At which stock exchange can you buy Omnisego

This is how you trade altcoins on trading platforms

Trade with altcoins

Last year, Bitcoin saw a rapid upward trend. In its slipstream, however, other crypto currencies followed suit or even overtook the market leader in terms of price gains. But where can you buy these altcoins? As a rule, it is easiest to buy a common crypto currency such as Bitcoin, Ether or Litecoin through a so-called broker. From my point of view, the Coinbase platform is a good choice here (if you register via the link, you and I will get $ 10 for free for the first Bitcoin purchase). After you've bought the first coins, they are immediately posted to your online wallet. From there you can then forward your Bitcoins & Co to a crypto exchange. But on which exchange? Here I present the 3 most important crypto exchanges for trading with altcoins from my point of view.

Bittrex

The crypto exchange Bittrex is based in the USA and is probably one of the most famous trading platforms for crypto currencies. The platform has been online since 2014 and has established itself well over the years. A big plus point of Bittrex is the number of tradable currency pairs. You can currently exchange your bitcoins for around 200 altcoins, including smaller, (still) unknown currencies. You can log in and register using your email address and password. A short time later you will receive an email with a confirmation link. Then you can register on the platform and start trading. No further verification is required to trade in altcoins. However, if you want to make withdrawals from your wallet, you have to be verified with your ID. With a “Basic” verification, up to 3 Bitcoin transfers per day are possible. In my opinion, the site is clearly structured and offers all common tools and charts that are also known from stock exchanges. On the overview page you can also see which currencies are currently being traded with high volumes or which coins are posting the most profits or losses.

Per

  • Large number of tradable altcoins
  • fast execution of the order
  • clear trading platform
  • Good security measures: Two-Factor Authentication, IP Whitelist, Withdrawal Whitelist

Contra

  • high fees compared to other exchanges

Bitfinex

The platform made headlines when a hacker attack stole $ 72 million in bitcoins from it in 2016. Usually something like that means the end of a company - Bitfinex remained liquid and even managed to reimburse the deposits to the users. Only a few currencies can be traded from the exchanges listed here - currently there are 25. However, there are also emerging currencies such as Iota or OmniseGO, which you will look for in vain at Bittrex. As with most exchanges, registration is relatively simple - enter your email address, assign a password and then confirm the email address. What may be a bit confusing at the beginning is that you have 3 wallets for each currency (Exchange / Margin / Funding). But that's because you can, for example, lend your coins to other investors for interest. These are then in the funding wallet. So if you don't want to trade right now, the Bitcoins & Co can yield a few interest.

Per

  • Coins can be lent and thus generate interest (keyword Lending / Funding)
  • low fees
  • Good security measures: Two-Factor Authentication, Withdrawal Whitelist, encrypted email traffic, IP whitelist

Contra

  • low number of tradable coins

 

Binance

Binance is probably the youngest of the platforms listed here for crypto trading, it went online in mid-2017. 80 Altcoins can currently be traded on Binance. Even with Binance, it is sufficient to enter your email address and assign a password, then you can start trading. Without verification, you can withdraw up to 2 Bitcoins a day. So here it is possible to act completely anonymously. Above all, the low trading fees of 0.1% - 0.05% make the exchange attractive. However, I do not find the interface very clear and it is also not designed very intuitively.

Per

  • good number of tradable Altocins
  • German surface
  • low trading fees
  • high trading volume

Contra

  • a bit confusing at the beginning
  • only two-factor authentication

Conclusion

Each of the exchanges has its particular strengths. While Bittrex stands out with a variety of tradable Altcoins, Bitfinex offers the option of lending its coins against interest. Binance offers cheap fees, a German interface and a good number of tradable cryptocurrencies. I currently use all 3 exchanges, but my favorite at the moment is Bittrex. For me, the interface looks tidier and is easier to use. The high number of coins also appeals to me.

Since registration is quick and free on all platforms, everyone can choose their own favorite crypto exchange.

The only disadvantage for Europeans is that you cannot make deposits in euros (with Bitfinex only from € 10,000), here you have to make the detour e.g. via Coinbase.