How to Short Altcoins For Beginners

A lot of traders are asking where to short altcoins and how to short altcoins? This article will answer both questions and also give you a review of the best exchanges where you can go against the general crowd and profit from a declining market. I’ve included some of the most important exchange features like the number of supported altcoins, deposit methods, trading fees, and leverage. Make sure you read through the entire article before you pick your favorite because there are many similarities between these altcoin trading platforms but also some differences.

In the list below of the best places to short altcoins, we have decided to include both regulated platforms that allow for short-selling of cryptocurrencies. Remember that for an exchange to be able to offer short-selling they need to be working with a margin-based trading structure. We have included the most trustworthy and reputable platforms on the market. Some of them are regulated which is always a huge plus but the others that don’t have a government regulation have a proven track record for being safe and trusted.

How to short altcoins – Step by step guide

Below is a step-by-step guide on how to short altcoins and these steps can be applied to almost any platform that allows for short selling.

  1. Pick an exchange that includes your favorite altcoin in the list below.
  2. Create an account.
  3. In the main menu, locate the margin or futures trading platform.
  4. Now, select the coin you want to short sell.
  5. Choose the amount you want to short sell.
  6. Click SELL or SHORT to initiate the position.

When choosing your favorite crypto trading platform to short-sell coins, make sure you take your time to know the layout before you start. Also, if you decide to short altcoins with leverage, start small. Check the table below to see a summary of the altcoin exchanges or read the full review below for more information on how to short cryptocurrency. Keep in mind to always use a stop-loss order even if you don’t use leverage when shorting. It is the best way to protect the downside, or in this example, the upside risk.

Best Platforms for Short Selling Altcoins

Regulation
Rating
Best for
Trading Fee
Minimum Account
Our rating:
4.22/5
Excellent
Regulated by
FinCEN, ACRA, MEAC
0.10%
10$
All Traders
Quick Review
  • Established 2019 Singapore
  • Type Cryptocurrency Exchange
  • Currencies USD, CNY, VND, EUR, HKD, JPY, IDR, KRW, RUB, BRL, THB, GBP, PHP, SGD, INR…
  • Funding Visa, Mastercard, Bank transfer, PayId, Osko, SEPA, Sofort, Klarna, Interac
  • Languages Mandarin (Chinese), Russian, Vietnamese, Korean, Japanese, Portuguese, Indonesian (Bahasa Indonesia)
  • Restricted countries China, Korea, Democratic People”s Republic of, Pakistan
  • Products Cryptocurrency, Derivatives, Forex
  • Trading platforms Mobile App Android + Mac, Webtrader, Own trading platform Windows
  • Devices Smartphone, Desktop, Web, Tablet
  • Max leverage 400
  • Order types MO – Market Order, LO – Limit Order, TO –
  • Support Email, Live Chat
  • Copy Trading
  • Welcome Bonus
  • Leverage Trading
  • Buy Cryptocurrency
  • High Security
  • Quick Registration
Pros

• Very intuitive copy trading platform
• A regulated digital asset platform that offers leverage trading
• Available in the US

Cons

• No contact phone number
• Lacking a good news source
• Missing cold storage wallet

Our rating:
4.21/5
Excellent
Regulated by
FinCEN
0.25%
10$
All Traders
Quick Review
  • Established 2017 United States
  • Type Cryptocurrency Exchange
  • Currencies USD, EUR, CAD
  • Funding Visa, Mastercard, Apple Pay, Cryptocurrency, PayPal, Bank transfer, Gift Card
  • Languages English
  • Restricted countries Afghanistan, Belarus, China, Cuba, Congo, Iran, Islamic Republic of, Iraq
  • Products Cryptocurrency, Futures, ICO
  • Trading platforms Tradingview, Own trading platform Windows + Mac, Mobile App Android
  • Devices Web, Smartphone, Tablet, Desktop
  • Max leverage 125
  • Order types MO – Market Order, LO – Limit Order, PO –
  • Support Live Chat, Email
  • Advanced Trading Platform
  • High Security
  • Earn Cryptocurrency
  • OTC Market
  • Staking
  • Buy Cryptocurrency
Pros

