Cryptocurrency platform South Africa 2021
          

Digital assets are on an upward spiral

Until 2009, no one had heard of cryptocurrencies. But the invention of bitcoin has spurred the creation of thousands of new electronic currencies, making the choice truly enormous. Logically, this new type of money immediately aroused great interest in making cryptocurrency a powerful commercial instrument. And this was mainly justified by its high volatility.

In the early days, you could find very different prices for the same cryptocurrency, including bitcoin. And because these new currencies only existed in the electronic space, they had no 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 in recent years there is a clear trend.

Some coins have proven so reliable that they have caught the attention of traders. Thus, cryptocurrencies have made their way to the stock exchanges, where they can be freely traded. The whole process is quite simple - traders exchanged one asset for another with the intention of holding it until its price rises. The popularity of this has led to the creation of many new exchanges around the world. And they all work by reacting quickly to all changes in the market.

Wat is a cryptocurrency exchange?

Before comparing the world's major exchanges, it is important to understand how they work.

Cryptocurrency exchange is a service that allows you to exchange cryptocurrencies. Many platforms accept both fiat money and cryptocurrencies. You can therefore sell and buy both fiat and cryptocurrencies in any combination.

In fact, there is nothing special about the way a stock exchange works. All you have to do is register on the platform of your choice and start trading. These sites connect real people who want to trade their digital assets. All you have to do is enter the amount you want to sell or buy and start trading. You can then hold the funds you receive until their value increases and trade them further.

Cryptocurrencies are traded like any other asset. There is a certain market value, which largely depends on various external factors, the most important of which are supply and demand. It can be explained that cryptocurrencies are quite unique and have no value in the real world.

To fund your account on a cryptocurrency exchange, you must have an active virtual wallet. This is a service used to store your cryptocurrency capital. You will use the address of your wallet to transfer funds to your exchange account. Check to see if the exchange in question accepts the coins you intend to sell. Some exchanges offer their own built-in wallets, which are well secured.

Once you have updated your trading account from your wallet, you can create a buy or sell order in the system. When the other interested client sees your offer and is satisfied with the fees and other details, you initiate the transaction. The purpose of an exchange is therefore to help people make mutually beneficial transactions. Always check what the exchange requirements are for such transactions, as they may vary slightly from location to location.

What influences the value of cryptocurrencies?

Digital assets are always highly volatile and their value is difficult to predict.

Before you start actively trading on reputable cryptocurrency exchanges, you should first learn more about cryptocurrencies, and especially about what influences their value. It would be impossible to list all the factors, but here are the most important ones you should take into account.

  • 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 bitcoin can be mined. That amount is really nothing when it comes to any currency. This is why bitcoin is so highly valued. This currency is already approaching its stock limit, so fluctuations are inevitable when no more coins are expected to be in circulation. At least that is the opinion of the big 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 important to consider all the advantages that a particular currency offers, as well as the regulations that apply to the different currencies. Knowing the level of interest in a particular currency allows you to predict the approximate impact of demand on 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 adoption of cryptocurrency is inevitable and will be reflected in its 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 crucial.

Stock Market Overview

Currently, you can find many cryptocurrency exchanges, and the average user often struggles with choosing one. Sometimes these services have similar offerings, but there are still differences. Therefore, if you plan to trade in cryptocurrencies, it is important to learn about these nuances and understand how they differ.

The most important characteristic is the degree of security that this or that exchange offers its customers. This is crucial when you are transacting in an online environment. Therefore, when you are looking for a reliable exchange, make sure that this is the first criterion. A cryptocurrency exchange is your guide into the world of cryptocurrencies.

