Best trading platforms South Africa 2021

Digital assets are on the rise

Before 2009, no one had heard of cryptocurrencies. But the invention of Bitcoin launched the creation of thousands of new electronic currencies, making the choice truly enormous. Logically, this new kind of money immediately sparked a lot of 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 because these new currencies existed only in the electronic space, they had no directly assigned value. All of this led to dramatic fluctuations in the prices of all digital currencies in the early years of their existence. It is still not stable, but there has been a clear trend in recent years.

Some coins proved to be reliable enough to attract the attention of traders. Thus, cryptocurrencies paved the way for the creation of an exchange where they could be freely traded. The process was quite simple: traders exchanged one commodity for another in order to hold the commodity until its price rose. The popularity of this activity led to the creation of many new exchanges around the world. And all of them work quickly and respond to any changes in the market.

What is a crypto exchange?

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

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

In fact, there is nothing special about making an exchange. 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 the transaction. You can then hold the funds you receive until their value rises and continue trading.

Cryptocurrencies are traded like all other assets. There is a certain market value, which is heavily 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.

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

When you fund your currency account from 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 initiate the transaction. Thus, the purpose of the exchange is to help people make mutually beneficial transactions. Always inquire about the terms of the exchange in such transactions, as they may vary slightly from place to place.

What affects 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, especially what affects their value. It is impossible to list all the factors, but here are the most important ones to keep in mind.

• 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 so highly valued. This currency is already approaching its supply limit, so fluctuations are inevitable unless you expect more coins to come into circulation. At least, that is the opinion of 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 affecting demand. It is very important that you take into consideration all of the benefits that a particular currency offers, as well as the rules that apply to the various currencies. Once you know how much interest there is in a particular currency, you can roughly predict 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. Cryptocurrencies could lose their current value. But the adoption of cryptocurrencies is inevitable, and this 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.

Stock Exchange Overview

Nowadays, there are many cryptocurrency exchanges, and the average user is often spoilt for choice. Sometimes these services have similar offers, but there are still differences. Therefore, it is important to know these nuances and understand how they differ when you want to exchange cryptocurrencies.

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

Coinbase

It is one of the largest exchanges. It began operations in 2012, shortly after the invention of Bitcoin. The company is based in the United States and operates in accordance with all the rules in force there. After registering 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 offers many benefits. Pro account holders enjoy advanced charting capabilities and effective indicators to detect even the smallest changes in the market. In addition, the service offers an extensive list of currencies for trading. But it is fair to say that some Coinbase competitors have an even larger selection of cryptocurrencies. The exchange system is very easy to use, and even a novice will quickly learn how to navigate the site. When you use a crypto exchange wallet, you can be sure that it is well protected against piracy. Overall, this exchange offers a really favorable trading environment with all the features that the average user needs in the process. It is especially recommended for newcomers to cryptocurrencies. Check out the most important features:

Available currencies		23 coins.
Fees and commissions		You pay US$0.00 for all transactions up to US$10; You pay US$1.49 for transactions US$10 to US$25; You pay US$1.99 for transactions US$25 to US$50; You pay US$2.99 for transactions from US$50 to US$200. Higher amounts will incur a flat rate of interest depending on your payment method.
Portfolio		Free online wallet compatible with mobile devices.
Payments		All the main methods of payment - bank card, bank transfer, electronic services.
Security		Two-factor authentication; data traffic encryption using SLL protocols; wallet is encrypted using AES-256 protocol; only 2% of customer funds are stored online and they are insured.
Mobile applications		For iOS and Android.

Binance

This crypto platform was founded in 2017. Despite its young age, it has managed to attract many traders. One thing is easy to explain: the Exchange offers its clients more than 150 different cryptocurrencies. It's pretty hard to find a service with such an impressive selection of crypto-assets. Binance doesn't just work with digital money - it also accepts fiat money, although cryptocurrencies still dominate. It also offers trading of its own token, BNB. The exchange soon achieved a very high trading volume, making it one of the most influential crypto-platforms on the global stage. And its flexible and affordable payment system left its competitors far behind. In record time, the platform managed to create 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 cash. This feature makes the exchange accessible to literally everyone. The only drawback you may find here is that the setup is somewhat complicated. It may be a bit difficult for a newbie to navigate the service. Other than that, it works very well.

Available currencies		740 fiat e cryptographic pairs.
Fees and commissions		Flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for transactions with NBB token.
Portfolio		Mobile App - Trust Portfolio.
Payments		All basic methods are supported - bank transfer, bank cards, electronic payments.
Security		The exchange has introduced a unique monitoring system - CryptoSafeAlliance (CSA). It combines a variety of services designed to improve platform security.
Mobile applications		Free app for iOS and Android.

