Bitcoin trading South Africa 2021
Digital assets are on the rise
Before 2009, no one had ever heard of crypto-currencies. But the invention of bitcoin gave birth to thousands of new electronic currencies, making the choice truly enormous. Logically, this new type of currency immediately generated a lot of interest in making crypto-currency a powerful trading tool. And this is mainly because of its high volatility.
In the very beginning, you could find very different prices for the same cryptocurrency, including bitcoin. And because these new coins only existed in the electronic space, they had no directly assigned value. All of this led to dramatic price fluctuations for all digital currencies in the first few years of their existence. It is not yet stable, but a clear trend has been emerging for a few years.
Some currencies proved reliable enough to attract the attention of traders. Thus, crypto-currencies found their way to the stock market, where they could be freely traded. The process was simple enough: traders would exchange one asset for another and hold it until its price rose. The popularity of this activity has led to the creation of many new exchanges around the world. And they all work quickly, reacting to any changes in the market.
What is a cryptocurrency exchange?
Before you can compare the world's best exchanges, you need to understand how they work.
A crypto-currency exchange is a service that allows you to trade crypto-currencies. Many platforms accept both fiat currency and electronic coins. So you can buy and sell both fiat and crypto-currencies in any combination.
There is really nothing special about how the exchange works. All you have to do is sign up 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 buy or sell and start trading. You can then hold on to the funds you receive until their value increases and trade them later.
Crypto-currencies are traded like any other asset. There is a certain market value, which is heavily influenced by many external factors, the most important of which are supply and demand. This can be explained by the fact that crypto-currencies are completely unique and have no real value.
To fund your account on a crypto-currency exchange, you need to have an active virtual wallet. This is a service for storing your crypto-currency capital. You will use the wallet address to send money to the exchange account. Check if the exchange in question accepts the coins you intend to sell. Some exchanges offer their own built-in wallets, which are well secured.
After funding your trading account from your portfolio, you can create a buy or sell order in the system. Once another interested customer has seen your offer and is satisfied with the rates and other details, you start the transaction. So the purpose of the exchange is to help people make mutually beneficial transactions. Always check what the exchange's requirements are for such transactions, as they may vary slightly from site to site.
What influences the value of crypto-currencies?
Digital assets are always very volatile and difficult to predict.
Before actively trading on reputable crypto-currency exchanges, you should definitely learn more about crypto-currencies, including what affects their value. It would be impossible to list all the factors, but here are the most important ones you should consider.
- Limited supply. This is one of the top factors that can affect the price of a particular coin. For example, bitcoin has a preset emission. So, in many cases, it is known in advance how many coins can be issued in total. Once the coin has limited supply, it becomes extremely difficult to get more coins when current circulation gets closer to the maximum.
For example, only 21 million bitcoins can be mined. That number is nothing when it comes to any currency. This is why the value of Bitcoin is so high. This currency is already approaching its inventory limit, so fluctuations are inevitable when there are no more coins in circulation. At least that's the opinion of the major Bitcoin owners.
- 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 very important to consider all of the benefits that a particular coin offers and the rules that apply to different coins. Once you know the level of interest in a particular coin, you can make a rough prediction of 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 could lose their current value. But the adoption of crypto-currency is inevitable, and its 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 are the most important factors.
Overview of trade shows
There are many crypto-currency exchanges available today, and the average user often has a hard time deciding which one to choose. Sometimes these services offer similar deals, but there are also differences. Therefore, it is important to know these nuances and understand how they differ if you intend to trade cryptocurrencies.
The most important feature is the degree of security that a particular exchange offers its customers. This is crucial when you are trading in an online environment. Therefore, if you are looking for a reliable exchange, you need to make sure that this is the first criteria. A crypto currency exchange is your guide to the world of crypto currencies.