Coinbase

It is one of the largest exchanges. It started operating in 2012, shortly after Bitcoin was invented. It is based in the United States and operates under all the regulations required here. Once 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 enjoy advanced charting capabilities and effective indicators that allow you to see even the smallest changes in the market. In addition, the service offers an extensive list of currencies to trade. But it must be said that some of Coinbase's competitors have an even better variety of cryptocurrencies. The exchange system is very easy to use and even a novice 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 hacking. Overall, this cryptocurrency exchange offers a truly beneficial trading environment, with all the features that the average user may need in the work process. It is especially recommended for newcomers to the cryptocurrency sphere. Take a look at the most important aspects:

Available currencies                                       23 coins.
Fees and commissions For all transactions under $10 you pay $0.00; for transactions $10-$25 you pay $1.49; for transactions $25-$50 you pay $1.99; for transactions $50-$200 you pay $2.99. And for higher amounts, a fixed interest rate is charged depending on the payment method.
Portfel A free online wallet that is compatible with mobile devices.
Payments All major payment methods - bank card, bank transfer, e-services.
Security Two-factor authentication; traffic encryption with SLL protocols; wallet is encrypted with AES-256 protocols; only 2% of customers' money is kept online and they are insured.
Mobile Applications For iOS and Android.

Binance

This cryptocurrency platform was founded in 2017. Although it is still young, it has managed to attract many traders. This can be 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 cryptocurrency assets. Binance doesn't just work with digital money - it also accepts fiat money, even though cryptocurrencies still dominate. It also offers trading of its own token - the BNB. Very soon, the exchange reached a very high volume, which allowed it to legitimately take its place among the most influential cryptocurrency platforms on the world stage. And its flexible and affordable pricing system left the competition far behind. In record time, the platform managed to build a huge customer base, with new users joining the service every day.

By registering on the site, you can deposit in cryptocurrencies or fiat money. This feature makes the exchange accessible to literally anyone. The only drawback that you may encounter is the somewhat complicated setup. For beginners, it can be a bit difficult to navigate the site. Other than that, it works perfectly.

Available currencies                                    740 per fiat in crypto.
Fees and commissions Flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for transactions with the BNB token.
Portfel Mobile app - Trust portfolio.
Payments All major methods are supported - bank transfer, bank cards, electronic payments.
Security The exchange has launched a unique surveillance system - CryptoSafeAlliance (CSA). It combines multiple services to enhance platform security.
Mobile Applications Free app for iOS and Android.

Kraken

This exchange was launched in 2011. The service has grown at an impressive pace and in just a few years has become one of the leading exchanges on the market. It continues to be very popular among traders as it offers a good selection of both altcoins and fiat currencies. While some other exchanges have more choice, Kraken has other strong features that encourage customers to stick with it.

Users highly value this exchange for its numerous technical functions that are essential for successful trading - extensive charting tools and margin trading. Advanced traders benefit greatly from these features. Beginners may find it difficult at first, but with some effort they too can master the interface. Once you have successfully made your first trades, things will accelerate.

All in all, this exchange has everything a trader could need in his daily life. The only drawback that should be mentioned is the insufficient choice of payment methods. Therefore, before you decide to open an account on the site, you should check whether you will be able to deposit and withdraw your money freely. If you do not find the desired option, it may be that working with this particular exchange does not suit you.

Available currencies                                   8 cryptocurrencies.
Fees and commissions For all transactions up to 50,000 of a certain token, the seller charges a commission of 0.16% and the buyer charges 0.26%. For amounts above 50,000 of a certain currency, the commission changes to 0.14% and 0.24% respectively.
Portfel There is no wallet for cryptocurrencies.
Payments Only direct transactions from cryptocurrency wallets or bank transfers. Bank cards are not accepted on this platform.
Security two-factor authentication; PGP encryption; the exchange also uses a global lock for the settings to avoid changing accounts too often.
Mobile Applications Kraken Pro em Kraken Futures.

Bittrex

This exchange began in 2014. That was the moment when cryptocurrencies appeared on the global financial market and became an interesting instrument for trade. The founders tackled the task well, offering a really impressive selection of coins. This made it easy for traders to diversify their trading portfolio for better results. In addition, the exchange makers have also added a virtual wallet to their site, allowing users to safely store their money on the platform. The site is very reliable as many protection technologies have been applied here for the safety of the 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.
Portfel Online wallet for cryptocurrency.
Payments Cryptocurrency wallets, bank cards, and wire transfers.
Security About 80% of all funds are kept in cold storage; 2-function authentication; IP verification via email address when user logs in with new IP address; IP whitelisting.
Mobile Applications Bittrex Global in the Bittrex application.