• Advanced interface for active crypto-traders
• Offers great OTC solutions
• Regulated in the USA by FinCEN

Cons

• Relatively new platform
• Not very beginner-friendly
• The website is lacking a market news source

Our rating:
4.19/5
Excellent
Regulated by
FinCEN
0.10%
1$
Day Traders
Quick Review
  • Established 2018 United States
  • Type Cryptocurrency Exchange
  • Currencies USD, EUR, GBP, AUD, CAD, SGD, HKD, TRY, ZAR, CHF, ILS, PHP, RUB
  • Funding Bank transfer, Visa, Mastercard, ACH, Cryptocurrency, Silvergate Exchange Network(SEN)
  • Languages English, Korean, Japanese, German, French, Dutch, Turkish, Vietnamese, Portuguese, Russian
  • Restricted countries Cuba, Syrian Arab Republic, Korea, Democratic People”s Republic of, Sudan
  • Products Cryptocurrency
  • Trading platforms Webtrader, Tradingview, Mobile App Android + Mac, Own trading platform
  • Devices Smartphone, Desktop, Web, Tablet
  • Max leverage 10
  • Order types SLL – Stop Loss Limit, SM – Stop Market, TSL
  • Support Email, Contact Form
  • Advanced Trading Platform
  • Leverage Trading
  • Real Stop Loss
  • Customisable Interface
  • Trading App
  • High Security
Pros

• Available in over 13 different languages
• Trade crypto with leverage in the US
• Low fees and market-making rebates

Cons

• No live chat
• Relatively new platform
• No demo account is available

Our rating:
4.14/5
Excellent
Regulated by
BAPPEBTI
0.10%
5$
All Traders
Quick Review
  • Established 2018 Indonesia
  • Type Cryptocurrency Exchange
  • Currencies IDR
  • Funding Cryptocurrency, Bank transfer, OVO, GoPay
  • Languages English, Indonesian (Bahasa Indonesia)
  • Restricted countries Cuba, Iran, Islamic Republic of, Korea, Democratic People”s Republic of
  • Products Cryptocurrency, ETF
  • Trading platforms Webtrader, Mobile App Android + Mac, Tradingview
  • Devices Desktop, Smartphone, Tablet, Web
  • Max leverage 1
  • Order types MO – Market Order, LO – Limit Order, SL –
  • Support Email, Contact Form, Live Chat
  • Trading App
  • Buy Cryptocurrency
  • Trading Bot
  • Professional Support
  • High Security
  • Instant Deposits
Pros

• Fully regulated crypto-asset exchange by BAPPEBTI
• Great support through the live chat
• Lower than average trading fees

Cons

• Few international payment methods
• No easy-to-use stop loss order type
• Lacking a performance analytics interface

Our rating:
4.08/5
Excellent
Regulated by
FinCEN, FINTRAC, GFSC
0.25%
20$
All Traders
Quick Review
  • Established 2013 United Kingdom
  • Type Cryptocurrency Exchange
  • Currencies USD, EUR, GBP, RUB
  • Funding Visa, Mastercard, SWIFT, Faster Payment System (FPS), SEPA, QIWI, Skrill
  • Languages English, Russian, Mandarin (Chinese), Italian, Portuguese, Spanish
  • Restricted countries Afghanistan, Bosnia and Herzegovina, Burundi, Central African Republic, Cuba, Korea
  • Products Cryptocurrency, Forex, Stocks, Metals
  • Trading platforms Webtrader, Own trading platform Windows + Mac, Tradingview
  • Devices Desktop, Smartphone, Web, Tablet
  • Max leverage 100
  • Order types MO – Market Order, LO – Limit Order, SL –
  • Support Phone Number, Live Chat
  • Buy Cryptocurrency
  • Veteran Trading Platform
  • Fiat Account
  • Beginner Friendly
  • Margin Trading
  • Staking
Pros

• Very easy to use for beginner crypto investors and traders
• Regulated cryptocurrency exchange for extra security and trustworthiness
• CEX.IO is a veteran exchange that has been live since 2013

Cons

• Very poor trading interface for day traders and scalpers
• Low-quality customer support
• Few fiat currencies accepted

