Best platform to buy bitcoin South Africa 2021
Digital assets are on the rise
Until 2009, no one had heard of cryptocurrencies. But the invention of Bitcoin triggered the creation of thousands of new electronic currencies, making the choice truly enormous. Logically, this new type of money immediately created a huge interest in turning cryptocurrencies into a powerful trading tool. And this was mainly due to its high volatility.
In the early days, you could find very different prices for the same cryptocurrency, including Bitcoin. And since these new coins existed only in the electronic space, they had no directly assigned value. All this led to dramatic price fluctuations for all digital coins in the first few years. It is still not stable, but in recent years a clear trend has emerged.
Some currencies proved to be reliable enough to attract the attention of traders. This is how cryptocurrencies found their way to the stock market, where they could be freely traded. The whole process is quite simple: traders exchange one asset for another, with the aim of holding the asset until its price rises. The popularity of these events has led to the creation of many new exchanges around the world. And they all function quickly and respond to any 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 crypto exchange is a service that allows you to trade cryptocurrencies. Many platforms accept both fiat money and electronic coins. So you can buy and sell both fiat and cryptocurrencies, in any combination.
There is really nothing special about bartering. You just need to 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 the transaction. You can then hold the funds you receive until their value increases and continue trading.
Cryptocurrencies are traded like any other asset. There is a certain market value that is strongly influenced by several external factors, the most important of which are supply and demand. This can be explained by the fact that cryptocurrencies are completely unique and have no real value.
In order to fund your account with a crypto exchange, you must have an active virtual wallet. This is a service for storing your cryptocurrency. You will use the wallet address to send money to the exchange account. Find out if the particular exchange accepts the coins you want to sell. Some exchanges offer their own built-in wallets that are well protected.
Once you have funded your exchange account through your wallet, you can create a buy or sell order in the system. Once another interested buyer sees your offer and is satisfied with the prices and other details, you begin the transaction. So the goal of the exchange is to help people make mutually beneficial transactions. Always check the exchange terms and conditions for such transactions, as they may vary slightly from website to website.
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 popular cryptocurrency exchanges, you should first learn more about cryptocurrencies and, in particular, what affects 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 currency. This is the reason why Bitcoin is trading so high. The currency is already approaching its limit, so fluctuations are inevitable when there are no more coins to circulate. At least, that's what most 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 influences the demand. It is very important to consider all the benefits that a particular coin offers, as well as the rules that apply to different coins. Once you know how much interest there is in a particular coin, you can make a rough prediction about how 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 for sure how regulation will limit the use of cryptocurrencies. Electronic currencies might lose their current value. But the introduction of cryptocurrencies is inevitable, and their 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 exhaustive, but these factors are the most important.
Overview of the stock exchanges
There are many cryptocurrency exchanges to choose from, and the average user often wonders which one to choose. 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 start trading 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. So, if you are looking for a reliable exchange, you should make sure that this criterion is on the first place. A cryptocurrency exchange is your guide through the world of cryptocurrencies.
It is one of the largest exchanges. It started its activity in 2012, shortly after the invention of Bitcoin. 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. The 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 them to spot even the smallest changes in the market. In addition, the service offers an extensive list of coins for trading. But it is fair to say 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 his work. It is especially recommended for those who are new to the cryptocurrency industry. Get to know its main features:
|Available currencies||23 coins.|
|Fees and commissions||You pay $0.00 for all transactions up to $10; you pay $1.49 for transactions from $10 to $25; you pay $1.99 for transactions from $25 to $50; you pay $2.99 for transactions from $50 to $200. And for higher amounts, a flat interest rate is charged depending on the payment method.|
|Wallet||A free online portfolio compatible with mobile devices.|
|Payments||All major payment methods - bank card, bank transfer, e-services.|
|Security||Two-factor authentication; encryption of traffic with SLL protocols; wallet is encrypted with AES-256 protocol; only 2% of customer money is stored online and is insured.|
|Mobile applications||For iOS and Android.|
This crypto platform was founded in 2017. Although it is still young, 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 crypto assets. Binance doesn't only work with digital money - it also accepts fiat money, although cryptocurrencies still dominate. It also offers trading in its own token, BNB. In a very short time, the exchange has reached a very high trading volume and rightfully takes its place among the most influential crypto platforms on the global stage. Its flexible and accessible 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 crypto or fiat money. This feature literally makes the exchange accessible to everyone. The only drawback you might find here is the somewhat complicated setup. For a newbie, it can be a bit difficult to find your way around the service. Otherwise, it works very well.
|Available currencies||740 Fiat into a crypto pair.|
|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.|
|Wallet||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 a variety of services designed to improve the security of the platform.|
|Mobile applications||Free app for iOS and Android.|
This heat exchanger came onto the market in 2011. It has developed 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 - extensive charting tools and margin trading. Advanced traders benefit greatly from these features. Novice traders may find it challenging at first, but with some effort, they too can master the interface. Once you have successfully completed your first trades, things will move faster.
