Best cryptocurrency exchanges South Africa 2021
          

Digital assets are on the rise

Before 2009, no one had heard of cryptocurrencies. But with the invention of Bitcoin, thousands of new electronic currencies have emerged, so the choice is really huge. Logically, this new type of money immediately created a great interest in making cryptocurrencies a powerful trading tool. And this was especially justified by the high volatility.

In the beginning, you could find very different prices for the same cryptocurrency, including Bitcoin. And since these new coins existed only electronically, they had no directly assigned value. All this led to dramatic price fluctuations for all digital currencies in the first years of their existence. It is still not stable, but in recent years a clear trend has emerged.

Some currencies have proven to be so trustworthy that they have attracted the attention of traders. This is how cryptocurrencies found their way to exchanges, where they can be freely traded. The whole process was quite simple - traders exchanged one asset for another with the intention of holding it until its price rises. This popularity has led to the creation of many new exchanges around the world. And they all work by reacting quickly to any market changes.

What is a cryptocurrency exchange?

Before you compare the world's leading stock markets, you should understand how they work.

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

There is really nothing special about the way an exchange works. All you have to do is register on the platform of your choice and start trading. These websites connect real people who want to exchange their digital assets. All you have to do is enter the amount you want to sell or buy and start trading. You can then hold the funds you receive until their value increases and continue trading them.

Cryptocurrencies are traded like any other asset. There is a certain market value that largely depends on a number of external factors, mainly supply and demand. This can be explained by the fact that cryptocurrencies are completely unique and have no value in the real world.

In order to fund your account with a cryptocurrency exchange, you must have an active virtual wallet. This is a service that allows you to store your cryptocurrency funds. You will use your wallet address to transfer funds to your exchange account. Please check if the exchange in question accepts the coins you want to sell. Some exchanges offer their own built-in wallets that are well protected.

By funding your exchange account through your wallet, you can create a buy or sell order in the system. When another interested customer sees your offer and is satisfied with the rates and other details, you start the transaction. So the purpose of the exchange is to help people make mutually beneficial transactions. Please always check the exchange's requirements for such transactions, as they may vary slightly from site to site.

What influences the value of cryptocurrencies?

Digital assets are always very volatile and their value is difficult to predict.

Before you start actively trading on reputable cryptocurrency exchanges, you should learn more about cryptocurrencies and, in particular, 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 currency. This is the reason why Bitcoin is valued so high. This coin is already approaching its supply limit, so fluctuations are inevitable if no more coins are to circulate. At least, that is the view 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 that influences demand. It is important to take into account all the advantages that a particular coin offers, as well as the rules that apply to different currencies. If you know how much interest there is in a particular coin, you can predict approximately how much demand will affect 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 with certainty how regulation will limit the use of cryptocurrencies. Electronic coins may lose their current value. But the acceptance 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 factors are the most important.

Overview of the stock market

Nowadays, there are many cryptocurrency exchanges, and the average user often has trouble choosing one. Sometimes these services have similar offerings, but there are also differences. Therefore, it is important to know these nuances and understand how they differ when you want to trade cryptocurrencies.

The most important feature is the level of security that a particular exchange offers to its clients. This is very important when you are doing business in an online environment. Therefore, if you are looking for a reliable exchange, you should make sure that this is the most important criterion. A cryptocurrency exchange is your guide through the world of cryptocurrencies.

Coinbase

It is one of the largest exchanges. It was put into operation in 2012, shortly after Bitcoin was invented. It is based in the USA and operates according to all the rules required here. Once you sign up on 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 take advantage of advanced charting features and powerful indicators that allow you to spot even the smallest changes in the market. In addition, the service offers an extensive list of coins for trading. But it must be said that some of Coinbase's competitors have an even wider selection of cryptocurrencies. The exchange system is very user-friendly, and even a newbie will quickly learn how to navigate the site. When you use the exchange's cryptocurrency wallet, you can be sure that it is well protected against hackers. Overall, this cryptocurrency exchange offers a really profitable trading environment with all the features that a normal user needs in the process. It is especially recommended for those who are new to the cryptocurrency industry. Take a look at the main features:

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

Binance

This cryptocurrency platform was founded in 2017. Despite its youth, it has managed to attract many traders. This can be easily explained because the exchange offers more than 150 different cryptocurrencies to its clients. It is quite hard to find a service with such an impressive selection of cryptocurrency assets. Binance doesn't only work with digital money - it also accepts fiat money, even though cryptocurrencies still dominate. It also offers trading in its own token, BNB. Very quickly, the exchange reached a very high trading volume, which earned it its rightful place among the most influential cryptocurrency platforms on the global stage. And its flexible and affordable payment system has left its competitors far behind. In record time, the platform has managed to build a huge customer base, and new users are joining it every day.

When you register on the site, you can make a deposit in cryptocurrencies or fiat money. This feature makes the exchange accessible to literally everyone. The only downside you might notice is that the setup is a bit complicated. Newbies might find it a bit difficult to find their way around the website. Other than that, everything works flawlessly.