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. When you join 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 benefit from advanced charting features and powerful indicators that allow you to spot the smallest changes in the market. In addition, the service offers an extensive list of currencies that can be traded. But it is fair to say that some of Coinbase's competitors have an even better variety of cryptocurrencies. The exchange system is very user-friendly, and even a novice will quickly learn to navigate the site. If you are going to use the exchange's crypto-currency wallet, you can be sure that it is well protected against hacking. Overall, this crypto currency exchange offers a really beneficial trading environment with all the features that a regular user might need. It is especially recommended for those new to crypto-currencies. Learn about its main features:
|Available currencies||23 pieces.|
|Fees and commissions||You pay $0.00 for all transactions up to $10.00; you pay $1.49 for transactions from $10 to $25.00; you pay $1.99 for transactions from $25 to $50.00; you pay $2.99 for transactions from $50 to $200.00. And for larger amounts, a fixed interest rate is applied, depending on the payment method.|
|Portfolio||A free online portfolio compatible with mobile devices.|
|Payments||All major payment methods - credit card, bank transfer, e-services.|
|Security||Two-factor authentication; traffic encryption with SLL protocols; wallet is encrypted with AES-256 protocols; only 2% of customer money is stored online and is secure.|
|Applications mobiles||For iOS and Android.|
This crypto-currency platform was founded in 2017. Despite its young age, it has managed to attract many traders. This is easily explained by one thing: the exchange offers its customers over 150 different cryptocurrencies. It is quite difficult to find a service that offers such an impressive selection of crypto-assets. Binance doesn't just work with digital currency - it also accepts fiat currency, although crypto-currencies still dominate. It also offers exchanges on its own token, BNB. Very quickly, the exchange reached a very high trading volume, which earned it a place among the most influential crypto platforms on the global stage. And its flexible and affordable fee system left its competitors far behind. The platform has managed to build a huge customer base in record time, with new users joining every day.
By registering on the site, you can make a deposit in crypto-currency or fiat currency. This feature makes the exchange accessible to literally anyone. The only drawback you might find here is the somewhat complicated setup. It can be a bit difficult for a newbie to navigate the service. Other than that, everything works fine.
|Available currencies||740 fiat en cryptocurrency paren.|
|Fees and commissions||A flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for NBB token transactions.|
|Portfolio||The mobile application is Trust Wallet.|
|Payments||All basic methods are supported - bank transfer, credit cards, electronic payments.|
|Security||The exchange has launched an exclusive monitoring system, CryptoSafeAlliance (CSA). It brings together a range of services aimed at improving the security of the platform.|
|Applications mobiles||Free application for iOS and Android.|
This exchange was launched in 2011. The service has grown at an impressive rate, and in just a few years it has become one of the leading exchanges in the market. It remains very popular with traders, as it offers a good selection of altcoins and fiat currencies. Although other exchanges offer more choices, Kraken has other advantages that entice customers to stay with it.
Users appreciate this exchange for its many technical features that are essential for successful trading - extensive charting tools and margin trading. Advanced traders benefit greatly from these features. Beginners may find it challenging at first, but with a little effort, they too can master the interface. Once you have successfully executed your first trades, things will speed up.
In short, this exchange has everything a trader could need on a daily basis. The only drawback worth mentioning is the insufficient choice of payment methods. So, before you decide to open an account on the site, make sure that you can deposit and withdraw your money freely. If you don't find the option you want, you may not feel comfortable working with this particular exchange.
|Available currencies||8 crypto-currencies.|
|Fees and commissions||For all transactions up to 50,000 defined tokens, the seller is charged 0.16% and the buyer 0.26%. For amounts above 50,000 defined tokens, the fee increases to 0.14% and 0.24% respectively.|
|Portfolio||No wallet for crypto-currencies.|
|Payments||Only direct crypto-currency transactions or bank transfers. Credit cards are not accepted on this platform.|
|Security||Two-factor authentication; PGP encryption; the exchange also uses a global lock on settings to prevent frequent account changes.|
|Applications mobiles||Kraken Pro и Kraken Futures.|
This exchange started in 2014. This was the time when crypto-currencies appeared on the global financial market and became an interesting tool for trading. The founders took the right approach by offering a really impressive selection of coins. This allowed traders to easily diversify their trading portfolios for better results. Moreover, the makers of the exchange have also added a virtual wallet to their service, allowing users to store their money safely on the platform. The site is very reliable as many security technologies have been implemented here for the safety of the clients.
