Cryptocurrency exchange South Africa 2021
Digital assets are on the rise
Until 2009, no one had ever heard of cryptocurrencies. But the invention of Bitcoin initiated the creation of thousands of new electronic currencies, making the choice truly enormous. Logically, this new type of money immediately aroused great interest in turning cryptocurrencies into a powerful trading instrument. The main reason was 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 did not have a directly assigned value. All this led to drastic price fluctuations for all digital currencies in the first few years of their existence. It is still not stable, but a clear trend has emerged in recent years.
Some currencies proved reliable enough to attract the attention of traders. This is how cryptocurrencies came to an exchange where they could be freely traded. The process is quite simple: traders exchange one asset for another with the aim of holding it until its price rises. The popularity of this activity has led to the emergence of many new exchanges around the world. And all of them operate quickly and respond to all market changes.
What is a cryptographic 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. Therefore, you can sell and buy both fiat currencies and cryptocurrencies in any combination.
In fact, there is nothing special about the exchange service. All you have to do is register on the chosen platform and start trading. These services connect real people who want to exchange 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 hold 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 which is largely influenced by various external factors, the most important of which are supply and demand. It can be explained that cryptocurrencies are quite unique and have no real value.
To create your account on a cryptocurrency exchange, you need an active virtual wallet. This is a service for storing your cryptocapital. You will use the wallet address to transfer money to the exchange account. Check if a particular exchange accepts the coins you want to sell. Some exchanges offer their own integrated wallets, which are well protected.
Once you have filled your currency account through the wallet, you can create a buy or sell order in the system. Once the other interested customer sees your offer and agrees with the prices and other details, you will initiate the transaction. Thus, the purpose of the exchange is to help people make mutually beneficial deals. Always check the requirements for this type of transaction, as they may be slightly different on different websites.
What influences the value of cryptocurrencies?
Digital assets are always very volatile and their value is difficult to predict.
Before you start actively trading on reputable cryptocurrency exchanges, you should learn more about cryptocurrencies, especially about 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. That amount is really nothing when it comes to a currency. This is the reason why the Bitcoin is so highly valued. This currency is already approaching its supply limit, so fluctuations are inevitable when no more coins are expected to circulate. 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 influencing demand. It is important to take into account all the advantages that a particular currency offers, as well as the regulations that apply to different currencies. Once you know the interest in a particular currency, you can roughly predict 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. Cryptocurrencies may lose their current value. But the acceptance 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.
Review of Exchanges
Nowadays, there are many cryptocurrency exchanges and an average user usually has trouble choosing one. Sometimes these services have similar offers, but still there are 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 transacting in an online environment. So, if you are looking for a trusted exchange, make sure that this is the most important criterion. A cryptocurrency exchange is your guide in the world of cryptocurrencies.
It is one of the largest exchanges. It started operating in 2012, shortly after the invention of bitcoin. It is based in the United States and operates according to all the rules that apply here. Once you have joined the platform, you can use one of two accounts: Standard and Pro. This exchange charges high fees for a Standard account, while a Pro account comes with many benefits. Pro account holders enjoy advanced charting features and effective indicators that allow you to detect even the slightest changes in the market. The service also offers an extensive list of currencies to trade. However, it is fair to mention that some of Coinbase's 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. If you use the exchange's cryptocurrency wallet, you can rest assured that you are well protected against hacks. Overall, this cryptocurrency exchange offers a really favorable trading environment with all the features that an average user needs in his work. It is especially recommended for newcomers to cryptocurrency creation. Familiarize yourself with the most important functions:
|Coins available||23 coins.|
|Fees and commissions||You pay $0.00 for all bets under $10; you pay $1.49 for bets from $10 to $25; you pay $1.99 for bets from $25 to $50; you pay $2.99 for bets from $50 to $200. And for higher amounts, a flat fee is charged depending on the payment method.|
|Cartera||A free online wallet compatible with mobile devices.|
|Payments||All major payment methods: bank card, bank transfer, electronic services.|
|Security||Two-factor authentication; encryption of data traffic with SLL protocols; the wallet is encrypted with AES-256 protocol; only 2% of client funds are kept online and protected.|
|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 easily explained by one thing: the exchange offers its customers more than 150 different cryptocurrencies. It is quite difficult to find a service with such an impressive selection of cryptocurrencies. Binance not only works with digital money, but also accepts fiat money, even though cryptocurrencies still dominate. It also offers trading of its own token: the BNB. Soon, the exchange reached a very high trading volume, rightfully placing it among the most influential cryptocurrency platforms on the global scene. And a flexible and affordable fee system left its competitors far behind. In record time, the platform managed to build a huge customer base, with new users joining every day.