Overall, this exchange offers everything a trader needs for his daily activities. The only drawback worth mentioning is the insufficient choice of payment methods. So, before you decide to open an account on the website, you should check if you can deposit and withdraw your money. If you do not find the right option, you may not feel comfortable working with this particular exchange.
|Available currencies||8 Cryptocurrencies.|
|Fees and commissions||For all transactions up to 50,000 in a given currency, the seller is charged 0.16% and the buyer 0.26%. For amounts over 50,000 in a given currency, the fee increases to 0.14% and 0.24% respectively.|
|Wallet||No wallet for cryptocurrencies.|
|Payments||Only direct cryptocurrency transactions 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 excessive account changes.|
|Mobile applications||Kraken Pro и Kraken Futures.|
This exchange was launched in 2014. It was the time when cryptocurrencies conquered the global financial market and became an interesting tool for trading. Its founders took the right approach 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 added a virtual wallet to their service, which allows users to store their money safely on the platform. The website is very secure as many security technologies are used to protect the clients.
|Available currencies||Over 250 trading pairs.|
|Fees and commissions||The exchange uses a flexible commission system, but for each coin there is a different rate.|
|Payments||Cryptocurrencies, bank cards and bank transfers.|
|Security||Approximately 80% of all funds are kept in cold storage; two-factor authentication; IP address verification based on email address when a user logs in using a new IP address; whitelisting of IP addresses.|
|Mobile applications||Bittrex Global and the Bittrex app.|
This fair welcomed its first customer back in 2014, and it only took a couple of years to attract thousands of traders. This was mainly due to the enticing 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, a powerful way to multiply profits significantly. At the same time, leverage is a delicate mechanism that always involves a 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 good compromise between ease of use and many additional features. Traders continue to join the exchange with the intention of profiting from margin trading.
|Available currencies||55+ Handelspaare.|
|Fees and commissions||There are no fees for deposits and withdrawals. For all transactions you pay 0.075% of the total amount of the transaction.|
|Wallet||BitMex online wallet.|
|Payments||The service accepts cryptocurrencies only.|
|Security||Funds stored in cold wallets; two-factor authentication; registration via SMS; wallets with multiple signatures.|
|Mobile applications||Bitmex mobiele app.|
This fair is held since 2012 and is considered one of the first services of this kind. During all these years, it has managed to grow and remain popular. A compelling feature of Bitfinex is margin trading. Many traders have been able to make consistent profits thanks to this feature. As mentioned earlier, you need to have some experience to trade on margin. 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 the platform has been accepting both crypto and fiat assets since 2015, which makes it especially popular among traders. Thanks to 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 are no deposit or withdrawal fees. For all transactions in US dollars, a fee of 0.1% is charged, but not less than $20. The fee for a fiat money transaction is $60. For other transactions, the service charges 0.1% for the sender and 0.2% for the recipient.|
|Wallet||Three different portfolios are available - Margin, Exchange, Financial.|
|Payments||The service accepts cryptocurrencies, bank cards and bank transfers.|
|Security||99.5% of money is stored in cold wallets. Access to this money requires multi-level authentication to keep it secure.|
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, with little focus on trading volume.
The platform allows each trader to find a profitable offer and discuss bets with other participants until you come to an agreement. You can open a blocked account to simplify the transaction process. The exchange has managed to create a really robust trading environment. As a result, it is very popular, especially among newcomers to the industry. However, it is important to note that Localbitcoins operates with slightly higher commissions than other similar services.
|Available currencies||Only Bitcoin is traded here.|
|Fees and commissions||Buyers pay no commission, while sellers must pay 1% of the transaction amount.|
|Wallet||Cryptocurrency wallet for btc.|
|Payments||Bank transfers, bank cards, electronic systems.|
|Security||Two-factor authentication; locked account system.|
The first transactions on this exchange were registered in 2014. Since then, the platform has made good progress. It offers more than 100 cryptocurrency pairs for trading in a very secure environment. The service charges very low commissions and offers many benefits to its clients. The larger your trading volume is, the lower the commission you have to pay.
