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Tuesday, June 25, 2024

Alterdice Exchange Review: Alterdice Is Legit & Secure Exchange

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About Alterdice Exchange

Alterdice describes itself as a cryptocurrency trading platform with low commissions. The team claims to offer the most liquid exchange in the world that allows users to exchange cryptocurrencies for other assets. It also offers a host of order types to help traders manager different scenarios. Alterdice aims to provide a secure, reliable, and stable environment for digital assets trading through its mobile application and web interface.

Alterdice is a quite new crypto exchange from Singapore. It launched in October 2018.

How To Sign Up & Start Trading

ExchangeDetails
Exchange NameAlterdice Exchange
Exchange TypeCryptocurrency
Withdraw Fee0.0005 BTC
Support24/7
LangugaeEnglish
Taker Fee 0.20%
Maker Fee 0.20%
WebsiteHomepage

How To Sign Up & Start Trading

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You Sign Up For A User Account By Providing Basic Information.

On Every Exchange You Will Get Option For Sign Up Or Create Account . Just Fill Some Basic Details Like Name , Email , Password , Security Question Etc For Registration . It Is First Step To Start Trading On Any Exchange

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You Then Receive An E-mail In Your Mailbox To Activate Your Account.

Before You Can Login, You Must Active Your Account With The Code Sent To Your Email Address.Then You Will See A Message That Your Financial Account Is Activated And Ready To Go. This Means That You Can Log In And Start Trading In Cryptocurrency.

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Identity Verification

For Successful Verification You Will Need Identity Documents. For Example, You Can Use A Driver’s License Or Passport, Where The Name Is Duplicated In Latin Letters.Confirmation Of Identity On Exchange Is An Optional Step. The Procedure Must Be Completed Only If You Want To Remove The Restrictions Of Btc On Deposit Or Withdrawal Of Funds Per Day.

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Alterdice Trading fees

Trading fees are naturally very important. Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges charge what we call taker fees, from the takers, and what we call maker fees, from the makers. The takers are the people who “take” orders from the order book. This means that they remove order options from the order book and thereby remove liquidity. Makers are the ones who put the orders on the order book in the first place.

Alterdice charges the same fee for both takers and makers, namely 0.20%. These fees are quite in line with, or even slightly lower than the global industry average. The global industry average taker fee has for a long time been 0.25%, but we are now seeing more and more exchanges shifting to lower fees (0.15% or 0.10%). According to the largest empirical study ever performed on the subject (dated 31 October 2020), the industry average taker and maker fees were 0.213% and 0.16%, respectively.

Alterdice Withdrawal fees

Withdrawal fees are normally a fixed amount that varies from cryptocurrency to cryptocurrency. There are however also a number of exchanges that charges a certain percentage of the withdrawn amount as the withdrawal fee.

Alterdice has a quite uncommon structure in the way that they, for some cryptos, charge both a fixed withdrawal fee and a percentage based withdrawal fee. For Bitcoin, however, the fixed fee is 0.0005 BTC with no added percentage of the withdrawn amount. 

The global industry average fixed BTC-withdrawal fee is approx. 0.0006 BTC per BTC-withdrawal, but it is naturally difficult to compare that average with Alterdice’s fees as the Alterdice fee structure is a hybrid model.

Deposit Methods

This exchange does not accept any other deposit method than cryptocurrencies, so new crypto investors are restricted from trading here. If you are a new crypto investor and you wish to start trading at this exchange, you will have to purchase cryptos from another exchange first and then – as a second step – deposit them here. Don’t worry though, you can find a so called “entry-level exchange” simply by using our Exchange Finder tool.

Alterdice Exchange Features

Trading cryptocurrencies

Alterdice offers a platform for users to exchange different cryptocurrencies. Popular cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and others are frequently seen.

Trading pairings

Alterdice provides a number of trading pairings that enable users to convert one cryptocurrency into another. You could trade BTC for ETH or ETH for XRP, for instance.

Spot Trading

Buying or selling cryptocurrencies for immediate settlement at the present market price is referred to as spot trading. On Alterdice, it is the most fundamental kind of trading.

Advanced Order Types

Alterdice may offer sophisticated order types in order to support various trading methods. Market orders, limit orders, stop orders, and other types of orders might be included. Users can specify specific requirements for their trades using advanced order types.

