Best cryptocurrency exchange South Africa 2021
          

Digital assets are on the rise

No one had heard of cryptocurrencies before 2009. But the invention of bitcoin spurred the creation of thousands of new electronic currencies, making the choice truly enormous. Logically, this new type of currency immediately generated a lot of interest in making cryptocurrencies a powerful trading tool. And this was mainly motivated by its high volatility.

In the beginning, 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. This led to drastic fluctuations in the price of all digital currencies in the first years of their existence. It is not yet stable, but in recent years there is a clear trend.

Some currencies proved reliable enough to attract the attention of traders. Thus, cryptocurrencies found their way to an exchange, where they could be freely traded. The process was quite simple: traders exchanged one asset for another with the intention of keeping it until its price rose. 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 cryptocurrency 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 trade cryptocurrencies. Many platforms accept both fiat currency and electronic currency. So you can buy and sell both fiat currency and cryptocurrencies, in any combination.

In fact, there is nothing special about the way the exchange works. All you have to do is register with 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. You can then hold the funds you receive until they increase in value and continue trading.

Cryptocurrencies are traded in the same way as other assets. 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 rather unique and have no value in the real world.

To deposit your account on a crypto-currency exchange, you must have an active virtual wallet. This is a storage service for your cryptocurrency. It will use the wallet address to send money to the exchange's account. Find out if a particular exchange accepts the coins you are about to sell. Some exchanges offer their own built-in wallets, which are well secured.

Once you have upgraded your trading account with the portfolio, you can create a buy or sell order in the system. Once the other interested customer has seen your offer and is satisfied with the rates and other details, the transaction is initiated. Thus, the purpose of the exchange is to help people make mutually beneficial deals. Always check what the exchange terms are for this type of transaction, as they can vary slightly from one site to another.

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 Bitcoin is so valuable. The currency is already approaching its inventory limit, so fluctuations are inevitable when there are no more coins in circulation. At least that is the opinion of the major Bitcoin holders.

  • 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 affecting demand. It is essential that you take into account all the advantages that a particular currency offers, 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. Electronic currencies 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 crypto exchanges, and an average user often finds it difficult to know which one to choose. Sometimes these services can offer similar deals, but there are still differences. Therefore, it is important to know these nuances and understand how they differ, if you are planning to trade in cryptocurrencies.

The most important feature is the level of security that a particular exchange offers its customers. This is crucial when you are transacting in an on-line environment. So when you are looking for a reliable exchange, you need to make sure that this criterion is number one. A crypto currency exchange is your guide in the world of crypto currencies.

Coinbase

It is one of the largest exchanges. It began operations in 2012, shortly after the invention of bitcoin. It is based in the United States and operates according to all the regulations required here. Once you join 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 selection of cryptocurrencies. The trading system is very easy to use, and even a beginner will quickly learn to navigate the site. If you plan to use the exchange's cryptocurrency wallet, you can be sure 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 may need in the working process. It is especially recommended for newcomers to the crypto-currency sphere. Check out the main features:

Coins available                                 23 pieces.
Fees and commissions You pay $0.00 for all transactions under $10; you pay $1.49 for transactions between $10 and $25; you pay $1.99 for transactions between $25 and $50; you pay $2.99 for transactions between $50 and $200. And for larger amounts, a fixed interest rate is applied, depending on the payment method.
Wallet A free online portfolio that is compatible with mobile devices.
Payments All major payment methods - credit card, bank transfer, electronic services.
Safety Two-factor authentication; traffic encryption with SLL protocols; wallet is encrypted with AES-256 protocol; only 2% of customer money is kept online and those are secure.
Cell phone applications For iOS and Android.

Binance

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 that offers such an impressive selection of crypto-currencies. Binance does not only work with digital currencies - it also accepts fiat currencies, although cryptocurrencies still dominate. It also offers the ability to trade with 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 cryptocurrency platforms worldwide on its own. And a flexible and affordable fee system left its competitors far behind. In record time, the platform has managed to build a huge customer base, with new users joining the service every day.

By registering on the site, you can make a deposit in crypto or fiat currency. This feature makes the exchange accessible to literally anyone. The only drawback you may find 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.

Coins available                                 740 fiat in crypto paren.
Fees and commissions A flexible and competitive commission system. You pay 0.01% for a transaction and only 0.075% for transactions with the NBB token.
Wallet Application mobile - Trust Wallet.
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.
Cell phone applications A free application for iOS and Android.

Kraken

This exchange entered the market in 2011. The service has grown at an impressive rate and within a few years it has become 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. Although 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 essential for successful trading activities: comprehensive charting tools and margin trading. Advanced traders benefit greatly from these features. Beginners may find it difficult at first, but with some effort even they can master the interface. Once they are successful with their first trades, things will speed up.

