Cryptocurrency trading platforms South Africa 2021
Digital assets are on an upward wave
Until 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 kind of money immediately created a lot of interest in turning cryptocurrency into a powerful trading instrument. And this was mainly motivated by its high volatility.
In the early days, you could find very different prices for the same cryptocurrency, including bitcoin. And 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 early years. It is not yet stable, but a clear trend has emerged in recent years.
Some coins proved to be so reliable that they attracted the attention of traders. So the cryptocurrencies were directed to an exchange where they could be freely traded. The whole 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 by responding quickly 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 exchange cryptocurrencies. Many platforms accept both fiat money and cryptocurrencies. So you can sell and buy both fiat and cryptocurrencies in any combination.
In fact, there is nothing special about how trading 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 goods. All you have to do is enter the amount you want to sell or buy and start trading. You can then keep the received funds until their value increases and continue trading them.
Cryptocurrencies are traded in the same way as other assets. There is a certain market value that largely depends on many external factors, the main ones being supply and demand. It can be explained that cryptocurrencies are quite unique and have no value in the real world.
In order to deposit money into your cryptocurrency exchange account, you must have an active virtual wallet. This is a storage service for your cryptocurrency. You will use your wallet address to transfer funds to your exchange account. Please check if the exchange in question accepts the coins you will be selling. Some exchanges offer their own built-in wallets that are well protected.
After loading your currency account from your wallet, you can create a buy or sell order in the system. When the other interested customer sees your offer and is satisfied with the prices and other details, the transaction is initiated. So, the purpose of the exchange is to help people make mutually beneficial transactions. Please always check what the exchange requirements are for this type of transaction, 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, it is imperative that 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 highly valued. The currency is already approaching its supply limit, so fluctuations are inevitable when no more coins are expected to be in circulation. At least that'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 that affects demand. It is essential to consider all the benefits 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 roughly predict 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. Cryptocurrencies may lose their current value. But the adoption of cryptocurrencies is inevitable and will be reflected in their value.
- Media. All forms of mass media always have influence on the value of cryptocurrencies. Public reaction can seriously change the value of any coin. So any information can lead to unexpected jumps of cryptocurrency. All people follow major events today, and any breaking news immediately becomes an effective tool for price prediction.
This list is not complete, but these factors are the most crucial.
Stock Market Overview
Nowadays, you can find many cryptocurrency exchanges and the average user often struggles with which one to choose. Sometimes these services may have similar offerings, but still there are differences. Therefore, it is important to know these nuances and understand how they differ if you intend to exchange cryptocurrencies.
The most important feature is the level of security that this or that exchange provides to its customers. This is critical when trading in an online environment. Therefore, when looking for a reliable exchange, make sure that this is the number one criterion. A cryptocurrency exchange is your guide in the world of cryptocurrencies.
It is one of the largest exchanges. It started 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 even the smallest changes in the market. Besides, the service offers an extensive list of currencies for trading. But it should be mentioned that some of Coinbase's competitors have an even better assortment of cryptocurrencies. The exchange 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 favorable trading environment with all the features that an average user may need in the working process. It is highly recommended for newcomers in the cryptocurrency sphere. Find out more about the main features:
|Available currencies||23 coins.|
|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 is charged, depending on the payment method.|
|Cartera||Free online wallet compatible with mobile devices.|
|Payments||All major payment methods - bank card, bank transfer, e-services.|
|Security||Two-factor authentication; traffic encryption using SLL protocols; wallet is encrypted using AES-256 protocol; only 2% of client funds are stored online and are secured.|
|Mobile 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 cryptocurrencies. Binance works not only with digital money - it accepts fiat money as well, although cryptocurrencies still dominate. It also offers the ability to trade its own symbol: 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 the 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 money. This feature makes trading accessible to literally anyone. The only downside that you may encounter is the somewhat complicated setup. Beginners may find it a bit difficult to navigate the site. Other than that, it works great.
|Available currencies||740 fiat e crypto pairs.|
|Fees and commissions||Flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for BNB token transactions.|
|Cartera||Mobile App - Trusted 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 improve platform security.|
|Mobile applications||Free app for iOS and Android.|
This exchange entered the market in 2011. The site grew at an impressive rate and within a few years became one of the leading exchanges on the market. It remains very popular among traders because it offers a good selection of both altcoins and fiat currencies. While 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 find it difficult at first, but with a little effort, they too can master the interface. Once they make their first successful trades, things will start moving faster.
In short, this exchange has everything a trader might need for day-to-day trading. The only drawback that needs to 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 funds. If you do not find the desired option, you may not want to work with this particular exchange.
|Available currencies||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 changes to 0.14% and 0.24% respectively.|
|Cartera||There is no such thing as a cryptocurrency wallet.|
|Payments||Transactions can only be made directly from cryptocurrency wallets or by 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 y Kraken Futures.|
This exchange was launched in 2014. This was the moment when cryptocurrencies entered the global financial market and became an interesting instrument to trade. Its founders approached the task correctly, offering a really impressive selection of coins. This makes it easy for traders to diversify their trading portfolio to get a better result. Moreover, the creators of the exchange have also 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 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.|
|Cartera||Online cryptocurrency wallet.|
|Cryptocurrency wallets, bank cards and bank transfers.|
|Security||Approximately 80% of all funds are cold-stored; 2-factor authentication; IP verification via email address when a user registers with a new IP address; IP whitelisting.|
|Mobile applications||Bittrex Global and the Bittrex app.|
This exchange welcomed its first customer back in 2014. And it only took a few years to attract thousands of traders. Mostly thanks to their tempting margin trading offers. There was no other platform with such attractive requirements for binary trading. For example, with futures, a 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, margin trading is advisable 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 gaining the benefits of margin trading.
