Cryptocurrency platforms South Africa 2021
          

Digital assets are on an upward wave

Until 2009, no one had ever heard of cryptocurrencies. But the invention of Bitcoin triggered the creation of thousands of new electronic currencies, making the choice really wide. Logically, this new type of money immediately aroused great interest in turning cryptocurrencies into a powerful trading tool. 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 their first years of 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. This is how cryptocurrencies arrived on exchanges, where they can be traded freely. The process is quite simple: traders exchange one asset for another with the intention of holding it until its price rises. The popularity of this activity has led to the creation of many new exchanges around the world. And all of them operate quickly and respond to all market changes.

What is a cryptocurrency 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 trade cryptocurrencies. Many platforms accept both fiat money and electronic currencies. So you can sell and buy both fiat currencies and cryptocurrencies in any combination.

Actually, there is nothing special about the exchange service. All you have to do is register on the platform of your choice and start trading. These services connect real people who want to exchange 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 continue trading them.

Cryptocurrencies are traded like any other asset. There is a certain market value, which 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 real value.

To create your account on a cryptocurrency exchange, you need an active virtual wallet. This is a service for storing your cryptocurrency. You will use the wallet address to transfer money to your exchange account. Check if the exchange in question accepts the coins you want to sell. Some exchanges offer their own integrated wallets, which are well protected.

After replenishing your account through the wallet, you can create a buy or sell order in the system. When the other interested customer sees your offer and agrees with the prices and other details, the transaction will start. So the purpose of the exchange is to help people make mutually beneficial transactions. Always ask about 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 affects their value. It would be impossible to list all the factors, but here are the most important ones you should consider.

  • Limited supply. This is one of the top factors that can affect the price of a particular coin. For example, bitcoin has a preset emission. So, in many cases, it is known in advance how many coins can be issued in total. Once the coin has limited supply, it becomes extremely difficult to get more coins when current circulation gets closer to the maximum.

For example, only 21 million Bitcoin can be mined. This amount is really nothing when it comes to the 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 be in circulation. At least that is what the big holders of bitcoins think.

  • 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 take into account all the advantages that a particular currency offers, as well as the regulations that apply to different currencies. When you know the interest in a particular currency, you can roughly predict the amount of demand that will affect its value.

  • Regulations. There is no generally accepted cryptocurrency regulation in the world financial system. In some countries, there are restrictions at all, while in others, there are still disputes on how to monitor this relatively new type of money. Experts believe that once this question is solved, the value of digital money will substantially rise.

No one can say for sure how regulation will limit the use of cryptocurrencies. Electronic currencies 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.

Stock overview

Nowadays, there are many cryptocurrency exchanges and the average user often finds it difficult to choose one. Sometimes these services have similar offers, but still there are differences. Therefore, it is important to know the nuances and understand how they differ when you want to trade cryptocurrencies.

The most important feature is the level of security that this exchange offers to its customers. This is critical when transacting in an online environment. So, if you are looking for a reliable exchange, make sure that this is the most important criterion. The cryptocurrency exchange is your guide in the world of cryptocurrencies.

Coinbase

It is one of the largest exchanges. It started trading in 2012, shortly after bitcoin was invented. It is based in the United States and operates according to all the rules that apply here. When you join the platform, you can use one of two accounts: Standard and Pro. This exchange charges high fees for the Standard account, while the Pro account has many advantages. Pro account holders enjoy advanced charting features and effective indicators that allow you to see even the smallest changes in the market. The service also offers an extensive list of currencies for trading. However, it should be mentioned that some of Coinbase's competitors have an even larger selection of cryptocurrencies. The exchange system is very easy to use and even a beginner will quickly learn how to navigate the website. If you use the exchange's cryptocurrency wallet, you can rest assured that you are well protected against hacking. Overall, this cryptocurrency exchange offers a really beneficial trading environment with all the features that the average user needs for their work. It is especially recommended for cryptocurrency newbies. Take a look at the most important features:

Coins available                                 23 coins.
Fees and commissions For all bets under $10, $0.00 is paid; for bets from $10 to $25, $1.49 is paid; for bets from $25 to $50, $1.99 is paid; for bets from $50 to $200, $2.99 is paid. And for higher amounts, a flat fee is charged depending on the payment method.
Portfel 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 using SLL protocols; the wallet is encrypted with AES-256 protocol; only 2% of customer funds are stored online and secured.
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 cryptocurrencies. Binance not only works with digital money, but also accepts fiat money, although cryptocurrencies still dominate. It also offers trading of its own token, BNB. The exchange soon reached a very high trading volume, which allowed it to take its place among the most influential cryptocurrency platforms on the global scene in its own right. 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 on a daily basis.