In short, this exchange has everything a trader needs for his daily transactions. The only downside that should be mentioned is the inadequate choice of payment methods. So before you decide to open an account on the site, check whether you will be able to deposit and withdraw your money freely. If you do not find the desired option, then you may not want to work with this particular exchange.

Coins available                                 8 cryptocurrency.
Fees and commissions For all transactions up to 50,000 of any given currency, the seller is charged 0.16% and the buyer is charged 0.26%. For amounts over 50,000 of any given currency, the commission increases to 0.14% and 0.24%, respectively.
Wallet There is no wallet for cryptocurrencies.
Payments Transactions can only be made directly from crypto wallets or via bank transfer. Credit cards are not accepted on this platform.
Safety 2-factor authentication; PGP encryption; the exchange also uses global configuration locking to prevent excessive account changes.
Cell phone applications Kraken Pro y Kraken Futures.

Bittrex

This exchange started in 2014. This is the time 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 creators of the exchange have also added a virtual wallet to their service, which allows users to safely store their money on the platform. The site is very reliable, as many protective technologies have been applied for the safety of the customers.

Coins available                                   More than 250 transaction pairs.
Fees and commissions The exchange uses a flexible commission system, but there are different fees for each currency.
Wallet Online wallet for crypto currency.
Payments Portfolios for cryptocurrencies, bank cards and bank transfers.
Safety About 80% of all funds are stored cold; 2-factor authentication; IP verification by email address once the user registers via a new IP address; IP whitelisting.
Cell phone applications Bittrex Global and the Bittrex application.

Bitmex

The fair accepted its first customer in 2014. And it only took a few years to attract thousands of traders. This was mainly due to its enticing offers for margin trading. There was no other platform that offered such attractive terms for binary trading. In the case of futures contracts, for example, a trader can use leverage, which is a powerful method to multiply profits significantly. At the same time, leverage is a complicated mechanism that always comes with high financial risks. Therefore, margin trading is recommended only for traders with sufficient market experience.

Bitmex is a reliable platform. The subscription process is more than simple. It is an excellent compromise between ease of use and many additional features. Traders continue to join the exchange with the intention of enjoying the benefits of margin trading.

Coins available                                     More than 55 pairs of quotes.
Fees and commissions There are no fees for deposits and withdrawals. For all transactions, users pay 0.075% of the total transaction amount.
Wallet BitMex online portemonnee.
Payments The service only accepts wallets for cryptocurrencies.
Safety Funds are stored in cold portfolios; 2-factor authentication; SMS registration; multi-signature portfolios.
Cell phone applications Application mobile Bitmex.

Bitfinex

This fair has been in operation 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 already mentioned, you must have some experience to use margin for your trading. Otherwise, there is a high risk of losing your investments.

Bitfinex does not have the largest selection of trading instruments on the market. But the platform has been accepting both cryptoassets and fiat assets since 2015, which has made it wildly popular with traders. Thanks to this feature, users from all over the world can use the exchange without any problems.

Coins available                                     140 crypto-currencies and more than 300 trading pairs.
Fees and commissions No fees are charged for deposits and withdrawals. All USD transactions are charged 0.1%, but not less than USD 20. The transaction fee for fiat money is USD 60. For other transactions, the service charges 0.1% for the originator and 0.2% for the recipient.
Wallet Three different portfolios available - Margin, Scholarship, Financing.
Payments The service accepts wallets for cryptocurrencies, 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.
Cell phone applications Available.

Localbitcoins

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. That is why it is very popular, especially among beginners in the industry. However, it is important to note that Localbitcoins operates with slightly higher fees than other similar services.

Coins available                                  Here, only bitcoin is traded.
Fees and commissions Buyers pay no commission, while sellers must pay 1% of the amount traded.
Wallet Cryptocurrency wallet for btc.
Payments Bank transfers, bank cards, electronic systems.
Safety 2-factor authentication; system of blocked accounts.
Cell phone applications Non.

Poloniex

The first transactions on this exchange were recorded in 2014. Since then, the platform has come a long way. It offers more than 100 cryptovalue pairs to trade in a highly reliable environment. The service charges very low commissions and offers its customers many benefits. For example, the higher your trading volume, the lower the commission you will be charged.

Poloniex applies separate commissions for takers and makers. This is done to encourage traders to open more positions, as makers pay a very low fee for doing so. There is a whole list of other benefits for registered traders on Poloniex - these include chat boxes, analysis tools, a news feed and much more. The site has a very easy to navigate interface.

