Best cryptocurrency trading platforms South Africa 2021
          

Best cryptocurrency trading platforms South Africa 2021

Digital assets are on the rise

Before 2009, no one had heard of cryptocurrencies. But the invention of Bitcoin kick-started the creation of thousands of new electronic currencies, making the choice truly enormous. Logically, this new type of currency immediately sparked a great deal of interest in turning cryptocurrencies into a powerful trading tool. This was mainly due to their 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 did not have a directly assigned value. All this led to drastic price fluctuations for all digital currencies in the first few years of their existence. It is still not stable, but a clear trend has emerged in recent years.

Some currencies proved reliable enough to attract the attention of traders. Thus, cryptocurrencies opened the way to an exchange where they could be freely traded. The whole process is quite simple: traders exchange one asset for another with the aim of holding it until its price rises. The popularity of this activity led to the emergence of a large number of new exchanges around the world. And all of them work quickly and respond to all market changes.

What is a cryptobag?

Before comparing the best stock exchanges in the world, it is important 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 buy and sell both fiat money and cryptocurrencies in any combination.

In fact, the trading performance is nothing special. All you have to do is to register on the desired platform and you can 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. After that, you can keep the funds you receive until they increase in value and trade them back.

Cryptocurrencies are traded in the same way as all other assets. There is a certain market value that is largely influenced by a number of external factors, the most important of which are supply and demand. It can be explained that cryptocurrencies are quite unique and have no value in the real world.

To deposit your account in a cryptocurrency exchange, you must have an active virtual wallet. This is a service that stores your cryptocapital. It will use the wallet address to send funds to the exchange account. Please check if a particular exchange accepts the coins you want to sell. Some exchanges offer their own integrated wallets, which are well protected.

Once you have loaded your trading account from the portfolio, you can create a buy or sell order in the system. Once the other interested customer sees your offer and is satisfied with the rates and other details, the transaction is initiated. The purpose of trading, then, is to help people conduct mutually beneficial transactions. Always check the trading conditions for this type of transaction, as they may differ slightly on different websites.

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 the well-known cryptocurrency exchanges, you should learn about cryptocurrencies, especially about what influences their value. It is 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 the reason why the value of Bitcoin is so high. This currency is already approaching its supply limit, so fluctuations are inevitable if more coins are not expected to circulate. This is at least the opinion of the largest 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 crucial that you take into account all the advantages of a particular currency, as well as the regulations that apply to different currencies. If you know the interest in a particular currency, you can roughly predict the degree of demand that 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 for sure how regulation will limit the use of cryptocurrencies. Electronic currencies may lose their current value. However, the introduction 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.

The list is not exhaustive, but these factors are the most important.

Trade review

Nowadays, there are many cryptocurrency exchanges and an average user often has a hard time knowing which one to choose. Sometimes, these services may have similar offerings, but differences remain. Therefore, it is important to know these nuances and understand how they differ if you plan to trade cryptocurrencies.

The most important feature is the level of security that a particular exchange offers its clients. This is crucial when trading 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 in the world of cryptocurrencies.

Coinbase

It is one of the largest exchanges. It started operating in 2012, shortly after the invention of Bitcoin. It is based in the United States and operates in accordance with all the regulations required here. Once you have joined 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 offers many benefits. Pro account holders can use advanced charting features and powerful indicators to detect the slightest changes in the market. In addition, the service offers an extensive list of parts that can be traded. However, it is 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 how to navigate the site. If you plan to use the exchange's cryptocurrency exchange, you can rest assured that it is well protected against hacker attacks. Overall, this cryptocurrency exchange offers a really favorable trading environment with all the features that an average user may need in the process of work. It is especially recommended for newcomers to the cryptocurrency sphere. Learn about the most important features:

Coins available                                   23 pieces.
Fees and commissions You will pay $0.00 for transactions under $10; $1.49 for transactions from $10 to $25; $1.99 for transactions from $25 to $50; $2.99 for transactions from $50 to $200. For higher amounts, a fixed interest rate is applied, depending on the method of payment.
Cartera A free online wallet compatible with mobile devices.
Payments All major payment methods: credit card, bank transfer, electronic services.
Security Two-factor authentication; encryption of data traffic with SLL protocols; the wallet is encrypted with AES-256 protocol; only 2% of client funds are kept online and these are secured.
Cell phone applications For iOS and Android.

Binance

This cryptocurrency platform was founded in 2017. Although it is still young, it has managed to attract many traders. This can be easily explained by one thing: the exchange offers more than 150 different cryptocurrencies to its customers. It is quite difficult to find a service with such an impressive selection of cryptoassets. Binance does not only work with digital money, it also accepts fiat money, although cryptocurrencies still dominate. It also offers the possibility to trade with its own token: BNB. Very quickly, the exchange reached a very high trading volume, which earned it a legitimate place among the most influential cryptocurrency platforms in the world. A flexible and affordable fee system left the competition far behind. In a very short time, the platform managed to build a huge customer base and new users are joining every day.

