Where to Buy Altcoins

The common question every investor asks is: Where is the smart money?

This thought is often translated to: Which digital asset will topple Bitcoin as the cryptocurrency market leader?

Let’s explore a relevant fact to answer this question. One of the top cryptocurrency predictions is — as more people discover altcoins and their real-world use cases, their uptake and value will increase.

This will most likely pique your interest if you are keen on crypto, but what are these gems?

This article will break that down for you and guide you on where to buy altcoins.

What Is an Altcoin?

When Bitcoin burst into the scene in 2009, the attention and coverage it got were so massive that it became a generic trademark for cryptocurrency.

With the headlines came significant investor interest, but there needed to be an equilibrium between supply and demand for it to work. Consequently, there can only be 21 million Bitcoins circulating in the market at any given time. This policy has ensured the coin’s competitiveness.

Since Bitcoin’s debut, hundreds of other cryptocurrencies have emerged. However, Bitcoin had become such a staple that a word referring to alternative cryptocurrencies had to be coined… Hence altcoins.

So, if Bitcoin is the dominant cryptocurrency, what purpose do altcoins serve?

The concept behind altcoins is the same as Bitcoin — to use blockchain as a bulletproof digital ledger distributed across a node of computer networks to ensure transactions remain legit.

Notwithstanding, various altcoins have sniffed opportunities and capitalized on Bitcoin’s weaknesses to improve their product. This strategy has helped select altcoins increase their market share and reduce the gap between themselves and the market leader.

Ethereum, for instance, sensed an opportunity beyond  Bitcoin’s blockchain ability to record financial transactions. The altcoin’s blockchain was improved and now records agreements known as smart contracts.

Smart contracts are programs installed in a blockchain that self-execute if predetermined conditions are met. They are designed to eliminate the need for middlemen like banks.

Litecoin, another peer-to-peer currency, cloned Bitcoin’s source code. Its developers polished it and created a product that had faster transaction speeds and larger storage capacity.

Altcoins: The Pros and Cons

According to CoinMarketCap, there were 18,000+ altcoins in the market as of March 2022. The cryptocurrency statistics reference site also showed the industry was worth $1.9 trillion. Just two years ago, the market value was around $225 billion.

This growth is partly attributable to innovation by developers whose products are designed to appeal to a specific target market. This specialization is a major factor in how people buy altcoins.

That said, what are the merits and demerits of using altcoins in crypto trading?


  • Improvement on Bitcoin: Altcoins sell themselves as better versions of Bitcoin. They attract investors by solving Bitcoin’s weaknesses.
  • Room for growth:  No altcoin has hit its ceiling yet. The top altcoins, in particular, have shown tremendous growth and show no signs of abating.
  • Recognition by major organizations: Some altcoins have been co-signed by big organizations. Ethereum, for instance, is accepted or used by Tesla, Google, Square Inc, and a host of hedge funds.
  • Specialization & variety: There are scores of altcoins in the market tailored to serve various target markets. Ripple, for instance, is built to make cross-border transactions easier.
  • Reduced costs: Mining altcoins is much easier compared to Bitcoin. Transacting and trading altcoins is also cheaper.


  • Lack of acceptance: Although some altcoins like Ethereum are slowly gaining traction, most cryptocurrencies are not recognized in the mainstream world. The popularity of Bitcoin further complicates this.
  • Low market value: Most altcoins have a low market value. The prospect of low returns does not excite investors, which relegates altcoins to spectator status.
  • Once bitten twice shy: “Dead Coins” is a crypto industry terminology used to refer to altcoins that first exhibited potential only to sink with millions of investor funds.
  • Regulatory lacuna: The lack of a regulator and a well-spelled out investment criteria means altcoins are less liquid and limited in scope. The decentralized nature of crypto designed to deny authorities control also scares investors off.

The Pros and Cons of Altcoin Trading

Having grasped the basics, understanding the upsides and downsides you are likely to experience when trading altcoins is essential.


  • Disruption: There are more than 18,000 altcoins to buy in the market. Some of them present brand new solutions. Some cryptos like Ethereum and XRP have the potential to change the game.
  • Diversification: A wide selection of altcoins allows investors to diversify their portfolios to reduce risks and increase returns.
  • Profit potential: Most altcoins have a low valuation which could be good news for bullish investors seeking to buy at a low price and cash in when the asset appreciates.
  • Fewer transfer fees: While Bitcoin struggles with scalability, the best altcoins are preferred because of enhanced network speed and throughput. This culminates in lower transfer fees and rapid processing times, which is a huge plus when depositing and withdrawing funds.