Coins available                                   More than 100 currency pairs.
Fees and commissions All deposits are free of charge. Withdrawal fees are set for each particular currency. Fees are split between borrowers and originators.
Wallet Online wallet for crypto currency.
Payments Payment methods vary according to the merchant's country of residence.
Safety 2-factor accountauthenticatie.
Cell phone applications Available.

KuCoin

It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform was created by highly experienced market players. As a result, the service has everything needed for successful cryptocurrency trading. Thanks to its modern features, it immediately gained popularity and attracted users from almost every country in the world.

One of its winning features is a high-quality protection system implemented in the stock market. It can be compared to that of the most reputable banks. Here, high degree encryption and multi-stage authentication are 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.

Coins available                                    200 cards in 450 currency pairs.
Fees and commissions All deposits are free of charge. Withdrawal fees are set for each particular currency. A flat fee of 0.10% is charged for all transactions.
Wallet Available.
Payments All major payment channels are supported, including electronic systems.
Safety Two-factor authentication from Google.
Cell phone applications Available.

Bitpanda

The exchange was originally 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 cryptocurrency trading accessible and easy for everyone. To this end, the founders created a user-friendly site that even a complete beginner could navigate effortlessly. This approach has worked well, as the exchange has attracted over a million users in just a few years.

Besides cryptocurrencies, you can also trade other instruments: silver and gold. The platform offers automated tools that make trading cryptocurrencies much easier. Once you have enough experience in the industry, you will be able to trade between digital assets and metals. The company has many affiliates around the world, which provide additional opportunities to make money. You can invest in the exchange's own token and use it to minimize your operating costs.

Coins available                                     More than 30 crypto-currencies.
Fees and commissions All deposit and withdrawal fees are set for each particular currency. The same approach works for trading crypto currencies.
Wallet Bitpanda wallet for crypto currency.
Payments Bank transfers, bank cards, electronic systems.
Safety 2-factor authentication for each connection. Cold storage of funds. Confirmation by email address.
Cell phone applications Available.

Coinmama

Coinmama is another decent source for cryptocurrency trading. It started its operations in 2013, when cryptocurrencies were firmly entering the global financial system. You should not treat the platform as an exchange service. Technically, you are buying and selling assets on the exchange itself.

The supply of cryptocurrencies on this platform is not very large. If you buy bitcoins using your credit card, be prepared that there is a limit to the amount you can buy. And don't forget to check what commission you will be charged for the amount you want to trade. There are plenty of payment channels accepted on the site. You will also find decent multilingual support, as the exchange is focused on the global market. The only drawback is that there is no wallet for cryptocurrencies on this platform. Otherwise, it is a good option for a beginner.

Coins available                                     More than 10 crypto-currencies.
Fees and commissions A service fee is charged for the use of a bank card. A flat fee applies to the sale and purchase of cryptocurrencies.
Wallet No portfolio available.
Payments Bank transfers, credit cards, electronic systems, SEPA and SWIFT payments.
Safety Trust Guard and Comodo protection technologies.
Cell phone applications Available.

Paxful

The exchange began serving traders in 2015, registering in the US. Since its inception, the service has targeted a global audience, accepting clients from Europe and the US. The platform itself is quite simple, with reliable protection and affordable fees. In other words, you could call Paxful a P2P exchange. When you start working here, you need to build your portfolio. You can check 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 trade with bitcoins. In fact, you can use a whole list of currencies to pay with 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 many payment methods.

Coins available                                     Bitcoin.
Fees and commissions A 1% commission is applied to all sales, while purchases are free. Additional fees may apply depending on the payment method chosen.
Wallet The Paxful portfolio application.
Payments All known payment methods are supported.
Safety Mandatory authentication procedure; 2-factor authentication.
Cell phone applications Paxful portfolio application.

HitBTC

This scholarship is based in Denmark. It was launched in 2013. The service was created to offer individuals the widest possible choice of cryptocurrencies. 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 client to test the service for free. All client 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 crypto-currencies can be traded here. But to overcome this drawback, the exchange has added a special built-in system, where you can buy digital coins and pay with a bank card. But in that case you will have to pay a higher fee.

Coins available                                     800 exchange rates.
Fees and commissions All deposits are free of charge. Withdrawal fees are set for each particular currency. Multi-level trading system.
Wallet There is no wallet for cryptocurrencies.
Payments Only cryptocurrencies are accepted.
Safety 2-factor authentication; high-level encryption technology.
Cell phone applications Non.

As you can see, the market is full of excellent bags. Now you need to analyze your needs and choose the one that best meets your expectations.

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