The cryptocurrency market is huge with over 2,000 altcoins available across exchanges. Some of them are trying to improve upon the leaders like Bitcoin or Ethereum, while others aim to disrupt specific industries by bringing viable solutions. You have dozens of cryptocurrency exchanges to choose from, but finding the one that meets all your criteria can be tricky. It is even trickier if you need an exchange that accepts fiat currency. Here are some of the safest platforms to buy altcoins with fiats. We have sorted the list in a specific order – from the exchanges with a smaller number of altcoins to those with an abundance of cryptocurrencies on offer.
Number of coins listed – 5
Bitstamp is an extremely popular platform for buying altcoins. It is mostly targeted at the European audience, though it is also available in the US. You can use Bitstamp to purchase Ethereum, XRP, Litecoin, and a few more. It is preferable for those who want to trade with fiat currency, as the fee for this option is around 0.25% and much higher if you buy with a credit card (5%). The national currencies supported are USD and EUR.
Bitstamp is ideal for investors who need to make major altcoin purchases since the exchange has a sizable trading volume. The exchange was started and licensed as a payment institution in Luxembourg, though it has offices in London and New York just as well.
After one notable hacking incident, Bitstamp has turned thing around and managed to rebuild their reputation. The company has steadily improved their security measures over time and continues to make their platform better and safer.
Number of coins listed – 7
Coinbase is a California-based exchange that has secured its spot as a highly established and well-respected platform for buying and selling digital tokens. Coinbase is available in more than thirty countries but is particularly favored in the United States and the United Kingdom. Coinbase supports Litecoin, Ethereum, Bitcoin Cash, and more, which can be bought with USD, EUR, and GBP.
Coinbase is also one of the most regulated exchanges, which has its benefits and drawbacks. The good thing about it is a decent level of protection. To ensure their funds’ safety, Coinbase offers its users an offline storage for holdings and also provides the insurance for deposits. Although, the insurance doesn’t cover instances where passwords are stolen or hacked.
Number of coins listed – 9
CEX, or more often referred to as CEX.IO (as per the website https://cex.io/), is one of the exchanges that have been around for the longest. This exchange supports a selection of popular altcoins, including Zcash, Dash, and Stellar Lumens. CEX.IO has never had a security breach and has built up a strong reputation for keeping their customers protected.
CEX.IO has an excellent selection of crypto-fiat options to help customers and is one of the top picks for amateur investors who want to buy altcoins with national currency – namely, EUR, GBP, RUB, and USD. The platform is ideal for experts too, because it has high limits and a lot of trading tools, including margin trading.
However, the verification process is comprehensive here, as you have to prove your identity and residency. This is essential because CEX.IO is a registered Money Services Business and has the DSS certification, which forces it to comply with all the necessary industry standards. Few other exchanges have as many security credentials as CEX.IO.
Number of coins listed – 18
Kraken gives you access to an eclectic array of altcoins, including Dash, Cardano, XRP, Zcash, EOS, Melon, and a lot more. You can make deposits in euros, pounds, yen, as well as Canadian and US dollars. There is a variable fee for fiat deposits, which is free for SEPA transfers in EUR but differ for USD and CAD.
Kraken is intended for professional investors. If you are a newbie, don’t be surprised if the interface looks too complicated. For the added security, Kraken uses two-factor authentication powered by Google. Overall, the biggest advantage of Kraken is its versatility, as it supports more altcoins than many of its competitors. They also can boast of their fast withdrawal rates.
Number of coins listed – 27
Bitfinex is another option you have for buying altcoins securely. You can buy a lot of different digital assets on this platform, including Monero, Zcash, Ethereum, Litecoin, and XRP. Among fiats, the platform accepts US dollars, pounds, euros, and yen. However, keep in mind that the US customers are not allowed to use any features of Bitfinex, as it doesn’t support this area.
The platform has an intensive verification process. You need to provide your telephone details, multiple forms of identification, proof of residency, and a bank statement.
The fees range of 0-0.2% for trading cryptocurrency with fiat is pretty low but not the lowest on the market. Still, they have one of the largest selections of altcoins, so if you are looking to buy multiple altcoins in one convenient location, this is an excellent place to start.
As you can see, there is a range of exchanges to choose from. If you’ve decided to purchase particular altcoins, learn at what platforms they are available, compare prices, fees, and payment options. As you don’t want your funds to be stolen or your data to be compromised, be sure to check what security measures exchanges have. All of the above-mentioned websites would be a solid option.Wake up Right! Subscribe to our Morning Briefing and get the news delivered to your inbox before breakfast!