  • Limited liquidity: Cheap altcoins struggle with exposure, and as a result, they are less liquid.
  • High risk: While altcoins can be a good investment when they appreciate, they are volatile.
  • Pump and dump schemes: Pump and dump schemes occur when unscrupulous traders use misleading information to raise the price of a virtual currency, after which they sell it for a profit. Most altcoins are susceptible to such ploys.

What Altcoin to Buy

The year 2021 was an interesting one in the cryptocurrency space. The industry’s total market capitalization grew by 187.5%. However, the most interesting trend was the emergence of various altcoins.

Terra grew 12,000%, while Solana surged 11,000%.

With technological advancement, 2022 is also likely to be huge as various altcoins continue to realize their potential while others emerge.

Below, we look at some of the altcoins that are already performing well and likely to finish the year strongly.

The best altcoins to own include:

  • Ethereum
  • Litecoin
  • Dogecoin
  • Ripple
  • Stellar Lumens
  • Bitcoin Cash

Ethereum (ETH)

Ethereum is the second most traded cryptocurrency globally and one of the most innovative crypto solutions.

Many people consider the token to have a higher price ceiling than Bitcoin and one of the best altcoins to buy.

Factor this: Ethereum’s price increased by 10,3796% from $2.48 on January 1, 2016, to $2,576.63 on March 9, 2022.

Besides the exponential growth, there are several other reasons why Ethereum is being tipped to dethrone Bitcoin.

First is that Ethereum was the first platform to roll out the smart contracts feature.

Developers also fancy Ethereum because it provides a platform to build projects and initiate automatic transactions using smart contracts.

However, the altcoin is likely to accelerate even further when Ethereum 2.0 goes live.

Ethereum 2.0 is an upgrade to Ethereum on several levels. The rationale behind this is to firm up the platform’s capacity for transactions. Once the upgrade is completed, transfer fees will be cheaper and the network more sustainable.

We tip Ethereum to be one of the best altcoins heading into the future.

You may also be interested in: Ethereum vs Ethereum Classic

Litecoin (LTC)

Litecoin was created by former Google employee Charlie Lee who conceptualized it to play second fiddle to Bitcoin. It’s favored by traders primarily because of its processing speed since it is much faster than Bitcoin.

Another factor working in Litecoin’s favor is the endorsement by crypto-focused venture capitalists. In 2020, Dan Gambardello, the Founder of Crypto Capital Venture, projected Litecoin will eventually soar to $1,000+.

That’s good, but how has it been performing?

The altcoin recorded tremendous growth between 2013 and 2022. On April 1, 2013, the coin traded at $4.18 and exchanged hands at $107.39 on March 9, 2022, representing a 2,469.14% uptick.

The token received a significant boost when cinema chain AMC announced it would accept LTC as payment for its services in November 2021.

We believe Litecoin will be a strong performer in the altcoin market and is worthy of a spot in this ranking.

Dogecoin (DOGE)

If you’re a crypto stan, chances are you are probably familiar with Dogecoin.

Creators Billy Markus and Jackson Palmer initially started Dogecoin as a joke in 2013 before the token became a phenomenon. The altcoin borrows its branding from the Japenese Shiba Inu, which inspired the original “doge” meme.

The dog-themed cryptocurrency enjoys backing from the world’s wealthiest man and a host of other celebrities. In August 2021, Elon Musk backed Mark Cuban’s — another billionaire —claim that Dogecoin is the strongest cryptocurrency as a medium of exchange.

Musk, a renowned crypto enthusiast, would continue to voice his support for the “doge” after cutting off Bitcoin from Tesla over environmental concerns.

Dogecoin jumped 18% to above $0.20 in January 2022 after Musk confirmed the automaker would accept the digital currency as payment for some of its merchandise.

Is there more to Dogecoin, or is it just basking in Musk’s hype?

Evidence shows that the altcoin’s best moments are associated with the Tesla founder. The coin’s best all-time high was achieved on May 8, 2021, when it traded at $0.731. The spike was triggered by a tweet from Musk stating Tesla would be accepting Dogecoin on a test basis. The tweet sent the meme coin up 23%.