Once you register on the website, you can 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 beginners, it can be a bit difficult to find your way around the service. Other than that, it works very well.

Coins available                                 740 por fiat i crypto.
Fees and commissions Flexible and competitive commission system. It pays 0.01% per transaction and only 0.075% for transactions with NBB tokens.
Portfel Mobile application - Trust Wallet.
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 multiple services to enhance platform security.
Mobile applications Free app for iOS and Android.

Kraken

This exchange appeared on the market in 2011. The service has grown with impressive speed and in a few years has become one of the leading exchanges on the market. It remains popular among traders because it offers a good selection of altcoins and fiat currencies. Although other exchanges offer a wider selection, Kraken has other strong features that encourage customers to stick with it.

Users value this exchange for the various technical capabilities that are essential for successful trading: comprehensive charting tools and margin trading. Advanced traders make great use of these features. Beginners may have trouble with it, but with a little effort they can also master the interface. After the first few successful trades, things will improve.

In conclusion, this exchange offers everything a trader needs for his daily work. The only drawback worth mentioning is the insufficient choice of payment options. Therefore, before you decide to create an account on the website, you should check whether you can deposit and withdraw money freely. If you do not find the option you want, it is possible that working with this particular exchange will not suit you.

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 to 0.14% and 0.24% respectively.
Portfel There is no cryptocurrency portfolio.
Payments Only direct transactions from cryptocurrency wallets or bank transfer. Bank cards are not accepted on this platform.
Security 2-factor authentication; PGP encryption; the exchange also uses a global configuration lock to prevent too many changes to the account.
Mobile applications Kraken Pro and Kraken Futuros.

Bittrex

This exchange was launched in 2014. It was a time when cryptocurrencies were on 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 allow investors to easily diversify their trading portfolio for a better result. In addition, the creators of the exchange have also included a virtual wallet on their site, which allows users to store their funds securely on the platform. The site is very reliable, as many protection technologies have been used for the safety of customers.

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.
Portfel Online cryptocurrency wallet.
Payments Cryptocurrency wallets, bank cards and bank transfers.
Security Approximately 80% of all funds are cold-stored; 2-factor authentication; IP verification via email address as soon as the user connects via a new IP address; IP whitelisting.
Mobile applications Bittrex Global in the Bittrex application.

Bitmex

This exchange welcomed its first customer in 2014. And it only took a few years for it 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 futures, the trader could use leverage, which was a powerful way to multiply profits significantly. At the same time, leverage is a complicated mechanism that always involves high financial risk. Therefore, trading on margin is only advisable 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 numerous additional options. Traders register with the exchange several times to enjoy the benefits 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% on the total amount of the transaction.
Portfel BitMex online wallet.
Payments The service only accepts cryptocurrency wallets.
Security Funds stored in cold wallets; 2-factor authentication; SMS registration; multi-signature wallets.
Mobile applications Bitmex mobile application.

Bitfinex

This exchange has been operating since 2012 and is considered one of the first services of its kind. Throughout all these years it has managed to grow and remain popular. A distinctive feature of Bitfinex is margin trading. Many traders have managed to make a steady profit thanks to this facility. As mentioned above, you need to have some experience to apply margin to your trades. Otherwise, there is a high risk of losing your investment.

Bitfinex does not have the largest selection of trading instruments on the market. But the platform accepts 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 use the exchange without any problems.

Coins available                                    140 cryptocurrencies and more than 300 trading pairs.
Fees and commissions No commissions are charged for deposits and withdrawals. A 0.1% commission is charged for all dollar transactions, with a minimum amount of $20. The fee for fiat money transactions is $60. For all other transactions, the service charges 0.1% to the sender and 0.2% to the recipient.
Portfel Three different portfolios are available: margin, swap and financing.
Payments The service accepts cryptocurrency wallets, bank cards and bank transfers.
Security 99.5% of all funds are held in cold wallets. To access this money, multi-level authentication is required to keep it securely protected.
Mobile applications Available.

