Best cryptocurrency exchange South Africa 2021
          

Digital assets are on an upward wave

Before 2009, no one had heard of cryptocurrencies. 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 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 one and the same cryptocurrency, including bitcoin. And because these new coins existed only in the electronic space, they had no directly assigned value. All this led to drastic price fluctuations for all digital coins in the first years of their existence. It is not yet stable, but a clear trend has emerged in recent years.

Some currencies have proven reliable enough to attract the attention of traders. Thus, cryptocurrencies made their way to an exchange where they could be freely traded. The whole process is quite simple - traders exchanged one asset for another with the intention of holding it until its price rose. The popularity of this 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. There are many platforms that accept both fiat currency and electronic coins. So you can buy and sell both fiat currency and cryptocurrencies, in any combination.

In fact, there is nothing special about the way exchanges work. 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. All you have to do is enter the amount you want to buy or sell and start trading. You can then hold the funds you receive until their value increases and then trade them again.

Cryptocurrencies are traded just like any other asset. There is a certain market value, which largely depends on a number of 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.

To deposit money into your cryptocurrency exchange account, you must have an active virtual wallet. This is a service for storing your cryptocurrency capital. You will use your wallet address to transfer money to your exchange account. Check to see if the exchange in question accepts the coins you will be selling. Some exchanges offer their own built-in wallets, which are well secured.

After you upgrade your trading account from your portfolio, you can create a buy or sell order in the system. When the other interested customer sees your offer and is satisfied with the rates and other details, you begin the transaction. Thus, the purpose of an exchange is to help people make mutually beneficial transactions. Always check what the exchange terms are for such transactions, as they can vary slightly from one site to another.

What affects the value of cryptocurrency?

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, and especially about what affects their value. It would be impossible to list all the factors, but here are the most important ones you should take into account.

  • 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 bitcoin 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 no more coins will come into circulation. At least, that's what the biggest bitcoin holders think.

  • 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 important to look at all the benefits of a particular coin, as well as the regulations for the different coins. When you know the level of interest in a particular coin, 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 relevant factors.

Trade Show Overview

Nowadays you can find many cryptocurrency exchanges, and it is often difficult for the average user to know which one to choose. Sometimes these services have similar offerings, yet there are differences. Therefore, it is important to know these nuances and understand how they differ, if you plan to start trading in cryptocurrencies.

The most important feature is the level of security that a particular exchange offers to its customers. This 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 cryptocurrency exchange is your guide in the world of cryptocurrencies.

Coinbase

It is one of the largest exchanges. It began operations in 2012, shortly after bitcoin was invented. 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 the standard account, while the pro account has many advantages. Pro account holders can use sophisticated charts and effective indicators to notice the slightest changes in the market. Moreover, the service offers an extensive list of coins to trade. But it should be mentioned that some of Coinbase's competitors have an even better variety of cryptocurrencies. The trading system is very user-friendly and even a beginner will quickly learn to navigate the site. If you plan to use the exchange's cryptocurrency wallet, you can rest assured that it is well protected against hacking. 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 cryptocurrency sphere. Take a look at 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 applies, 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, electronic services.
Safety Two-factor authentication; traffic encryption with SLL protocols; wallet is encrypted with AES-256 protocols; only 2% of customers' money is kept online and they are insured.
Mobile 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 can be 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 cryptocurrencies. Binance does not only work with digital currencies - it also accepts fiat currencies, although cryptocurrencies still dominate. It also offers trading in its own token - BNB. Very quickly, the exchange reached a very high trading volume, which rightfully allowed it to take its place among the most influential cryptocurrency platforms on the world stage. And its flexible and affordable fee system left the competition far behind. In record time, the platform has managed to build a huge customer base, with new users joining every day.

By registering on the site, you can deposit in cryptocurrencies or fiat currency. This feature makes the exchange accessible to literally anyone. The only drawback you may find here is the somewhat complicated setup. For beginners, navigating the site can be a bit difficult. Other than that, it works perfectly.