Our rating:
4.06/5
Excellent
Regulated by
FSA
0.30%
10$
All Traders
Quick Review
  • Established 2014 Japan
  • Type Cryptocurrency Exchange
  • Currencies AED, ARS, AUD, BDT, BGN, BHD, BMD, BND, BRL, BTN, CAD, CHF, CLP, CNY, COP…
  • Funding Cryptocurrency, Visa, SEPA, SWIFT
  • Languages English, Spanish, Russian, Vietnamese, Japanese, Mandarin (Chinese)
  • Restricted countries Japan, United States, United States Minor Outlying Islands
  • Products Cryptocurrency, Derivatives
  • Trading platforms Tradingview, Own trading platform Windows + Mac, Webtrader
  • Devices Desktop, Smartphone, Web, Tablet
  • Max leverage 100
  • Order types TSL – Trailing Stop Loss, SL – Stop Loss, TP
  • Support Email, Contact Form, Live Chat
  • Fast Withdrawals
  • Veteran Trading Platform
  • High Security
  • Cryptowatch
  • Performance Analytics
  • Real Stop Loss
Pros

• Regulated by the Japanese Financial Service Agency (FSA)
• Great security with built-in cold wallet storage
• Veteran cryptocurrency exchange with high trustworthiness

Cons

• Very slow live chat
• Very few payment providers for fiat currencies
• Not available in the United States

Our rating:
3.98/5
Trustworthy
Non-Regulated
0.10%
15$
All Traders
Quick Review
  • Established 2017 Malta
  • Type Cryptocurrency Exchange
  • Currencies EUR, USD, RUB, VND, TRY, MYR, THB, INR, PEN, MXN, CHF, COP, SEK, HUF, NOK…
  • Funding Bank transfer, Visa, Neteller, Skrill, Banco Brubank, PayPal, ABA Bank
  • Languages English, Spanish, German, Italian, Swedish, Russian, Turkish, Portuguese, Romanian, French
  • Restricted countries United States, United States Minor Outlying Islands
  • Products Cryptocurrency, Futures, Options, ETF, Derivatives
  • Trading platforms Webtrader, Own trading platform Windows + Mac, Tradingview
  • Devices Desktop, Smartphone, Web, Tablet
  • Max leverage 125
  • Order types SL – Stop Loss, IOC – Immidiate or Cancel, GTX
  • Support Live Chat, Email, Contact Form
  • Leverage Trading
  • Beginner Friendly
  • Daily Gainers & Losers
  • Altcoins
  • Short Selling
  • Customisable Interface
Pros

• Great trading tools for active altcoin traders
• Largest crypto exchange globally by volume
• Easy to use for first-time traders

Cons

• Non-regulated
• Withdrawal fees are somewhat expensive
• Not available for US traders

Our rating:
3.92/5
Trustworthy
Non-Regulated
0.15%
50$
All Traders
Quick Review
  • Established 2017 Bulgaria
  • Type Cryptocurrency Exchange
  • Currencies AED, ALL, AMD, ANG, ARS, AUD, AZN, BAM, BBD, BDT, BGN, BMD, BND, BOB, BRL…
  • Funding Mastercard, Visa, Cryptocurrency, Bank transfer, SEPA, SWIFT
  • Languages English, Japanese, Mandarin (Chinese), Korean, Portuguese, Russian
  • Restricted countries Cuba, Iran, Islamic Republic of, Syrian Arab Republic, Korea, Democratic
  • Products Cryptocurrency, Stocks
  • Trading platforms Webtrader, Tradingview, Mobile App Android + Mac
  • Devices Desktop, Smartphone, Tablet, Web
  • Max leverage 5
  • Order types LO – Limit Order, MO – Market Order, SL –
  • Support Email, Contact Form
  • Social Trading
  • Beginner Friendly
  • Trading App
  • Advanced Trading Tools
  • Staking
  • Security Of Funds
Pros

• Cold storage wallet for maximum fund security
• The user interface is very easy to navigate for beginners
• Social trading platform with new technologies

