AltCoinTrader charges a flat 0.1% fee for limit orders and a 0.75% commission for market trades. With over 30 cryptocurrencies available for trading, the platform requires a minimum of 0.00001 in Bitcoin deposits and 100 ZAR in USD/USDT fundings.
AltCoinTrader Information + Regulation
Founded in 2015, AltCoinTrader is a South African cryptocurrency exchange. Key Facts:
- Legal Name: AltCoinTrader (Pty) Ltd.
- Headquarters: Johannesburg, South Africa
- Regulatory Status: Licensed Crypto Asset Service Provider and authorized Financial Service Provider (FSP# 53614)
AltCoinTrader Exchange Key Specifications
Here's a quick rundown of what you will face with the discussed company as a crypto exchange:
Exchange | AltCoinTrader |
Launch Date | 2015 |
Levels | Level 1-4 |
Trading Fees | Limit Order: 0.1%, Market Order: 0.75% |
Restricted Countries | UN-Sanctioned Countries |
Supported Coins | +30 |
Futures Trading | None |
Minimum Deposit | 0.00001 in BTC, 100 ZAR in USDT/USD |
Deposit Methods | Capitec Pay via Stich, Crypto |
Withdrawal Methods | Credit/Debit Cards, Bank Transfers, Crypto |
Maximum Leverage | 1x |
Minimum Trade Amount | N/A |
Security Factors | 2FA, SSL Certificate, Proof of Reserves, Cold Storage |
Services | Easy Save |
Customer Support Ways | Email, Ticket, Telephone |
Customer Support Hours | 9:00-16:30 on Weekdays |
Fiat Deposit | ZAR |
Affiliate Program | No |
Orders Execution | N/A |
Native Token | None |
Notable Benefits and Drawbacks
This exchange comes with its advantages and disadvantages, similar to its competitors. Let's weigh the good against the bad:
Benefits | Drawbacks |
Simple User Interface Without Any Complexities | Lack of Advanced Trading Features |
Fast Registration | Limited Selection of Tradable Digital Asests |
Proof of Reserves | No Live Chat Support |
User Levels + Comparison
AltCoinTrader has set 4 levels for verified users that differentiate in some factors. The table below compares them:
Level | Condition | Limitation |
Level 1 | None | Unlimited Trades and Deposits with Withdrawals Limited at R1,000 |
Level 2 | Verified FICA Documents | Level 1 + Withdrawals Limited at R200,000 in 24h |
Level 3 | Level 2 + 2FA Activated for over a month | Level 2 + Withdrawals Limited at R1,000,000 |
Level 4 | Verification with Support Team | No Limits |
Trading Fees and Other Commissions
When it comes to fees, AltCoinTrader offers a competitive structure, but it's not without its quirks:
Fee Type | Amount |
Limit Order | 0.1% of Trade Value |
Market Order | 0.75% of Trade Value |
Maximum Fee in Deposit | 0.5% (capped at R95.00) |
CASH or EFT Deposit | Determined By the Bank |
CASH Deposit Surcharge | An additional 5% for Fiat Deposits |
Crypto Withdrawal | Variable |
Crypto Deposit | None |
For the calculation of profits/losses after closing a trading position in the crypto market, you can use a crypto profit calculator.
Digital Assets Available for Trading
With only over 30 cryptocurrencies available, traders have a limited selection to choose from with AltCoinTrader. Here's a taste of what you can trade:
- Bitcoin [BTC]
- Avalanche [AVAX]
- Basic Attention Token [BAT]
- Bitcoin Gold [BTG]
- Tether [USDT]
- Cardano [ADA]
- USD Coin [USDC]
- Monero [XRP]
- And more
Futures and Margin Trading
For those looking to amp up their trading game with futures or margin trading, this is not a suitable option for you. AltCoinTrader currently does not offer these advanced trading options.
Signing Up and Verification on AltCoinTrader Exchange
You can easily and quickly create an account on the exchange. Here’s a guide:
- Visit the official website;
- Click on "Register" at the top;
- Create a username and a password;
- Type in your email and accept the T&C;
- Click on the link that was sent to your email.
Afterwards, your activation will be complete and you can login with your account. For verification, you will be required to complete your profile and provide FICA documents.
AltCoinTrader Trading Platform and Its Applications
ACT offers a proprietary trading platform that strikes a balance between functionality and user-friendliness. It is accessible through the website’s homepage and 2 applications on mobile. Download Links:
Safety Measures: Is ACT Secure for Your Assets?
AltCoinTrader does not provide much detail about security on its website. Safety Factors:
- Two-Factor Authentication (2FA): Extra layer of security for your account and data
- SSL Encryption: Ensures secure communication between your browser and the exchange
- Proof of Reserves: More than the exchange’s liabilities to its clients
- Cold Storage: Majority of assets held in offline and offsite storages
Deposit/Withdrawal Options in AltCoinTrader
The exchange caters primarily to the South African market, reflected in its payment options:
- Capitec Pay via Stitch: Instant deposits for Capitec bank account holders
- Bank Transfers: EFT payments from major South African banks
- Credit/Debit Cards: Limited support for card payments
- Cryptocurrency Deposits: Direct transfers of supported digital assets
Trust Ratings and Evaluation Scores
AltCoinTrader’s scores on Trustpilot and other sources reflect a mixed bag when it comes to user reviews:
- Trustpilot: 3.5/5 stars (based on 120+ reviews)
- io: 1.5/5 out of 80+ ratings
- ScamAdviser: 88/100 Trustscore, 1.7/5 user score based on more than 20 reviews)
AltCoinTrader Exchange Support
Regarding customer support, AltCoinTrader offers 2 contact options:
- Email: support@altcointrader.co.za
- Telephone: 011 568 2684
As mentioned on the website, the support team is available on weekdays from 09:00 to 16:30.
Copy Trading and Passive Earning Methods
ACT gives access to a “Easy Save” feature that operates similar to staking options found on some other exchanges, but with these benefits:
- No fees for holding assets
- No lock in period
- Rewards up to approx. 13% annual percentage rate (APR)
Which Countries Are Restricted by AltCoinTrader?
Based on the available data on official sources, the exchange does not accept clients from UN-sanctioned countries, which include:
- Iran
- North Korea
- Yemen
- Iraq
- Sudan
- Libya
- And more
Writer's Opinion and Conclusion
AltCoinTrader provides 4 payment methods [Capitec Pay, bank transfer, credit/debit cards, crypto] for making deposits and withdrawals.
The company has received a 3.5/5 score on “Trustpilot” with 120+ reviews. Also, “ScamAdviser” has given a 88/100 Trustscore to ACT.