|Available currencies||More than 250 pairs of transactions.|
|Fees and commissions||The exchange uses a flexible commission system, but there is a different commission for each piece.|
|Portfolio||Online wallet for crypto-currencies.|
|Payments||Cryptocurrencies, credit cards and bank transfers.|
|Security||Approximately 80% of all funds are stored in cold storage; 2-factor authentication; verification of IP address against email address when a user logs in using a new IP address; whitelisting of IP addresses.|
|Applications mobiles||Bittrex Global and the Bittrex application.|
This salon welcomed its first customer in 2014. And it only took a few years for it to attract thousands of traders. This is mainly due to its enticing margin trading offers. There was no other platform offering such attractive conditions for binary trading. For futures, for example, a trader could use leverage, which was a powerful method to multiply his income significantly. However, leverage is a tricky mechanism that always carries 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 sign up for the exchange with the intention of benefiting from margin trading.
|Available currencies||55+ exchange pairs.|
|Fees and commissions||No fees are charged for deposits and withdrawals. Users pay 0.075% of the total transaction amount for all transactions.|
|Portfolio||BitMex online portemonnee.|
|Payments||The service only accepts crypto-currencies.|
|Security||Funds stored in cold wallets; 2-factor authentication; SMS registration; multiple signature wallets.|
|Applications mobiles||Application Bitmex mobiele.|
This fair has been active since 2012 and is considered one of the first of its kind. All these years, it has managed to grow and remain popular. A winning feature of Bitfinex is margin trading. Many traders have been able to make steady profits with this feature. As already mentioned, you need to have some experience to use margin in trading. Otherwise, the risk of losing your investment is high.
Bitfinex doesn't have the largest selection of trading instruments on the market. But the platform has been accepting crypto and fiat assets since 2015, which has made it extremely popular among traders. Thanks to this feature, users from all over the world can use the exchange without any problems.
|Available currencies||140 crypto-currencies and over 300 trading pairs.|
|Fees and commissions||There are no fees for deposits and withdrawals. There is a 0.1% fee for all U.S. dollar transactions, but not less than $20. Cash transactions will be charged $60. Other transactions will be charged 0.1% for the originator and 0.2% for the beneficiary.|
|Portfolio||Three different portfolios are available - Margin, Exchange, Financial.|
|Payments||The service accepts crypto-currencies, credit cards and bank transfers.|
|Security||99.5% of the money is stored in cold wallets; several verification steps are required to access this money, so it is safe.|
It is another pioneer among crypto-currency exchanges. Localbitcoins arrived on 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 the volume of exchanges.
The platform allows any trader to find a profitable offer and discuss bets with other participants until you reach an agreement. You can open an escrow account to facilitate the trading process. The exchange has managed to create a really robust trading environment. This is why it is very popular, especially among those new to the industry. However, it is important to note that Localbitcoins operates at slightly higher rates 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 amount exchanged.|
|Portfolio||Crypto-currency wallet for btc.|
|Payments||Bank transfers, credit cards, electronic systems.|
|Security||2-factor authentication; blocked account system.|
The first transactions on this exchange were recorded in 2014. Since then, the platform has grown successfully. It offers more than 100 crypto-currency pairs to trade in a very secure environment. The service charges very low commissions and offers its clients many benefits. For example, the larger the volume you trade, the lower the commission.
Poloniex applies separate commissions for takers and makers. This is to encourage traders to open more positions, as makers pay a very small commission to do so. There is a whole list of other benefits for registered traders at Poloniex, such as chat, analysis tools, news feeds and much more. The website has a very easy to navigate interface.
|Available currencies||100+ castaparen.|
|Fees and commissions||All deposits are free. Withdrawal fees are set for each specific currency. Separate fees for deposit acceptance and execution.|
|Portfolio||Online wallet for crypto-currencies.|
|Payments||Payment methods vary depending on the country in which the merchant lives.|
|Security||2-factor account authentication.|
It is one of the youngest exchanges listed in Singapore in 2017. Despite its age, the platform was founded by very experienced market players. Thus, the service has everything that is necessary to succeed in crypto-currency trading. Thanks to its cutting-edge features, it immediately gained popularity and attracted users from almost every country in the world.
