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 Altmarkets consists of four parts: general information, fees, deposit methods and security.
Altmarkets is a small cryptocurrency exchange from the United Kingdom.
United Kingdom is the country that has the most cryptocurrency exchanges in the world. At least that we know of. In our Cryptocurrency Exchange List, we list the following UK-exchanges (in addition to Altmarkets): Exmo, CEX.io, CoinEgg, Livecoin, DSX, LocalTrade, Bittylicious, CoinMate, Indacoin, MixCoins, Paybis, Vaultoro, XCH4NGE, Rfinex, Cryptonex, N.Exchange, Bitcoinfive, Cryptomate, Trade Satoshi, Luno, CoinFalcon, Bitstamp, Coinfloor, Gatehub, BTC-Alpha, Xena Exchange and Instant Bitex.
As Altmarkets is a relatively new exchange, there is room for improvement when it comes to the exchange’s liquidity. On the date of first writing this review (8 June 2019), the 24 hour trading volume was only a bit over USD 2,000. On the date of last updating this review (16 March 2020, right in the middle of the crisis with COVID-19), the 24 hour volume was the same (USD 2,080), according to CoinGecko. This is very worrying and indicates that the exchange will have to shut down in the near future.
Altmarkets accepts US-investors on its platform, but any investor from the US should still do their own independent analysis of any issues arising from their citizenship or residency.
Altmarkets 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. At this exchange, there is only order boxes and a small price chart window, as set out below. This makes it easily understandable for new crypto investors, while it might lack some features that more experienced traders look for. The below is a picture of the trading view at Altmarkets:
Altmarkets 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. At this exchange, they don’t divide between takers and makers. Each party to a transaction pay the same fee: 0.015% of the order value. These trading fees are incredibly low and very consumer friendly, especially when comparing against the global industry average. Industry average has for a long time been 0.25%, but we are currently seeing a shift towards lower fees. Many exchanges now charge e.g. 0.10% or 0.15% instead. However, there are only a handful of exchnages in the world with trading fees as low as 0.015%.
Altmarkets Withdrawal fees
There are exchanges out there that charge low trading fees and then hit you with high withdrawal fees. Because once you’re in, you can’t get out without paying withdrawal fees. Altmarkets, however, is on the totally opposite side of the spectrum. They only charge the network fees when you execute a transaction. The global industry BTC-withdrawal fee is 0.000812 BTC per withdrawal. The network fees vary from day to day but are roughly 15-20% of the global industry BTC-withdrawal fee. Accordingly, also the withdrawal fee model at this exchange is competitive.
All in all, the fees at Altmarkets are substantially below the industry average and thus very competitve and consumer-friendly.
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.