Whats the best exchange for Alt coins in the UK (with GBP)?

[tulipz]

Hi all,
       I'd like to invest in alt coins. Can any one help me choose an exchange and a wallet please?

My understanding is, I deposit GBP into an exchange account, buy whatever I want and then move it to a wallet to store it there. Please can someone confirm if this is right ?

I plan to start trading with a small amount of money.

Thanks!

[OmegaStarScream]

The poloniex exchange is the best IMO. You can't do this though (usually), you should first buy bitcoins and trade your BTC for altcoins. The wallet depends on the altcoin of course so I can't give you anything specific since you didn't mention which Alt you are planning to invest in but yes, I confirm that your method is correct.

[tulipz]

Thank you.

Do I incur commission etc when I buy bitcoin and then again when I trade it to buy alt currency?

Is there a limit to the amount I can buy in a single transaction or day?

[FlamingFingers]

Hi all,
       I'd like to invest in alt coins. Can any one help me choose an exchange and a wallet please?

There are quit a lot of exchanges that deal with GBP including but not limited to:
- Kraken: https://www.kraken.com/
- CoinsBank: https://coinsbank.com/
- Coinfloor: https://coinfloor.co.uk/
Also there is a relatively new exchange site for GBP pairs only, it's called CryptoMate, link: https://cryptomate.co.uk/ (though I don't know if it's legit or not).
Wallets depend on alternative coins – there isn't a specific wallet for all altcoins.

My understanding is, I deposit GBP into an exchange account, buy whatever I want and then move it to a wallet to store it there. Please can someone confirm if this is right ?

Yes, that's right, especially in long-term investments.

I plan to start trading with a small amount of money.

Always a good idea.

Thank you.

Do I incur commission etc when I buy bitcoin and then again when I trade it to buy alt currency?

Is there a limit to the amount I can buy in a single transaction or day?

Yes, you incur commissions on any trade. There are limitations, if your account is not verified. Some exchanges don't even allow you to trade without verification. Once it is verified, you will be free to trade with any amount of money.

[tulipz]

Thanks FlamingFingers

Did you use any of those exchanges?

I am now beginning to think its better to buy a bitcoin and use that to trade on Poloniex.

[FlamingFingers]

Thanks FlamingFingers

Did you use any of those exchanges?

I am now beginning to think its better to buy a bitcoin and use that to trade on Poloniex.

Yeah, I used Kraken for a bit, but it's not beginner-friendly (though it's a huge exchange considering its trading volumes).

Well, do whatever you see fits you the most. But indeed – buying Bitcoin and using it to trade is always the easiest thing to do.

[lizardbtc]

Can any one help me choose an exchange and a wallet please?

I'd like to suggest you the coinomi wallet, they are an android wallet tho (hopefully you have android phone) : they are multi-coin wallet that let you in charge of your private keys, your private keys never leave your mobile device. You backup your coins simply by writing down your wallet seed/paraphrase that you have been given 1st time when you open the wallet. From this seed the wallet generates private keys and addresses. They are also HD wallet if you like a bit of privacy.

Other solution would be jaxx.io wallet (they are multi-coin , multi-platform) they have lower amount of alts that you could keep but they are also a popular wallet.


It all comes down to which currency you really want to keep, if you want a wallet for desktop only you should check exodus.io

These wallets came to my mind first , if you are looking for multi-currency one, most of my time I use coinomi and jaxx, but it all depends on your tastes.