When you register on the website, you can make a deposit in crypto or cash. This feature makes trading literally accessible to everyone. The only drawback you may encounter here is the somewhat complicated setup. For a beginner, it can be a bit difficult to navigate the service. Otherwise, it works flawlessly.

Coins available                                    740 fiat and crypto pairs.
Fees and commissions A flexible and competitive commission system. It pays 0.01% for a transaction and only 0.075% for transactions with the NBB token.
Cartera Mobile application - Trusted Portfolio.
Payments All major methods are supported: bank transfer, bank cards, electronic payments.
Security The exchange has introduced a unique monitoring system: the CryptoSafeAlliance (CSA). It combines a variety of services to enhance the security of the platform.
Cell phone applications A free app for iOS and Android.

Kraken

This exchange was launched in 2011. The service has developed with impressive speed and in a few years has become one of the leading exchanges on the market. It remains very popular among traders as 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 stick with it.

Users highly appreciate this exchange because of the numerous technical possibilities 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 a little effort, even they can master the interface. Once you have successfully completed your first few trades, things will speed up.

In short, this exchange offers everything a trader needs for his daily needs. The only flaw is the insufficient choice of payment methods. Before you decide to open an account on the website, make sure that you can deposit and withdraw your money freely. If you do not find the option you want, you may not find it practical to work with this exchange.

Coins available                                      8 Cryptocurrencies.
Fees and commissions For all transactions up to 50,000 of a given token, the seller is charged 0.16% and the buyer 0.26%. For amounts above 50,000 of a given token, the commission increases to 0.14% and accordingly to 0.24%.
Cartera There is no cryptocurrency wallet.
Payments Only direct transactions from cryptocurrency wallets or bank transfers. Bank cards are not accepted on this platform.
Security 2-factor authentication; PGP encryption; the exchange also uses a global configuration lock to prevent too many changes being made to the account.
Cell phone applications Kraken Pro y Kraken Futuros.

Bittrex

This exchange was launched in 2014. It was then when cryptocurrencies made their way into the global financial market and became an interesting tool for trading. Its founders approached the task properly and offered a really impressive selection of coins. This allowed traders to easily diversify their trading portfolio for better results. In addition, the founders of the exchange have also added a virtual wallet to their service, which allows users to store their funds securely on the platform. The website is quite reliable as many protection technologies are used for the safety of customers.

Coins available                                      More than 250 pairs of transactions.
Fees and commissions The exchange uses a flexible commission system, but there are different rates for each piece.
Cartera Online cryptographic exchange.
Payments Cryptocurrency wallets, bank cards and bank transfers.
Security About 80% of all funds are cold-stored; 2-factor authentication; IP verification via email address when a user connects via a new IP address; IP whitelisting.
Cell phone applications Bittrex Global y Bittrex App.

Bitmex

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

Bitmex is a reliable platform. The registration process is more than simple. It is an excellent compromise between ease of use and a large number of additional options. Traders continue to flock to the exchange with the intention of taking advantage of margin trading.

Coins available                                       Exchange couples over 55 years old.
Fees and commissions No commissions are charged for deposits and withdrawals. For all transactions, users pay 0.075% of the total transaction amount.
Cartera BitMex-Wallet online.
Payments The service only accepts cryptocurrency wallets.
Security Funds are stored in cold wallets; 2-factor authentication; registration via SMS; multi-signature wallets.
Cell phone applications Bitmex mobile application.

Bitfinex

This exchange has been in operation since 2012 and is considered one of the first services of its kind. It has managed to develop and remain popular all these years. The successful feature of Bitfinex is margin trading. Many traders have been able to make a stable profit using this facility. As mentioned above, you need to have some experience to use margin in your trading. Otherwise, the risk of losing your investments is high.

Bitfinex does not have the largest selection of trading instruments on the market. But the platform has been accepting cryptoassets and fiat assets since 2015, which has made it very popular among traders. Thanks to this feature, users from all over the world can easily use the exchange.

Coins available                                    140 cryptocurrencies and more than 300 trading pairs.
Fees and commissions No fees are charged for deposits and withdrawals. All transactions in USD are charged a 0.1% fee, but not less than $20. The fee for cash transactions is $60. For all other transactions, the service charges 0.1% for the giver and 0.2% for the taker.
Cartera Three different portfolios are available: margin, swap and financing.
Payments The service accepts cryptocurrency wallets, credit cards and bank transfers.
Security 99.5% of all funds are stored in cold wallets; accessing this money requires multi-level authentication to keep it securely protected.
Cell phone applications Available.

Localbitcoins

This 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 operator to find a favorable offer and discuss rates with other participants until an agreement is reached. You can open an escrow account to facilitate the transaction process. The exchange has managed to create a truly reliable environment for transactions. As a result, 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                                    Only Bitcoin is traded here.
Fees and commissions Buyers pay no commission, while sellers receive 1% of the amount traded.
Cartera Encrypted wallet for btc.
Payments Bank transfers, bank cards, electronic systems.
Security 2-factor authentication; escrow account system.
Cell phone applications Do not.