By registering on the site, you can make a deposit in cryptocurrency or fiat money. This feature makes the exchange literally accessible to everyone. The only drawback you may encounter here is the somewhat complicated setup. For a beginner, it can be a bit difficult to find your way around the service. Other than that, it works very well.
|Coins available||740 pairs of fiat e cryptographic.|
|Fees and commissions||A flexible and competitive commission system. 0.01% is paid for a transaction and only 0.075% for transactions with NBB tokens.|
|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 enhance the security of the platform.|
|Mobile applications||A free app for iOS and Android.|
This exchange came to 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 popular among traders as it offers a good selection of altcoins and fiat currencies. While other exchanges offer a wider selection, Kraken has other strong features that encourage customers to stick with it.
Users appreciate this exchange for its various technical options, which 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 interface. Once you have successfully completed your first few trades, things will move more quickly.
In short, this exchange offers everything a trader needs for his daily routine. The only flaw worth mentioning is the insufficient selection of payment options. Therefore, before you decide to open an account on the website, you should check whether you can deposit and withdraw freely. If you do not find the option you want, you may not be convenient to work with that particular exchange.
|Coins available||8 Cryptocurrencies.|
|Fees and commissions||For all transactions up to 50,000 of a given token, the seller is charged 0.16% and the buyer 0.26%. For amounts above 50,000 of a given currency, the commission changes accordingly to 0.14% and 0.24%.|
|Cartera||There is no cryptocurrency portfolio.|
|Payments||Only direct transactions from crypto-wallets or a 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 y Kraken Futuros.|
This exchange was launched in 2014. It was the time when cryptocurrencies made their way into the global financial market and became an interesting tool for trading. The founders did their job well, offering a really impressive selection of coins. They have allowed traders to easily diversify their trading portfolio for a better result. In addition, the creators of the exchange have also included a virtual wallet in their services, which allows users to keep their funds safe on the platform. The website is very reliable, as many protection technologies have been implemented for the safety of the clients.
|Coins available||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 cryptographic wallet.|
|Cryptocurrency wallets, bank cards and bank transfers.|
|Security||About 80% of all funds are kept in cold storage; two-factor authentication; IP verification via email address as soon as a user connects via a new IP address; IP whitelisting.|
|Mobile applications||Bittrex Global y Bittrex App.|
This exchange accepted its first customer in 2014. And it has only taken a few years to attract thousands of traders. This was mainly due to the tempting margin trading offers. There was no other platform with such attractive conditions for binary trading. For example, in the future, a trader could use leverage, which was a powerful way to significantly multiply returns. At the same time, leverage is a complicated mechanism that always involves high financial risk. Therefore, trading on margin is advisable only for traders with sufficient experience in the market.
Bitmex is a reliable platform. The registration process is more than simple. It is an excellent compromise between ease of use and numerous additional options. Traders register with the exchange time and time again to benefit from the advantages of margin trading.
|Coins available||55+ Handelspaare.|
|Fees and commissions||No commissions are charged for deposits and withdrawals. For all transactions, users pay 0.075% of the total transaction value.|
|Cartera||BitMex online wallet.|
|Payments||The service only accepts cryptographic wallets.|
|Security||Funds held in cold wallets; two-factor authentication; SMS registration; multi-signature wallets.|
|Mobile applications||Bitmex mobile application.|
This exchange has been operating since 2012 and is considered one of the first services of its kind. It has managed to grow and remain popular all these years. The most prominent feature of Bitfinex is margin trading. Many traders have been able to make a steady profit with this facility. As I have already mentioned, you need to have some experience to use margin in your trades. Otherwise, there is a high risk of losing your investments.
Bitfinex doesn't have the largest selection of trading instruments on the market. But the platform has been accepting both cryptocurrencies 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.
|Coins available||140 cryptocurrencies and more than 300 trading pairs.|
|Fees and commissions||No fees are charged for deposits and withdrawals. All dollar transactions are charged a 0.1% fee with a minimum of $20. The fee for fiat money transactions is $60. For all other transactions, the service charges 0.1% for the sender and 0.2% for the receiver.|
|Cartera||Three different portfolios available - Margin, Foreign Exchange, Financing.|
|Payments||The service accepts cryptocurrency wallets, bank cards and bank transfers.|
|Security||99.5% of all money is stored in cold wallets. To access this money, multi-level authentication is required to keep it securely protected.|
It is another pioneer among cryptocurrency exchanges. The main feature is that it originally started as a peer-to-peer (P2P) service and did not focus so much on trading 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 rates with other participants until an agreement is reached. You can open an escrow account to simplify the transaction process. The exchange has managed to create a truly reliable environment for trading. As a result, it is especially popular among industry insiders. However, it is important to note that Localbitcoins operates with slightly higher fees than other similar services.
|Coins available||Only Bitcoin is traded here.|
|Fees and commissions||Buyers pay no commission, while sellers are charged 1% of the traded value.|
|Cartera||Cryptocurrency wallet for btc.|
|Payments||Bank transfers, bank cards, electronic systems.|
|Security||Two-factor authentication; escrow account system.|
The first transactions on this exchange were recorded in 2014. Since then, the platform has developed quite well. It offers more than 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 commissions you will be charged.
