A trading cryptocurrency guide must 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 Alterdice consists of four parts: general information, fees, deposit methods and security.
Alterdice is a quite new cryptocurrency exchange from Singapore. It launched in October 2018.
If you live in Singapore and want a cryptocurrency exchange from your home country, then you are truly spoiled. All of the following exchanges are registered in Singapore: Coinbene, Coinut, COSS, Coinhako, Cointiger, Kryptono, DragonEX, Coinhub, Tokenomy, Bitrue, Bitbox, ABCC, CRXzone, Kyber Network and Liquid. And this exchange, of course.
As the Alterdice-platform has been around for roughly 8 months when writing this review (30 June 2019), there is surely some distance left to cover in terms of liquidity. The 24 hour trading volume on the date hereof was USD 40 million. This liquidity is decent, but could be improved. As a comparison, the exchange with the highest 24 hour trading volume on the same date was Binance with a staggering USD 2.9 billion.
As many other exchanges, Alterdice does not accept US-investors on its platform. If you’re from the US and you’re looking for the trading platform that is just right for you, don’t worry. Use our Exchange Finder to find an appropriate exchange accepting US-investors.
Alterdice is also available as an application in your phone or reading tablet. This can be helpful for any investors interested in trading when “on the go”. Research shows that a vast majority of all cryptocurrency trades are executed through desktops. But, if you’re a mobile-kind-of-person, the Alterdice app might make you happy!
Alterdice 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. This is the trading view at Alterdice:
Alterdice Trading fees
Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. The takers are the people who “take” orders from the order book. This means that they remove order options from the order book and thereby remove liquidity. Makers are the ones who put the orders on the order book in the first place.
Alterdice charges takers 0.20% and makers 0.10%. These fees are in line with, or even slightly lower than the global industry average. The global industry average taker fee has for a long time been 0.25%, but we are now seeing more and more exchanges shifting to lower fees (0.15% or 0.10%).
Alterdice Withdrawal fees
Withdrawal fees are normally a fixed amount that varies from cryptocurrency to cryptocurrency. There are however also a number of exchanges that charges a certain percentage of the withdrawn amount as the withdrawal fee.
Alterdice has a quite uncommon structure in the way that they both a fixed withdrawal fee and a percentage based withdrawal fee. For Bitcoin, the fixed fee is 0.0001 BTC + 0.10% of the withdrawn amount. The minimum withdrawal fee is always 0.0005 BTC (which is what we have listed as Alterdice’s withdrawal fee in our database).
The global industry average fixed BTC-withdrawal fee is 0.000812 BTC per BTC-withdrawal, but it is naturally difficult to compare that average with Alterdice’s fees as the Alterdice fee structure is a hybrid model.
This exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at this exchange, you will have to purchase cryptos from another exchange first and then – as a second step – deposit them here. Don’t worry though, you can find a so called “entry-level exchange” simply by using our Exchange Finder tool.
We run all the exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/). The score in such test is one of many indicators of the exchange’s security.
Alterdice received a C-score in this test. C is actually a very good score in this test. Surprisingly enough, the majority of all exchanges in our Cryptocurrency Exchange List only receive an F in the Mozilla Observatory-test.
It is also worth mentioning that Alterdice states on its website that it stores 98% of all customers’ funds offline. In addition, the exchange uses auto DDoS attack protection, it creates daily backups and it has 2FA as an optional functionality for all of its users.
Low trading fees are indeed very important for any prospective cryptocurrency investor. All of the following exchanges also – like the above exchange – have low trading fees (some of them don’t even charge trading fees at all):