Poloniex

The first transactions on this exchange were recorded in 2014. Since then, the platform has developed well. It offers more than 100 cryptocurrency pairs for trading in a very reliable environment. The service charges very low commissions and offers many advantages to its customers. The higher the trading volume, the lower the commissions you will have to pay.

Poloniex charges separate commissions for takers and makers. This is done to encourage traders to open more positions, as originators pay a very small commission for doing so. There are a whole host of other benefits for traders registered with Poloniex - these include discussion forums, analysis tools, a newsfeed and much more. The website has a very easy to navigate user interface.

Coins available                                    More than 100 currency pairs.
Fees and commissions All deposits are free of charge. Withdrawal fee is set for each individual coin. Shared fees for acceptors and producers.
Cartera Online cryptographic exchange.
Payments Payment methods differ depending on the country in which the merchant is located.
Security 2-factor account authentication.
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 very experienced market participants. Therefore, the service has everything necessary for successful cryptocurrency trading. Thanks to its modern features, it has immediately gained popularity and attracted users from almost all countries of the world.

One of the winning features is a high-level protection system established in the stock exchange. It is comparable to that used by the most prestigious banks. High-level encryption and multi-level authentication are applied. So far, there have been no cases of hacker attacks on this platform. However, it is too early to assess the security of this exchange, as it has not been on the market for long.

Coins available                                       200 chips and 450 currency pairs.
Fees and commissions All deposits are free of charge. The withdrawal rate is fixed for each currency. A fixed commission of 0.10% is charged for all transactions.
Cartera Available.
Payments All major payment channels are supported, including electronic systems.
Security Google 2-factor authentication.
Cell phone applications Available.

Bitpanda

Originally, the exchange was known as Coinimal. This Austrian service was launched in 2014. However, some time later it was renamed Bitpanda. The goal of the platform was to make cryptocurrency trading accessible and easy for everyone. To achieve this, the founders created a user-friendly site that even a complete beginner could navigate effortlessly. This approach worked well, as the exchange attracted more than a million users within a few years.

In addition to cryptocurrencies, you can also trade other instruments here: silver and gold. The platform offers automatic tools that facilitate cryptocurrency trading. Once you have enough experience in this sector, you can trade between digital assets and metals. The company has many branches all over the world, which offer additional opportunities to earn money. You can invest in the exchange's own token and use it to minimize your operating costs.

Coins available                                     More than 30 cryptocurrencies.
Fees and commissions All deposit and withdrawal fees are fixed for each currency. The same approach applies to cryptocurrency transactions.
Cartera Bitpanda cryptographic wallet.
Payments Bank transfers, bank cards, electronic systems.
Security 2-factor authentication for each connection. Cold storage of funds. Validation via email address.
Cell phone applications Available.

Coinmama

Coinmama is another decent resource for cryptocurrency trading. It started its operations in 2013, when cryptocurrencies were firmly integrated into the global financial system. You should not treat the platform as a trading service. Technically, you buy and sell assets on the exchange itself.

The selection of cryptocurrencies on this platform is not very large. If you buy Bitcoins through your credit card, be prepared for there to be a limit on the amount you can buy. And don't forget to check what commission is charged for the amount you want to exchange. The website accepts a sufficient number of payment methods. You can also find decent multilingual support, as the exchange is oriented to the global market. The only drawback is that there is no cryptocurrency wallet on this platform. Otherwise, it is a good choice for a beginner.

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

Paxful

This exchange began servicing traders in 2015 and was registered in the United States. From the beginning, the service targeted a global audience and accepted clients from Europe and the United States. The platform itself is quite simple, with reliable protection and affordable rates. In other words, you can call Paxful a P2P exchange. When you start working here, you will need to create your wallet. You can view other traders' wallets and assess their reliability before confirming a transaction.

One of the major shortcomings of this service is that you can only operate with Bitcoins. In fact, you can use a whole list of currencies to pay with Bitcoins. However, if it is a sale transaction, you will only be able to sell Bitcoins. All sales are subject to a 1% fee, while purchases are free. The exchange supports a variety of payment methods.

Coins available                                       Bitcoin.
Fees and commissions A 1% commission is charged on all sales, while purchases are free of charge. Depending on the chosen payment method, an additional commission may apply.
Cartera The Paxful wallet application.
Payments All known payment methods are supported.
Security Mandatory verification procedure; 2-factor authentication.
Cell phone applications Paxful portfolio application.

HitBTC

This exchange is based in Denmark. It was launched in 2013. The service was created with the aim of offering individuals the widest possible range 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 a great way to diversify your 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 with high volumes.

The disadvantage of the platform is that it does not accept fiat money. Only cryptocurrencies can be traded here. To compensate for this disadvantage, the exchange has incorporated a special system where you can buy digital coins and pay with a bank card. In this case, however, you have to pay a higher commission.

Coins available                                      800 pairs of change.
Fees and commissions All deposits are free of charge. Withdrawal rate is set for each individual currency. Multi-level trading system.
Cartera There is no cryptocurrency wallet.
Payments Only cryptocurrencies are accepted.
Security 2-factor authentication; high-level encryption technology.
Cell phone applications Do not.

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

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