|Available currencies||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.|
|Cartera||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.|
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 option. As mentioned earlier, in order to use margin in your trading, you need to have some experience. 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 extremely 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||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.|
|Cartera||There are three different portfolios available - Margin, Foreign Exchange, Funding.|
|Payments||The service accepts cryptocurrency wallets, bank cards and wire transfers.|
|Security||99.5% of all funds are stored in cold wallets; multi-step authentication is required to get to this money so it is 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.
On the platform, any trader can find a favorable deal and discuss fees with other participants until an agreement is reached. To facilitate the trading process, you can open a deposit account. The exchange has managed to create a really reliable environment for trading. Therefore, it is popular enough, especially among beginners in the industry. However, it should be mentioned 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 are charged 1% of the turnover amount.|
|Cartera||Cryptocurrency wallet for btc.|
|Payments||Wire transfers, bank cards, electronic systems.|
|Security||2-factor authentication; system kont escrow.|
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 transactions, the lower the commission you will be charged.
Poloniex uses separate commissions for buyers and producers. This is to encourage traders to open more positions, as the makers pay really small fees for this. There is a whole list of other benefits for traders registered with Poloniex - these include chat boxes, analytical tools, news and 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. The withdrawal rate is fixed for each currency. Commissions are shared between borrowers and originators.|
|Cartera||Online cryptocurrency wallet.|
|Payments||Payment methods vary depending on the seller's country of residence.|
|Security||2-factor authentication konta.|
It is one of the youngest registered exchanges in Singapore in 2017. Despite its age, the platform was created by very experienced market players. Therefore, 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 at the exchange. It can be compared to that 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 assess the security of this exchange due to its insufficient existence in the market.
|Available currencies||200 tokens 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.|
|Payments||All major payment channels are supported, including electronic systems.|
|Security||Google 2-factor authentication.|
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 would navigate effortlessly. This approach has worked well, as the exchange has attracted over a million users in just a few years.
Besides cryptocurrencies, you can also trade other instruments here: silver and gold. The platform offers automated tools that make trading cryptocurrencies much easier. After gaining enough experience in the industry, you will be able to trade between digital goods and metals. The company has many affiliates around the world that offer additional opportunities to make money. You can invest in your own exchange symbol and use it to minimize your operating costs.
|Available currencies||More than 30 cryptocurrencies.|
|Fees and commissions||All deposit and withdrawal fees are fixed per currency. The same approach works for cryptocurrency trading.|
|Cartera||Bitpanda cryptocurrency wallet.|
|Payments||Wire transfers, bank cards, electronic systems.|
|Security||Authentication with 2 factors for each login. Cold storage of funds. Validation via email address.|
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 for the exchange itself.
The supply of cryptocurrencies is not that wide on this platform. When you buy bitcoins via credit card, be prepared that there is a limit to the amount you can buy. Also, do not forget to check what commission will be charged for the amount you want to exchange. Enough payment channels are accepted on the site. Moreover, you will find decent multilingual support as the exchange is geared towards the global market. The only downside is that there is no cryptocurrency wallet on this platform. Other than that, it is a good option for beginners.
|Available currencies||More than 10 cryptocurrencies.|
|Fees and commissions||There is a service fee for using a bank card. Fixed fees apply when selling and buying cryptocurrencies.|
|Cartera||No portfolio available.|
|Payments||Wire transfers, bank cards, electronic systems, SEPA and SWIFT payments.|
|Security||Technologie ochronne Trust Guard i Comodo.|
This exchange began serving traders in 2015, registered in the United States. Since its inception, the service has targeted a global audience, accepting clients from Europe and the United States. The platform itself is quite basic, with reliable protection and affordable prices. In other words, Paxful can be called a P2P exchange. If you start working here, you need to create your wallet. Before confirming a trade, you can check other traders' portfolios and assess their reliability.
One of the biggest drawbacks of this service is that it only allows you to trade in bitcoin. In fact, you can use a whole list of currencies to pay with bitcoin. 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.
|Fees and commissions||A 1% commission is charged on each sale, while purchases are free. Depending on the payment method selected, an additional fee may be charged.|
|Cartera||Paxful Wallet Application.|
|Payments||All known payment methods are supported.|
|Security||Mandatory verification procedure; 2-factor authentication.|
|Mobile applications||Paxful Wallet Application.|
This exchange is based in Denmark. It was launched in 2013. The service was created with the aim of offering 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 so that 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 money. 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 higher fees.
|Available currencies||800 commercial pairs.|
|Fees and commissions||All deposits are free of charge. Withdrawal commission is fixed for each currency. Multi-level trading system.|
|Cartera||There is no such thing as a 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 bags. Now you have to analyze your needs and choose the one that best suits your expectations.