Cryptocurrency exchanges (also known as “crypto exchanges”) are commonly used to trade digital assets like cryptocurrencies. These privately owned platforms trade cryptocurrencies for other crypto assets, such as NFTs, digital currencies, and fiat currencies.
If you’re interested in adding crypto to your portfolio and don’t mind taking some additional risks, consider investing in a regulated and reliable crypto exchange.
This TRU insight explores a well-known crypto exchange South Africa has in store for traders: the AltCoinTrader app.
At the end of this AltCoinTrader review, you’ll know what it is and decide whether you’ll invest in its platform.
An Overview of AltCoinTrader
AltCoinTrader is the second-oldest cryptocurrency exchange in South Africa. Located in Roodepoort, this unfunded company operates as a cryptocurrency trading platform with an intuitive interface.
However, the exchange is very basic and lacks many advanced trading tools. For this reason, more adept traders still prefer to trade on exchanges like FTX and Binance.
Its platform operates a mobile AltCoinTrader app and website that lists coins, such as:
- Ethereum
- Bitcoin
- Ripple
- Monero
- Tether
- Precious Metals (i.e., Gold and Silver)
As one of the largest cryptocurrency exchanges, AltCoinTrader comprises dedicated professionals who share a common interest in the cryptocurrency industry.
According to these individuals, cryptocurrency is a life-changing technology, rather than a passing fad. Their vision includes making cryptocurrency a means to help people who want to enter the altcoin space.
The company’s top competitors include Coinbase, KuCoin, and Bitso. Compared to another strong competitor, Luno, the AltCoinTrader app also lacks strong liquidity.
Read more about Luno here: Luno South Africa Review in 2025 – TradersUnited
Trading Specifics
Before you decide whether to trade in the AltCoinTrader app, it’s important to know the following trading features.
The AltCoinTrader app does not offer investment solutions or referral programs. With a basic version of a trading platform and an AltCoinTrader app for Huawei, its exchange services pair the ZAR with the most popular cryptocurrencies and coins.
Below is a basic information sheet on AltCoinTrader’s features:
| Trading Platform | TradingView Basic |
| Trading Currency | ZAR, Cryptocurrencies |
| Accounts | Standard |
| Deposit/Withdrawal | Electronic and Crypto Wallets, Bank Accounts |
| Instruments | Fiat, 24 Supported Coins |
| Margin Call / Stop Out | No |
| Mobile Trading | Yes |
| Liquidity Provider | No |
| Affiliate Program | No |
| Contests and Bonuses | Yes |
Safety and Regulation: 9.5/10
Based on our review expert’s evaluation, the AltCoinTrader app earns a strong rating of 9.5/10 due to its strong security and regulatory compliance.
The rating indicates that the crypto exchange is reliable and offers robust protection for its users.
For a more specific rating, the following are the advantages and disadvantages we observed with the AltCoinTrader app.
Security Factors
| ADVANTAGES | DISADVANTAGES |
| – 2FA Tier-1 Regulation – Cold Wallet Storage – Government-Regulated – No Successful Hacks Encountered | – Not Regulated in the U.S. – No Investor Protection Fund – No Facial Recognition |
Regulation
AltCoinTrader obtained both a Category 1 and Category 2 license from the Financial Sector Conduct Authority (FSCA).
These regulations ensure compliance with stringent standards, strong investor protection, and enhanced security for users on the platform.
Verification
The AltCoinTrader app and website require “Know-Your-Customer” (KYC) verification before users can access the site. With the KYC verification in place, you will need to complete a verification process before you can open an account and access the platform’s services.
Fees and Minimum Deposit: 7.8/10
AltCoinTrader allows users to buy and sell cryptocurrencies against the South African Rand (ZAR). While it’s not the cheapest crypto exchange, its fees are fair and competitive within the market. For this reason, our review partner’s score for its trading fees is 7.8/10.
Below are the criteria considered for the rating:
| ADVANTAGES | DISADVANTAGES |
| – PayPal payments – Bank cards for Instant Deposits – Several Cryptocurrencies for Deposits and Withdrawals – Google Pay Supported | – Withdrawal fee applies – No P2P transfer option |
Besides providing a trade history of past transactions, it charges the following fixed transaction fees:
| Minimum Deposit | None |
| Trading Fees | 0.1% of Trade Value |
| Deposit and Withdrawal Fees | 0.5% of Trade Value |
| Leverage | 1:1 |
| Spot Fee | 0.1%–0.1% |
Supported Markets and Coins: 4/10
AltCoinTrader receives a score of 4/10 in this area, indicating that it offers a modest selection of assets and markets.
Although the AltCoinTrader app covers essential trading functions, the number of supported fiat currencies, coins, and investment tools may be insufficient for users seeking more comprehensive options.
Below are the factors our review partners observed when evaluating AltCoinTrader in this area:
| ADVANTAGES | DISADVANTAGES |
| – Fiat Currencies Supported – Staking Available | – Does Not Have Crypto Options – Yield Farming Not Available |
Trading Apps and Tools: 6/10
Our review partners gave the AltCoinTrader app a score of 6/10 for providing a solid set of tools. The app is reliable and intuitive, although certain advanced features remain limited or require further improvement.
| ADVANTAGES | DISADVANTAGES |
| – Advanced Charting with TradingView Support – Mobile Indicators Allowed – Advanced Tools and Automation Using API – App Data Protection With 2FA | – No Access to Copy Trading – Standalone Desktop Access Not Available – No Trading Bots for Traders to Use |
Learn What Others Say About the AltcoinTrader App
Without a doubt, AltcoinTrader serves as a good crypto exchange platform for traders worldwide. However, it does not come without some limitations.
Interested in this cryptocurrency platform? Learn what adept traders have to say about AltcoinTrader at CommuniTrade.
By becoming a community member, you can interact with members by asking questions, learning new insights, and sharing trading experiences with like-minded traders. Learn what’s in store for you when it comes to cryptocurrency trading at CommuniTrade!
FAQs
How long do AltCoinTrader withdrawals take?
AltcoinTrader processes ZAR withdrawals thrice daily. Although they are processed every 5-15 minutes, it may take up to 24 hours to reflect in your account, depending on your bank’s processing time.
Withdrawals confirmed past 3:00 PM will only be processed the next working day.
What is the AltcoinTrader app used for?
AltcoinTrader allows you to trade the top cryptocurrencies worldwide using the South African Rands (ZAR).
How do I verify my AltcoinTrader account?
To verify your account, provide the following information:
- Proof of residency
- Proof of identity
- Picture of yourself holding your ID
- Verified cell phone number
- Accomplished profile information
Want to Know More About Crypto Exchanges?
CommuniTrade houses an online community of experienced traders with extensive knowledge in the trading world.
Our online community also offers a wealth of knowledge from various educational resources on the financial market. With our experts’ help, you can leverage your trading knowledge to new heights.
What are you waiting for? Learn about the fascinating world of cryptocurrency exchanges like the AltcoinTrader app at CommuniTrade!