Since its 2021 high, DOGE hasn’t reached the same levels. Despite this, the altcoin still had a market capitalization of $16.2 billion on March 9, 2022.

Dogecoin is one of the best altcoins to buy or at least one to keep an eye on. Musk’s backing is no guarantee of success, but past evidence shows it can yield a rainy day.

Ripple (XRP)

Ripple is an international digital transaction network designed to smoothen transactions between banks and other financial organizations.

It’s built to be a faster, convenient, and more affordable alternative to SWIFT (Society for Worldwide Interbank Financial Communications) ⁠— a system for money transfers.

Ripple has its native cryptocurrency known as XRP, developed by Ripple Labs to be explicitly used on the Ripple network alongside the XRP Ledger Blockchain.

XRP is famous for quick transactions, which take approximately five seconds to complete. The altcoin deploys a consensus protocol to verify transactions to flawless effect. Only transactions marked as legitimate by a majority of validators are included in the ledger.

As of March 9, 2022, XRP traded at $0.765.

Ripple is arguably the best altcoin to buy. Demand will only increase as the world moves towards fast transactions.

Stellar (XLM)

Stellar is a distributed payments system operated via Stellar Lumens (XLM), the network’s native crypto. The system facilitates cross-border transactions at low fees regardless of the currency.

This is a game-changer because it improves traditional banking significantly, making Stellar one of the most promising tokens in the altcoin market.

That said, how has XLM been performing?

Between February 24, 2022, and March 9, 2022, the altcoin grew from $0.17 to $0.18.

The year 2021 was even greater for XLM when the coin peaked at $0.73 on May 12 after opening the year at $0.12.

Keep an eye on Stellar. It’s one of the best coins to invest in.

Bitcoin Cash (BCH)

Bitcoin Cash is a product of dissent. A breakaway Bitcoin faction created the altcoin following disagreements over the future direction of the most popular cryptocurrency on the planet.

Fast forward, Bitcoin Cash has caught the eyes of investors for offering something unique.

The altcoin is high-leverage crypto that gives investors increased buying power by making spot transactions using borrowed funds.

The token also facilitates larger block sizes, allowing faster transactions per second at lower fees. This is a welcome improvement from Bitcoin, which struggles with congestion.

If you’re scouring the market for high returns potential, Bitcoin Cash is certainly worth a shout.

Where to Buy Altcoins

The easiest and safest way to buy altcoins is through legitimate exchanges equipped with tools to facilitate seamless exchange and conversion.

You can buy altcoins with debit cards or a host of other supported payment options depending on the cryptocurrency trading platform.

Some of the best crypto exchanges in the market currently are:

  • Uphold
  • Coinbase
  • Gemini
  • Kraken
  • Binance
  • Coinmama


Founded in 2015, Uphold is a multi-asset trading platform based in New York. Besides cryptocurrency, the platform lets you trade precious metals, stocks, and national currencies.

US users have access to 200+ cryptocurrencies, including majors, altcoins and stablecoins. Some of them include:

  • Aave
  • Ethereum
  • XRP
  • Basic Attention Token (BAT)
  • Cardano
  • Algorand

Notably, the platform is popular for its cross-asset trading feature, which lets you trade any asset in one step. For instance, if you want to exchange Bitcoin for gold, you wouldn’t need to convert your Bitcoin into cash to complete the transaction.

Uphold also lets you set up up to 50 orders without fronting any money.

Pricing/ Fees

Uphold charges 0% trading fees, 0% deposit, and 0% withdrawal fees.
However, the platform charges a spread typically in the range of 0.8% to 1.2% for all altcoins.

Pros and Cons

What are some of the reasons that make users appreciate or fault Uphold? We take a look at that below.


  • No trading, deposit, or withdrawal fees
  • Cross-asset trading
  • Wide cryptocurrency selection
  • Staking rewards
  • Uphold debit card


  • Varying spread fees
  • Equity trading is not available for US and European users


Uphold is a cryptocurrency exchange registered with FinCEN. The platform allows you to trade and earn rewards for staking your altcoins. Trusted by over four million users, the app enables you to swap your coins for other assets in one step. They also offer scheduling tools to protect against volatility.

