Cryptocurrency trading platform South Africa 2021
          

Digital assets are on an upward wave

Before 2009, no one had heard of cryptocurrencies. But the invention of bitcoin spurred the creation of thousands of new electronic currencies, making the choice truly vast. Logically, this new type of currency immediately created a lot of interest in turning cryptocurrencies into a powerful trading tool. And this was mainly motivated by its high volatility.

In the beginning, 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. This led to drastic price fluctuations for all digital currencies in their first years of existence. It is not yet stable, but a clear trend has emerged in recent years.

Some currencies have proven reliable enough to attract the attention of traders. This is how cryptocurrencies found their way to the exchanges, where they can be freely traded. The process is quite simple: traders exchanged one asset for another with the intention of holding it until its price increased. The popularity of this has led to the creation of many new exchanges around the world. And they all work quickly, responding to any changes 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. Many platforms accept both fiat currency and electronic currencies. So you can buy and sell both fiat currency and cryptocurrencies in any combination.

In fact, there is nothing special about the way an exchange works. 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 keep the received funds until their value increases and continue trading.

Cryptocurrencies are traded just like any other asset. There is a certain market value that depends largely on many external factors, the main ones being supply and demand. It can be explained that cryptocurrencies are rather 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. It will use your wallet address to send funds to your exchange account. Please check if the exchange in question accepts the coins you intend to sell. Some exchanges offer their own built-in wallets that are well protected.

After topping up your trading account from your wallet, you can create a buy or sell order in the system. Once the other interested customer reads your offer and is satisfied with the prices and other details, the transaction will be initiated. So the purpose of the exchange is to help people make mutually beneficial transactions. Please always check the exchange terms and conditions for this type of transaction as they may vary slightly between the parties.

What affects the value of cryptocurrency?

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

Before you start actively trading on reputable cryptocurrency exchanges, make sure you 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 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 bitcoin is so valuable. The currency is already approaching its supply limit, so fluctuations are inevitable when there are no more coins in circulation. At least that's what the biggest bitcoin holders 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 that affects demand. It is imperative to consider all the advantages that a currency offers, as well as the regulations that apply to different currencies. When you know the level of interest in a particular currency, you can predict approximately how much demand affects 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 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.

Stock Market Overview

Nowadays, you can find many cryptocurrency exchanges and the average user often finds it difficult to know which one to choose. Sometimes these services may offer similar deals, 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 of critical importance when trading in an online environment. Therefore, when looking for a reliable exchange, make this criterion the most important. A cryptocurrency exchange is your guide to the world of cryptocurrencies.

Coinbase

It is one of the largest exchanges. It started its operations in 2012, shortly after the invention of bitcoin. It is based in the United States and operates according to 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 benefits. 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 currencies to trade. But it should be mentioned that some of Coinbase's competitors have an even better assortment of cryptocurrencies. The trading system is very easy to use 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 beneficial 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. Please check out the main features:

Available coins                                    23 pieces.
Fees and commissions For all transactions under $10, you pay $0.00; for transactions between $10 and $25, you pay $1.49; for transactions between $25 and $50, you pay $1.99; for transactions between $50 and $200, you pay $2.99. And for larger amounts, a fixed interest rate applies depending on the payment method.
Wallet Free online wallet 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 customer funds are stored online and they are secure.
Mobile applications For iOS and Android.

Binance

This cryptocurrency platform was founded in 2017. Despite its youth, 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 that offers such an impressive selection of cryptocurrencies. Binance works not only with digital currency - it also accepts fiat currency, although cryptocurrencies still dominate. It also offers the ability to trade with your own token: BNB. Very quickly, the exchange reached a very high trading volume, which allowed it to take its place among the most influential cryptocurrency platforms in the world 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 the service 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. Beginners may find it a bit difficult to navigate the site. Other than that, it works perfectly.

Available coins                                     740 pairs fiat and crypto.
Fees and commissions Flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for NBB token transactions.
Wallet Mobile App - Trust Wallet.
Payments All major methods are supported: bank transfer, credit cards, electronic payments.
Security The exchange has launched a unique monitoring system - CryptoSafeAlliance (CSA). It combines a range of services to improve platform security.
Mobile applications Free app for iOS and Android.

Kraken

This exchange entered the market in 2011. The service has grown at an impressive rate and within 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 wider selection, Kraken has other strong features that encourage customers to stay with it.