Bitmex

This fair accepted its first customer as early as 2014. And it only took a few years to attract thousands of traders. This happened mainly because of their enticing offers for margin trading. There was no other platform with such attractive requirements for binary trading. In the future, for example, the trader could use leverage, which was a powerful way to significantly multiply profits. At the same time, leverage is a complicated mechanism that always involves high financial risk. Margin trading is therefore only recommended for traders with sufficient market experience.

Bitmex is a reliable platform. The registration process is more than simple. It is a perfect compromise between ease of use and many additional features. Traders join the exchange with the intention of gaining the benefits of margin trading.

Available currencies                                   55+ trade pairs.
Fees and commissions No fees are charged for deposits and withdrawals. For all transactions, users pay 0.075% of the total transaction value.
Portfel BitMex online portemonnee.
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 mobiele app.

Bitfinex

This exchange has been running since 2012, and is considered one of the first sites of its kind. Over the years, it has managed to grow and remain popular. The winning feature of Bitfinex is margin trading. Many traders have been able to make a steady profit with this feature. As I mentioned before, you need to have some experience to use margin for your trades. Otherwise, there is a high risk of losing your investment.

Bitfinex doesn't have the widest selection of trading instruments on the market. But the platform has been accepting both cryptocurrencies and fiat assets since 2015, which has made it very 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. A fee of 0.1%, but not less than US$20, is charged for all US dollar transactions. The fee for fiat money transactions is $60. For other transactions, the service fees are 0.1% for the introducer and 0.2% for the acceptor.
Portfel Three different portfolios are available - Margin, Foreign Exchange, Finance.
Payments The service accepts cryptocurrency wallets, bank cards, and wire transfers.
Security 99.5% of all money is kept in cold wallets; several verification steps are required to gain access to this money, so that it is safely protected.
Mobile Applications Available.

Localbitcoins

It is another pioneer among cryptocurrency exchanges. Local coins entered the market in 2012. Its main feature is that it initially started as a peer-to-peer (P2P) service and did not focus much on trading volume. although the service is global, its customers have a local trading experience.

The platform allows any trader to find a favorable offer and discuss fees with other participants until an agreement is reached. To facilitate the trading process, you can open an escrow account. The exchange has managed to create a truly reliable environment for trading. This is why it is popular enough, especially among industry insiders. However, it should be mentioned that Localbitcoins operates with slightly higher fees than other similar sites.

Available currencies                                    Only bitcoin is traded here.
Fees and commissions Buyers pay no commission, while sellers have to pay 1% of the transaction value.
Portfel Cryptocurrency wallet for btc.
Payments Bank transfers, bank cards, electronic systems.
Security Dual role authentication; locked account system.
Mobile Applications Nie.

Poloniex

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 to trade in a very reliable environment. The service charges very low commissions and offers its customers many benefits. For example, the higher the volume of your transaction, the lower the commission you will be charged.

Poloniex has separate fees for traders and brokers. This is done to encourage traders to open more positions, as brokers pay really small fees for this. There is a whole list of other benefits for traders registered at Poloniex - these include chat boxes, analysis tools, news and more. The site has a very easy to navigate interface.

Available currencies                                  100+ castaparen.
Fees and commissions All deposits are free of charge. The withdrawal fee is fixed for each currency. Split the fees for acceptors and executors.
Portfel Online wallet for cryptocurrency.
Payments Payment methods vary according to the country in which the merchant lives.
Security Two-factor account authentication.
Mobile Applications Available.

KuCoin

It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform was created by highly experienced market players. Thus, the service has everything needed for successful cryptocurrency trading. Thanks to its modern features, it immediately gained popularity and attracted users from almost every country in the world.

One of the winning features is the high-level security system applied to the exchange. It can be compared with that of the most reputable banks. A high level of encryption and multi-layer authentication is used here. So far there have been no cases of piracy on this platform. However, it is still too early to assess the security of this exchange, as the market is not yet sufficiently established.

Available currencies                                     200 currencies and 450 currency pairs.
Fees and commissions All deposits are free of charge. The withdrawal fee is fixed for each currency. A flat fee of 0.10% is charged for all transactions.
Portfel Available.
Payments All major payment channels are supported, including electronic systems.
Security Two-factor authentication by Google.
Mobile Applications Available.