  • 200+ cryptocurrencies (90+ available in the UK and EU)
  • No withdrawal fees
  • Cross-asset trading

Uphold is a cryptocurrency exchange registered with FinCEN. The platform allows you to trade and earn rewards for staking your altcoins. Trusted by over four million users, the app enables you to swap your coins for other assets in one step. They also offer scheduling tools to protect against volatility.


Coinbase supports more than 150 altcoins. The platform facilitates the exchange of the most popular cryptocurrencies, including;

  • Ethereum
  • Litecoin
  • Dogecoin
  • Stellar
  • Bitcoin Cash

Different altcoins come with varying trading restrictions. Some can only be converted into specific fiat currencies or other cryptocurrencies. Some countries and states also restrict trading select altcoins.

However, the good news is that Coinbase details the limitations of each cryptocurrency on its website.

Coinbase fees

One of the most significant demerits of using Coinbase is its high crypto fees.

For instance, when seeking to convert your Litecoin to USD, you will be charged a Coinbase fee and a spread.

A spread is defined as the difference between the prevailing market price and the price you purchase or sell the crypto.

Coinbase pegs its spread at 0.50% of your trades, though the rate can be revised based on market conditions.

For conversions such as Ethereum to Bitcoin, Coinbase charges a 2% spread subject to the market’s state. The altcoin exchange does not charge crypto-to-crypto conversions.

The Coinbase fee also varies depending on location, payment mode, and other factors. It could be a flat fee or a percentage of the transaction.

Below is a breakdown of Coinbase percentage and flat fee rates.


Payment Mode Fee
US Bank Account 1.49%
Coinbase Wallet (USD) 1.49%
Debit Cards & Paypal 3.99%
Instant Card Withdrawal Up to 1.5% with $0.55 as the minimum

Flat fees

Transaction Amount Fee
$10 or less $0.99
More than $10 but less than equal to $25 $1.49
More than $25 but less than equal to $50 $1.99
More than $50 but less than equal to $200 $2.99

Other fees

Coinbase also charges a fee for certain types of deposits into Coinbase altcoin wallets. This is significant because traders prefer to have funds in their wallets on standby in case opportunities arise.

The fees are broken down below:

Deposit Mode Free
PayPal 2.5%
Wire Transfer $10 and $25 for outgoings
Bank account transfer Free
Payment methods

Coinbase accepts several payment methods, namely:

  • Bank accounts
  • Instant cashouts to bank accounts
  • Debit cards
  • Wire transfers
  • PayPal
  • Apple Pay
  • Google Pay
Pros and Cons

Using Coinbase has its advantages and disadvantages, which we break down below.


  • Supports a wide range of cryptocurrencies
  • Offers Coinbase debit card
  • Modern altcoin trading platform
  • Highly rated mobile app
  • Low minimum to fund account
  • Crypto is insured in case the website is hacked


  • Higher fees than other digital exchanges
  • Complicated fee structure


Gemini was launched in 2015 and is designed to appeal to various demographics, including new and experienced traders.

It supports more than 70 altcoins. Some of the altcoins that change hands on Gemini include:

  • Ethereum
  • Dogecoin
  • Litecoin
  • Filecoin
  • Shiba Inu
  • Tezos

The withdrawal fees for the different altcoins available on Gemini vary. Another thing to write home about Gemini is that withdrawal fees don’t kick in until you take out your funds more than ten times in one month.

Gemini is also flexible with its minimum trading amounts. The exchange defines its minimum for any coin as the smallest amount of the currency that can be traded.

For instance, the minimum amount of Ethereum you can trade on Gemini is 0.01 ETH.

Gemini fees

Gemini charges its traders different sets of fees, namely:

  • Convenience fees
  • Transaction fees
  • Withdrawal fees

Note that you will be charged both a transaction and convenience fee every time you trade altcoins via the exchange.

Convenience fees

Gemini charges a 0.5% convenience fee of the prevailing Gemini market price for all trades, although the rate may vary depending on market conditions.

Transaction fees

Besides the convenience fee, Gemini also charges a transaction fee depending on your trade volumes. The standard transaction fee for converting cryptos such as Bitcoin for Litecoin is 1.49%.

The transaction fee for trading altcoins varies depending on the currency. It ranges between a flat fee for small transactions and a percentage for large transactions.

The table below outlines Gemini transaction fees.

Transaction Amount Fee
Less than $10 $0.99
Between $10 and $25 $1.49
Between $25 and $50 $1.99
Between $50 and $200 $2.99
More than $200 1.45

Deposit fees

Traders need to deposit or move altcoins from their wallets to other exchanges to transact on Gemini.