Users value this exchange for its many 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 difficulty at first, but with a little effort they too can master the interface. Once they are successful with their first trades, things will start moving faster.

In short, this exchange has everything a trader might need for his daily transactions. The only drawback that needs to be mentioned is the insufficient choice of payment methods. So, before you decide 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, you may not want to work with this particular exchange.

Available coins                                     8 cryptocurrencies.
Fees and commissions For all transactions up to 50,000 of a given currency, the seller is charged 0.16% and the buyer 0.26%. For amounts over 50,000 in a given currency, the commission increases to 0.14% and 0.24% respectively.
Wallet There is no cryptocurrency wallet.
Payments You can only make direct transactions from cryptocurrency wallets or bank transfer. Credit cards are not accepted on this platform.
Security 2-factor authentication; PGP encryption; the exchange also uses global configuration locking to prevent accounts from changing too frequently.
Mobile applications Kraken Pro y Kraken Futures.

Bittrex

This exchange was launched in 2014. This is the time when cryptocurrencies entered the global financial market and became an interesting instrument to trade. Its founders have approached this task correctly by offering a really impressive selection of coins. This makes it easy for traders to diversify their trading portfolio to get a better result. Apart from this, the creators of the exchange have added a virtual wallet to their site that allows users to safely store their funds on the platform. The site is quite reliable as many protective technologies have been used for the safety of the customers.

Available coins                                        Over 250 pairs of transactions.
Fees and commissions The exchange uses a flexible commission system, but different fees apply for each currency.
Wallet Online cryptocurrency wallet.
Payments Cryptocurrency wallets, bank cards and bank transfers.
Security About 80% of all funds are kept cold; 2-factor authentication; IP verification based on email address when user registers with a new IP address; IP whitelisting.
Mobile applications Bittrex Global and the Bittrex app.

Bitmex

The Exchange welcomed its first customer in 2014. And it only took a few years to attract thousands of traders. This was mainly due to the tempting margin trading offers. There was no other platform offering such attractive terms for binary trading. For example, in futures trading, a trader can use leverage, which is a powerful way to multiply profits significantly. At the same time, leverage is a complicated mechanism that always involves high financial risk. Therefore, margin trading is recommended only 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 continue to join the exchange with the intention of enjoying the benefits of margin trading.

Available coins                                Over 55 pairs of quotes.
Fees and commissions There are no fees for deposits and withdrawals. For all transactions, users pay 0.075% on the total transaction amount.
Wallet BitMex Online Wallet.
Payments The service only accepts cryptocurrency wallets.
Security Funds are stored in cold wallets; 2-factor authentication; SMS registration; multi-signature wallets.
Mobile applications Bitmex mobile app.

Bitfinex

This exchange has been around since 2012 and is considered one of the first services 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 through this opportunity. As mentioned, you need to have some experience to use margin in your trading. Otherwise, the risk of losing your investment is high.

Bitfinex doesn't have the largest selection of trading instruments on the market. But the platform has been accepting both cryptocurrencies and fiat assets since 2015, which has made it extremely popular among traders. With this feature, users from all over the world can use the exchange without any problems.

Available coins                                        140 cryptocurrencies and over 300 trading pairs.
Fees and commissions No fees are charged for deposits and withdrawals. All USD transactions are charged 0.1%, but not less than $20. The fee for a fiat money transaction is $60. For other transactions, the service charges 0.1 percent to the originator and 0.2 percent to the recipient.
Wallet There are three different portfolios available - Margin, Exchange, 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 thus 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 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 a favorable offer and discuss rates with other participants until an agreement is reached. To facilitate the trading process, you can open a margin 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, it should be mentioned that Localbitcoins operates with slightly higher fees than other similar services.

Available coins                                  Only bitcoin is traded here.
Fees and commissions Buyers pay no commission and sellers pay 1% of the turnover amount.
Cartera Cryptocurrency wallet for btc.
Payments Wire transfers, bank cards, electronic systems.
Security 2-factor authentication; system kont escrow.
Mobile applications Non.

Poloniex

The first transactions on this exchange were recorded in 2014. Since then, the platform has come a long way. It offers over 100 cryptocurrency pairs to trade in a highly reliable environment. The service charges very low commissions and offers many benefits to its customers. For example, the higher the volume of your trades, the lower the commission you will be charged.

