finder.com
Advertiser Disclosure
Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Altcoin.io cryptocurrency exchange review

Avatar
Tim Falk
Last updated:  

Your guide to the decentralized peer-to-peer cryptocurrency exchange powered by atomic swaps.

Cryptocurrency exchanges have long been an enticing target for hackers, resulting in many well-publicized thefts and security breaches. Traditional exchanges also require you to surrender control of your digital coins and tokens to a third-party service, which in and of itself can lead to some pretty serious trust issues.

No supported

Fiat currencies

33

Cryptocurrencies

Details

Product Name Altcoin.io Decentralised Exchange
Fiat Currencies -
Cryptocurrencies *Note that while the platform is under development, it is expected to support BTC, ETH, REP, ANT, BAT, EOS, SALT, CVC, DNT, SNT & 20+ more
Deposit Methods Cryptocurrency
Trading Fee TBA
Deposit Fees TBA
Withdrawal Fees None
Disclaimer: This information is not financial advice or an endorsement of cryptocurrency or any specific provider, service or offering. Cryptocurrencies are highly volatile and high risk. Do your own research and seek financial advice before buying. Please check with providers if their services are available in your state.

Which fiat and cryptocurrencies are supported?

  • Supported fiat currencies: None
  • Supported cryptocurrencies: Approximately 33 cryptocurrencies

Which payments methods are accepted?

  • Cryptocurrency

What is Altcoin.io?

According to its “lite paper”, Altcoin.io has a mission to create a decentralized cryptocurrency exchange that leverages atomic-swap technology to perform fast, affordable and secure trades through smart contract-powered payment channels. Founded in August 2017 and still in development, Altcoin.io says its cross-chain decentralized exchange will be backed by 24/7 customer support.

On October 7, 2017, Altcoin.io completed the first Ethereum-to-bitcoin atomic swap, transferring 0.12345 ETH for 0.12345 BTC. Its atomic swap wallet release took place in early 2018, and there are a few more important dates still to come on the Altcoin.io roadmap:

  • Early Q2 2018: Launch of “testnet” advanced trading interface and exchange.
  • Late Q2 2018: Launch of “mainnet”.
  • Q3 2018: Solving cross-chain interoperability (instant atomic swaps) and launching more advanced trading tools.

What’s an atomic swap?

Atomic swaps allow the exchange of one cryptocurrency for another without the need to trust a third party. First introduced as a concept in 2013, atomic swaps provide instant and trustless peer-to-peer trading between different digital currencies.

Find out more about atomic swaps in our handy guide.

Available countries

Altcoin.io will be available to crypto traders in a wide range of countries, including the US. If you’re viewing this page from somewhere other than the US and you’re not sure whether or not you’ll be able to access Altcoin.io, contact the platform’s support team directly for more information.

What security features does Altcoin.io offer?

Decentralized exchanges offer key security benefits when compared to traditional, centralized exchanges. Rather than requiring you to surrender your coins and tokens to a centralized exchange, Altcoin.io allows you to retain control of your currency at all times. So if the platform ever goes down or is hacked, your coins shouldn’t be in any danger.

When you create a wallet with Altcoin.io, it comes with a unique key. A smart contract is created to lock away your funds and then put your wallet on a blockchain where only you can access it. Wallets are locked with a 12-word passphrase and encrypted with secure passwords for added protection.

In its “lite paper,” Altcoin.io also states that before taking its exchange live, it will conduct private third-party security audits to test the security of its wallets and exchange.

Customer support

To get in touch with a representative, you can either search the company’s “knowledgebase” for answers to common questions, or fill out an online form requesting support.

You can also get in touch with the company through social media platforms like Facebook, Twitter and Telegram.

Pros and cons

Pros

  • Decentralized exchange cuts out the middleman and protects against hacking
  • Ability to instantly exchange a wide range of coins and tokens
  • You retain control of your coins and tokens
  • Intuitive and user-friendly interface
  • 24/7 customer support

Cons

  • Still being developed
  • List of supported coins and tokens still unknown
  • Hasn’t yet been tried and tested

Compare alternatives to Altcoin.io

Not yet rated

Go to site

Cryptocurrencies

BTC, BCH, BSV, ADA, DAI, EOS, ETC, FIL, XLM, XRP & 35+ more

Deposit method

Bank transfer (ACH), Credit card, Debit card, Bank transfer (SEPA), Wire transfer

Trading fee

Fees vary

Withdraw fees

Instant Card Withdrawal: Up to 1.5% of the transaction plus a minimum of $0.55
Outgoing Wire Transfer: $25
Fees vary by location and payment method.

Not yet rated

Go to site

Cryptocurrencies

BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA, MIOTA, XLM & 5+ more

Deposit method

Bank transfer, Credit card, Debit card, Neteller, PayPal, Online banking, Skrill

Trading fee

Fees vary. Overnight and weekend fees apply

Withdraw fees

US$5 (minimum withdrawal of US$50)

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.

2 Comments

    Default Gravatar
    David
    August 3, 2018

    Not clear whether you will allow me to buy btc with USD..

    Reply
      Avatarfinder Customer Care
      Joshua
      August 11, 2018

      Hi David,

      Thanks for getting in touch with finder. I hope all is well with you. :)

      According to our page, you won’t be able to purchase BTC with USD. What you can do is buy BTC from other exchanges and then bring them to Altcoin.io to trade it with other cryptocurrencies.

      I hope this helps. Should you have further questions, please don’t hesitate to reach us out again.

      Have a wonderful day!

      Cheers,
      Joshua

      Reply
Go to site