Cons

• Non-regulated cryptocurrency exchange
• There is no live chat available on the platform
• Decoin lacks an education hub for beginner investors

Our rating:
3.91/5
Trustworthy
Non-Regulated
0.20%
35$
All Traders
Quick Review
  • Established 2018 Virgin Islands, British
  • Type Cryptocurrency Exchange
  • Currencies USD, CNY, KRW, VND, EUR, AUD, CAD, GBP, HKD, INR, JPY, NZD, PHP, SGD, TWD
  • Funding Cryptocurrency
  • Languages English, Mandarin (Chinese), Japanese, Vietnamese
  • Restricted countries China, Singapore
  • Products Cryptocurrency, Derivatives
  • Trading platforms Webtrader, Tradingview, Mobile App Android + Mac
  • Devices Desktop, Smartphone, Tablet, Web
  • Max leverage 100
  • Order types LO – Limit Order, MO – Market Order, SL –
  • Support Live Chat, Email
  • Margin Trading
  • Advanced Charting
  • Mining
  • Security Of Funds
  • Short Selling
  • Staking
Pros

• Top rising altcoins for the day on the home page
• Great products for investors, traders, and miners
• Cold storage crypto wallet and multi-signature protection

Cons

• Non-regulated cryptocurrency exchange
• Missing educational material for beginner investors and traders
• There is no option to buy crypto with fiat

Our rating:
3.89/5
Trustworthy
Non-Regulated
0%
50$
Day Traders
Quick Review
  • Established 2019 Saint Vincent and the Grenadines
  • Type Cryptocurrency Exchange
  • Currencies USD, EUR, AUD, CHF, CZK, DKK, GBP, HUF, KRW, ILS, NOK, NZD, PLN, RUB, SEK…
  • Funding Mastercard, Visa, Maestro, Cryptocurrency
  • Languages English, German, Mandarin (Chinese), Spanish, Dutch, Italian, Polish, Portuguese, Russian
  • Restricted countries United States, United States Minor Outlying Islands, Japan, Afghanistan, Bosnia
  • Products Cryptocurrency, Futures, Indices, Options
  • Trading platforms Webtrader, Mobile App Android + Mac, Own trading platform Windows
  • Devices Desktop, Smartphone, Tablet, Web
  • Max leverage 300
  • Order types MO – Market Order, SL – Stop Loss, LO –
  • Support Phone Number, Email, Contact Form
  • $0 Trading Fee
  • Trading Signals
  • Deposit Bonus
  • Leverage Trading
  • Advanced Trading Platform
  • Mining
Pros

• Very favorable commission structure
• Free demo account to practice
• Very high interest in the staking program

Cons

• Non-regulated cryptocurrency exchange
• Relatively new exchange with no reputation
• Few altcoins available

1. Binance – Best overall

Can you short on Binance?

Yes, you can short sell on Binance.

You will have 184 different cryptocurrencies to choose from on Binance but you will only be able to short 24 of them.

These altcoins are available for margin trading:

  • ADA
  • ATOM
  • BAT
  • BCH
  • BNB
  • EOS
  • ETC
  • ETH
  • IOST
  • IOTA
  • LINK
  • LTC
  • MATIC
  • NEO
  • ONT
  • QTUM
  • RVN
  • TRX
  • VET
  • XLM
  • XMR
  • XRP
  • XTZ
  • ZEC

Once you choose your margin wallet you will be able to go short.

To know which altcoins you can short, click your markets on top of your trading interface.

All cryptocurrencies with the symbol x5 are available.

You will find your margin wallet in your order selection box.

binance short trading screenshot

Deposit methods on Binance

On Binance you can deposit with:

  • Credit card
  • Cryptocurrncy

I’ve tried both deposit methods and I must say that both are very easy to use. It only depends on what you prefer.

Remember one thing.

You can only deposit funds to your spot wallet.

Before you start trading on Binance you have to transfer funds within the exchange from your normal wallet to your margin wallet.

All you have to do is to open your margin wallet and start transferring funds between the wallets.

The margin fund transfer looks like this.

Simply choose your altcoin, choose an amount and click confirm on transfer.

binance altcoin wallet screenshot

In my opinion, Binance has made it very easy to start trading using your margin wallet and I recommend trying it.

