Best cryptocurrency exchanges South Africa 2021
          

Digital assets are on an upward wave

Before 2009, no one had ever heard of cryptocurrencies. But the invention of bitcoin gave rise to thousands of new electronic currencies, making the choice really huge. Logically, this new kind of money immediately aroused a lot of interest to make cryptocurrency a powerful trading instrument. And this is mainly because of its high volatility.

In the early days, you could find very different prices for the same cryptocurrency, including bitcoin. And since these new currencies only existed in the electronic space, they had no directly assigned value. All this led to drastic price fluctuations for all digital currencies in their early years. It's still not stable, but there is a clear trend over the past few years.

Some coins have proven to be so reliable that they have attracted the attention of traders. This is how cryptocurrencies entered the exchanges, where they can be freely traded. The whole process was quite simple - traders exchanged one asset for another to hold the asset until its price increased. The popularity of this activity has led to the creation of many new exchanges around the world. And they all work quickly, responding to all market changes.

What is a cryptocurrency exchange?

Before you compare the best stock exchanges in the world, you need to understand how they work.

A cryptocurrency exchange is a service that allows you to trade cryptocurrencies. Many platforms accept both fiat money and cryptocurrencies. So you can sell and buy both fiat and cryptocurrencies in any combination.

There is really nothing special about the way the exchange works. 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 sell or buy and start trading. You can keep the received funds until their value increases and trade them later.

Cryptocurrencies are traded like any other asset. There is a certain market value that is strongly influenced by many external factors, the main ones being supply and demand. This can be explained by the fact that cryptocurrencies are completely unique and have no real value.

To fund your account on a cryptocurrency exchange, you must have an active virtual wallet. This is a service for storing your cryptocurrency capital. You will use your wallet address to transfer funds to your exchange account. Please check if the exchange in question accepts the coins you wish to sell. Some exchanges offer their own built-in wallets that are well protected.

Once your currency account is funded from your wallet, you can create a buy or sell order on the system. When the next interested customer sees your offer and is satisfied with the fees and other details, then you initiate the transaction. So the purpose of the exchange is to help people make mutually beneficial transactions. Please always check the requirements of the exchange for such transactions as they may vary slightly from one party to another.

What affects the value of cryptocurrencies?

Digital assets are always very volatile and difficult to predict.

Before you start actively trading on reputable cryptocurrency exchanges, it is imperative that you 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 to 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 bitcoin can be mined. This number is nothing when it comes to any currency. This is the reason why bitcoin is so highly valued. The currency is already approaching its supply limit, so fluctuations are inevitable when no more coins are expected to be in circulation. At least that's what major bitcoin holders believe.

  • 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 very important to consider all the benefits that a currency offers, as well as the rules that apply to different currencies. When you know the level of interest in a currency, you can roughly predict how much demand affects 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 regulations will limit the use of cryptocurrencies. Cryptocurrencies may lose their current value. But cryptocurrency adoption is inevitable, and its value will be affected.

  • 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 complete, but these factors are the most important.

Stock market overview

There are many cryptocurrency exchanges available today and the average user often finds it difficult to decide which one to choose. Sometimes these services may have similar offerings, but there are also differences. Therefore, it is important to know these nuances and understand how they differ if you intend to exchange cryptocurrencies.

The most important feature is the level of security that a particular exchange provides to its customers. This is important when you are transacting in an online environment. So, if you are looking for a reliable exchange, make sure that this is the number one criterion. A cryptocurrency exchange is your guide to the world of cryptocurrencies.

Coinbase

It is one of the largest exchanges. It started operations in 2012, shortly after the invention of Bitcoin. It is based in the US and operates under all the regulations required here. When 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 benefits. Pro account holders can enjoy advanced charting features and powerful indicators to detect even the smallest changes in the market. Besides, the service offers an extensive list of currencies to trade. But you have to admit that some of Coinbase's competitors have an even better selection of cryptocurrencies. The exchange system is very easy to use and even a novice will quickly learn how to navigate the site. If you are going to use the exchange's cryptocurrency wallet, you can rest assured that it is well protected against hacking. Overall, this cryptocurrency exchange offers a really favorable trading environment with all the features that a regular user may need in the process. It is especially recommended for cryptocurrency newcomers. Take a look at the main features:

