I keep mine in a mixture of long fiber sphagnum moss and perlite. It sits in a water tray with the level less than an inch above the bottom of the pot. 'Seems to work fine as this is my second year growing it.
I grew mine for a year on a windowsill in the bathroom in a net pot with long-fibered sphagnum, but currently I have it in a plastic tub under LEDs which I keep sealed to maintain humidity (in a mixture of live sphagnum and long-fibered sphagnum.
Typically, moist but not soaking wet is ideal. Many (most?) people are afraid of drying out or don't have the time to keep the media in these conditions so they keep the pot sitting in water. Depending on the other environmental conditions, this may work (or may not). The differences seem to be whether the media goes anaerobic or manages to stay aerobic. U. alpina is probably the most tolerant in the 'true' Orchidioides (not Iperua) of poor conditions so you may get lucky.
RL7836 is a wizard when it comes to sect. Orchidioides utrics so definitely listen to his advice!
As mentioned U. alpina is an epiphytic species that really does not appreciate the super wet, peaty mixes most terrestrial Utricularia are grown in. The standard prescription tends to be live sphagnum or some mix of long-fiber sphagnum (I use 1:1 with perlite) though I've seen it grown in other mixes. Like others in the section it doesn't like hot temps, so you'll probably want to keep it as an intermediate or highlander.