Available currencies                                    740 per fiat in crypto.
Fees and commissions Flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for transactions involving an NBB token.
Portfolio Mobile app - Trust Wallet.
Payments All major methods are supported - bank transfer, credit cards, electronic payments.
Safety The exchange has launched an exclusive surveillance system - CryptoSafeAlliance (CSA). It combines a range of services to enhance the security of the platform.
Mobile applications Free app for iOS and Android.

Kraken

This exchange entered the market in 2011. The service has grown at an impressive rate and in just a few years 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 multiple technical features that are essential for successful trading - extensive charting tools and margin trading. Advanced traders benefit greatly from these features. Beginners may find it difficult at first, but with a little effort even they can master the interface. After successful first trades, things will speed up.

In short, this exchange has everything a trader could need for his daily work. The only drawback that should be mentioned is the insufficient choice of payment methods. So, 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 do not 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 charges 0.16% and the buyer charges 0.26%. For amounts over 50,000 of a given token, the commission increases to 0.14% and 0.24%, respectively.
Portfolio No portfolio of cryptocurrencies.
Payments Only direct transactions from cryptocurrency 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 the settings to prevent changing accounts too often.
Mobile applications Kraken Pro and Kraken Futures.

Bittrex

This exchange started in 2014. This was the time when cryptocurrencies entered the global financial market and became an interesting tool to trade. The founders have done the job well, offering a truly impressive selection of coins. This makes it easy for traders to diversify their trading portfolios to get better results. Moreover, the makers of the exchange have also added a virtual wallet to their site, allowing users to safely store their money on the platform. The site is very reliable as a lot of protective technologies have been used for the safety of the customers.

Available currencies                                      Over 250 pairs of transactions.
Fees and commissions The exchange uses a flexible commission system, but different rates apply to each currency.
Portfolio Online crypto-portemonnee.
Payments Cryptocurrency wallets, bank cards and bank transfers.
Safety About 80% of all funds are kept in cold storage; 2-factor authentication; IP verification using the email address when a user logs in with a new IP address; IP whitelisting.
Mobile applications Bittrex Global in the Bittrex app.

Bitmex

This fair welcomed its first customer in 2014. And it only took a few years to attract thousands of traders. This was mainly due to the attractive offers for margin trading. There was no other platform with such attractive conditions for binary trading. In futures, for example, the trader could use leverage, which was a powerful way to multiply profits significantly. At the same time, leverage is a tricky mechanism that always involves 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 a perfect 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+ interchangeable pairs.
Fees and commissions There are no fees for deposits and withdrawals. For all transactions, users pay 0.075% on the total transaction amount.
Portfolio BitMex online portemonnee.
Payments The service only accepts wallets for cryptocurrency.
Safety Funds are kept on cold wallets; 2-factor authentication; SMS registration; multi-signature wallets.
Mobile applications Bitmex mobiele app.

Bitfinex

This fair has been operating since 2012 and is considered one of the first services of its kind. Over the years, it has managed to grow and remain popular. The winning feature of Bitfinex is margin trading. Many traders have managed to make a steady profit due to this feature. As already mentioned, you must have some experience to use margin in your trading. Otherwise, there is a high risk of losing your investment.

Bitfinex doesn't have the largest selection of trading instruments on the market. But the platform has been accepting cryptocurrencies 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% to the originator and 0.2% to the acceptor.
Portfolio Three different portfolios are available - Margin, Exchange, Financing.
Payments The service accepts cryptocurrency wallets, credit cards and bank transfers.
Safety 99.5% of all money is held in cold wallets; multi-step authentication is required to access this money, which is therefore securely protected.
Mobile 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. To facilitate the trading process, you can open an escrow account. The exchange has managed to create a truly reliable environment for trading. Therefore, it is very popular, especially among beginners in the industry. However, it should be mentioned 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 and sellers pay 1% of the negotiated amount.
Portfolio Encrypted wallet for btc.
Payments Bank transfers, bank cards, electronic systems.
Safety 2-factor authenticatie; systeem kont escrow.
Mobile applications Non.

