Best trading platforms South Africa 2021
Digital goods 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 sparked a lot of interest in turning cryptocurrencies into a powerful trading tool. And this was mainly due to the high volatility.
In the early days, you could find very different prices for the same cryptocurrency, including Bitcoin. And since these new currencies only existed in the electronic space, they had no directly assigned value. 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 coins proved to be reliable enough to attract the attention of traders. This is how cryptocurrencies found their way to an exchange where they could be freely traded. The whole process is quite simple: traders exchanged one asset for another with the aim of holding it until its price rose. The popularity of this activity has led to the emergence of many new exchanges around the world. And they all work quickly and respond to all market changes.
What is a cryptocurrency exchange?
Before comparing the best stock exchanges in the world, you need to understand how they work.
A cryptocurrency 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 the way trading works. All you have to do is register on your chosen platform and start trading. These services connect real people who want to trade their digital goods. All you have to do is enter the amount you want to sell or buy and start the transaction. You can then keep the funds you receive until their value increases and continue trading them.
Cryptocurrencies are traded in the same way as other assets. There is a certain market value that is largely influenced by various external factors, the main ones being supply and demand. It can be explained that cryptocurrencies are quite unique and have no real value.
To deposit your account with a cryptocurrency exchange, you need an active virtual wallet. This is a storage service for your cryptocurrency. You will use the wallet's address to send money to the exchange's account. Check to see 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 foreign exchange account via the wallet, you can create a buy or sell order in the system. Once the other interested customer sees your offer and agrees on the prices and other details, the transaction is initiated. Thus, the purpose of the exchange is to help people make mutually beneficial deals. Always check the terms and conditions of exchange for this type of transaction, 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 reputable cryptocurrency exchanges, you should learn more about cryptocurrencies, especially what influences 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 so highly valued. This currency is already approaching its supply limit, so fluctuations are inevitable so there are no more coins in circulation. At least that is the opinion of the major holders of Bitcoin.
- 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 consider all the advantages that a particular currency offers, as well as the regulations that apply to different currencies. Once you know how much interest there is in a particular currency, you can roughly predict to what extent 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. Cryptocurrencies may lose their current value. But 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.
This list is not exhaustive, but these factors are the most important.
Today, there are many crypto exchanges and an average user often doesn't know which one to choose. Sometimes these services have similar offerings, 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 customers. This is crucial when you are doing business in an online environment. So if you are looking for a reliable exchange, make sure this is the most important criteria. A cryptocurrency exchange is your guide through the world of cryptocurrencies.
It is one of the largest exchanges. It started its operations in 2012, shortly after the invention of Bitcoin. It is based in the United States and operates according to all the regulations required here. After signing up for 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 advantages. Pro account holders can benefit from advanced charting features and effective indicators to detect even the smallest changes in the market. In addition, the service offers an extensive list of currencies that you can trade. But it would be fair to mention that some of Coinbase's competitors have an even better range of cryptocurrencies. The exchange system is very easy to use, and even a beginner will quickly learn how to navigate the site. If you use the exchange's cryptocurrency wallet, you can be sure that it is well protected against hacks. Overall, this crypto exchange offers a really convenient trading environment with all the features that an average user needs in their work. It is especially recommended for newcomers to create cryptocurrencies. Learn about the most important functions:
|Available currencies||23 coins.|
|Fees and commissions||You pay $0.00 for all transactions under $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 larger amounts, you are charged a fixed interest rate, depending on the type of payment.|
|Cartera||A free online wallet that is compatible with mobile devices.|
|Payments||All common payment methods: Bank card, bank transfer, electronic services.|
|Security||Two-factor authentication; encryption of data traffic with SLL protocols; the wallet is encrypted with the AES-256 protocol; only 2% of customer funds are kept online and these are secured.|
|Mobile Applications||For iOS and Android.|
This cryptocurrency platform was founded in 2017. Although it is still young, it has managed to attract many traders. This is easy to explain: The exchange offers its customers more than 150 different cryptocurrencies. It is quite difficult to find a service with such an impressive selection of cryptoassets. Binance doesn't just work with digital money - it also accepts fiat money, although cryptocurrencies still dominate. It also offers the option to trade its own token: BNB. Very quickly, the exchange reached a very high trading volume, which allowed it to take its place among the most influential cryptocurrency platforms in the world. And a flexible and affordable fee system left the competition far behind. In record time, the platform managed to build a huge customer base, with new users joining every day.
When you register on the website, you can make a deposit in cryptocurrency or fiat money. This feature makes the exchange accessible to literally everyone. The only drawback you may encounter here is the somewhat complicated setup. For a beginner, it can be a bit difficult to find your way around the service. Other than that, it works very well.
|Available currencies||740 pairs of fiat e cryptographic.|
|Fees and commissions||A flexible and competitive commission system. You pay 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 - CryptoSafeAlliance (CSA). It combines many services designed to improve platform security.|
|Mobile Applications||A free app for iOS and Android.|
This exchange hit the market in 2011. The service developed with impressive speed and became one of the leading exchanges on the market within a few years. It remains very popular among traders as it offers a good selection of altcoins and fiat currencies. Although other exchanges offer a wider selection, Kraken has other strong features that encourage customers to stay with Kraken.