One of the pluses of using Gemini is that the exchange doesn’t charge transaction fees for deposits except when they are made via debit cards.

Gemini’s deposit fees are outlined below.

Deposit type Fee
Debit Card Transfer 3.49% of the total purchase amount
Wire Transfer Free although the bank may charge a fee
All cryptos, bank account transfers, Gemini dollar redemption Free

Withdrawal fees

Gemini does not charge withdrawal fees as long as transactions don’t exceed 10 per month. Any more withdrawals attract a fee.

Pros and Cons

All altcoin exchanges have their advantages and disadvantages. What are Gemini’s?


  • Supports more than 70 cryptocurrencies
  • Available in all US states
  • Holdings are insured from thefts and hacks
  • Low minimum purchases


Higher fees than some platforms
It doesn’t support some popular cryptocurrencies
The fee structure is prohibitive for small trades


Kraken is a San Francisco-based crypto exchange founded in 2011. It’s eligible in many countries worldwide, including the United States.

The main Kraken platform is simplified to suit new traders, while Kraken Pro is specifically designed for expert traders.

Kraken is known for its competitive pricing structure. The exchange is also favored because it supports more than 100 cryptocurrencies.

Some of the altcoins available on the exchange include:

  • Dogecoin
  • Ripple
  • Bitcoin Cash
  • Litecoin
  • Ethereum
  • Stellar Lumens
Kraken fees

Kraken’s pricing and fees depend on the platform of choice and the trade. Either way, prices are subject to spread fees.

Below we break down the different fees that Kraken users incur.


Kraken charges 1.5% for most altcoins and 0.9% for stablecoins using dollars or another stablecoin for instant purchases.

Additional charges depend on how you fund a purchase. Prices range between 0.5% for transactions completed using bank accounts to over 3.75% for transactions completed using digital wallets and debit & credit cards.

Kraken Pro

One of the advantages of using Kraken Pro is it charges fewer fees than the main platform.

Conversely, fees are determined by total cryptocurrency trading volumes over 30 days.

The majority of the trades on Kraken Pro are subject to a 0.26% taker or 0.16% maker fee.

Both fees vary depending on trading volume.

30 Day Volumes Maker Taker
$0-$50,000 0.16% 0.26%
$50,001-$100,000 0.14% 0.24%
$100,001-$250,000 0.12% 0.22%
$250,001-$500,000 0.10% 0.20%
$500,001-$1,000,000 0.8% 0.18%
$1,000,001-$2,500,000 0.6% 0.16%
$2,500,001-$5,000,000 0.4% 0.14%
$5,000,001-$10,000,000 0.2% 0.12%
$10,000,000+ 0.0% 0.10%
Pros and Cons

What are the advantages and disadvantages of using Kraken to trade altcoins?


  • Security
  • Wide range of cryptocurrencies
  • High liquidity
  • Low fees for savvy traders


  • Limited account funding options
  • Not available in all US states
  • Limited starter account


Binance is the world’s most popular coin market exchange that cemented its place as the market leader by charging low fees.

The exchange has a CoinGecko trust score of 10 — the highest rating the crypto data aggregator awards. It is also the world’s most liquid exchange. In 2021, $7.7 billion worth of cryptocurrency exchanged hands on the platform.

It is also the crypto exchange with the most coins. Binance supports 300+ tokens globally and 65+ in the United States.

Some of the altcoins available on the platform are:

  • Ethereum
  • Ripple
  • Litecoin
  • Dogecoin
  • Bitcoin Cash
  • Stellar Lumens
Trading fees

Binance offers the lowest altcoin trading fees in the industry. The exchange subscribes to the maker/taker fee structure, which means traders pay less the more volumes they move.

Traders can also get a discount for:

  • Reaching VIP status
  • Referral bonuses
  • Using Binance Coins in trades

Other fees Binance charges include:

Payment Mode Fees
Wallet N/A
Debit cards 4.5%
Bank account transfer Free
Wire transfer $15 for US citizens
Crypto conversion N/A
Trades 0.00% to 0.1%
Buy/Sell crypto 0.50%
Pros and Cons

So what would make you choose Binance over other top altcoin exchanges?