Localbitcoins

It is another pioneer among cryptocurrency exchanges. Localbitcoins entered the market in 2012. Its main feature is that it initially started as a P2P (peer-to-peer) 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 a deposit account to simplify the trading process. The exchange has managed to create a truly reliable environment for trading. This makes it especially popular among beginners in the industry. However, keep in mind that Localbitcoins operates with slightly higher fees than other similar services.

Coins available                                     Only bitcoin is traded here.
Fees and commissions Buyers do not pay any commission and sellers pay 1% of the invoiced amount.
Portfel Cryptocurrency wallet for btc.
Payments Bank transfers, bank cards, electronic systems.
Security 2-factor authentication; kont escrow system.
Mobile applications Nie.

Poloniex

The first trades 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 the trading volume, the lower the commissions you will be charged.

Poloniex charges separate commissions for taking and making. This is to encourage traders to open more positions, as brokers only pay very small commissions. There are a whole host of other benefits for traders registered with Poloniex - these include chat boxes, analysis tools, newsfeed 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 rates are fixed for each currency. Common rates to take and make.
Portfel Online cryptocurrency wallet.
Payments Payment methods vary according to the country in which the seller is located.
Security konta 2-factor authentication.
Mobile applications Available.

KuCoin

It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform was 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.

An outstanding feature is the exchange's first-class protection system. It is comparable to that used by the most reputable 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 assess the security of this exchange, as it has not yet been on the market for a long time.

Coins available                                  200 fiat and 450 currency pairs.
Fees and commissions All deposits are free of charge. The withdrawal rate is fixed for each currency. A fixed commission of 0.10% is charged for all transactions.
Portfel Available.
Payments All major payment channels are supported, including electronic systems.
Security 2-factor authentication od Google.
Mobile applications Available.

Bitpanda

The exchange was originally known as Coinimal. This Austrian service was launched in 2014. But some time later it was renamed Bitpanda. The goal of the platform was to make cryptocurrency trading accessible and easy for everyone. To do this, the founders created a user-friendly website where even a complete beginner could easily find their way around. This approach was successful, as the exchange attracted more than a 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 gained enough experience in the industry, you can trade between digital assets and metals. The company has multiple offices around the world that offer additional ways to make money. You can invest in your own token exchange to minimize operating costs.

Coins available                                    More than 30 cryptocurrencies.
Fees and commissions All deposit and withdrawal fees are fixed for each individual currency. The same approach applies to cryptocurrency trading.
Portfel Bitpanda cryptocurrency wallet.
Payments Bank transfers, bank cards, electronic systems.
Security 2-factor authentication for each login. Cold storage of funds. Validation via email address.
Mobile applications Available.

Coinmama

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

The selection of cryptocurrencies is not that large on this platform. When buying 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 oriented to 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 Use of a bank card incurs a service fee. Fixed fees for buying and selling cryptocurrencies.
Portfel The portfolio is not available.
Payments Bank transfers, bank cards, electronic systems, SEPA and SWIFT payments.
Security ochronne Trust Guard and Comodo technology.
Mobile applications Available.

Paxful

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 fairly straightforward, 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 review other traders' portfolios and assess their reliability before confirming trades.

One of the major drawbacks of this service is that it only allows you to operate in bitcoin. Actually, 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% commission on each sale, while purchases are free. The exchange supports several payment options.

Coins available                                   Bitcoin.
Fees and commissions A 1% commission is charged on each sale, while purchases are free of charge. Depending on the selected payment method, an additional fee may apply.
Portfel Paxful wallet application.
Payments All known payment methods are supported.
Security Mandatory verification procedure; 2-factor authentication.
Mobile applications Paxful wallet application.

HitBTC

This exchange is located in Denmark. It was founded in 2013. The service was founded to offer individuals the widest possible variety of cryptocurrencies. Currently, the exchange offers more than 800 trading pairs. On this platform you will be able to find even the rarest coins. This approach is a great way for users to diversify their investment portfolio. HitBTC offers a demo account for every new client 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. However, in this case 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.
Portfel There is no cryptocurrency portfolio.
Payments Only cryptocurrencies are accepted.
Security 2-factor authentication; high-level encryption technology.
Mobile applications Nie.

As you can see, the market is full of excellent exchanges. Now you should analyze your needs and choose the exchange that best meets your expectations.

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