Cryptocurrency platforms South Africa 2021
Digital assets are on an upward wave
Before 2009, no one had ever heard of cryptocurrencies. But the invention of bitcoin caused the emergence of thousands of new electronic currencies, making the choice really huge. Logically, this new type of currency immediately attracted a lot of interest to make cryptocurrency a powerful trading instrument. This was mainly due to its high volatility.
In the early days, you could find very different prices for one and the same cryptocurrency, including bitcoin. And since these new coins only existed in the electronic space, they had no directly assigned value. All this led to drastic price fluctuations for all digital coins in their first years of existence. It is not yet stable, but there is a clear trend in recent years.
Some currencies have proved reliable enough to attract the attention of traders. Thus, cryptocurrencies paved their way to 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 goes up. The popularity of this has led to the creation of many new exchanges around the world. And they all work quickly, responding to any change in the market.
What is a cryptocurrency exchange?
Before comparing the world's best stock exchanges, it is essential to understand how they work.
A cryptocurrency exchange is a service that allows you to trade cryptocurrencies. There are many platforms that accept both fiat currency and electronic coins. So you can buy and sell both fiat currency and cryptocurrencies, in any combination.
In fact, there is nothing special about the performance of the exchanges. All you have to do is register 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 the funds you receive until their value increases and trade them again.
Cryptocurrencies are traded in the same way as any other asset. There is a certain market value that largely depends on several 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 deposit money into your cryptocurrency exchange account, you must have an active virtual wallet. This is a storage service for your cryptocurrency. Using your wallet address, you will send money to your exchange account. Find out if the exchange in question accepts the coins you will be selling. Some exchanges offer their own built-in wallets that are well secured.
Once your trading account is populated with your portfolio, you can create a buy or sell order in the system. When the other interested customer sees your offer and is satisfied with the rates and other details, you will start the transaction. So the purpose of the exchange is to help people make mutually beneficial transactions. Please always check the exchange terms and conditions for such transactions as they may vary slightly on different sites.
What affects 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, especially about what affects their value. It would be impossible to list all the factors, but here are the most important ones that 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 bitcoin can be mined. This amount is really nothing when it comes to any currency. This is why the value of bitcoin is so high. The currency is already approaching its inventory limit, so fluctuations are inevitable when no more coins are expected to enter circulation. At least that's what major bitcoin holders believe.
- 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 affecting demand. It is important to consider all the advantages of a currency and the regulations that apply to different currencies. When you know the level of interest in a particular coin, 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 regulations will limit the use of cryptocurrencies. Electronic currencies may lose their current value. But the adoption of cryptocurrencies is inevitable, and that 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 relevant factors.
Industry trade show overview
Today, there are many exchanges for cryptocurrencies and the average user often finds it difficult to know which one to choose. Sometimes these services have similar offerings, but still there are differences. Therefore, it is important to know these nuances and understand how they differ if you plan to trade cryptocurrencies.
The most important feature is the level of security that a particular exchange offers to its customers. This is crucial when you are trading in an online environment. Therefore, when you are looking for a reliable exchange, you should make sure that this criterion is number one. A cryptocurrency exchange is your guide in the world of cryptocurrencies.
