Cryptocurrency exchange South Africa 2021
Digital assets are on the rise
No one had heard of cryptocurrencies before 2009. But the invention of bitcoin spurred the creation of thousands of new electronic currencies, making the choice truly enormous. Logically, this new type of currency immediately aroused great interest in turning cryptocurrency into a powerful trading instrument. And this was mainly motivated by its 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 in all digital currencies during the first years of their existence. It is still not stable, but a clear trend has emerged in recent years.
Some currencies have proven to be reliable enough to attract the attention of traders. Thus, cryptocurrencies paved the way for an exchange, where they could be traded freely. The process is quite simple: traders exchange one asset for another with the aim of holding it until its price rises. The popularity of these activities has led to the emergence of many new exchanges around the world. And they all operate quickly, reacting to any changes in the market.
What is a cryptocurrency exchange?
Before comparing the best stock exchanges in the world, it is essential to understand how they work.
A cryptocurrency exchange is a service that allows you to exchange cryptocurrencies. There are many platforms that accept both fiat currency and cryptocurrencies. Therefore, you can buy and sell both fiat currency and cryptocurrencies in any combination.
In fact, there is nothing special about making trades. All you have to do is register on the chosen platform 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 initiate the transaction. You can then hold the funds you receive until their value increases and trade them back.
Cryptocurrencies are traded in the same way as any other asset. There is a certain market value, which is largely influenced by multiple external factors, the main ones being supply and demand. It can be explained that cryptocurrencies are quite unique and have no real-world value.
In order to deposit your account in a cryptocurrency exchange, you must have an active virtual wallet. This is a storage service for your cryptocapital. You will use the wallet address to send funds to the exchange account. Check if a particular exchange accepts the coins you are going to sell. Some exchanges offer their own integrated wallets that are well protected.
Once you have filled your portfolio trading account, you can create a buy or sell order in the system. Once the other interested customer sees your offer and is satisfied with the fees and other details, you initiate the transaction. The goal of the exchange is therefore to help people make mutually beneficial transactions. Always check what the exchange conditions are for these types of transactions, as they may differ slightly in different locations.
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, be sure to learn more about cryptocurrencies, especially what affects their value. It would be 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. That amount is really nothing when it comes to any currency. That's why the value of bitcoin is so high. The currency is already approaching its supply limit, so fluctuations are inevitable when no more coins are expected to be in circulation. At least that is the opinion of the 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 essential to take into account all the advantages of a particular currency, as well as the regulations in force for the different currencies. Once the level of interest in a particular currency is known, the extent to which demand affects its value can be roughly predicted.
- 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 adoption 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 are the most crucial factors.
Review of exchanges
Today, many cryptocurrency exchanges can be found and an average user often finds it difficult to know which one to choose. Sometimes, these services may have similar offers, but differences remain. Therefore, it is important to know these nuances and understand how they differ if you plan to exchange cryptocurrencies.
The most important feature is the level of security that a particular exchange offers its clients. This is crucial when trading in an online environment. Therefore, when looking for a reputable exchange, make sure that this is the number one criterion. A cryptocurrency exchange is your guide in the world of cryptocurrencies.
It is one of the largest exchanges. It began operating in 2012, shortly after the invention of bitcoin. It is based in the United States and operates under all the regulations required here. Once you have joined the platform, you can use one of two accounts: standard and pro. This exchange has high fees for a standard account, while a pro account comes with many benefits. Account holders can take advantage of advanced charting capabilities and effective indicators to detect the slightest changes in the market. In addition, the service offers an extensive list of currencies to trade. But it would be fair to mention that some of Coinbase's competitors have an even better variety of cryptocurrencies. The trading system is very easy to use, and even a beginner will quickly learn how to navigate the site. If you plan to use the exchange's cryptocurrency wallet, you can rest assured that it is well protected against hacks. Overall, this cryptocurrency exchange offers a really favorable environment for trading, with all the features that an average user may need in the process of work. It is especially recommended for newcomers to the cryptocurrency sphere. Learn about the main features:
|Coins available||23 pieces.|
|Fees and commissions||You pay $0.00 for any transaction under $10; you pay $1.49 for transactions between $10 and $25; you pay $1.99 for transactions between $25 and $50; you pay $2.99 for transactions between $50 and $200. And for higher amounts, a fixed interest rate applies, depending on the method of payment.|
|Cartera||A free online wallet compatible with mobile devices.|
|Payments||All major payment methods: credit card, bank transfer, electronic services.|
|Security||Two-factor authentication; encryption of 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. Despite its youth, 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 cryptoassets. Binance does not only work with digital currency, it also accepts fiat currency, although cryptocurrencies still dominate. It also offers trading with its own token: BNB. Quickly, the exchange reached a very high volume that allowed it to take its place among the most influential cryptocurrency platforms on the world stage. 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 appearing every day.