Available currencies                                     740 for fiat and crypto.
Fees and commissions A flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for transactions with a BNB token.
Portfolio The mobile app is called Trust Wallet.
Payments All basic methods are supported - bank transfer, bank cards, electronic payments.
Security The exchange has launched an exclusive monitoring system, CryptoSafeAlliance (CSA). It combines several services to increase the security of the platform.
Mobile applications Free app for iOS and Android.

Kraken

This exchange came to the market in 2011. The service has grown at an impressive pace and has become one of the leading exchanges on the market in just a few years. It remains popular with traders as it offers a good selection of altcoins and fiat currencies. While some other exchanges offer more choice, Kraken has other strengths that encourage customers to stay with Kraken.

Users appreciate this exchange for the many technical features that are essential for successful trading - comprehensive charting tools and margin trading. Advanced traders benefit greatly from these features. Novice traders may find it daunting at first, but with some effort, they too will master the interface. Once you have successfully completed your first trades, things will move faster.

Overall, this exchange offers everything a trader needs in everyday life. The only drawback worth mentioning is the insufficient choice of payment methods. So, before you decide to create an account on the site, you should check if you can deposit and withdraw your money freely. If you do not find the right option, you may not be comfortable working with this particular exchange.

Available currencies                                     8 Cryptocurrencies.
Fees and commissions For all transactions up to 50,000 units of this token, the seller charges a commission of 0.16% and the buyer 0.26%. For amounts over 50,000 of this coin the commission changes to 0.14% and 0.24% respectively.
Portfolio No wallet for cryptocurrencies.
Payments Only direct transactions from cryptocurrency wallets or bank transfers. Bank cards are not accepted on this platform.
Security Two-factor authentication; PGP encryption; the exchange also uses a global settings lock to prevent too frequent account changes.
Mobile applications Kraken Pro в Kraken Futures.

Bittrex

This exchange was launched in 2014. It was the time when cryptocurrencies found their way to the global financial market and became an interesting tool for trading. The founders got the job done right and offered a truly impressive selection of coins. This way, traders could easily diversify their trading portfolios to achieve better results. Moreover, the creators of the exchange have also set up a virtual wallet on their website, which allows users to store their funds safely on the platform. The website is quite secure as many security technologies have been implemented here to protect the clients.

Available currencies                                     Over 250 trading pairs.
Fees and commissions The exchange uses a flexible commission system, but there is a different commission for each coin.
Portfolio An online wallet for cryptocurrencies.
Payments Wallets for cryptocurrencies, bank cards and bank transfers.
Security About 80% of all funds are kept in cold storage; 2-function authentication; IP address verification based on email address when a user logs in with a new IP address; whitelisting of IP addresses.
Mobile applications Bittrex Global in the Bittrex app.

Bitmex

This exchange has accepted its first client in 2014. And it took only a few years before it attracted thousands of traders. This was mainly due to the tempting offers of margin trading. There was no other platform with such attractive terms for binary trading. In futures, for example, a trader could use leverage to multiply his profits significantly. At the same time, leverage is a delicate mechanism that always involves a high financial risk. Therefore, margin trading is suitable only for traders with sufficient market experience.

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

Available currencies                                     55+ Handelspaare.
Fees and commissions There is no fee for deposits and withdrawals. For all transactions you pay 0.075% of the total amount of the transaction.
Portfolio BitMex Online-Portfolio.
Payments The service only accepts wallets for cryptocurrencies.
Security Funds stored in cold wallets; two-factor authentication; registration via SMS; wallets with multiple signatures.
Mobile applications Bitmex mobile App.

Bitfinex

This exchange has been in operation since 2012 and is considered one of the first of its kind. Over the years, it has managed to grow and remain popular. A compelling feature of Bitfinex is margin trading. Many traders have been able to make steady profits with this feature. As mentioned earlier, you need to have some experience to use margin for your trades. Otherwise, there is a high risk that you will lose your investment.

Bitfinex does not have the largest selection of trading instruments on the market. But since 2015, the platform has accepted both cryptocurrencies and fiat assets, which has made it extremely popular among traders. With this feature, users from all over the world can easily use the exchange.

Available currencies                                   140 cryptocurrencies and more than 300 trading pairs.
Fees and commissions There is no fee for deposits and withdrawals. For all transactions in US dollars, there is a fee of 0.1%, with a minimum of $20. The fee for fiat money transactions is $60. For other transactions, the service charges 0.1% for the introducer and 0.2% for the acceptor.
Portfolio Three different portfolios are available - Margin, Exchange, Financial.
Payments The service accepts cryptocurrency wallets, bank cards and bank transfers.
Security 99.5% of all funds are stored in cold wallets. Several authentication steps are required to access this money, so it is secure.
Mobile applications Available.

Localbitcoins

It is another pioneer among cryptocurrency exchanges. Localbitcoins entered the market in 2012 and its main feature is that it originally started as a P2P (peer-to-peer) service and did not focus on trading volume.