One of the winning features is the high-end security system implemented on the exchange. It can be compared to that of the most reputable banks. It uses high quality encryption and multi-step authentication. So far, there has not been a single case of hacking on this platform. But it is still too early to judge the security of this exchange, as it does not exist on the market yet.
|Available currencies||200 coins and 450 currency pairs.|
|Fees and commissions||All deposits are free. Withdrawal fees are set for each specific currency. A flat rate 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 crypto-currency trading accessible and easy for everyone. To this end, the founders created an easy-to-use website that even a complete beginner can navigate effortlessly. This approach has worked well, as the exchange has attracted over a million users in just a few years.
Apart from crypto-currencies, you can also 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 sector, you can trade between digital assets and metals. The company has many affiliates around the world that offer additional earning opportunities. You can invest in your own trading token and use it to minimize transaction costs.
|Available currencies||30+ cryptocurrencies.|
|Fees and commissions||All deposit and withdrawal fees are set for each specific currency. The same approach works for cryptocurrency trading.|
|Portfolio||Bitpanda cryptocurrency wallet.|
|Payments||Bank transfers, credit cards, electronic systems.|
|Security||Two-factor authentication at every login. Cold storage of funds. Confirmation by email address.|
Coinmama is another decent source for crypto-currency trading. It was launched in 2013, when crypto-currencies first appeared in the global financial system. You should not treat the platform as an exchange service. Technically, you are buying and selling assets on the exchange itself.
The selection of crypto-currencies on this platform is not very large. If you buy bitcoins through a credit card, be aware that there is a limit to the amount you can buy. And don't forget to check what commission will be charged on the amount you want to redeem. The site accepts many payment channels. You will also find decent multilingual support, as the exchange is aimed at the global market. The only drawback is that there is no wallet for crypto-currencies on this platform. Otherwise, it is a good option for beginners.
|Available currencies||10+ cryptocurrencies.|
|Fees and commissions||A service fee is charged for the use of the bank card. Fixed fee for selling and buying cryptocurrencies.|
|Portfolio||There is no portfolio.|
|Payments||Bank transfers, credit cards, electronic systems, SEPA and SWIFT payments.|
|Security||Trust Guard and Comodo security technology.|
This exchange started serving traders in 2015 and was registered in the United States. From the beginning, the service targeted a global audience, with customers from Europe and the United States. The platform itself is quite simple, with decent security and affordable fees. In other words, you could call Paxful a P2P exchange. When you first start here, you need to build your portfolio. You can view other traders' portfolios and evaluate their reliability before confirming a trade.
One of the main drawbacks of this service is that it only allows you to trade in bitcoins. In fact, you can use a whole list of currencies to pay with bitcoins. But when it comes to a sale transaction, you can only sell bitcoins. A 1% commission is applied to all sales, while purchases are free. The exchange supports several payment methods.
|Fees and commissions||A 1% commission is applied to all sales, while purchases are free. An additional commission may be charged depending on the payment method chosen.|
|Portfolio||Paxful portemonnee app.|
|Payments||All known payment methods are supported.|
|Security||Mandatory authentication procedure; 2-factor authentication.|
|Applications mobiles||Paxful portemonnee app.|
This scholarship is based in Denmark. It was launched in 2013. It was created to offer individuals the largest possible selection of crypto-currencies. Currently, the exchange offers over 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, which allows any new customer to try the service for free. All client funds are protected by the most secure technology. The exchange allows you to trade large volumes.
The downside of the platform is that it does not accept fiat currency. Only crypto-currencies can be traded here. But to overcome this drawback, the exchange has added a special built-in system where you can buy digital coins and pay with a bank card. But in this case, you will have to pay a higher fee.
|Available currencies||800 exchange pairs.|
|Fees and commissions||All deposits are free. Withdrawal fees are set for each specific currency. Multi-level trading system.|
|Portfolio||No wallet for crypto-currencies.|
|Payments||Only crypto-currencies are accepted.|
|Security||2-factor authentication; high-level encryption technology.|
As you can see, the market is full of excellent stock markets. You must now analyze your needs and choose the one that best meets your expectations.