It is one of the largest exchanges. It started operations in 2012, shortly after the invention of bitcoin. It is based in the USA and operates under all the regulations required here. Once you join the platform, you can use one of two accounts - standard and pro. This 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 to detect the slightest changes in the market. Besides, the service offers an extensive list of coins to trade. But it would be appropriate to mention that some competitors of Coinbase have an even better selection of cryptocurrencies. The trading system is very user-friendly and even a beginner will quickly learn how to navigate the site. If you intend to use the exchange's cryptocurrency wallet, you can rest assured that it is well protected against hacking. Overall, this cryptocurrency exchange offers a really favorable trading environment with all the features that an average user may need in the working process. It is especially recommended for newcomers in the cryptocurrency sphere. Take a look at its main features:
|Available currencies||23 pieces.|
|Fees and commissions||You pay $0.00 for each transaction under $10.00; you pay $1.49 for transactions between $10.00 and $25.00; you pay $1.99 for transactions between $25.00 and $50.00; you pay $2.99 for transactions between $50.00 and $200.00. And for larger amounts, a fixed interest rate is applied, depending on the payment method.|
|Portfolio||Free online portfolio that is compatible with mobile devices.|
|Payments||All major payment methods - credit card, bank transfer, electronic services.|
|Security||Two-factor authentication; traffic encryption using SLL protocols; wallet is encrypted using AES-256 protocol; only 2% of customers' money is stored online and it is insured.|
|Phone applications||For iOS and Android.|
This cryptocurrency platform was founded in 2017. Despite its young age, it 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 works not only with digital currencies - it also accepts fiat currencies, although cryptocurrencies still dominate. It also offers trading in its own token - BNB. Very quickly, the exchange reached a very high trading volume, which allowed it to rightfully take its place among the most influential cryptocurrency platforms on the world stage. And its flexible and affordable fee system left the competition far behind. In record time, the platform has managed to build a huge customer base, with new users joining every day.
By registering on the site, you can deposit in cryptocurrencies or fiat currency. This feature makes the exchange accessible to literally anyone. The only drawback that you may find here is the somewhat complicated setup. Navigating the site may be a bit difficult for a beginner. Otherwise, it works perfectly.
|Available currencies||740 fiat in cryptocurrency paren.|
|Fees and commissions||Flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for NBB token transactions.|
|Portfolio||Mobile App - Trust Wallet.|
|Payments||All major methods are supported - bank transfer, credit cards, electronic payments.|
|Security||The exchange has launched an exclusive surveillance system - CryptoSafeAlliance (CSA). It combines a range of services to improve platform security.|
|Phone applications||Free app for iOS and Android.|
This exchange was launched in 2011. The service has grown at an impressive rate and in just a few years has become one of the leading exchanges on the market. It remains very popular among traders because it offers a good selection of altcoins and fiat currencies. Although other exchanges have a larger selection, Kraken has other strong features that encourage 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 make great use of these features. Beginners may have difficulty at first, but with a little effort they too can master the interface. After successful first trades, things will pick up.
In short, this exchange has everything a trader needs for daily work. The only drawback that should be mentioned is the insufficient choice of payment methods. Therefore, before you decide to create an account on the site, check whether you will be able to freely deposit and withdraw your money. If you do not find the desired option, then it may not be practical for you to work with this particular exchange.
|Available currencies||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 token, the commission increases to 0.14% and 0.24% respectively.|
|Portfolio||No cryptocurrency wallet.|
|Payments||Only direct transactions from cryptocurrency wallets or bank transfers. Credit cards are not accepted on this platform.|
|Security||2-factor authentication; PGP encryption; the exchange also uses a global settings lock to prevent too frequent account changes.|
|Phone applications||Kraken Pro in Kraken Futures.|
This exchange started in 2014. This was the time when cryptocurrencies made their appearance on the global financial market and became an interesting tool for trading. The founders did well by offering a really impressive selection of coins. This made it easy for traders to diversify their trading portfolio for better results. Moreover, the creators of the exchange have also added a virtual wallet to their site so that users can safely store their money on the platform. The site is very reliable as a lot of protective technologies have been built in for the safety of the customers.
|Available currencies||Over 250 pairs of transactions.|
|Fees and commissions||The exchange uses a flexible commission system, but different fees apply for each coin.|
|Portfolio||Online cryptographic portefeuille.|
|Wallets for cryptocurrencies, bank cards and wire transfers.|
|Security||Approximately 80% of all funds are kept in cold storage; 2-factor authentication; IP verification via email address when user logs in using a new IP address; IP whitelisting.|
|Phone applications||Bittrex Global in the Bittrex app.|
The fair welcomed its first customer in 2014. And it only took a few years to attract thousands of entrepreneurs. This was mainly due to the attractive offers for margin trading. There was no other platform with such attractive terms for binary trading. With futures, for example, a trader could use leverage, which was a powerful way to multiply profits significantly. At the same time, leverage is a tricky mechanism that always involves high financial risk. Margin trading is therefore recommended only for traders with sufficient experience in the market.
