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 short altcoins.
I’ve included some of the most important excange features like:
- Supported Altcoins
- Deposit Methods
- Trading Fees
Make sure you read through the entire article before you pick your favorite.
There are many similarities between these altcoin trading platforms but also some differences.
When choose your favorite crypto trading platform to short altcoins, make sure you take your time to know the layout before you start.
Also, if you decide to short altcoins with leverage, start out 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.
Best Exchanges to Short Altcoins Compared
Can you short Altcoins?
Yes, it’s possible to short sell Altcoins.
Many traders are struggeling 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 short altcoins.
I’ve chosen these altcoin exchanges due to:
- User-friendly trading interfaces
- Variety of cryptocurrencies to short
- Deposit methods
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 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 chouse 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.
Short Altcoins on Binance
Can you short on Binance?
Yes, you can short sell on Binance.
You will have 184 different cryptocurrency to choose from on Binance but you will only be able to short 24 of them.
These altcoins are available for margin trading:
Once you choose your margin wallet you will be able to go short.
To know which altcoins you are able to 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.
Deposit methods on Binance
On binance you can deposit with:
- Credit card
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 amount and click confirm transfer.
In my opinion, Binance has made it very easy to start trading using your margin wallet and I definitely recommend trying it.
When you are looking for an exchange to short altcoins, user-friendliness is very important for you to manage your trading in the best way.
Fees on Binance
Binance are 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%.
This is extremely low and a huge advantage for active altcoin day traders.
Remember that you can trade with Binance coin (BNB) aswell and this will lower your trading fees by 25%.
Binance coin has its own market and its 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.
This is another very good reason to short altcoins on Binance.
This can really 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.
Binanace over all rating has to be 5/5 thanks to their awesome trading fees and the huge variety of cryptocurrencies available to short.
Not many altcoin exchange 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 altcoins on Binance, click here to visit the exchange.
Short sell Altcoins on Bitmex
Altcoins available to short on Bitmex
You are able to 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:
- Bitcoin Cash
It’s very easy to access and switch between altcoins on Bitmex.
Just navigate to the bar that’s located above your trading interface.
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, havin less 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 Acctount button on top of the screen.
This will take you to your account page and here you click Deposit and copy you Bitmex address.
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 altcoins 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 are also very competitive with their trading fees and it’s a good choise 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 oposite 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 in to the order book, then you are a market maker.
Normally traders are taking orders from the order book and should follow the taker fee.
I highly recommend to short 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.
If you would like to short altcoins on Bitmex, click here to visit the exchange.
Short Altcoins on Bybit
Altcoins available to short on Bybit
On Bybit you are able to short three altcoins.
Bybit has been updating their list of cryptocurrency 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 Invesrse 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 click Inverse Perpetual.
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 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.
Here you are free to choose which altcoin you want to send to your account.
When you have chosen altcoin, click the deposit and new window will pop up with your altcoin address.
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%.
That’s insanely good.
This is why I love to short altcoins on Bybit.
The trading fees never eat your account capital and you can keep trading without worrying about fees.
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 short altcoins on Bybit, click here to visit the exchange.
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 makes 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.
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.
If you want to trade altcoins with leverage or learn more about crypto exchanges security make sure to read these articles:
Yes. It’s possible to short altcoins on some exchange. Read this review to find out more.
Yes. You can short Bitcoin and Altcoins on Binance.
Yes. Many exchanges offer shortselling with leverage.