Bitpanda

The exchange was originally known as Coinimal. This Austrian service was launched in 2014. Some time later, however, it was renamed Bitpanda. The goal of the platform was to make cryptocurrency trading accessible and easy for everyone. To this end, the founders created an easy-to-use website that even a complete beginner could navigate effortlessly. This approach has worked well, as the exchange has attracted more than a million users in just 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 gained enough experience in the industry, you can trade between digital goods and metals. The company has many affiliates around the world, which offer additional opportunities to make money. You can invest in your own exchange 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 each specific currency. The same approach works for cryptocurrency trading.
Portfel Bitpanda cryptocurrency portemonnee.
Payments Bank transfers, bank cards, electronic systems.
Security Two-factor authentication for each login. Cold storage of funds. Validation via e-mail address.
Mobile Applications Available.

Coinmama

Coinmama is another decent source for cryptocurrency trading. It was launched in 2013, when cryptocurrencies were firmly in the global financial system. You should not think of this platform as an exchange service. Technically, you are buying and selling assets on the exchange itself.

The choice of cryptocurrencies is not as large on this platform. If you buy bitcoins through a credit card, be prepared that there is a limit to the amount you can buy. And be sure to check what commission will be charged for the amount you wish to redeem. There are many payment channels accepted on the site. In addition, you will find decent multilingual support, as the exchange is aimed at the worldwide market. The only drawback is that there is no wallet for cryptocurrencies on this platform. Otherwise, it is a good option for beginners.

Available currencies                                     More than 10 cryptocurrencies.
Fees and commissions Service fees are charged for using the bank card. Fixed fees for selling and buying cryptocurrency.
Portfel The portfolio is not available.
Payments Bank transfers, bank cards, electronic systems, SEPA and SWIFT payments.
Security Trust Guard i technologie ochronne Comodo.
Mobile Applications Available.

Paxful

This exchange began serving merchants in 2015 and was registered in the United States. Since its appearance, the service has targeted a global audience, accepting customers from Europe and the United States. The platform itself is quite simple, with reliable protection and affordable fees. In other words, Paxful can be called a P2P exchange. When you start working here, you will need to create a wallet. Before confirming a trade, you can examine the wallets of other traders and evaluate their reliability.

One of the biggest drawbacks of this service is that it only allows you to exchange bitcoin. In fact, you can use a whole list of currencies to pay with bitcoin. But when it comes to selling transactions, you can only sell bitcoins. There is a 1% fee for each sale, while purchases are free. The exchange supports multiple payment methods.

Available currencies                                      Bitcoin.
Fees and commissions A 1% commission is charged for each sale, while purchases are free. Additional commission may be charged depending on the payment method chosen.
Portfel Paxful portemonnee app.
Payments All known payment methods are supported.
Security Mandatory authentication procedure; two-factor authentication.
Mobile Applications Request for a paxful wallet.

HitBTC

This exchange is based in Denmark. It was launched in 2013. The service was created with the goal of providing individuals with the widest possible choice of cryptocurrencies. Currently, the exchange offers more than 800 trading pairs. You can find even the rarest coins on this platform. This approach is an excellent way for users to diversify their investment portfolio. HitBTC offers a demo account so that any new customer can test the service for free. All customer funds are protected by the most reliable technologies. The exchange allows you to trade in large volumes.

The disadvantage of the platform is that it does not accept fiat money. You can only trade here in cryptocurrencies. But to overcome this drawback, the exchange has added a special built-in system where you can buy digital coins and pay with your bank card. But in that case you will have to pay higher commissions.

Available currencies                                    800 trading pairs.
Fees and commissions All deposits are free of charge. The withdrawal rate is fixed for each currency. Multi-level trading system.
Portfel There is no wallet for cryptocurrencies.
Payments Only cryptocurrencies are accepted.
Security 2-function authentication; high-level encryption technology.
Mobile Applications Nie.

As you can see, the market is full of excellent stock exchanges. You must now analyze your needs and choose the one that best meets your expectations.

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