Best bitcoin exchange South Africa 2021
Digital assets are on the rise
Before 2009, no one had ever heard of cryptocurrencies. But the invention of bitcoin sparked the emergence of thousands of new electronic currencies, making the choice truly enormous. Logically, this new type of currency immediately generated great interest in making cryptocurrency a powerful trading tool. And this was mainly due to its high volatility.
In the early days, you could find very different prices for the same cryptocurrency, including bitcoin. And because these new currencies existed only in the electronic space, they had no directly assigned value. All this led to drastic price fluctuations for all digital coins during the first years of their existence. It is still not stable, but in recent years there is a clear trend.
Some coins proved to be reliable enough to attract the attention of traders. Thus, cryptocurrencies paved the way for an exchange, where they could be freely traded. The whole process is quite simple - traders exchange one asset for another with the intention of keeping it until its price rises. The popularity of these activities has led to the creation of many new exchanges around the world. And they all work quickly, reacting to any change in the market.
What is a Crypto Exchange?
Before comparing the best stock markets in the world, it is essential to understand how they work.
A cryptocurrency exchange is a service that allows you to exchange cryptocurrencies. There are many platforms that accept both fiat currency and cryptocurrencies. So you can buy and sell both fiat currency and cryptocurrencies, in any combination.
In fact, there is nothing special about doing the exchanges. All you have to do is register on the platform of your choice and start trading. These services connect real people who want to trade their digital assets. You just need to enter the amount you want to buy or sell and start the transaction. Then you can keep the funds you receive until their value increases and trade them again.
Cryptocurrencies are traded in the same way as any other asset. There is a certain market value, which is largely influenced by several external factors, the most important of which are supply and demand. One can explain that cryptocurrencies are quite unique and have no value in the real world.
In order to deposit your account on a cryptocurrency exchange, you must have an active virtual wallet. This is a storage service for your cryptocurrency. You will use the address of the wallet to send money to the exchange account. Find out if a particular exchange accepts the coins you will be selling. Some exchanges offer their own integrated wallets, which are well secured.
Once you have loaded your trading account from the portfolio, you can create a buy or sell order in the system. When the other interested client sees your offer and is satisfied with the fees and other details, you proceed with the transaction. Thus, the purpose of the exchange is to help people make mutually beneficial transactions. Always check what the trading conditions are for such transactions, as they may differ slightly on different sites.
What influences the value of cryptocurrencies?
Digital assets are always highly volatile and their value is difficult to predict.
Before you start actively trading on reputable cryptocurrency exchanges, you should first learn more about cryptocurrencies, especially what affects their value. It would be impossible to list all the factors, but here are the most important ones you should consider.
- Limited supply. This is one of the top factors that can affect the price of a particular coin. For example, bitcoin has a preset emission. So, in many cases, it is known in advance how many coins can be issued in total. Once the coin has limited supply, it becomes extremely difficult to get more coins when current circulation gets closer to the maximum.
For example, only 21 million bitcoins can be mined. This amount is really nothing when it comes to any currency. This is why the value of bitcoin is so high. The currency is already approaching its inventory limit, so fluctuations are inevitable when it is expected that there will be no more coins in circulation. At least, that is the opinion of the largest holders of bitcoin.
- Demand. It is another crucial factor that significantly influences the value of this or that cryptocurrency. The more customers want to purchase a certain coin, the higher the mark is reached if the supply does not grow. In cases when supply is not limited, there is an end limit which also influences the demand.
This is not the only factor that affects demand. It is crucial that you take into account all the advantages of a particular currency, as well as the regulations that apply to different currencies. Once you know the level of interest in a particular currency, you can predict the approximate impact of demand on its value.
- Regulations. There is no generally accepted cryptocurrency regulation in the world financial system. In some countries, there are restrictions at all, while in others, there are still disputes on how to monitor this relatively new type of money. Experts believe that once this question is solved, the value of digital money will substantially rise.
No one can say for sure how regulation will limit the use of cryptocurrencies. Cryptocurrencies may lose their current value. But the adoption of cryptocurrencies is inevitable, and will be reflected in their value.
- Media. All forms of mass media always have influence on the value of cryptocurrencies. Public reaction can seriously change the value of any coin. So any information can lead to unexpected jumps of cryptocurrency. All people follow major events today, and any breaking news immediately becomes an effective tool for price prediction.
This list is not exhaustive, but these are the most crucial factors.
Overview of exchanges
Nowadays you can find many cryptocurrency exchanges, and an average user often does not know which one to choose. Sometimes these services have similar offerings, but there are still differences. Therefore, it is important to know these nuances and understand how they differ if you are planning to exchange cryptocurrencies.
