Overview
AltCoinTrader is a South African crypto exchange that started in 2017. It focuses on local users, offering trading with ZAR pairs and a small range of altcoins. The platform is regulated in South Africa, but trading volumes are low and its presence outside the country is almost non-existent.
AltCoinTrader - South Africa’s Homegrown Exchange
AltCoinTrader back in 2017 aimed to make crypto trading easier for South Africans. It gave users the ability to buy and sell coins directly with ZAR and quickly became a known name in the local scene. Today it still runs, but mainly as a regional platform. It does not compete with big global exchanges and stays within its niche.
Features and User Experience
Using the exchange is straightforward. Sign up, pass KYC, deposit ZAR through a local bank and you are ready to trade. The interface is simple and beginner-friendly, but do not expect advanced tools like margin or futures. The coin list is decent but nothing special, and fiat support stops at ZAR.
Volume and Liquidity
Daily trading rarely goes beyond 700,000 USD. Most of it comes from ZAR pairs like USDT, XRP, and BTC. For small trades this is fine. For bigger orders liquidity is thin, and spreads can widen quickly.
Security and Trust
The platform operates under South African regulations, which adds some trust for local users. Still, there are no published audits or proof of reserves. Outside its home country, it has little recognition or independent ratings.
Reputation Among Users
Public reviews are hard to find. There are no widespread complaints, but also no strong positive feedback. People use it because it is local and convenient, not because it offers anything extraordinary.
Pros and Cons
- Pros: Direct ZAR support with easy fiat deposits; Simple and clear interface for beginners; Access to main altcoins for local users.
- Cons: Low trading volume and limited liquidity; No advanced trading features or derivatives; No proof of reserves and little transparency; Not useful for traders outside South Africa.
Who Should Use It
AltCoinTrader is a good choice if you live in South Africa and want a quick way to trade crypto with your local currency. It does what it promises without unnecessary complexity. For anyone outside the region, or for traders who need deep markets and advanced tools, it offers too little to be worth the effort.
Final Thoughts
AltCoinTrader delivers on its local mission: a simple, regulated place for South Africans to buy and sell crypto with ZAR. But its scale is small, liquidity is modest, and features are basic. For newcomers in the region it works well. For everyone else, it is just another small exchange with limited appeal.