AltCoin Trader Review
What is AltCoin Trader?
AltCoin Trader is an exchange based in South Africa. It has been active since 2015, which is a very large time in the cryptocurrency industry.
Limited Number of Cryptocurrency Trading Pairs
The selection of trading pairs at this exchange is quite limited. If you want to sell or buy any 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 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 Fees
AltCoin Trader Trading fees
Most crypto exchanges charge two different types of trading fees: taker fees and maker fees. The taker is the person who picks up an existing order from the order book. The maker, on the other hand, is the person who creates an order that is not immediately matched against an existing order on the order book. Makers are often rewarded for creating liquidity on the platform by a lower trading fee than takers. Exchanges that do not make a distinction between takers and makers charge what we call “flat fees”. Altcoin Trader charges 0.10% for both takers and makers.
According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is currently 0.221% and the average spot trading maker fee is currently 0.177%.
Compared to those average trading fees, Altcoin Trader's taker fees and maker fees are below the industry average.
AltCoin Trader Withdrawal fees
AltCoin Trader's withdrawal fee is 0.00057 BTC per BTC-withdrawal. This fee is actually exactly in line with the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was 0.000577 BTC per BTC-withdrawal.
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.
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 choice for you.