Margin Trading

Some exchanges, such as Alterdice, might provide margin trading. Users can trade using borrowed money thanks to this function, which increases their trading positions. Trading on margin might increase potential gains, but it also entails more dangers.

Security Measures

Alterdice places a high priority on the protection of user payments. Measures like two-factor authentication (2FA), encryption standards, and cold storage for offline asset storage can be a part of this.

Services for wallets

Alterdice normally gives customers wallets to keep their bitcoins on the website. These wallets provide simple access to money for trade needs. Nevertheless, it is typically advised to keep sizeable amounts of cryptocurrencies in safe external wallets.

Mobile App

Alterdice might provide an iOS and Android mobile application that enables users to access their accounts, track the market, and trade while on the go.

Trading Instrument

Alterdice may offer its users trading instruments like price charts, order books, and market depth data. Users who use these tools can better understand market trends and execute trading strategies.

Customer service

Alterdice often provides customer service to help users with questions, problems, or technical issues. This can be done using a support ticket system, live chat, or email.

Alterdice Conclusion

A platform for cryptocurrency exchange called Alterdice offers users a number of tools and services for exchanging cryptocurrencies. Beyond my September 2021 knowledge cutoff, I don’t have access to the most recent information, but Alterdice is normally made to make it easier to purchase, sell, and trade different cryptocurrencies.

Advanced order types, spot trading functionality, and cryptocurrency trading with a number of trading pairings are some of the primary features you might find on Alterdice or comparable platforms. Additional features offered by Alterdice could include margin trading (if available), security measures to safeguard user funds, wallet services for easy storage, mobile apps for trading while on the go, trading charts and analysis tools, API access for power users, and customer support.

The specifics of Alterdice’s features and services could have changed after my knowledge cutoff, thus for the most exact and recent information, I advise visiting Alterdice’s official website or getting in touch with their support. You can decide if Alterdice is the best cryptocurrency exchange for your needs by conducting careful research and taking into account elements like security, fees, supported cryptocurrencies, and user reviews.

Alterdice FAQ

What is Alterdice?

Alterdice is a cryptocurrency exchange platform that allows users to buy, sell, and trade cryptocurrencies. It provides a digital marketplace where users can exchange one cryptocurrency for another or for fiat currency.

How do I create an account on Alterdice?

To create an account on Alterdice, you typically need to visit their official website and go through the registration process. This usually involves providing your email address, creating a password, and completing any necessary verification steps, such as identity verification and KYC (Know Your Customer) requirements.

What cryptocurrencies can I trade on Alterdice?

The specific cryptocurrencies available for trading on Alterdice can vary over time. However, popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and others are often supported. It’s best to visit Alterdice’s website or consult their platform for an updated list of supported cryptocurrencies.

What fees does Alterdice charge?

Cryptocurrency exchanges typically charge fees for various actions, such as making trades or withdrawals. These fees can vary depending on the exchange and the specific transaction. Common types of fees include trading fees (charged when you execute a trade), deposit and withdrawal fees (for transferring funds to and from the exchange), and possibly other fees like account maintenance fees. It’s recommended to review Alterdice’s fee schedule or documentation for detailed information on their fee structure.

How can I deposit funds into my Alterdice account?

Alterdice generally provides several methods for depositing funds into your account, including cryptocurrency deposits and, depending on the exchange, possibly fiat currency deposits as well. Common methods may include transferring cryptocurrencies from an external wallet, using a payment gateway or bank transfer for fiat deposits, or utilizing other supported payment methods.

Is my money safe on Alterdice?

Cryptocurrency exchanges typically implement security measures to protect user funds. These may include measures such as two-factor authentication (2FA), encryption, cold storage for offline asset storage, and regular security audits. It’s important to research Alterdice’s specific security practices and consider additional security measures on your end, such as securing your account with a strong password and enabling 2FA.

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Disclaimer

Crypto investments come with high risk and you should always exercise caution when investing in any crypto asset. Investing in crypto carries a high level of risk, and may not be suitable for all investors. Any investment decisions made by you are made at your own risk and we are not responsible for any losses that may occur. Before investing, we recommend you consult a financial advisor to understand the risks and rewards associated with investing in crypto.

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