Altcoin Exchanges: A Brief Guide on Where to Trade Cryptocurrencies

For a long time there were only a few places to trade cryptocurrency and most of them only traded USD and Bitcoin. However, since the recent rises in popularity of cryptos more and more people have been releasing more and more coins, and more and more places to trade these coins have popped up. Bitcoin has made me a lot of money, and I believe it had the potential to continue to change the global economy. However, I also recognize that there is room for many other cryptocurrencies, and I welcome coins with a strong development team, strong marketing, and technological innovation. With so many coins being released it can be hard to keep up with what coins offer long term potential and what coins are going nowhere. I caution all of my readers to properly research a coin before making any long term investments. Additionally,  Bitcoin and other crypto currencies are still a new technology with any kind of trading software being even more new. There is not currently a good industry wide standard of practice when it comes to maintaining and securing an exchange. As a result many exchanges have been known to lag, have inaccurate price charts, go down suddenly, not fulfill a trade, get  "hacked" resulting in many people having their coins stolen, or just being an outright scam. You can of course mitigate your risk by following a few simple Cryptocurrency trading and investing tips: A) research an exchange before sending your fiat, BTC, or whatever to, B) never invest more than you can afford to loose, C) always use two factor authentication if possible, and D) never leave BTC, fiat, or any crypto on an exchange for longer than you have to. 

With all of that said here are some of the major Altcoin exchanges:

1. Cryptsy - Is one of the largest and most well known cryptocurrency trading sites. Recently they have upgraded and the site runs faster, and their support staff are efficient and courteous. Currently the Cryptsy site says they will have USD markets available May 13th 2014 for verified accounts. If you appreciate this blog please add my Cryptsy Trade Key 5f9aa84e9c6ef56c7f58e0017f72870c229e145d in your "I was referred by" section of your Cryptsy Dashboard. 

2.  BTCe - This is a major BTC exchange, and was one of the first exchanges to offer altcoins. Home of the original "troll box."

3. Mintpal - A somewhat newer site that is very popular at present and has a lot of trade volume. They continuously add new coins, and usually quickly add the new trendy coin provided it has enough volume. Popular with day traders and pump-n-dumpers. Has BTC and LTC markets.

4. CoinMkt - One of the few sites that lets you trade BTC and some Altcoins for USD. Secure and legit, but low volume. Currently you can trade the following coins: BTC, LTC, DOGE, PPC, NMC, FTC, XPM, MEC, WDC, QRK.

5. Poloniex - Has a large variety of coins to trade against BTC and LTC. I personally think they have the most informative and helpful charts of any exchange. They quickly add new coins to the markets and have great opportunities to buy coins cheap before they become popular.  The Cryptos that have enough volume are usually later added to more popular sites like Cryptsy or Mintpal. Poloniex also has a giveaway page and frequently have large giveaways of new coins!

6. Bitfinex - Great site where you can exchange, trade, and lend/borrow BTC, LTC and USD. The lending feture is nice if you want to earn interest on your funds. You can leverage your trade up to 2.5. This is one of my primary sites for BTC and LTC trading. Use my referral code  for a 10% discount for your first month! Code: cgSJGkGHV

7.  Bter - Is an exchange somewhat geared towards Chinese crypto-traders. Trade many coins against BTC, LTC, and CNY.  With all of the drama between the Chinese government and cryptocurrencies, Bter can sometimes offer highly profitable arbitrage opportunities. Volume can vary.

8. MCXNOW- This exchange has a complicated history. It was one of the first Crypto exchanges to offer and trade "fee shares" and let members earn interest on their deposits. Since all of the drama of this thread, the exchange was shut down and later reopened. Some people will never use it again, some people love it.

I hope this page has been helpful. I will continue to update it with more Altcoin exchanges as I get the time.