By registering on the site, you can make a deposit in cryptocurrency or fiat currency. This feature makes the exchange accessible to literally everyone. The only drawback you may encounter here is the somewhat complicated setup. It can be a bit difficult for a beginner to navigate the service. Other than that, it works perfectly.
|Coins available||740 pairs of fiat e cryptographic.|
|Fees and commissions||A flexible and competitive commission system. It pays 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, credit cards, electronic payments.|
|Security||The exchange has implemented a unique monitoring system: CryptoSafeAlliance (CSA). It combines a number of services designed to enhance the platform's security.|
|Mobile applications||A free app for iOS and Android.|
This exchange entered the market in 2011. The service grew at an impressive pace and within a few years became one of the leading exchanges in the market. It remains popular among traders as it offers a good selection of altcoins and fiat currencies. While other exchanges have a wider selection, Kraken has other strong features that encourage customers to stick with it.
Users value this exchange for the many technical possibilities that are vital to successful trading activities: 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, they too can master the interface. Once you have successfully completed your first few trades, things will start moving faster.
In short, this bag has everything a trader may need for his daily routine. The only flaw to mention is the insufficient choice of payment methods. Therefore, before deciding to create an account on the site, check whether you will be able to freely deposit and withdraw your funds. If you do not find the desired option, it may not be practical for you to work with that particular exchange.
|Coins available||8 cryptocurrencies.|
|Fees and commissions||For all transactions up to 50,000 of a given down payment, the seller is charged 0.16% and the buyer 0.26%. For amounts above 50,000 of a given down payment, the commission increases to 0.14% and 0.24% respectively.|
|Cartera||There is no cryptocurrency portfolio.|
|Payments||Only direct transactions from crypto-wallets or bank transfer. Credit 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. That was the moment when cryptocurrencies entered the global financial market and became an interesting instrument for trading. Its founders approached the task correctly by offering a really impressive selection of coins. This allowed traders to easily diversify their trading portfolio for a better result. In addition, the creators of the exchange have also added a virtual wallet to their service, allowing users to securely store their funds on the platform. The site is quite reliable, as numerous protection technologies have been put in place for the safety of customers.
|Coins available||More than 250 pairs of transactions.|
|Fees and commissions||The exchange uses a flexible commission system, but there are different rates for each currency.|
|Cartera||Online cryptographic wallet.|
|Payments||Cryptocurrency wallets, bank cards and bank transfers.|
|Security||Approximately 80% of all funds are cold-stored; two-factor authentication; IP verification via email address when a user connects 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 has only taken a few years to attract thousands of traders. This was mainly due to its attractive margin trading offers. There was no other platform with such attractive conditions for binary trading. For example, in the case of futures contracts, a trader could use leverage, which was a powerful method to multiply profits considerably. At the same time, leverage is a complicated mechanism that is always associated with high financial risk. Therefore, trading on margin is only recommended to 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 a large number of additional opportunities. Traders continue to join the exchange with the intention of enjoying the benefits of margin trading.
|Coins available||More than 55 currency pairs.|
|Fees and commissions||There are no commissions 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 cryptocurrency wallets.|
|Security||Funds are stored 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 winning feature of Bitfinex is margin trading. Many traders have managed to make a steady profit by taking advantage of this opportunity. As I mentioned before, you need to have some experience to use margin in your trades. Otherwise, the risk of losing your investments is high.
Bitfinex does not have the largest selection of trading instruments on the market. But the platform has been accepting 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 use the exchange without any problems.
|Coins available||140 cryptocurrencies and more than 300 trading pairs.|
|Fees and commissions||There are no commissions for deposits and withdrawals. For all dollar transactions, 0.1% is charged, but not less than $20. The fee for cash transactions is $60. For all other transactions, the service charge is 0.1% for the originator and 0.2% for the borrower.|
|Cartera||Three different portfolios are available: Margin, Foreign Exchange and Financing.|
|Payments||The service accepts cryptocurrency wallets, credit cards and bank transfers.|
|Security||99.5% of all funds are stored in cold wallets; multi-step authentication is required to access this money, which is therefore securely protected.|
It is another pioneer among cryptocurrency exchanges. Local coins entered 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 trading volume. although the service is global, its customers have a local trading experience.