Kraken

This exchange appeared on the market in 2011. The service developed with impressive speed and in just a few years became one of the leading exchanges on the market. It remains very popular among traders because it offers a good selection of altcoins and fiat currencies. While some other exchanges have a wider selection, Kraken has other strengths that encourage customers to stay with Kraken.

Users appreciate this exchange for the variety of technical options that are necessary for successful trading - 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 user interface. Once you successfully complete your first trades, things will go faster.

In short, this exchange has everything a trader needs for his daily activities. The only drawback that can be mentioned is the insufficient choice of payment methods. So before you decide to open an account on the site, you are free to make deposits and withdrawals. If you don't find the option you want, you might not feel comfortable working with this particular exchange.

Available currencies		8 Cryptocurrencies.
Fees and commissions		All transactions up to 50,000 units of this token are charged 0.16% to the seller and 0.26% to the buyer. For amounts over 50,000 in this currency, the fee changes to 0.14% and 0.24%, respectively.
Portfolio		No cryptocurrency wallet.
Payments		Only direct transactions from cryptocurrencies or bank transfer. Bank cards are not accepted on this platform.
Security		Two-factor authentication; PGP encryption; the exchange also uses a global configuration lock to prevent too many changes to the account.
Mobile applications		Kraken Pro e Kraken Futures.

Bittrex

This exchange was launched in 2014. It was the time when cryptocurrencies appeared on the global financial market and became an interesting trading tool. The founders did everything right and offered a really impressive selection of coins. Thus, traders can easily diversify their trading portfolio to achieve better results. Moreover, the creators of the exchange have also added a virtual wallet to their service, which allows users to safely store their funds on the platform. The site is very reliable, as it has implemented many security technologies for customer safety.

Available currencies		More than 250 trading pairs.
Fees and commissions		The exchange uses a flexible commission system, but there is a different rate for each currency.
Portfolio		Crypto online wallet.
Payments		Cryptocurrencies, bank cards and bank transfers.
Security		About 80% of all funds are stored in cold storage; two-factor authentication; IP address verification by email address as soon as user logs in through new IP address; IP address whitelisting.
Mobile applications		Bittrex Global и Bittrex App.

Bitmex

This exchange took its first client in 2014. And it took only a few years to attract thousands of traders. It happened mainly because of the tempting offers on margin trading. There was no other platform with such attractive conditions for binary trading. In futures, for example, a trader could use leverage, which was a powerful way to significantly multiply profits. At the same time, leverage is a complex mechanism, which is always associated with high financial risk. Therefore margin trading is expedient only for traders with sufficient experience in the market.

Bitmex is a reliable platform. The registration process is more than simple. It's a great compromise between usability and a lot of additional options. Traders come to the exchange again and again with the intention of taking advantage of margin trading.

Available currencies		55+ Handelspaare.
Fees and commissions		There are no deposit or withdrawal fees. Users pay 0.075% of the total transaction fee for all transactions.
Portfolio		BitMex Online Wallet.
Payments		Service accepts only crypto wallets.
Security		Funds stored in cold wallets; two-factor authentication; SMS registration; wallets with multiple signatures.
Mobile applications		Bitmex mobile app.

Bitfinex

This exchange has been operating since 2012 and is considered one of the first services of its kind. Over all these years, it has managed to grow and remain popular. The best feature of Bitfinex is margin trading. Many traders could consistently make profits with this setup. As mentioned earlier, you need to have some experience to use margin for your trade. Otherwise, there is a high risk of losing 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 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 over 300 trading pairs.
Fees and commissions		There is no deposit or withdrawal fee. All transactions in U.S. dollars are charged 0.1%, but not less than 20 U.S. dollars. The fee for a fiat money transaction is $60. For other transactions, the service fee is 0.1% for the originator and 0.2% for the borrower.
Portfolio		Three different portfolios are available - margin, currency, and stock.
Payments		Service accepts cryptocurrencies, bank cards and bank transfers.
Security		99.5% of all money is stored in cold wallets. To access this money, you must go through several authentication steps to keep it secure.
Mobile applications		Available.

Localbitcoins

This is another pioneer among cryptocurrency exchanges. Local Coins appeared on the market in 2012. Its main feature is that it originally started as a P2P (peer-to-peer) service and did not focus so much on the volume of exchanges. Despite the fact that the service is global, its customers have a local trading experience.

The platform allows each trader to find a profitable offer and discuss fees with other participants until you come to an agreement. You can open an escrow account to facilitate the transaction process. The exchange has managed to create a truly robust trading environment. As a result, it is very popular, especially among industry insiders. 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 are charged 1% of the contract value.
Portfolio		Cryptocurrency wallet for btc.
Payments		Bank transfers, bank cards, electronic systems.
Security		2 Authentication factor; escrow account system.
Mobile applications		No.