Users appreciate this exchange for the many technical options that are essential for successful trading: comprehensive charting tools and margin trading. Advanced traders benefit greatly from these features. Beginners may struggle at first, but with a little effort, they too can master the user interface. Once they have successfully completed their first trades, things will move more quickly.
In short, this exchange has everything a trader needs for daily trading. The only shortcoming worth mentioning is the insufficient choice of payment methods. Therefore, before you decide to open an account on the site, make sure that you can deposit and withdraw your money without any hindrance. If you can't find the option you want, you may not want to work with this exchange.
|Available currencies||8 Cryptocurrencies.|
|Fees and commissions||For all transactions up to 50,000 of a given currency, the seller is charged 0.16% and the buyer 0.26%. For amounts over 50,000 of a given currency, the commission changes to 0.14% and 0.24% respectively.|
|Cartera||There is no wallet for cryptocurrencies.|
|Payments||Transactions can only be made directly from cryptocurrency wallets or by bank transfer. 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 to the account.|
|Mobile Applications||Kraken Pro e Kraken Futures.|
This exchange was launched in 2014. It was the moment when cryptocurrencies found their way into the global financial market and became an interesting tool for trading. The founders did their job well and offered a truly impressive selection of coins. This way, traders could easily diversify their trading portfolio to achieve better results. In addition, the creators of the exchange also included a virtual wallet in their service, which allows users to safely store their funds on the platform. The website is very reliable as many protection technologies have been implemented for the safety of customers.
|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.|
|Cartera||Online wallet for cryptocurrencies.|
|Payments||Wallets for cryptocurrencies, bank cards, and bank transfers.|
|Security||About 80% of all funds are cold stored; 2-factor authentication; IP verification via email address once the user registers via a new IP address; IP whitelisting.|
|Mobile Applications||Bittrex Global and the Bittrex application.|
This exchange accepted its first customer in 2014. And it took only a few years to attract thousands of traders. This was mainly due to the tempting offers for margin trading. There was no other platform with such attractive terms for binary trading. In the case of futures, for example, a trader could use leverage, a powerful way to multiply profits significantly. At the same time, leverage is a complicated mechanism that always involves a high financial risk. Therefore, margin trading is only advisable for traders with sufficient market experience.
Bitmex is a reliable platform. The registration process is more than simple. It is an excellent compromise between ease of use and many additional options. Traders join the exchange again and again with the intention of taking advantage of margin trading.
|Available currencies||More than 55 pairs of citations.|
|Fees and commissions||There are no fees for deposits and withdrawals. For all transactions, users pay 0.075% of the total transaction amount.|
|Cartera||BitMex online wallet.|
|Payments||The service only accepts wallets for cryptocurrencies.|
|Security||Funds stored in cold wallets; 2-factor authentication; SMS registration; wallets with multiple signatures.|
|Mobile Applications||Bitmex mobile application.|
This exchange has been running since 2012 and is considered one of the first services of its kind. It has managed to grow and remain popular throughout all these years. The best feature of Bitfinex is margin trading. Many traders have been able to make a steady profit with this opportunity. As mentioned earlier, you need to have some experience to use margin for your trading. Otherwise, there is a high risk of losing your investments.
Bitfinex does not have the largest selection of trading instruments on the market. But the platform has accepted both cryptoassets and fiat assets since 2015, which has made it extremely popular among traders. Thanks to 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||No fees are charged for deposits and withdrawals. For all USD transactions, 0.1 percent is charged, but not less than USD 20. The fee for a fiat cash transaction is USD 60. For other transactions, the service charges 0.1 percent to the originator and 0.2 percent to the recipient.|
|Cartera||Three different portfolios available - Margin, Foreign Exchange, Funding.|
|Payments||The service accepts cryptocurrency wallets, bank cards, and wire transfers.|
|Security||99.5% of all funds are stored in cold wallets. To access this money, multi-level authentication is required so that it is securely protected.|
It is another pioneer among cryptocurrency exchanges. Its main feature is that it originally started as a peer-to-peer (P2P) service and did not focus so much on transaction volume. Although the service is global, its customers have a local trading experience.
The platform allows each trader to find a favorable offer and discuss it with other participants until an agreement is reached. You can open a custodial account to facilitate the transaction process. The exchange has managed to create a truly reliable environment for trading. For this reason, it is especially popular among beginners in the industry. However, it is important to note that Localbitcoins operates with slightly higher fees than other similar services.
|Available currencies||Only Bitcoin is traded here.|
|Fees and commissions||Buyers pay no commission, while sellers are charged 1% of the amount traded.|
|Cartera||Cryptocurrency wallet for btc.|
|Payments||Bank transfers, bank cards, electronic systems.|
|Security||2-factor authentication; escrow account system.|
The first transactions on this exchange were recorded in 2014. Since then, the platform has come a long way. It offers over 100 cryptocurrency pairs for trading in a highly reliable environment. The service charges very low commissions and offers many advantages to its customers. For example, the higher your trading volume, the less commission you will have to pay.