Available currencies                                     23 coins.
Fees and commissions For all transactions up to $10, you pay $0.00; for transactions from $10 to $25, you pay $1.49; for transactions from $25 to $50, you pay $1.99; for transactions from $50 to $200, you pay $2.99. And for higher amounts, depending on the method of payment, you are charged a flat rate of interest.
Portfolio Free online wallet compatible with mobile devices.
Payments All major payment methods - bank card, bank transfer, e-services.
Security Two-factor authentication; traffic encryption using SLL protocols; wallet is encrypted using AES-256 protocol; only 2% of client funds are stored online and are secured.
Mobile applications For iOS and Android.

Binance

This cryptocurrency platform was founded in 2017. Despite its youth, it 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 works not only with digital money - it also accepts fiat money, even if cryptocurrencies still dominate. It also has its own trading symbol, BNB. Very quickly, the exchange reached a very high trading volume, which secured its place among the most influential cryptocurrency platforms on the global stage. And its flexible and affordable fee system has left the competition far behind. The platform managed to build a huge customer base in record time, with new users arriving every day.

By registering on the website, you can make a deposit in cryptocurrency or fiat money. This feature makes the exchange accessible to literally anyone. The only downside you may encounter is the somewhat complicated setup. For a newbie, navigating the site can be a bit difficult. Other than that, everything works well.

Available currencies                                    740 pairs of fiat currencies and cryptocurrencies.
Fees and commissions Flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for BNB token transactions.
Portfolio The mobile app is a Trusted Wallet.
Payments All basic methods are supported - bank transfer, bank cards, e-payments.
Security The exchange has launched a unique monitoring system - CryptoSafeAlliance (CSA). It combines a range of services to enhance platform security.
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 among traders because it offers a good selection of both altcoins and fiat currencies. Even though some other exchanges have a larger selection, Kraken has other advantages that encourage customers to stay with it.

Users appreciate this exchange for its many technical features that are essential for successful trading - comprehensive charting tools and margin trading. Advanced traders benefit greatly from these features. Beginners may find it challenging at first, but with a little effort, they too can master the interface. After successfully executing the first few trades, things will go faster.

In short, this exchange has everything a trader might need in his daily life. The only drawback that needs to be mentioned is the insufficient choice of payment methods. Therefore, before you decide to create an account on the site, make sure that you will be able to deposit and withdraw your funds freely. If you do not find the option that you are looking for, you may not feel comfortable working with this particular exchange.

Available currencies 8 cryptocurrencies.
Fees and commissions                                    For all transactions up to 50,000 specified tokens, the seller is charged 0.16% and the buyer 0.26%. For amounts above 50,000 specified tokens, the rate changes to 0.14% and 0.24% respectively.
Portfolio No wallet for cryptocurrencies.
Payments Direct cryptocurrency transactions or bank transfers only. Bank cards are not accepted on this platform.
Security 2-factor authentication; PGP encryption; the exchange also uses a global settings lock to prevent accounts from changing too frequently.
Mobile applications Kraken Pro in Kraken Futures.

Bittrex

This exchange was launched in 2014. It was the time when cryptocurrencies entered the global financial market and became an interesting tool for trading. Its founders took the right approach by offering a really impressive selection of coins. Thus, traders can easily diversify their trading portfolios for better results. Apart from this, the creators of the exchange have added a virtual wallet to their site so that users can safely store their funds on the platform. The site is quite reliable as many security technologies have been implemented here for the safety of the customers.

Available currencies                                    More than 250 trading pairs.
Fees and commissions The exchange uses a flexible commission system, but there is a different commission for each currency.
Portfolio Online cryptocurrency wallet.
Cryptocurrencies, bank cards and wire transfers.
Security Approximately 80% of all funds are refrigerated; 2-factor authentication; IP address verification based on email address when user logs in using a new IP address; IP address whitelisting.
Mobile applications Bittrex Global and the Bittrex app.