When you are looking for an exchange for short altcoins, user-friendliness is very important for you to manage your trading in the best way.

Fees on Binance

Binance is very competitive when it comes to fees and that is one reason why I chose Binance in this review.

The basic trading fee on Binance is 0.10%.

binance altcoins fee table screenshot

This is extremely low and a huge advantage for active altcoin day traders.


Remember that you can trade with Binance coin (BNB) as well and this will lower your trading fees by 25%.

Binance coin has its market and it’s very easy to navigate in the trading interface.

The trading fee goes down to 0.075% while shorting cryptocurrency with BNB.

Here is a fee table for BNB.

binance altcoin fee table screenshot

This is another very good reason to short-sell on Binance.

This can save you a lot of trading capital if you choose to trade on Binance.

For very active altcoin day traders it’s essential to find as low trading fees as possible.

Binance Rating

Binance’s overall rating has to be 5/5 thanks to their awesome trading fees and the huge variety of cryptocurrencies available to short.

Not many altcoin exchanges will have this variety so I’m very happy with that.

I also really like the trading interfaces on Binance because you can choose from two different.

The Classic interface and the Advanced interface.

The Advanced interface has more indicators and is more focused on experienced altcoin traders.

If you would like to short-sell on Binance, click here to visit the exchange.

Or if you want to check out more information about this platform you can visit our Binance review.

2. Bitmex – Best for active traders

bitmex

Altcoins available to short on Bitmex

You can short 7 altcoins on Bitmex.

These are some of the most popular are most traded cryptocurrencies on the market.

Here is a list of altcoin available:

  • Cardano
  • Bitcoin Cash
  • EOS
  • Ethereum
  • Litecoin
  • Tron
  • Ripple

It’s very easy to access and switch between altcoins on Bitmex.

Just navigate to the bar that’s located above your trading interface.

bitmex altcoin trading interface screenshot

Once you click on another altcoin your screen will change but all your settings will stay the same and you are good to go.

In my opinion, having fewer altcoins to short is sometimes easier.

Since these are some of the more heavily traded cryptocurrencies I’m sure you won’t lose out on any action by following these coins.

Deposit methods on Bitmex

On Bitmex you can only deposit Bitcoins.

It is very easy to deposit and it’s never bothered me to deposit Bitcoins to trade.

Simply head over to your account by clicking on the Account button on top of the screen.

bitmex altcoin short trading interface screenshot

This will take you to your account page and here you click Deposit and copy your Bitmex address.

bitmex altcoin deposit screenshot

The deposit will not take longer than it takes for the Bitcoin miners to mine one block of bitcoin, so you won’t have to wait that long.

When you short-sell on Bitmex you will use your Bitcoins as contracts against the altcoin.

It’s a little bit different but it works the same way as if you would short using USD or any other currency.

Fees on Bitmex

Bitmex is also very competitive with its trading fees and it’s a good choice for active altcoin traders.

The basic trading fee is 0.25%.

This goes for all market takers, here is a fee table to illustrate.

There is nothing special about the term taker, it’s just the opposite of a market maker.

If you are trading using market orders you are a market taker and therefore you should follow the taker fee in the table.

If you, however, are using limit orders, you are putting into the order book, then you are a market maker.

Normally traders are taking orders from the order book and should follow the taker fee.

Bitmex Rating

I highly recommend shorting altcoins on Bitmex thanks to their user-friendly trading interface and extremely low trading fees.

I will for sure keep trading on Bitmex and can’t say anything negative.

Another huge plus with BitMEX is that you can get up to 50x leverage on some of the cryptocurrencies, which gives you a little extra push.

3. Bybit – Best for advanced traders

bybit exchange

Altcoins available to short on Bybit

On Bybit you can short three altcoins.

  • ETH
  • EOS
  • XRP

Bybit has been updating their list of cryptocurrencies lately and I’m sure they will add more altcoins to the shortlist as well very soon.

They have over 150+ cryptocurrencies trading on the exchange at the moment and I’m looking forward to seeing more shortable altcoins on this list.