The most important feature is the level of security that a particular exchange offers its customers. It is crucial when you are trading in an online environment. So when you are looking for a reliable exchange, you should make sure that this is the first criterion. A crypto exchange is your guide in the crypto world.
It is one of the largest exchanges. It began operations in 2012, shortly after the invention of bitcoin. It is based in the US and operates according to all regulations required here. Once you log in to the platform, you can use one of two accounts - standard and pro. This exchange has high commissions for a standard account, while a pro account has many advantages. Pro account holders can benefit from advanced charting capabilities and effective indicators to notice the slightest changes in the market. In addition, the service offers an extensive list of currencies to trade. But it would be fair to mention that some of Coinbase's competitors have an even better variety of cryptocurrencies. The trading system is very easy to use, and even a beginner will quickly learn how to navigate the site. If you plan to use the exchange's cryptocurrency wallet, you can rest assured that it is well protected against hacks. Overall, this cryptocurrency exchange offers a truly beneficial trading environment with all the features that an average user might need in the working process. It is especially recommended for newcomers to the cryptocurrency sphere. Get to know its main features:
|Available currencies||23 pieces.|
|Fees and commissions||You pay $0.00 for any transaction under $10.00; you pay $1.49 for transactions between $10.00 and $25.00; you pay $1.99 for transactions between $25.00 and $50.00; you pay $2.99 for transactions between $50.00 and $200.00. And for larger amounts, a fixed interest rate is applied, depending on the payment method.|
|Portfolio||A free online portfolio that is compatible with mobile devices.|
|Payments||All major payment methods - credit card, bank transfer, e-services.|
|Safety||Two-factor authentication; traffic encryption with SLL protocols; wallet is encrypted with AES-256 protocol; only 2% of customers' money is kept online and those are insured.|
|Mobile applications||For iOS and Android.|
This cryptocurrency platform was founded in 2017. Despite its youthful age, it has managed to attract many traders. This is easily explained by one thing - the exchange offers its customers more than 150 different cryptocurrencies. It is quite difficult to find a service with such an impressive selection of crypto assets. Binance doesn't just work with digital currencies - it also accepts fiat currencies, although cryptocurrencies still dominate. It also offers to trade its own token - BNB. Very quickly, the exchange reached a very high trading volume, which allowed it to take its place among the most influential crypto platforms on the world stage. And a flexible and affordable fee system left its competitors far behind. In record time, the platform managed to build a huge customer base, with new users joining every day.
By registering on the site, you can make a deposit in cryptocurrency or fiat currency. This feature makes the exchange accessible to literally anyone. The only drawback you may encounter here is the somewhat complicated setup. It can be a bit difficult for a beginner to navigate through the service. Other than that, it works perfectly.
|Available currencies||740 fiat and cryptographic pairs.|
|Fees and commissions||A flexible and competitive commission system. You pay 0.01% for a transaction and only 0.075% for transactions involving the NBB token.|
|Portfolio||Mobile application - Trusted portfolio.|
|Payments||All major methods are supported - bank transfer, credit cards, electronic payments.|
|Safety||The exchange has launched a unique monitoring system - CryptoSafeAlliance (CSA). It combines a number of services designed to improve the security of the platform.|
|Mobile applications||A free app for iOS and Android.|
This exchange entered the market in 2011. The service grew at an impressive rate, and in just a few years it became one of the leading exchanges on the market. It remains very popular with traders because it offers a good selection of altcoins and fiat currencies. While other exchanges have a wider selection, Kraken has other strong features that encourage customers to stay with it.
Users appreciate this exchange for its many technical features that are vital for successful trading activities - extensive charting tools and margin trading. Advanced traders benefit greatly from these features. Beginners may find this difficult at first, but with some effort even they can master the interface. Once you have made your first successful trades, things will speed up.
All in all, this exchange has everything a trader might need for his daily routine. The only downside that should be mentioned is the inadequate choice of payment methods. Therefore, before you decide to open an account on the site, you should check whether you will be able to deposit and withdraw your money freely. If you cannot find the desired option, it may not be practical for you to work with this particular exchange.
|Available currencies||8 cryptocurrencies.|
|Fees and commissions||For all transactions up to 50,000 of a given token, the seller is charged 0.16% and the buyer is charged 0.26%. For amounts over 50,000 of a given token, the commission increases to 0.14% and 0.24% accordingly.|
|Portfolio||No wallet for cryptocurrency.|
|Payments||Only direct transactions from crypto wallets or bank transfer. Credit cards are not accepted on this platform.|
|Safety||2-factor authentication; PGP encryption; the exchange also uses a global lock for settings to prevent excessive changes to the account.|
|Mobile applications||Kraken Pro e Kraken Futures.|
This exchange started in 2014. This was the moment when cryptocurrencies made their appearance on the global financial market and became an interesting tool for trading. The founders tackled the task well, offering a truly impressive selection of coins. This allowed traders to easily diversify their trading portfolio for better results. Moreover, the makers of the exchange have also added a virtual wallet to their service, allowing users to safely store their money on the platform. The site is very reliable as there are many security technologies built in for the safety of the customers.
