of cryptocurrencies and flexible deposit/withdrawal options caters to traders who value versatility in managing their funds. This flexibility makes AltCoinTrader well-suited for those who seek a seamless experience in adapting their trading strategies and financial operations. Whether you're a beginner exploring different assets, an enthusiast interested in diverse cryptocurrencies, or an experienced trader implementing intricate strategies, AltCoinTrader's adaptability makes it a valuable choice for those who prioritize flexibility in their trading journey.

Target Audience and Suitability:

• AltCoinTrader's specific trading groups or target audiences aren't clear from the provided information.
• With its wide cryptocurrency range and flexible deposit/withdrawal options, AltCoinTrader may suit various traders.

• Beginner Traders: AltCoinTrader is fitting for beginners due to its extensive cryptocurrency options, allowing them to gain experience without changing platforms.

• Cryptocurrency Enthusiasts: It's attractive to enthusiasts interested in diverse cryptocurrencies beyond Bitcoin and Ethereum.

• Experienced Traders: Experienced traders can benefit from AltCoinTrader's range of altcoins to execute strategies.

• Flexibility Seekers: The platform's deposit and withdrawal options suit traders who want flexibility in fund management.

Compare with other exchanges

Features
Trading Fees	0.1% for all types of coins 0.75% for Easy Buy and Sell	Maker: 0.04%, Taker: 0.075%	Maker: 0.05% - 0.1%, Taker: 0.1% - 0.5%	Up to 0.40% maker fee and up to 0.60% for taker fee
Cryptocurrencies	100+	500+	11	200+
Regulation	Not regulated	Regulated by NMLS, MAS/FinCEN (Exceeded)	Regulated by FSA ( Japan), NMLS, CSSF, DFI, NYSDFS	Regulated by NMLS , FCA, NYSDFS, SEC (Exceeded), FINTRAC (Exceeded)