To understand what an altcoin exchange is, you must first understand what altcoin is. Altcoin stands for “alternative coin’ and is basically every other cryptocurrency alternative other than bitcoin. Altcoins are a lot less popular than bitcoin, and thus a lot less competitive and more affordable than bitcoin. An altcoin exchange is a currency exchange centre where altcoin cryptocurrencies can be bought, sold or traded.
The most well-known and competitive altcoins are:
Reputable Altcoin Exchanges
Due to the fact that altcoin is not as popular as bitcoin, there are limited altcoin exchanges available that support the growing need for effective, safe and transparent altcoin trade. These are a few of the more reputable altcoin exchanges available online today:
- Poloniex is known as one of the most reputable sources for altcoin exchange, even though they don’t list all available altcoins on their website
- Kraken has been used extensively for bitcoin trading in the past, but the company has now also opened up support for altcoin trading too
- Bittrex is known to support both existing and emerging altcoins and currently supports over 190 cryptocurrencies
- EXMO is another well-known and reliable altcoin exchange that is trusted the world over