Bitmex is a reliable platform. The registration process is more than simple. It is a perfect compromise between ease of use and a plethora of additional features. Traders continue to join the exchange with the intention of enjoying the benefits of margin trading.
|Available currencies||55+ interchangeable pairs.|
|Fees and commissions||There are no fees for deposits and withdrawals. For all transactions, users pay 0.075% on the total transaction amount.|
|Portfolio||Online BitMex portemonnee.|
|Payments||The service only accepts wallets for cryptocurrencies.|
|Security||Funds are held in cold wallets; 2-factor authentication; SMS registration; multi-signature wallets.|
|Phone applications||Bitmex mobile app.|
This fair has been running since 2012 and is considered to be one of the first sites of its kind. Through all these years, it has managed to grow and remain popular. The winning feature of Bitfinex is margin trading. Many traders have managed to make a steady profit from this opportunity. As already mentioned, you need to have some experience to use margin in your trading. Otherwise, there is a high risk of losing your investment.
Bitfinex doesn't have the largest selection of trading instruments on the market. But the platform has been accepting cryptocurrencies and fiat assets since 2015, which has made it wildly popular among traders. With this feature, users from all over the world can use the exchange without any problems.
|Available currencies||140 cryptocurrencies and over 300 trading pairs.|
|Fees and commissions||There are no fees for deposits and withdrawals. There is a 0.1% fee for all USD transactions, but no less than $20. The fee for cash transactions is $60. For other transactions, the service charges 0.1% to the originator and 0.2% to the acceptor.|
|Portfolio||There are three different portfolios available - Margin, Exchange, Finance.|
|Payments||The service accepts wallets for cryptocurrencies, credit cards and bank transfers.|
|Security||99.5% of all money is stored in cold wallets; multi-step authentication is required to access this money, which is thus securely protected.|
It is another pioneer among cryptocurrency exchanges. Localbitcoins 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 any trader to find favorable deals and discuss rates 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 really reliable environment for trading. Therefore, it is quite popular, especially among beginners in the industry. However, keep in mind that Localbitcoins operates with slightly higher fees than other similar services.
|Available currencies||Only bitcoin is traded here.|
|Fees and commissions||Buyers pay no commission, while sellers must pay 1% of the negotiated amount.|
|Portfolio||Encrypted wallet for btc.|
|Payments||Wire transfers, bank 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 made great progress. It offers more than 100 cryptocurrency pairs to trade in a very reliable environment. The service charges very low commissions and offers many benefits to its customers. For example, the higher the trading volume, the lower the fees you will have to pay.
Poloniex has separate fees for taking and making. This is to encourage traders to open more positions, as the makers pay a very low fee for doing so. For registered traders on Poloniex, there is a whole list of other benefits - including chat boxes, analytical tools, news feed and much more. The site has a very easy to navigate interface.
|Available currencies||Over 100 currency pairs.|
|Fees and commissions||All deposits are free of charge. Waiver fees are determined on a per piece basis. Common fee for creators and creatives.|
|Portfolio||Online cryptographic portefeuille.|
|Payments||Payment methods vary depending on the country where the trader lives.|
It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform was created by very experienced market players. Thus, the service has everything needed for successful cryptocurrency trading. With 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 of security system implemented at the exchange. It can be compared to what the most reputable banks offer. A high level of encryption and multi-step authentication is used. So far, there have been no cases of hacking on this platform. However, it is too early to evaluate the security of this exchange as it does not yet exist in the market.