Poloniex uses separate commissions for buyers and sellers. This is to encourage traders to open more positions, as brokers pay a very low fee for this. There is a whole list of other benefits for registered traders on Poloniex - these include chat boxes, analytical tools, news feed and much more. The site has a very easy to navigate interface.

Available coins                                    Over 100 currency pairs.
Fees and commissions All deposits are free of charge. Withdrawal fees are set per currency. Commissions are shared between borrowers and originators.
Wallet Online cryptocurrency wallet.
Payments Payment methods vary depending on the seller's country of residence.
Security 2-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 very experienced market players. As a result, the service has everything you need 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 quality protection system implemented in the exchange. It can be compared to the one used by the most reputable banks. High-level encryption and multi-level authentication are used here. So far, there have been no cases of hacking on this platform. However, it is too early to evaluate the security of this exchange due to its insufficient existence in the market.

Available coins                                     200 tokens and 450 currency pairs.
Fees and commissions All deposits are free of charge. Withdrawal fees are set per currency. A fixed fee of 0.10% is charged for all transactions.
Wallet Available.
Payments All major payment channels are supported, including electronic systems.
Security Two-factor authentication from 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 rebranded as Bitpanda. The goal of the platform was to make cryptocurrency trading accessible and easy for everyone. To this end, the founders created a user-friendly website that even a novice user can 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 automated tools that make trading cryptocurrencies much easier. Once you have enough experience in the industry, you will be able to trade between digital assets and metals. The company has many affiliates around the world that offer additional opportunities to make money. You can invest in your own exchange token and use it to minimize operating costs.

Available coins                                    Over 30 cryptocurrencies.
Fees and commissions All deposit and withdrawal fees are fixed per currency. The same approach works for cryptocurrency trading.
Wallet Bitpanda cryptocurrency wallet.
Payments Wire transfers, bank cards, electronic systems.
Security 2-factor authentication for each connection. Cold storage of funds. Validation by email address.
Mobile applications Available.

Coinmama

Coinmama is another decent source for cryptocurrency trading. It launched in 2013 when cryptocurrencies made a strong entry 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 range of cryptocurrencies offered on this platform is not very large. When buying bitcoin via credit card, be prepared that there is a limit to the amount you can buy. And don't forget to check what commission will be charged for the amount you want to trade. Enough payment channels are accepted on the site. You will also find decent multilingual support as the exchange is geared towards the global market. The only drawback is that there is no cryptocurrency wallet on this platform. Other than that, it is a good option for beginners.

Available coins                                   More than 10 cryptocurrencies.
Fees and commissions There is a service fee for using a bank card. A fixed fee applies when selling and buying cryptocurrencies.
Wallet No portfolio available.
Payments Bank transfers, credit cards, electronic systems, SEPA and SWIFT payments.
Security Technologie ochronne Trust Guard i Comodo.
Mobile applications Available.

Paxful

The exchange began serving traders in 2015, registering in the US. Since its inception, the service has targeted a global audience, accepting clients from Europe and the US. The platform itself is quite basic, with reliable protection and affordable rates. In other words, you can call Paxful a P2P exchange. If you start working here, you need to create your portfolio. You can check other traders' portfolios and assess their reliability before confirming trades.

One of the main drawbacks of this service is that it only allows you to trade with bitcoin. In fact, you can use the whole list of currencies to pay with 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 multiple payment methods.

Available coins                                   Bitcoin.
Fees and commissions A 1% commission is charged on all sales, while purchases are free. Additional fees may apply depending on the payment method selected.
Wallet Paxful portfolio application.
Payments All known payment methods are supported.
Security Mandatory verification procedure; 2-factor authentication.
Mobile applications Paxful portfolio application.

HitBTC

This scholarship is based in Denmark. It was launched in 2013. The service was created to offer the widest possible range of cryptocurrencies to individuals. Currently, the exchange offers more than 800 currency pairs. You can 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 currency. Here you can only trade in cryptocurrencies. 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 a higher fee.

Available coins                                   800 currency pairs.
Fees and commissions All deposits are free of charge. Withdrawal fee is set for each currency. Multi-level trading system.
Wallet There is no cryptocurrency wallet.
Payments Only cryptocurrencies are accepted.
Security 2-factor authentication; high level encryption technology.
Mobile applications Non.

As you can see, the market is full of excellent bags. Now, you need to analyze your needs and choose the one that best meets your expectations.

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