Poloniex charges separate fees for takers and makers. This is to encourage traders to open more positions, as manufacturers only pay very small commissions. There are a whole host of other benefits for traders registered with Poloniex - these include chat boxes, analysis tools, news and more. The site has a very easy to navigate interface.
|Coins available||More than 100 currency pairs.|
|Fees and commissions||All deposits are free of charge. Withdrawal fees are fixed for each currency. Shared commissions for borrowers and manufacturers.|
|Cartera||Online cryptographic wallet.|
|Payments||Payment methods differ depending on the country in which the merchant is located.|
|Security||Two-factor account authentication.|
It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform has been developed by very experienced market participants. Therefore, the service has everything necessary for successful cryptocurrency trading. Thanks to its modern features, it immediately gained popularity and attracted users from almost all countries of the world.
One of the most notable features is the first-class protection system of the exchange. It is comparable to that used by the most renowned banks. In this case, high-level encryption and multilevel authentication are used. 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, as it has not been on the market for a long time.
|Coins available||200 chips and 450 currency pairs.|
|Fees and commissions||All deposits are free of charge. The withdrawal fee is fixed for each currency. A fixed commission of 0.10% is charged for all transactions.|
|Payments||All major payment channels are supported, including electronic systems.|
|Security||Two-factor authentication by Google.|
Originally, the exchange was 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 do this, the founders created a user-friendly website where even an absolute novice could easily find his way around. This approach was successful, as the exchange attracted more than one 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 very easy. Once you have enough experience in the industry, you can trade between digital assets and metals. The company has many offices around the world that offer additional ways to make money. You can invest in the exchange's own token to minimize your operating expenses.
|Coins available||More than 30 cryptocurrencies.|
|Fees and commissions||All deposit and withdrawal fees are set for each currency individually. The same approach applies to cryptocurrency trading.|
|Cartera||Bitpanda cryptocurrency wallet.|
|Payments||Bank transfers, bank cards, electronic systems.|
|Security||Two-factor authentication for each login. Cold storage of funds. Validation via e-mail address.|
Coinmama is another good source for cryptocurrency trading. It began operating in 2013, when cryptocurrencies had firmly entered the global financial system. You should not think of the platform as an exchange service. Technically, you buy and sell assets on the exchange itself.
The selection of cryptocurrencies is not that large on this platform. Once you buy bitcoins with your credit card, be prepared that the amount you can buy is limited. And don't forget to check what commission is charged for the amount you want to exchange. There are enough payment options accepted on the website. You will also find good multilingual support, as the exchange is geared towards the global market. The only drawback is that there is no cryptocurrency wallet on this platform. Other than that, it is a good option for beginners.
|Coins available||More than 10 cryptocurrencies.|
|Fees and commissions||A service fee is charged for the use of a bank card. Fixed fees for buying and selling cryptocurrencies.|
|Cartera||No portfolio available.|
|Payments||Bank transfers, bank cards, electronic systems, SEPA and SWIFT payments.|
|Security||Comodo and fiduciary custody protection technologies.|
This exchange was registered in the United States in 2015 and has been offering its services to traders ever since. From the beginning, the service targeted a global audience and accepted clients from Europe and the United States. The platform itself is kept fairly simple, with reliable protection and affordable fees. In other words, Paxful can be described as a P2P exchange. When you start working here, you will need to create your wallet. You can browse other traders' portfolios and assess their reliability before confirming a trade.
One of the major shortcomings of this service is that it only allows you to exchange bitcoin. In fact, you can use a whole range of currencies to pay with Bitcoin. But when it comes to a sale transaction, you can only sell Bitcoins. There is a 1% fee on all sales, while purchases are free. The exchange supports a variety of payment options.
|Fees and commissions||A 1% fee is charged on all sales, while purchases are free of charge. Depending on the chosen payment method, an additional fee may apply.|
|Cartera||The Paxful wallet application.|
|Payments||All known payment methods are supported.|
|Security||Mandatory verification procedure; two-factor authentication.|
|Mobile applications||Paxful wallet application.|
This exchange is located in Denmark. It was founded in 2013. The service was founded with the aim of offering individuals the widest possible range of cryptocurrencies. Currently, the exchange offers more than 800 trading pairs. You can even find 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 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. To get around this drawback, the exchange has incorporated a special system where you can buy digital coins and pay with a bank card. In that case, however, you have to pay higher commissions.
|Coins available||800 commercial spare parts.|
|Fees and commissions||All deposits are free of charge. Withdrawal commission is fixed for each currency. Multi-level trading system.|
|Cartera||There is no cryptocurrency portfolio.|
|Payments||Only cryptocurrencies are accepted.|
|Security||two-factor authentication; high-level encryption technology.|
As you can see, the market is full of excellent exchanges. Now you have to analyze your needs and choose the exchange that best meets your expectations.