Low Trading Fees
High Liquidity
Good Reputation
Supports a Wide Range of Cryptocurrencies


Not available in five US States as of March 2022 (New York, Hawaii, Idaho, Texas, and Vermont)
History of run-ins with regulators. Lack of availability in several jurisdictions is also due to regulatory issues.
Binance US offers limited crypto-crypto pair choices than the global version


Unlike the other altcoins exchanges featured in this piece, Coinmama is a much smaller platform.

Besides offering a limited number of altcoins, the platform doesn’t facilitate crypto-to-crypto exchange. It also charges very high fees for buying altcoins.

Coinmama is cut out for beginner traders, hence it is effortless to use. This is not the platform for expert traders who would be served best by other platforms.

One thing going for Coinmama is that it is eligible in most countries and is available in all US states except Hawaii and New York (as of March 9, 2022).

The altcoins supported by Coinmama include:

  • Bitcoin
  • Bitcoin cash
  • Litecoin
  • Dogecoin
  • Tezos
  • Ripple
  • Chainlink
  • Uniswap
  • Cardano

Coinmama charges traders when they buy and sell altcoins. The exchange also charges a fee for every transaction. Additional costs depend on the mode of payment used.

What’s more, Coinmama employs TradeBlock XBK, a popular Bitcoin index, to determine its fees.

Below is a breakdown of Coinmama fees:

Payment Method Coinmama Fee
Bank Account 2% + up to 3.90%
Wire Transfer 2% + up to 3.90%
Purchases 2% + up to 3.90%
Google & Apple Pay 2% + up to 3.90% +5%
ACH Transfer 2% + up to 3.90%
USD Wallet 2% + up to 3.90%
Debit/ Credit Card 2% + up to 3.90% +5%
Crypto Conversion N/A
Bitcoin Sales 2% + up to 3.90%
Pros and Cons

What are the merits and demerits of using Coinmama to exchange altcoins?


  • Safety features
  • User-friendly platform
  • Supports multiple currencies & payment methods
  • High spending limits
  • Customer-friendly


  • No wallet
  • High fees
  • It offers a narrow range of cryptocurrencies

Where to Store Altcoins

On January 20, 2022, Crypto.com, one of the world’s most popular exchanges, confirmed that it had been hacked and over $30-million worth of Bitcoin and Ethereum had been stolen. Although all affected accounts were reimbursed, the development reminded everyone that hacks remain the most significant threat the crypto industry faces.

Reading the markets and trading digital currency is one thing. The hard part is protecting your assets from getting stolen.

However, there is no need to sweat because you can secure your holdings by storing them safely. This piece will break down how to protect your funds and choose the right altcoins wallet.

What is a crypto wallet?

A crypto wallet is a software program that allows you to store and transfer altcoins.

There are two main categories of crypto wallets:

  • Hot wallets
  • Cold wallets
Hot wallets

A hot wallet is always connected to the internet and the cryptocurrency network. It facilitates transactions between an account holder and the end-user.

Hot wallets are easy to set up and use, but they are also more prone to hacks and theft.

There are several types of hot wallets. These are:

  • Software wallets: A software wallet is a computer program, web service, or application that allows holders to send and receive crypto. They hold the private key(s) corresponding to their Blockchain location.
    Managing funds with software altcoins wallets is straightforward. Software wallets also let you access your holdings via multiple devices.
    However, they are susceptible to viruses and hacks.
  • Cloud wallets: Online wallets store your private key(s) online. They also allow you to access your holdings using any device from any location.
    The most significant disadvantage of using cloud wallets is that third parties can access them. Consequently, they are prone to hacks and theft.
    Examples of cloud wallets include Bitwala, LocalCryptos, and Crypto.com DeFi wallet.
  • Mobile wallets: A mobile wallet is the digital version of your back pocket wallet which allows you to send or receive funds.
    Examples of mobile wallets in the US include CashApp, Google Wallet, and Android Pay.
  • Exchanges: These are trading platforms like Binance, Litecoin, and Ripple, which store your assets.
Cold wallets

Cold wallets are considered safer for storing altcoins because they are not connected to the internet and allow you to store your funds offline. In this state, funds can still trickle in, but no one can transfer them out.

Types of cold wallets include:

  • Paper wallets: A paper wallet is a printout of your public and private keys. Some paper wallets have a scannable barcode generated by an app. It’s one of the ways devised to store cryptocurrency offline while allowing holders secure access to their funds.
  • Hardware wallets: A hardware wallet is a plug-in device that acts as a portable key to access your crypto holdings securely from anywhere. It’s secure because only the holder has access to it.

