Where to Buy Altcoins in 2022
If you are just starting to trade altcoins, the first question you are sure to ask is where to buy altcoins. There are many places where you can do it. We will consider the most common options and learn how to choose the most profitable and reliable among them.
Where to Buy Altcoins
The most common ways of exchanging and purchasing altcoins cover cryptocurrency exchanges, pre-ICO events, mobile apps, and direct exchange between users.
Exchanges
Most exchanges have their own wallets for storing funds. A deposit is required to purchase tokens or altcoins. As soon as the deposited sum reaches your wallet, you can exchange the base cryptocurrency for altcoins.
Presales
A pre-sale of tokens allows developers to raise additional funds for the implementation of a particular startup. But because the project is new and not yet established on the market, the preliminary sale is performed for a small group of investors and at the lowest possible prices. Then, after the official token entry to the market, its price increases, as well as the profit of investors.
Mobile Apps to Buy-In
Some exchanges offer mobile applications for a quick purchase and sale of crypto, so it’s another convenient place where to buy altcoins. The most popular among the apps is Gemini.
Wallets
Wallets can be hot, i.e. designed to perform certain operations quickly, and cold. Cold wallets are as secure as possible, but they don’t allow the direct exchange of altcoins. Investors usually keep most of the money in cold wallets and leave only the amount intended for rapid exchange between users in hot wallets.
Best Places to Buy Altcoins
Decentralized exchanges for cryptocurrency trading are the best place to buy altcoins. We will tell you how to determine the reliability of the platform below, and now we will share a selection of the guaranteed best places where you can invest in altcoins.
Binance
Many ratings mark the platform as the best place to buy altcoins. It is most convenient to do this using their mobile application. You can pay for the purchase via bank transfer or P2P. $1 is enough to start working with the platform. In addition, it offers trading more than 500 types of cryptocurrencies to diversify traders’ portfolios and has very low transaction fees.
Coinbase
Everyone who has ever tried to exchange one type of cryptocurrency for another has heard about Coinbase. The platform has one of the largest trading volumes and maximum transaction protection. The service keeps 89 percent of users' assets in cold wallets, which means the excellent security of funds. So, now you know exactly where to buy altcoins as safely as possible.
Gemini
For those who like to work with cryptocurrencies through mobile apps, the Gemini platform is the best choice. There are three shopping apps designed for iOS and Android users. Working with more than 45 types of altcoins is available in the applications. Among the advantages of the platform are low fees for daily auctions and liquidity generation, a user-friendly interface, and no fee for inactivity.
Kraken
Kraken is a very famous crypto exchange. The platform offers a wide range of altcoins, including Ripple, ZCash, and Stellar Lumens. The amount of the commission depends on the amount of your transactions and the type of altcoin you choose to buy. A professional customer support service, user-friendly interface, and easy procedure for account registration and verification are among the advantages of the resource.
KuCoin
When considering the most convenient and beneficial services where to buy and sell altcoins, we cannot ignore KuCoin. The service guarantees its users the highest level of security, reliable storage of funds, comfy automatic trading, and profitable trading pairs.
Things to Consider When Choosing the Platform
Here are some simple tips to help you find the best place to buy altcoins. Use them to choose the most reliable, simple, secure, and profitable platform.
Reputation
When you are just starting out in cryptocurrency trading, you should pay attention to proven resources. Quality services have many positive reviews from other users. It is also advisable to read reviews of experts and study their opinion on whether to trust a platform or not. You will have to spend some time on research, but if you are sure that a platform has a good reputation, you will be confident in every transaction you perform.
Verification Speed
Most of the best places to buy altcoins require providing proof of identity and filling in a small questionnaire. Only after undergoing the verification, your account will be admitted to cryptocurrency trading. Find out how long you will have to wait for this procedure to take place. The sooner the profile is verified, the more convenient it is for the user.
Deposits and Withdrawals Methods
Make sure that the chosen platform will allow you to make a deposit in a way convenient for you: bank transfer, bank card, PayPal, cryptocurrency wallet, etc. Also, pay attention to how long it takes to transfer and withdraw funds since each platform may have its own process of handling payments. It is optimal when a deposit is credited in a few minutes, and a withdrawal takes up to 10 days.
Security
Check how protected the service is. Most services talk openly about their security methods. Besides, information on reliability can be found in user reviews and testimonials. Trust those exchanges that keep half or most of their assets in cold wallets. This will save you money even if the system is hacked.
Liquidity Level
Liquidity means how easy it will be for you to sell or exchange tokens. In addition, high liquidity allows you to conduct transactions faster and with lower fees. Liquidity is formed from a high flow of orders for pairs selected for exchange. It is especially important to pay attention to this parameter in periods of high volatility, which happens quite often in cryptocurrency markets.
Available Altcoins
Some exchanges have only 1-3 variants of the most common altcoins, while others offer even rare cryptocurrencies. Information on cryptocurrency pairs traded on the platform is freely available, and you can read it before the registration process.
Fees
Exchanges charge fees for depositing and withdrawal of funds, for cryptocurrency exchange and additional services. However, high competition forces them to abandon certain fees. The size of the fees often depends on the transaction amount, the type of altcoin you are dealing with, and other factors.
Why to Buy Altcoins?
We have already decided where to buy and sell altcoins. However, there is another question, why should you do it? Here are some reasons for you to consider:
Popular Altcoins to Buy
There are many altcoins on the market. Most of them have a small market cap, reaching less than $1 billion. However, some altcoins boast a higher market value and, thus, are safer for investment.
So, in addition to choosing where to buy altcoins, you should pay attention to options such as:
Buying Altcoins Safely
It is very important to make sure that a project is safe before investing real money in it. You can check the legality of the crowdsale as follows:
A transparent ICO procedure requires the user to go through KYC.
The team that developed the altcoin should have an established reputation and experience in implementing other IT projects.
It is desirable that the altcoin is supported by an online project that can serve as a basis for high liquidity.
Where to Buy New Altcoins?
There are several ways to find new altcoins on sale. Again, the best place to buy and sell altcoins is a crypto exchange. This is the easiest and most convenient way to exchange crypto or fiat currency for new coins. Online exchanges list the latest cryptocurrencies, which are already officially launched on the market.
However, investors may look for other places where to buy new altcoins if they want to participate in a presale. They track such buying opportunities on thematic websites, decentralized exchanges, the official pages of potentially profitable startups, and even on social networks. In the pre-ICO phase, the investor gets the opportunity to buy a certain amount of altcoins at discounted prices, as official sales are yet to come and the liquidity of the coins has not yet been proven.
Summing Up
Knowing how to properly trade major cryptocurrencies and where to buy other altcoins, you can earn decent money on rising prices. It is optimal to choose no more than 1-3 sites for trading because a large number of services are difficult to monitor. This way, you will eventually be able to become a true professional on the market of alternative coins.
Frequently Asked Questions
Where to Buy Altcoins?
The easiest way is to buy altcoins on cryptocurrency exchanges. The latest altcoins can also be purchased from the development team during a pre-ICO.
How to Choose the Best Place for Buying Altcoins?
To choose the best platform for working with altcoins, you should explore the available cryptocurrency pairs, commissions, ease of use, security of the resource, and its reputation. Also, pay attention to the ways and speed of transferring funds.
What Are the Best Places to Buy Altcoin Safely?
The safest cryptocurrency exchanges are Binance, Coinbase, and Kraken. These are reliable platforms for buying and selling altcoins.