|Available currencies||Over 250 pairs of transactions.|
|Fees and commissions||The exchange uses a flexible commission system, but there are different fees for each currency.|
|Cryptocurrency wallets, bank cards and bank transfers.|
|Safety||About 80% of all funds are held in cold storage; 2-factor authentication; IP verification via email address when a user logs in via a new IP address; IP whitelisting.|
|Mobile applications||Bittrex Global and Bittrex app.|
This fair accepted its first customer in 2014. And it only took a few years to attract thousands of traders. This was mainly due to their attractive offers for margin trading. There was no other platform with such attractive terms for binary trading. For futures contracts, for example, a trader could use leverage, which was a powerful method to multiply profits significantly. At the same time, leverage is a complicated mechanism that always comes with a high financial risk. Therefore, margin trading is recommended only for traders with sufficient experience in the market.
Bitmex is a reliable platform. The enrollment process is more than simple. It is an excellent compromise between ease of use and a host of additional features. Traders continue to join the exchange with the intention of enjoying the benefits of margin trading.
|Available currencies||55+ pairs.|
|Fees and commissions||There are no fees for deposits and withdrawals. For all transactions, users pay 0.075% of the total transaction amount.|
|Portfolio||BitMex Online Portemonnee.|
|Payments||The service only accepts wallets for cryptocurrency.|
|Safety||Funds are stored in cold portfolios; 2-factor authentication; SMS registration; multi-signature portfolios.|
|Mobile applications||Bitmex mobile application.|
This exchange has been running since 2012 and is considered one of the first services of its kind. It has managed to grow and remain popular all these years. The winning feature of Bitfinex is margin trading. Many traders have been able to make a steady profit with this opportunity. As mentioned earlier, you must have some experience to use margin for your trading. Otherwise, there is a high risk of losing your investments.
Bitfinex doesn't have the largest selection of trading instruments on the market. But the platform has been accepting crypto and fiat assets since 2015, and this has made it wildly popular with traders. Thanks to this feature, users from all over the world can use the exchange without any problems.
|Available currencies||140 cryptocurrencies and more than 300 trading pairs.|
|Fees and commissions||There are no fees for deposits and withdrawals. All USD transactions are charged 0.1%, but not less than $20. The charge for cash transactions is $60. For other transactions, the service charges 0.1% for the originator and 0.2% for the borrower.|
|Portfolio||Three different portfolios are available - Margin, Exchange, Funding.|
|Payments||The service accepts cryptocurrency wallets, credit cards and bank transfers.|
|Safety||99.5% of all money is stored in cold wallets; multi-step authentication is required to access this money, which is therefore securely protected.|
It is another pioneer among cryptocurrency exchanges. Localbitcoins entered the market in 2012. Its main feature is that it originally started as a P2P (peer-to-peer) service and did not focus much on trading volume. Although the service is global, its customers have a local trading experience.
The platform allows each trader to find a favorable offer and discuss rates with other participants until an agreement is reached. You can open a deposit account to facilitate the trading process. The exchange has managed to create a truly reliable environment for trading. As a result, it is quite popular, especially among beginners in the industry. However, it is important to note that Localbitcoins operates with slightly higher fees than other similar services.
|Available currencies||Here, only bitcoin is traded.|
|Fees and commissions||Buyers pay no commission, while sellers must pay 1% of the amount traded.|
|Portfolio||Encrypted wallet for btc.|
|Payments||Bank transfers, bank cards, electronic systems.|
|Safety||2-factor authentication; system of blocked accounts.|
The first transactions on this exchange were recorded in 2014. Since then, the platform has made good progress. It offers more than 100 crypto pairs to trade in a very reliable environment. The service charges very low commissions and offers its clients many benefits. For example, the larger the volume you trade, the lower the fees you have to pay.
Poloniex has separate fees for buyers and makers. This is done to encourage traders to open more positions, as makers pay a very low fee to do so. There is a whole list of other benefits for traders registered with Poloniex - these include chat boxes, analysis tools, a news feed and much more. The site has a very easy to navigate interface.
|Available currencies||More than 100 currency pairs.|
|Fees and commissions||All deposits are free. Withdrawal fees are set for each individual piece. Separate fee for buyers and manufacturers.|
|Payments||Payment methods vary according to the merchant's country of residence.|
It is one of the youngest registered exchanges in Singapore in 2017. Despite its age, the platform was created by highly experienced market players. Thus, the service has everything needed for successful crypto trading. Thanks to its modern features, it immediately gained popularity and attracted users from almost every country in the world.
