Great, you got your Bitcoins but think the next big thing in cryptocurrency is something else.
I think these three exchanges will have you all covered for altcoin trading.
| - | Coin Selection | Volume | Reputation | New Listings |
|---|---|---|---|---|
| Yobit | High | Low | Terrible | Sometimes |
| C-Cex | High | Low | Bad | Often |
| Poloniex | Low | High | Good | Slow and picky |
Why Did You Pick These Exchanges? Why Isn't My Favorite Exchange Listed as Essential?? REEEE
I think every serious altcoin trader has an account on each of the three exchanges. Their mix of advantages and disadvantages gives you a balanced exposure to nearly the entire whole altcoin ecosystem.
Yobit : Yobit runs pretty smoothly, has good volume and adds altcoins early-- in fact its been notorious for trading IOUs/ pseudo futures for coins before they even launch. Its in the same volume tier as C-Cex but has blatant ponzi schemes (ROM, the "rise only" market that severely restricts your ability to sell) and obviously rigged gambling games (YoPony is actually a pretty clever idea -- for them, not you). Yobit is where most small call altcoin pump and dumps take place.
C-Cex : A reliable exchange that is usually among the first to host ICOs and new small cap altcoins. One of the few altcoin exchanges with a BTC/USD market offering USD deposits/withdrawals.
Poloniex : By far the most trusted and highest volume crypto-only (every pair trades against BTC) exchange. Offers leveraged (up to 2.5x) margin trading, low KYC requirements, and P2P lending. This is where you will do almost all your large cap altcoin trades. Smooth on phone browser.
Optional Exchanges
Bittrex : Used to be the top altcoin exchange until it got overthrown by Poloniex in 2015. Has the strictest KYC requirements of all altcoin exchanges. It still dominates the market for a sliver of medium cap coins that Poloniex doesn't want, occasionally has good bargains or ICOs. Really clunky on phone browser. It kinda fills a somewhat unnecessary market niche between the high volume, big cap, trustworthy Poloniex and the high variety, small cap, volatility offered between C-Cex and Yobit.
Cryptopia: New kid on the block that was unknown until it became the the birthplace of the Pascalcoin Pump. Has an exchange, a market place, and a forum built in. Very promising project to keep an eye on, but volume is simply too low to trade there at the moment.