The platform allows each trader to find a profitable offer and discuss bets with other participants until an agreement is reached. To facilitate trading, you can open an escrow account. The exchange has managed to create a really robust trading environment. Therefore, it is very popular, especially among newcomers to the industry. However, it should be noted that Localbitcoins operates at slightly higher prices than other similar sites.

Available currencies                                    Only Bitcoin is traded here.
Fees and commissions Buyers pay no commission, while sellers must pay 1% of the transaction amount.
Portfolio A cryptocurrency wallet for btc.
Payments Bank transfers, bank cards, electronic systems.
Security 2-function authentication; escrow account system.
Mobile applications Ni.

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 for trading in a highly secure environment. The service charges very low commissions and offers many benefits to its clients. For example, the higher your trading volume is, the lower the commission you will be charged.

Poloniex charges separate commissions for traders and brokers. This is done to encourage traders to open more positions, as brokers pay very low commissions for this. There are quite a few other benefits for traders registered with Poloniex, such as a chat box, analytics tools, a news feed and much more. The website has a very easy to navigate interface.

Available currencies                                     100+ currency pairs.
Fees and commissions All deposits are free of charge. Withdrawal fees are fixed for each coin. Fee breakdown for acceptors and performers.
Portfolio An online wallet for cryptocurrencies.
Payments The method of payment depends on the trafficker's country of residence.
Security 2-factor account authentication.
Mobile applications Available.

KuCoin

It is one of the youngest exchanges listed in Singapore in 2017. Despite its age, the platform was created by very experienced market participants. So, the service offers everything you need to trade cryptocurrencies successfully. Thanks to its cutting-edge features, it immediately became popular and attracted users from almost every country in the world.

One of the outstanding features is the high-end security system implemented by the exchange. It is comparable to the method used by the most prestigious banks. It uses high-level encryption and multi-level authentication. To date, not a single case of hacking has been reported on this platform. However, it is too early to judge the security of this exchange as it is not yet on 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 coin. A fixed fee of 0.10% is charged for all transactions.
Portfolio Available.
Payments All major payment channels are supported, including electronic systems.
Security 2-factor authentication from 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 goal in creating the platform was to make cryptocurrency trading accessible and easy for everyone. To this end, the founders created an easy-to-use website where even a complete beginner can easily find their way around. This approach has yielded good results, as the exchange has attracted more than a million users in just a few years.

Besides cryptocurrencies, you can also trade other instruments here, such as silver and gold. The platform offers automated tools that make trading cryptocurrencies very easy. Once you gain enough experience in this industry, you will be able to trade between digital assets and metals. The company has many partners around the world that offer additional earning opportunities. You can invest in your own exchange token and use it to minimize transaction fees.

Available currencies                                    30+ Cryptocurrencies.
Fees and commissions All deposit and withdrawal fees are fixed for each coin. The same approach works when trading cryptocurrencies.
Portfolio Bitpanda wallet for cryptocurrencies.
Payments Bank transfers, bank cards, electronic systems.
Security 2-factor authentication for each login. Cold storage of funds. Validation via email address.
Mobile applications Available.

Coinmama

Coinmama is another worthwhile source for trading cryptocurrencies. It was launched in 2013 when cryptocurrencies were making their way into the global financial system. You should not consider this platform as a currency exchange service. Technically, you buy and sell assets on the exchange itself.

The selection of cryptocurrency coins on this platform is not very large. If you buy bitcoins via credit card, be prepared for the fact that the amount you can buy is limited. And don't forget to check what commission will be charged for the amount you want to exchange. There are quite a few accepted payment options on the website. You'll also find good multilingual support, as the exchange is geared towards the global market. The only downside 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 A service fee is charged for the use of the bank card. Fixed fees for buying and selling cryptocurrencies.
Portfolio The wallet is not available.
Payments Bank transfers, bank cards, electronic systems, SEPA and SWIFT payments.
Security Trust Guard and Comodo synchronization technology.
Mobile applications Available.

Paxful

This exchange was founded in 2015 and is registered in the USA. Since its inception, the service has focused on a global audience and accepts clients from Europe and the US. The platform itself is quite straightforward, offering solid security and affordable rates. In other words, Paxful can be described as a P2P exchange. When you start here, you need to build your portfolio first. Before confirming a trade, you can look at other traders' portfolios and assess their reliability.

One of the biggest drawbacks of this service is that you can only trade in Bitcoin. In fact, you can use a whole range of currencies to pay with Bitcoin. But when it comes to selling transactions, you can only sell Bitcoins. There is a 1% fee for each sale, while purchases are free. The exchange supports multiple payment methods.

Available currencies                                    Bitcoin.
Fees and commissions A 1% fee is charged for each sale, while purchases are free of charge. Additional fees may apply depending on the payment method chosen.
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 located in Denmark. It was launched in 2013. The service was established to provide individuals with the widest possible choice of cryptocurrencies. The exchange currently 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 client can test the service for free. All client funds are protected by the most secure technology. The exchange allows you to trade in large volumes.

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

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

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

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