One of the winning features is a high-level security system applied to the stock market. It can be compared to that of the most reputable banks. A high level of encryption and multi-stage authentication is applied. So far, there have been no cases of hacking on this platform. But it is still too early to assess the security of this exchange, as it does not yet exist sufficiently in the market.
|Available currencies||200 coins and 450 currency pairs.|
|Fees and commissions||All deposits are free of charge. Withdrawal fees are set for each individual currency. A flat commission of 0.10% is charged for all transactions.|
|Payments||All major payment channels are supported, including electronic systems.|
|Safety||2-factor authentication by Google.|
Originally, the exchange was known as Coinimal. This Austrian service was launched in 2014. However, some time later it was renamed Bitpanda. The aim of the platform was to make crypto trading accessible and easy for every individual. To achieve this, the founders created a user-friendly website, on which even a complete beginner can navigate effortlessly. This approach has worked well, as the exchange has attracted over a million users in just a few years.
In addition to cryptocurrencies, you can trade other instruments - silver and gold. The platform offers automatic tools that make trading cryptocurrencies much easier. Once you have enough experience in the industry, you can trade between digital goods and metals. The company has many affiliates around the world that offer additional opportunities to make money. You can invest in the exchange's own token and use it to minimize your operating costs.
|Available currencies||30+ cryptocurrencies.|
|Fees and commissions||All deposit and withdrawal fees are set for each particular currency. The same approach works for cryptocurrency transactions.|
|Payments||Bank transfers, bank cards, electronic systems.|
|Safety||2-factor authentication for each connection. Cold storage of funds. Confirmation by email address.|
Coinmama is another decent source for crypto trading. It started its operations in 2013, when cryptocurrencies were firmly entering the global financial system. You should not treat the platform as a trading service. Technically, you are buying and selling assets on the exchange itself.
The selection of cryptocurrencies is not very large on this platform. When buying bitcoins through your credit card, be prepared for a limit to the amount you can buy. And don't forget to check what commission will be charged for the amount you wish to trade. There are plenty of payment channels accepted on the site. You can also find decent multilingual support, as the exchange is global in scope. The only downside is that there is no cryptocurrency wallet on this platform. Otherwise, it is a good option for a beginner.
|Available currencies||More than 10 cryptocurrencies.|
|Fees and commissions||A service fee is charged for the use of a bank card. A flat fee for buying and selling cryptocurrencies.|
|Portfolio||No scholarship available.|
|Payments||Bank transfers, credit cards, electronic systems, SEPA and SWIFT payments.|
|Safety||Trust Guard and Comodo protection technologies.|
This exchange began serving traders in 2015, it was registered in the United States. Since its inception, the service has catered to the global audience, accepting customers from Europe and the US. The platform itself is quite simple, with reliable protection and affordable rates. In other words, you could call Paxful a P2P exchange. When you start working here, you need to create your portfolio. You can view the portfolios of other traders and assess their reliability before confirming a trade.
One of the main flaws of this service is that it only allows you to exchange bitcoins. In fact, you can use a whole list of currencies to pay bitcoins. But when it comes to a sales transaction, you can only sell bitcoins. There is a 1% fee on all sales, while purchases are free. The exchange supports a wide range of payment methods.
|Fees and commissions||A 1% commission is applied to all sales, while purchases are free. Additional commission may apply depending on the payment method chosen.|
|Portfolio||The Paxful portfolio application.|
|Payments||All known payment methods are supported.|
|Safety||Mandatory authentication procedure; 2-factor authentication.|
|Mobile applications||Paxful portfolio application.|
This scholarship is based in Denmark. It was launched in 2013. The service was created to provide individuals with the widest possible choice of crypto currencies. Currently, the exchange offers more than 800 currency pairs. You can find even the rarest coins on this platform. This approach is an excellent way for users to diversify their investment portfolio. HitBTC offers a demo account that allows any new customer to test the service for free. All customer funds are protected by the most reliable technologies. The exchange allows you to trade large volumes.
The disadvantage of the platform is that it does not accept fiat currency. Only cryptocurrencies can be traded there. But to overcome this drawback, the exchange has added a special built-in system where you can buy digital currency and pay with a bank card. But in that case you will have to pay higher commissions.
|Available currencies||800 pairs of trading.|
|Fees and commissions||All deposits are free of charge. The withdrawal rate is set for each individual currency. Multi-level trading system.|
|Portfolio||No wallet for cryptocurrency.|
|Payments||Only cryptocurrencies are accepted.|
|Safety||2-factor authentication; high-level encryption technology.|
As you can see, the market is full of excellent exchanges. Now you need to analyze your needs and choose the one that best meets your expectations.