Poloniex

The first transactions on this exchange were recorded in 2014. Since then, the platform has made great progress. It offers more than 100 cryptocurrency pairs to trade in a highly reliable environment. The service charges very low commissions and offers its customers many benefits. For example, the higher the trading volume, the lower the fees you will have to pay.

Poloniex has separate fees for taking and doing. This is to encourage traders to open more positions, as brokers pay a very low fee for doing so. There is a whole list of other benefits for registered traders on Poloniex - including chat boxes, analysis tools, 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 of charge. The withdrawal fee is determined on an item-by-item basis. Shared fee for takers and doers.
Portfolio Online crypto-portemonnee.
Payments Payment methods vary according to the seller's country of residence.
Safety 2-factor accountauthenticatie.
Mobile 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. Thus, 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 the winning features is the high-level security system implemented at the exchange. It can be compared to that of the most reputable banks. It uses high-level encryption and multi-step authentication. So far, there have been no cases of hacking on this platform. However, it is still too early to assess the security of this exchange, as it does not yet sufficiently exist in the market.

Available currencies                                     200 coins and 450 currency pairs.
Fees and commissions All deposits are free of charge. Withdrawal fees are determined for each individual coin. A fixed commission of 0.10% is charged for all transactions.
Portfolio Available.
Payments All major payment channels are supported, including electronic systems.
Safety 2-factor authenticatie przez Google.
Mobile 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 achieve this, the founders created an easy-to-use site that even a novice user could 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 automated tools that make trading cryptocurrencies much easier. Once you have gained enough experience in the industry, you can 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 your own exchange token and use it to minimize your operating costs.

Available currencies                                     30+ cryptocurrencies.
Fees and commissions All deposit and withdrawal fees are fixed per coin. The same approach works for cryptocurrency transactions.
Portfolio Bitpanda crypto-portemonee.
Payments Bank transfers, bank cards, electronic systems.
Safety 2-factor authentication for each connection. Cold storage of funds. Confirmation by email address.
Mobile applications Available.

Coinmama

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

The selection of cryptocurrencies is not very large on this platform. If you buy bitcoin with a credit card, be prepared for a limit on the amount you can buy. And don't forget to check what commission will be charged for the amount you want to trade. The site accepts plenty of payment channels. Moreover, you will find decent multilingual support, as the exchange is global in scope. The only drawback is that there is no wallet for cryptocurrencies on this platform. Otherwise, it is a good option for beginners.

Available currencies                                    10+ cryptocurrencies.
Fees and commissions There is a service charge for using a bank card. Flat fee for buying and selling cryptocurrencies.
Portfolio No handbag is available.
Payments Bank transfers, credit cards, electronic systems, SEPA and SWIFT payments.
Safety Technologie ochronne Trust Guard i Comodo.
Mobile applications Available.

Paxful

This exchange began serving traders in 2015 and was registered in the United States. Since its inception, the service has catered to a global audience, accepting customers 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 a portfolio. Before confirming a trade, you can look at the portfolios of other traders and assess their reliability.

One of the biggest drawbacks of this service is that it only allows you to exchange bitcoin. 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. A 1% fee is charged on each sale, while purchases are free. The exchange supports a wide range of payment methods.

Available currencies                                     Bitcoin.
Fees and commissions A 1% commission is charged on all sales, while purchases are free. An additional commission may be charged depending on the payment method chosen.
Portfolio Paxful portfolio application.
Payments All known payment methods are supported.
Safety Mandatory authentication procedure; 2-factor authentication.
Mobile applications Paxful portfolio application.

HitBTC

This scholarship is based in Denmark. It was launched in 2013. The service was created with the aim of providing individuals with the widest possible choice of cryptocurrencies. Currently, the exchange offers more than 800 currency pairs. You will be able to 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, so any new client can 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. You can only trade in cryptocurrencies there. However, 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 higher commissions.

Available currencies                                      800 casting apare.
Fees and commissions All deposits are free of charge. Withdrawal fees are set separately for each coin. Multi-level trading system.
Portfolio No portfolio of cryptocurrencies.
Payments Only cryptocurrencies are accepted.
Safety 2-factor authentication; high-level encryption technology.
Mobile applications Non.

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.

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