Poloniex applies separate commissions for buyers and makers. This is done in order to encourage traders to open more positions, as the makers pay only small fees for doing so. There are a whole host of other benefits for traders registered with Poloniex - these include chat boxes, analysis tools, news and more. The website has a very easy to navigate interface.
|Available currencies||More than 100 currency pairs.|
|Fees and commissions||All deposits are free of charge. The withdrawal fee is fixed for each individual currency. Commissions are shared between borrowers and originators.|
|Cartera||Online wallet for cryptocurrencies.|
|Payments||Payment methods differ depending on the country in which the merchant is located.|
|Security||2-factor authentication of the account.|
It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform was developed by very experienced market participants. The service thus offers everything needed for successful trading in cryptocurrencies. Thanks to its modern features, it immediately became popular and attracted users from almost every country in the world.
One of the most notable features is a high-quality protection system implemented at the exchange. It is comparable to the procedure used by the best known banks. High-level encryption and multi-level authentication are used here. So far, there have been no cases of hacking on this platform. But it is still too early to judge the security of this exchange, since it has not been on the market for a long time.
|Available currencies||200 chips and 450 currency pairs.|
|Fees and commissions||All deposits are free of charge. The withdrawal fee is fixed for each individual currency. A flat fee of 0.10% is charged for all transactions.|
|Payments||All major payment channels are supported, including electronic systems.|
|Security||Google 2-factor authentication.|
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 the platform was to make cryptocurrency trading accessible and easy for everyone. To achieve this, the founders created a user-friendly website that even beginners could navigate effortlessly. This approach proved to be successful, 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 automated tools that make trading cryptocurrencies much easier. Once you have enough experience in this industry, you can trade between digital goods and metals. The company has many branches around the world, which offer additional opportunities to make money. You can invest in the exchange's own token 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 cryptocurrency trading.|
|Cartera||Bitpanda wallet for cryptocurrencies.|
|Payments||Bank transfers, bank cards, electronic systems.|
|Security||2-factor authentication for each login. Cold storage of funds. Validation through e-mail address.|
Coinmama is another good source for cryptocurrency trading. It started its operations in 2013, when cryptocurrencies had firmly arrived in the global financial system. You should not treat the platform as an exchange. Technically, you buy and sell assets on the exchange itself.
The range of cryptocurrencies on this platform is not particularly large. If you buy Bitcoins with your credit card, be prepared that there is a limit to the amount you can buy. And be sure to check what commission you will be charged for the amount you wish to exchange. There are enough payment options accepted on the website. Since the exchange is geared towards the global market, you can 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||More than 10 cryptocurrencies.|
|Fees and commissions||A service fee applies for the use of a bank card. Fixed fees apply for buying and selling cryptocurrencies.|
|Cartera||There is no portfolio available.|
|Payments||Bank transfers, bank cards, electronic systems, SEPA and SWIFT payments.|
|Security||Trust Guard and Comodo protection technologies.|
This exchange was registered in the United States in 2015 and offers its services to traders. Since its inception, the service has reached a global audience and accepts customers from Europe and the United States. The platform itself is quite simple, offering reliable protection and affordable prices. 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 other traders' wallets and evaluate their reliability before confirming a transaction.
One of the main flaws of this service is that you can only trade with Bitcoin. Actually, you can use a whole range of currencies to pay with Bitcoin. But when it comes to a selling transaction, you can only sell Bitcoins. There is a 1% fee on all sales, while purchases are free. The exchange supports many payment methods.
|Fees and commissions||A 1% commission is charged on all sales, while purchases are free. Depending on the payment method chosen, an additional fee may apply.|
|Cartera||The Paxful wallet application.|
|Payments||All known payment methods are supported.|
|Security||Mandatory verification procedure; 2-factor authentication.|
|Mobile Applications||Paxful wallet application.|
This scholarship is located in Denmark. It was launched in 2013. The service was created with the aim of offering individuals the widest possible choice of cryptocurrencies. Currently, the exchange offers more than 800 currency 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 each new customer to test the service for free. All customer funds are protected by the most reliable technologies. 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 overcome this disadvantage, the exchange has built a special system where you can buy digital currencies and pay with a bank card. In this case, however, you have to pay higher fees.
|Available currencies||800 commercial spare parts.|
|Fees and commissions||All deposits are free of charge. The withdrawal commission is fixed for each individual currency. Multi-level trading system.|
|Cartera||There is no wallet for cryptocurrencies.|
|Payments||Only cryptocurrencies are accepted.|
|Security||2-factor authentication; high-level encryption technology.|
As you can see, the market is full of excellent bags. Now you need to analyze your needs and choose the product that best meets your expectations.