Is AltCoinTrader a Good Crypto Exchange for Beginners?
It is important for novice cryptocurrency traders to choose the right crypto exchange. Not all companies can be used when you are just starting your path in trading, which is why the success in cryptocurrency trading depends on making the right choice. Beginners often wonder whether AltCoinTrader is a good crypto exchange to start trading with. In this article you will learn whether AltCoinTrader is good for beginners, what its pros and cons are and what a novice trader needs to know.
Short summary about the broker AltCoinTrader
AltCoinTrader cryptocurrency exchange is a young and progressive South African platform with good trading conditions. It offers access to trading the majority of popular cryptocurrencies and coins, including Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ripple, Tether and others. The South African rand (ZAR) is the only available fiat currency, as the platform is primarily targeted at this region. However, the exchange has no restrictions for the residents of other countries with traders from different parts of the world trading there. The exchange offers low trading fees and TradingView Basic as the trading platform. In addition to trading in the browser, mobile trading is available in proprietary apps for Android, iOS and also Huawei gadgets. In addition to trading, there is an easy exchange service (Easy Buy & Sell). The exchange does not have investment offers or a partnership program.
| 💰 Account currency: | Cryptocurrencies, ZAR |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
AltCoinTrader Pros and Cons
👍 Advantages of trading with AltCoinTrader:
•All most popular cryptocurrencies and tokens are available, deposit in fiat money is available;
•The platform has low trading fees at 0.1% regardless of the client’s trading volume;
•In addition to the trading platform, there is a service of easy exchange of cryptocurrencies and coins;
•The platform is very simple, user-friendly with intuitive interface;
•The exchange uses SSL certificate, protection against DDoS attacks and other state-of-the-art means of security;
•The exchange does not have a minimum deposit requirement, regional restriction or limitations for trading strategies;
•The exchange has a Help Center featuring information on the basis of crypto trading and working with the TradingView platform.
👎 Disadvantages of AltCoinTrader:
•no other fiat money, except for the South African rand;
•no passive income options.
What is a Good Crypto Exchange for Beginners?
In order to choose the right broker for a beginner, you need to consider several aspects.
Here are the main ones:
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Education. It is important for novice crypto traders to learn how to trade. An exchange can offer educational courses, video tutorials, articles, webinars, etc. The more learning opportunities there are the better.
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Availability of a demo account. You will need this account to practice. It provides an opportunity for a beginner to trade risk free and try out trading strategies.
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Availability of a simple method to buy cryptocurrencies. An exchange service or a P2P exchange would be an advantage for an exchange.
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Low fees. The level of income of the trader depends on the level of the fees. Therefore, it is important to choose a company that charges minimum fees. Crypto exchanges mostly use the Maker and Taker fee model. It is important that you study them.
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Instruments for passive investing. In addition to active trading, passive income is also important for beginners. Pay attention to availability of copy trading or staking.
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Trading platform. It is important for a novice trader to choose the simplest trading platform that will be easy-to-use for trading.
In addition to these factors, you also need to consider how customer support operates, as it will also be important. Bonuses for beginners are also a nice perk.
Trading Conditions for AltCoinTrader Users
Before you start working with an exchange, it is important that you evaluate its trading conditions. AltCoinTrader offers traders the following conditions.
| 💻 Trading platform: | TradingView Basic |
| 📊 Accounts: | Standard |
| 💰 Account currency: | Cryptocurrencies, ZAR |
| 💵 Replenishment / Withdrawal: | Bank accounts, electronic and crypto wallets |
| 🚀 Minimum deposit: | $1 |
| ⚖️ Leverage: | 1:1 |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | from 0 |
| 💱 Spread: | Market |
| 🔧 Instruments: | Cryptocurrencies, currencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | No |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | No |
| 📋 Orders execution: | N/A |
| ⭐ Trading features: | Only one fiat – ZAR, pairs with the most popular cryptocurrencies and coins, no investment solutions and referral program, very basic version of the trading platform, application for Huawei, exchange services, low fixed fees |
| 🎁 Contests and bonuses: | Yes |
Commissions and Fees
The size of commissions and fees is also an important factor of choice. Traders Union analysts have prepared a short review of AltCoinTrader commissions and fees. In this section, you will find trading fees of the exchange as well as withdrawal fees.
Fee policy is one of the reasons for the popularity of AltCoinTrader crypto exchange. The platform does not have trading levels; its clients are equal regardless of how long they have been trading on the platform and their trading volume. The trading fee is fixed at 0.1%. It does not change. The exchange does not have its own token or other ways to reduce the fee. The only way is to get a rebate from TU. For the exchange service, the fee is different. It is 0.75% of the trade value regardless of the assets, direction of the exchange and trade volume. There is no way to influence this fee.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.1% per trade | Yes |
Investment programs of AltCoinTrader
It is important for novice traders not only to trade actively, but also earn passive income. Passive investing can help you earn extra profit, and also compensate for the losses you may incur as a result of active trading. AltCoinTrader offers the following passive income options.
Investment Programs, Available Markets, and Products of the Crypto Exchange
The exchange does not offer investment options. There is no staking or similar programs, which are available at some other exchange. The clients of the company can only earn their profit from trading cryptocurrencies and tokens at the exchange.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of thedeal and all the steps from signing up to withdrawal of profits.
AltCoinTrader’s affiliate program
AltCoin Trader crypto exchange does not have referral (partner) programs. Some experts view this as an advantage of the platform that speaks for its progressive development and lack of the need to additionally encourage the inflow of new clients.
Conclusion. Is AltCoinTrader good for beginners?
The AltCoinTrader cryptocurrency exchange will be an excellent choice for beginners. The exchange offers a convenient trading platform, which a beginner can learn to work with rather quickly. There is an excellent education center with a large number of materials for novice traders. Also, traders can earn passive income on good conditions. Therefore, AltCoinTrader could be considered as a good cryptocurrency exchange for a start.
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FAQ
What do I need to know about the fees charged by cryptocurrency exchanges?
The majority of cryptocurrency exchanges use the Maker/Taker fee model. As a rule, they use a multi-level system for traders that depends on the trading volume. The higher the trader’s trading volume, the lower the fees.
How do I choose a reliable cryptocurrency exchange?
Crypto exchanges mostly operate without licenses, as the majority of countries haven’t adopted legislation to regulate them. In order to choose a reliable exchange, you need to find out about its reputation and read the reviews about user experiences with it.
How many cryptocurrencies could a crypto exchange offer?
The number of cryptocurrencies on the listing of a cryptocurrency exchange may be very different. Some platforms offer less than 10, while others – several hundreds. It is important that you check the choice of cryptocurrency before registering on the exchange.
What are the risks of investing in cryptocurrencies?
Investing in cryptocurrencies carry high risks due to their high volatility. It could cause substantial losses, which is why it is important to observe the rules of risk management.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.