|Available currencies||200 cards in 450 currency pairs.|
|Fees and commissions||All deposits are free of charge. Withdrawal fees are fixed for each individual coin. A fixed commission of 0.10% is charged for all transactions.|
|Payments||All major payment channels are supported, including electronic systems.|
|Security||2-factor authentication przez Google.|
|Cell phone applications||Available.|
The exchange was originally known as Coinimal. This Austrian service was launched in 2014. But some time later, it was renamed as Bitpanda. The goal of the platform was to make cryptocurrency trading accessible and easy for every person. To achieve this, the founders created an easy-to-use site 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 cryptocurrencies, you can also trade other instruments - silver and gold. The platform offers automated tools that make cryptocurrency trading much easier. Once you have gained enough experience in this industry, you can trade between digital assets and metals. The company has many affiliates around the world that provide additional opportunities to make money. You can invest in your own exchange token and use it to minimize your operating costs.
|Available currencies||30+ cryptocurrencies.|
|Fees and commissions||All deposit and withdrawal fees are fixed for each currency. The same approach works for cryptocurrency transactions.|
|Portfolio||Bitpanda crypto wallet.|
|Payments||Wire transfers, bank cards, electronic systems.|
|Security||2-factor authentication for each connection. Cold storage of funds. Confirmation by email address.|
|Cell phone applications||Available.|
Coinmama is another decent source for trading cryptocurrencies. It started its operations in 2013, when cryptocurrencies were making strong inroads into the global financial system. You should not consider the platform as a currency exchange service. Technically, you are buying and selling assets on the exchange itself.
The choice of cryptocurrencies is not very large on this platform. When buying bitcoin with a credit card, be prepared for a limit on the amount you can buy. And don't forget to check what commission will be charged for the amount you want to trade. Numerous payment channels are accepted on the site. Moreover, you will find decent multilingual support since the exchange is global. The only drawback is that there is no wallet for cryptocurrencies on this platform. Otherwise, this is a good option for beginners.
|Available currencies||10+ cryptocurrencies.|
|Fees and commissions||There is a service fee for using a bank card. There is a fixed fee for buying and selling cryptocurrencies.|
|Portfolio||No handbag available.|
|Payments||Bank transfers, credit cards, electronic systems, SEPA and SWIFT payments.|
|Security||Technologie ochronne Trust Guard i Comodo.|
This exchange started serving traders in 2015 and was registered in the United States. Since its inception, the service has been geared towards a global audience, accepting clients from Europe and the US. The platform itself is quite simple, with reliable protection and affordable fees. In other words, you can call Paxful a P2P exchange. When you start working here, you need to build your portfolio. Before confirming trades, you can review other traders' portfolios and assess their reliability.
One of the main drawbacks of this service is that it only allows you to exchange bitcoins. In fact, you can use the whole list of currencies to pay for bitcoins. But when it comes to selling transaction, you can only sell bitcoins. There is a 1% fee on each sale, while purchases are free. The exchange supports a wide range of payment methods.
|Fees and commissions||A 1% commission is charged on all sales, while purchases are free. Additional commissions may be charged depending on the payment method selected.|
|Portfolio||Paxful portfolio application.|
|Payments||All known payment methods are supported.|
|Security||Mandatory authentication procedure; 2-factor authentication.|
|Phone applications||Paxful Portfolio Application.|
The fair is based in Denmark. It was launched in 2013. The site was created to provide individuals with the widest possible selection of cryptocurrencies. 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 where every new client can test the service for free. All client 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 currencies. You can only trade cryptocurrencies there. However, 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 this case, you will have to pay higher commissions.
|Available currencies||800 exchange rates.|
|Fees and commissions||All deposits are free of charge. Withdrawal fees are fixed for each individual coin. Multi-level trading system.|
|Portfolio||No cryptocurrency wallet.|
|Payments||Only cryptocurrencies are accepted.|
|Security||2-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.