To short these altcoins, you need to access the Inverse Perpetual trading contract.

The way you do this is by clicking on the trade button in the top left corner of the exchange and then clicking Inverse Perpetual.

Bybit short altcoin trading interface screenshot

From here it’s easy to navigate and change altcoins as you like it.

The trading interface on Bybit is very good and easy to use.

That’s one of the reasons I like to trade on this exchange and I’m sure you will like it too.

Deposit methods on Bybit

On Bybit you can deposit with Cryptocurrency and it’s very easy.

To deposit to your account, simply click on your account in the top right corner and then click Assets

This will take you to the deposit page and it looks like this.

bybit short altcoin exchange screenshot

Here you are free to choose which altcoin you want to send to your account.

When you have chosen altcoin, click the deposit and a new window will pop up with your altcoin address.

bytbit altcoin deposit screenshot

Copy the address or scan the QR-code and you are good to go.

The deposit only takes as long as it takes for miners to mine one block.

In other words, it’s pretty fast.

When the funds arrive you are ready to short altcoins.

Fees on Bybit

Bybit has some of the lowest fees in the game.

The basic trading fee for market takers is 0.075%.

bybit short altcoin fee screenshot

That’s insanely good.

This is why I traders love to sell short on Bybit.

The trading fees never eat your account capital and you can keep trading without worrying about fees.

ByBit Rating

Even though Bybit doesn’t have the longest list of altcoins at the moment, they truly deserve 5 stars.

Their trading interface is very good and their trading fees are some of the lowest I have seen so far.

To transfer funds and start trading in Bybit is also very easy and that’s something I look for before I start trading on a new exchange.

If you would like to sell short on Bybit, click here to visit the exchange.

Or to find more valuable information about this platform you can visit our Bybit review.

Can you short Altcoins?

Yes, it’s possible to short-sell Altcoins.

Many traders are struggling to find the best place to short altcoins after a good bull run.

It’s very tempting to try to short the top when the market has peaked for a few weeks or days.

Short selling can be very profitable but also very risky, you should be aware of the risk before you try it out.

This article is showcasing the top 3 best exchanges where you can short altcoins.

Don’t jump the gun as soon as you have registered, make sure you have stopped a very good setup before you enter the market.

Reckless trading can cause more harm than good, trust me on that.

So, let’s check out where you can short your favorite cryptocurrency.

Where to short altcoins

This review will cover three of the best exchanges where you can sell short.

  • Binance
  • Bitmex
  • Bybit

I’ve chosen these altcoin exchanges due to:

  • User-friendly trading interfaces
  • Variety of cryptocurrencies to short
  • Deposit methods
  • Fees

There are a couple of things that you need to keep in mind before you start trading and I’ve covered the most important topics in this review.

Remember that before you start going against the market, you need to either buy crypto with a credit card on the exchange or transfer your coins there.

Read through all of them if you want to know more about all of the exchanges or focus on the one you are interested in.

Some of the exchanges may not have all the altcoins you are looking for but they make up for that with either higher leverage or very user-friendly trading interfaces.

This should make the choice easier for you and help out in your search for the right exchange.

The platforms in this article also have crypto trading apps where you can short cryptocurrency on the go.

How to short altcoins

It’s not different to short altcoins than to trade them on the long side.

Most exchanges will first tell you to create a margin account or send funds to a special wallet before trading and then you are good to go.

The exchanges I have reviewed in this article make it super easy to short altcoins.

In my opinion, it’s very important to find the right exchange before you start trading.

Some traders prefer to have more cryptocurrencies and a wider selection to choose from and some traders focus more on the trading interface and trading fees.

Whatever is your preference I’m sure you will find what you are looking for in this article.

Conclusion

In this article, you will find the three best altcoin exchanges to short altcoins.

If you only want to see their stats, check out the table at the top. If you want more in-depth information about each exchange I recommend that you read the whole article.

All three of these exchanges are very good at what they do. Your job is to find which one you like the most.

Yes. It’s possible to short altcoins on some exchanges. Read this review to find out more.

Yes. You can short Bitcoin and Altcoins on Binance.

Yes. Many exchanges offer short selling with leverage.