Bitmex

This exchange welcomed its first customer back in 2014. And it only took a few years to attract thousands of traders. This was mainly due to their tempting margin trading offers. There was no other platform with such attractive requirements for binary trading. For example, with futures, a trader could use leverage, which was a powerful way to multiply profits significantly. However, leverage is a complicated mechanism that always involves high financial risk. Therefore, margin trading is recommended only for traders with sufficient market experience.

Bitmex is a reliable platform. The registration process is more than simple. It is a great compromise between ease of use and many additional features. Traders continue to join the exchange with the intention of taking advantage of margin trading.

Available currencies                                    55+ trading pairs.
Fees and commissions No fees are charged for deposits and withdrawals. Users pay for all transactions 0.075% on the total transaction amount.
Portfolio BitMex Online Wallet.
Payments The service only accepts cryptocurrencies.
Security Funds stored in cold wallets; 2-factor authentication; SMS registration; Multi-signature wallets.
Mobile applications Bitmex mobile app.

Bitfinex

This exchange has been around since 2012 and is considered to be one of the first of its kind. Through all these years, it has managed to grow and remain popular. The winning feature of Bitfinex is margin trading. Many traders have managed to make consistent profits with this feature. As mentioned earlier, to use margin trading, you need to have some experience. Otherwise, there is a high risk of losing your investment.

Bitfinex doesn't have the widest selection of trading instruments on the market. But the platform has been accepting both cryptocurrencies and fiat assets since 2015, which has made it extremely popular among traders. With this feature, users from all over the world can use the exchange without any problems.

Available currencies                                    140 cryptocurrencies and over 300 trading pairs.
Fees and commissions No fees are charged for deposits or withdrawals. There is a 0.1% fee for all US dollar transactions, but no less than $20. The fee for fiat money transactions is $60. Other transactions are charged 0.1% to the originator and 0.2% to the recipient.
Portfolio There are three different portfolios available - Margin, Swap, Financial.
Payments The service accepts cryptocurrencies, bank cards and wire transfers.
Security 99.5% of all funds are stored in cold wallets; several authentication steps are required to get to that money, so it's safe.
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.

The platform allows any trader to find a favorable offer and discuss bets with other participants until an agreement is reached. To facilitate the trading process, you can open a margin account. The exchange has managed to create a really robust trading environment. Therefore, it is quite popular, especially among those who are new to the industry. However, keep in mind that Localbitcoins operates on slightly higher fees than other similar services.

Available currencies                                     Only bitcoin is traded here.
Fees and commissions Buyers pay no commission, while sellers are charged 1% of the turnover amount.
Portfolio Cryptocurrency wallet for btc.
Payments Wire transfers, bank cards, electronic systems.
Security 2-factor authentication; system kont escrow.
Mobile applications Nie.

Poloniex

The first transactions on this exchange were registered in 2014. Since then, the platform has developed quite successfully. It offers more than 100 cryptocurrency pairs to trade in a very secure environment. The service charges very low commissions and offers many benefits to its customers. For example, the higher your volume, the lower the commission.

Poloniex uses separate commissions for buyers and producers. This is to encourage traders to open more positions, as the makers pay a very small commission for this. For registered traders on Poloniex, there is a whole list of other benefits such as chat, analytical tools, news and much more. The site has a very easy to navigate interface.

Available currencies                                    Over 100 currency pairs.
Fees and commissions All deposits are free of charge. Withdrawal fees are fixed for each specific currency. Separate commissions for acceptance and execution.
Portfolio Online cryptocurrency wallet.
Payments Payment methods vary depending on the country where the seller lives.
Security 2-function account authentication.
Mobile applications Available.

KuCoin

It is one of the youngest listed exchanges in Singapore in 2017. Despite its age, the platform was created by very experienced market participants. Thus, the service has everything needed for successful cryptocurrency trading. With its state-of-the-art features, it immediately gained popularity and attracted users from almost every country in the world.

One of the winning features is the high level of security system implemented at the exchange. It can be compared to that used by the most reputable banks. It uses high-level encryption and multi-pass authentication. So far, there has not been a single case of hacking on this platform. But it is too early to evaluate the security of this exchange due to its non-existence in the market.