Poloniex

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

Poloniex charges separate commissions for acceptors and makers. This is done to encourage traders to open more positions, as makers pay very low commissions. There are a number of other benefits for traders registered on Poloniex, including a chatbox, analytics tools, news feeds, and more. The site has a very easy to navigate interface.

Available currencies		More than 100 currency pairs.
Fees and commissions		All deposits are free of charge. Withdrawal fees are fixed for each individual currency. Fees are divided between borrowers and producers.
Portfolio		Crypto online wallet.
Payments		Methods of payment depend on the seller's country of residence.
Security		Authentication with two accounts Factor authentication.
Mobile applications		Available.

KuCoin

It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform was developed by very experienced market participants. Thus, the service offers everything necessary for successful cryptocurrency trading. Thanks to its modern features, it immediately became popular and attracted users from almost all countries of the world.

One of the outstanding features is the first-class protection system implemented on the exchange. It is comparable to the procedure used by the most famous banks. It uses high-level encryption and multi-level authentication. So far, there have been no cases of hacking attacks on this platform. But it is too early to judge the security of this exchange, because it is not so long 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 individual currency. All transactions are subject to a fixed fee of 0.10%.
Portfolio		Available.
Payments		All major payment channels are supported, including electronic systems.
Security		Two-factor authentication from 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 renamed to Bitpanda. The goal of creating the platform was to make cryptocurrency trading accessible and easy for everyone. To this end, the founders created a user-friendly website that even absolute beginners can easily navigate. This approach proved to be successful, as the exchange attracted more than a million users in just a few years.

In addition to cryptocurrencies, you can trade other instruments here, such as silver and gold. The platform offers automated tools that make cryptocurrency trading very easy. When you have enough experience in this industry, you can trade between digital assets and metals. The company has many affiliates around the world that offer additional ways to make money. You can invest in the exchange symbol itself and use it to minimize your operating costs.

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

Coinmama

Coinmama is another good source of information about cryptocurrency trading. It started in 2013, when cryptocurrencies were firmly entrenched in the global financial system. You should not treat the platform as an exchange. Technically, you buy and sell assets for the exchange itself.

The selection of cryptocurrencies on this platform is not particularly large. When you buy cryptocurrencies with a credit card, keep in mind that there is a limit to the amount you can buy. And don't forget to check what commission is charged for the amount you want to exchange. The site accepts plenty of payment options. Since the exchange is geared toward the global market, you can also find good multilingual support. The only drawback is that there is no cryptocurrency wallet on this platform. Otherwise, it is a good option for a beginner.

Available currencies		More than 10 cryptocurrencies.
Fees and commissions		There is a service fee for using the bank card. Fixed commissions for buying and selling cryptocurrencies.
Portfolio		There is no portfolio.
Payments		Bank transfers, bank cards, electronic systems, SEPA and SWIFT payments.
Security		Fiduciary care and protective technologies from Comodo.
Mobile applications		Available.

Paxful

This exchange was registered in the U.S. in 2015 and offers services to traders. From the beginning, the service was aimed at a global audience and accepted clients from Europe and the United States. The platform itself is quite simple, with robust security and affordable rates. In other words, Paxful can be described as a P2P exchange. When you start working here, you need to create your wallet. You can check the wallets of other traders and assess their reliability before confirming a transaction.

One of the biggest drawbacks of this service is that you can only exchange Bitcoin. In fact, you can use a range of currencies to pay with Bitcoin. But when it comes to a buy/sell transaction, you can only sell Bitcoin. All sales are charged a 1% fee, while purchases are free. The exchange supports multiple payment methods.

Available currencies		Bitcoin.
Fees and commissions		All sales are charged a 1% commission, while purchases are free. Depending on the selected payment method, additional fees may apply.
Portfolio		Paxful wallet app.
Payments		All known payment methods are supported.
Security		Mandatory verification procedure; 2 authentication factors.
Mobile applications		Paxful wallet app.

HitBTC

This exchange is located in Denmark. It was launched in 2013. The service was created in order to offer individuals the widest possible choice of cryptocurrencies. Currently, the exchange offers more than 800 trading pairs. You can find even the rarest coins on this platform. This approach is a great way for users to diversify their investment portfolio. HitBTC offers a demo account that allows every new customer to test the service for free. All client funds are protected by the most reliable technology. The exchange allows customers 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 overcome this drawback, the exchange has built 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 commercial parts.
Fees and commissions		All deposits are free of charge. Withdrawal fees are fixed for each currency. Multilevel trading system.
Portfolio		No cryptocurrency wallet.
Payments		Only cryptocurrencies are accepted.
Security		Two-factor authentication; high-level encryption technology.
Mobile applications		No.

As you can see, the market is full of great exchanges. Now you need to analyze your needs and choose the product that best meets your expectations.