The platform allows each operator to find a favorable offer and discuss rates with other participants until an agreement is reached. You can open a deposit account to facilitate the trading process. The exchange has managed to create a really reliable environment for trading. Therefore, it is quite popular, especially among industry insiders. However, it is important to mention 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||Encrypted 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 come a long way. It offers more than 100 cryptocurrency pairs for trading in a very reliable environment. The service charges very low commissions and offers many advantages to its customers. For example, the higher the trading volume, the lower the commissions you will have to pay.
Poloniex applies separate fees for takers and makers. This is done to encourage traders to open more positions, as manufacturers pay a very low commission for it. There is a whole list of other benefits for traders registered with Poloniex - these include chat boxes, analysis tools, a news feed and much 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 fee is fixed for each individual piece. Separate fee for takers and manufacturers.|
|Cartera||Online cryptographic wallet.|
|Payments||Payment methods differ according to the merchant's country of residence.|
|Security||Two-factor account authentication.|
It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform was created by very experienced market players. 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 winning features is a high-level protection system implemented in the exchange. It can be compared to that used by the most reputable banks. High-level encryption and multi-stage authentication are applied. So far, there have been no cases of hacking on this platform. But it is too early to assess the security of this exchange, due to its insufficient existence on the market.
|Coins available||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 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, the name was changed to Bitpanda. The goal of the platform was to make cryptocurrency trading accessible and easy for anyone. To achieve this, the founders created a user-friendly website that even a complete beginner could navigate effortlessly. This approach has worked well, as the exchange has attracted over a million users in just a few years.
In addition to cryptocurrencies, you can also trade other instruments: silver and gold. The platform offers automatic tools that facilitate cryptocurrency trading. Once you have enough experience in the industry, you can trade between digital assets and metals. The company has many branches around the world that offer additional opportunities to make money. You can invest in the exchange's own token and use it to minimize your operating costs.
|Coins available||More than 30 cryptocurrencies.|
|Fees and commissions||All deposit and withdrawal fees are fixed for each particular currency. The same approach works for cryptocurrency transactions.|
|Cartera||Bitpanda cryptocurrency wallet.|
|Payments||Bank transfers, bank cards, electronic systems.|
|Security||2-factor authentication for each connection. Cold storage of funds. Validation by e-mail address.|
Coinmama is another decent resource for cryptocurrency trading. It started operating in 2013, when cryptocurrencies entered the global financial system with a bang. You should not treat the platform as an exchange service. Technically, you are buying and selling assets on the exchange itself.
The cryptocurrency offer is not very wide on this platform. When buying bitcoins through your credit card, be prepared for a limit on the amount you can buy. And don't forget to check what commission you will be charged for the amount you wish to trade. There are enough payment channels accepted on the site. Moreover, you can find decent multilingual support as the exchange is globally focused. The only drawback is that there is no cryptocurrency wallet on this platform. Other than that, it is a good option for a beginner.
|Coins available||More than 10 cryptocurrencies.|
|Fees and commissions||A service charge applies for the use of a bank card. A flat fee for buying and selling cryptocurrencies.|
|Cartera||No scholarships are available.|
|Payments||Bank transfers, credit cards, electronic systems, SEPA and SWIFT payments.|
|Security||Comodo and fiduciary custody protection technologies.|
This exchange began serving traders in 2015, it was registered in the United States. Since its appearance, the service has been aimed at a global audience, accepting customers from Europe and the United States. The platform itself is quite basic, with reliable protection and affordable rates. In other words, you could call Paxful a P2P exchange. If you start working here, you will need to build your wallet. You can browse other traders' portfolios and assess their reliability before confirming a trade.
One of the main shortcomings of this service is that it only allows you to exchange bitcoins. In fact, you can use a whole list of currencies to pay in bitcoins. But when it comes to a sale transaction, you can only sell bitcoins. A 1% fee is applied to all sales, while purchases are free. The exchange supports a wide range of payment methods.
|Fees and commissions||A 1% commission is applied to all sales, while purchases are free of charge. An additional commission may be applied depending on the chosen payment method.|
|Cartera||The Paxful portfolio application.|
|Payments||All known payment methods are supported.|
|Security||Mandatory verification procedure; two-factor authentication.|
|Mobile applications||Paxful portfolio application.|
This grant is based in Denmark. It was launched in 2013. The service was created with the aim of offering individuals as wide a choice of cryptocurrencies as possible. Currently, the exchange offers more than 800 currency pairs. You will be able to 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 technologies. The exchange allows you to trade large volumes.
The disadvantage of the platform is that it does not accept fiat currency. Only cryptocurrencies can be traded there. 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 that case, you will have to pay higher commissions.
|Coins available||800 currency pairs.|
|Fees and commissions||All deposits are free of charge. Withdrawal rate is fixed for each individual 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 one that best meets your expectations.