Available currencies                                     200 tokens and 450 currency pairs.
Fees and commissions All deposits are free of charge. Withdrawal fees are fixed for each specific currency. All transactions are subject to a flat fee of 0.10%.
Portfolio Available.
Payments All major payment channels are supported, including electronic systems.
Security 2-factor authentication od Google.
Mobile applications Available.

Bitpanda

The exchange was originally known as Coinimal. This Austrian service was launched in 2014. But some time later, it was rebranded as Bitpanda. The goal of the platform was to make cryptocurrency trading accessible and easy for everyone. To this end, the founders created an easy-to-use website that even a novice user would navigate effortlessly. This approach has worked well, as the exchange has attracted over a million users in just a few years.

Apart from cryptocurrencies, you can also trade other instruments such as silver and gold here. The platform offers automated tools that make cryptocurrency trading much easier. Once you have gained enough experience in this industry, you can trade between digital goods and metals. The company has many affiliates around the world that offer additional opportunities to earn. You can invest in your own trading token and use it to minimize transaction fees.

Available currencies                                      More than 30 cryptocurrencies.
Fees and commissions All deposit and withdrawal fees are fixed per currency. The same approach works for cryptocurrency trading.
Portfolio Bitpanda cryptocurrency wallet.
Payments Wire transfers, bank cards, electronic systems.
Security Two-factor authentication at every login. Cold storage of funds. Validation by email address.
Mobile applications Available.

Coinmama

Coinmama is another decent source for trading cryptocurrencies. It was launched in 2013 when cryptocurrencies entered the global financial system. You should not consider the platform as a currency exchange service. Technically, you are buying and selling assets on the exchange itself.

The choice of cryptocurrencies on this platform is not that wide. When buying bitcoin with a credit card, be prepared that there is a limit to the amount you can buy. Also, do not forget to check what commission will be charged on the amount you want to exchange. The site accepts enough payment channels. You will also find decent multilingual support since the exchange is geared towards the global market. The only drawback is that there is no cryptocurrency wallet on this platform. Otherwise, this is a good option for beginners.

Available currencies                                   More than 10 cryptocurrencies.
Fees and commissions There is a service fee for using a bank card. Fixed fees for selling and buying cryptocurrencies.
Portfolio No wallet.
Payments Wire transfers, bank cards, electronic systems, SEPA and SWIFT payments.
Security Trust Guard and Comodo security technology.
Mobile applications Available.

Paxful

This exchange started serving traders in 2015 and was registered 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 solid security and affordable pricing. In other words, Paxful can be called a P2P exchange. If you start here, you need to build your portfolio. Before confirming a trade, you can review other traders' portfolios and assess their reliability.

One of the biggest drawbacks of this service is that it only allows you to trade in bitcoin. In fact, you can use the entire list of currencies to pay with bitcoin. But when it comes to selling transaction, you can only sell bitcoins. A commission of 1% is charged on all sales, while purchases are free. The exchange supports multiple payment methods.

Available currencies                                     Bitcoin.
Fees and commissions A 1% commission is charged on each sale, while purchases are free. Additional commissions may be charged depending on the payment method selected.
Portfolio Paxful wallet app.
Payments All known payment methods are supported.
Security Mandatory verification procedure; 2-factor authentication.
Mobile applications Paxful wallet app.

HitBTC

This exchange is based in Denmark. It was launched in 2013. It was created to offer individuals the widest possible selection of cryptocurrencies. Currently, the exchange offers more than 800 trading pairs. Even the rarest coins can be found on this platform. This approach is a great way for users to diversify their investment portfolio. HitBTC offers a demo account so that any new customer can test the service for free. All client funds are protected with the most secure technology. The exchange allows you to trade large volumes.

The disadvantage of the platform is that it does not accept fiat money. Here you can only trade in cryptocurrencies. However, to overcome this drawback, the exchange has added a special built-in system where you can buy digital coins and pay with your bank card. But in this case, you will have to pay higher commissions.

Available currencies                                       800 commercial pairs.
Fees and commissions All deposits are free of charge. Withdrawal fees are fixed for each specific currency. Multi-level trading system.
Portfolio No wallet for cryptocurrencies.
Payments Only cryptocurrencies are accepted.
Security 2-factor authentication; high level encryption technology.
Mobile applications Nie.

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

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