How to Cash Out Altcoins

Suppose you need to convert your altcoins to USD or any other fiat currency? What is the procedure? We break down the process below.

The most convenient way of converting your altcoins is by using an exchange that supports fiat conversions.

Only a few altcoins are readily convertible to fiat currencies meaning that a secondary converter is required. Only a few exchanges support the conversion of altcoins to fiat currencies despite it being effortless to buy crypto with fiat.

Navigating through all these processes can be tricky. Below is a step-to-step guide to cash out your altcoins and deposit them into a bank account.

Step 1.    Choose a fiat-friendly exchange

Where to buy altcoins if you seek an easy cash-out option?

The two most important factors to consider are:

  • Transaction fees
  • Coin-fiat pairings supported

Make sure you pick a platform that supports your preferred fiat currency pairing. USD, EUR, and GBP are the most accessible fiat currencies.

In this regard, the most popular exchanges for cashing out include Coinbase, Gemini, and Kraken.

Step 2: Pick a pairing with your preferred fiat currency

Once you settle on an alt currency exchange, the next step is to open the market to establish the altcoins that can be converted to fiat.

Step 3: Choose a coin to convert with

From there, you will need to choose the token that will cost you the least to cash out your altcoins.

For instance, Ethereum is the most preferred altcoin to convert with because of the low fees associated with each network transaction.

The idea is to cut network and coin exchange fees as much as possible to make sure you don’t spend where you don’t need to.

Step 4: Exchanging your altcoins

Identifying the most cost-effective pairing opens the window for you to exchange your altcoins for the cryptocurrency in your pairing.

For instance, if you want to cash out 1,000 Stellar, you will first have to sell it for Bitcoin or Ethereum. This will be facilitated by the market holding your altcoins.

Step 5. Transferring to the fiat exchange

Once you open an account with a preferred fiat-friendly exchange, locate the provided public key.

The public key will help you send the converted coins from your previous exchange to the fiat exchange.

Step 6. Sell & cash out

Scrolling through the fiat exchange, choose the pairing that has your altcoin and preferred fiat currency.

Once the market green lights purchase of the altcoins, the funds will reflect in your fiat exchange account. You will then need to withdraw the electronic money into your linked financial account.

Final Thoughts

In Cryptoland, the smart money lies in scouting altcoins with high growth potential.

Hopefully, this article leaves you in good stead to determine which altcoins are likely to record a significant jump in the future.

But investing in altcoins is always a risk. That’s where professionals come in — they guide you on how to buy altcoins and help you devise a solid altcoin buying strategy.

However, the smart investor always has the right information at their fingertips.


Where can I buy altcoins?

You can buy altcoins from coin market exchanges. You can also sell, swap and convert your altcoins on these platforms.

Note that not all exchanges offer a wide cryptocurrency selection.  Identifying the best places to buy altcoins should be your first step.

The best exchanges for buying altcoins include:

  • Coinbase: Best US platform to buy altcoins
  • Gemini: Best for mobile users
  • Binance: Best for altcoin variety
  • Kraken: Best for navigation
  • Coinmama: Best for beginners
How to buy altcoins with USD?

Most altcoins can’t be bought with US dollars.

This means you will have to buy Bitcoin or a superior altcoin like Ethereum and swap them for your preferred altcoin.

Most exchanges support direct debit card purchases of Bitcoin and Ethereum.

How do I buy altcoins not on exchanges?

The best way to buy altcoins not on exchanges include:

  1. Buying altcoins with mainstream brokerages like SoFi and Robinhood
  2. Buying altcoins with PSPs like PayPal.
Which altcoins should I buy?

Different altcoins have different market capitalizations and potential. For instance, Ethereum, which had a market cap of $310 billion on March 11, 2022, is the altcoin with the best market potential.

Essentially, it depends on your financial goals, where you want to buy altcoins, and how much risk you are willing to stomach. Analysts, however, advise you to go for established altcoins.

Check the CoinGecko website for altcoins with the best trust score.


I’m a Kenyan journalist and professional writer. I move words around creatively enough to make you reread a piece. In my home office, you will find a quill and a bottle of ink. That’s how seriously I take this craft. Indulge me.

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