Poloniex applies separate commissions for takers and makers. This is done to encourage traders to open more positions, as makers pay very little. There are quite a few other benefits for traders who are 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+ castapars.|
|Fees and commissions||All deposits are free of charge. Withdrawal fees are fixed for each coin. Separation of commissions for acceptors and originators.|
|Payments||Payment options vary depending on the country in which the merchant lives.|
|Security||Two-factor account authentication.|
It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform was developed by 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 quality of security on the stock exchange. It can be compared with the performance of the most prestigious banks. High-grade encryption and multi-level authentication are used here. So far, there have been no cases of this platform being hacked. But it is still too early to judge the security of this exchange, as it has not been on the market for very long.
|Available currencies||200 coins and 450 currency pairs.|
|Fees and commissions||All deposits are free of charge. Withdrawal fees are set separately for each currency. All transactions are charged at a fixed rate of 0.10%.|
|Payments||All major payment channels are supported, including electronic systems.|
|Security||Two-factor authentication from Google.|
The exchange was originally known as Coinimal. This Austrian service was launched in 2014. But some time later it was renamed Bitpanda. The goal of founding the platform was to make cryptocurrency trading accessible and easy for everyone. To this end, the founders created a user-friendly website where even a complete novice could easily find their way around. This approach has proven successful, as the exchange has attracted more than a million users within a few years.
Besides cryptocurrencies, you can trade other instruments here, such as silver and gold. The platform offers automated tools that make trading cryptocurrencies much easier. If you have enough experience in this field, you can trade between digital assets and metals. The company has many partners around the world that provide additional earning opportunities. You can invest in your own exchange token and minimize your operating costs.
|Available currencies||30+ Cryptocurrencies.|
|Fees and commissions||All deposit and withdrawal fees are fixed for each currency. The same approach works when trading cryptocurrencies.|
|Wallet||Bitpanda crypto wallet.|
|Payments||Bank transfers, bank cards, electronic systems.|
|Security||Two-factor authentication for each login. Cold storage of funds. Validation via email address.|
Coinmama is another reliable source of information about cryptocurrency trading. It was launched in 2013 when cryptocurrencies made their way into the global financial system. You should not treat the platform like an exchange. 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 with a credit card, be prepared that there is a limit to the amount you can buy. And don't forget to check what fee is charged on the amount you want to redeem. The website accepts many payment options. Since the exchange is geared towards the global market, you will also find good multilingual support. The only downside is that there is no wallet for cryptocurrencies on this platform. Otherwise, it is a good option for a beginner.
|Available currencies||10+ Cryptocurrencies.|
|Fees and commissions||There is a service fee for using the bank card. Fixed fee for buying and selling cryptocurrencies.|
|Wallet||There is no portfolio.|
|Payments||Bank transfers, bank cards, electronic systems, SEPA and SWIFT payments.|
|Security||Trust Guard and Comodo security technologies.|
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 simple, offering solid security and affordable rates. In other words, Paxful can be described as a P2P exchange. When you start here, you need to create a portfolio. You can look at other traders' portfolios and assess their reliability before confirming a trade.
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 buying and selling transactions, you can only sell Bitcoins. All sales are charged with a 1% commission, while purchases are free. The exchange supports various payment methods.
|Fees and commissions||A 1% commission is charged on all sales, while purchases are free of charge. Additional fees may apply depending on the payment method chosen.|
|Wallet||De Paxful portemonnee app.|
|Payments||All known payment methods are supported.|
|Security||Mandatory authentication procedure; 2-factor authentication.|
|Mobile applications||Paxful Portfolio Application.|
This exhibition is located in Denmark. It was launched in 2013. It was created 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 that allows any new customer to test the service for free. All client funds are protected by 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. Only cryptocurrencies can be traded here. But to get around this inconvenience, the exchange has built in a special system that allows you to buy digital coins and pay with a bank card. But in this case, you will have to pay higher commissions.
|Available currencies||800 Handelspaare.|
|Fees and commissions||All deposits are free of charge. Withdrawal fees are fixed for each currency. Multi-level trading system.|
|Wallet||No wallet for cryptocurrencies.|
|Payments||Only cryptocurrencies are accepted.|
|Security||Two-factor authentication; high-level encryption technology.|
As you can see, the market is full of great exchanges. Now you should analyze your needs and choose the heat exchanger that best meets your expectations.