Major cryptocurrency exchanges South Africa 2021
Digital assets are on the rise
Before 2009, no one had ever heard of cryptocurrencies. But the invention of bitcoin gave rise to thousands of new electronic currencies, making the choice truly enormous. Logically, this new kind of money immediately sparked considerable interest in turning cryptocurrency into a powerful commercial tool. And it 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 existed only in the electronic space, they had no directly assigned value. All of this led to dramatic fluctuations in the prices of all digital currencies during the first few years of their existence. It is still not stable, but there has been a clear trend in recent years.
Some coins proved to be reliable enough to attract the attention of traders. Thus, cryptocurrencies paved the way for the creation of an exchange where they could be freely traded. The whole process was simple enough - traders exchanged one commodity for another with the goal of holding the commodity until its price rose. The popularity of these activities led to the emergence of many new exchanges around the world. And all of them work quickly, reacting to all changes in the market.
What is a crypto exchange?
Before comparing the best exchanges in the world, it is necessary to understand how they work.
A crypto exchange is a service that allows you to exchange cryptocurrencies. Many platforms accept both fiat money and cryptocurrencies. Therefore, you can sell and buy both fiat and cryptocurrencies in any combination.
In fact, there is nothing special about conducting exchanges. You just need to 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 sell or buy and start trading. You can then hold the funds you receive until their value rises and continue trading.
Cryptocurrencies are traded like all other assets. There is a certain market value, which is heavily influenced by numerous external factors, the main ones being supply and demand. This can be explained by the fact that cryptocurrencies are completely unique and have no real value.
To be able to fund your account on a cryptocurrency exchange, you need to have an active virtual wallet. This is a service for storing your cryptocurrency capital. You will use the wallet address to send funds to the exchange account. Please check if the particular exchange accepts the coins you are going to sell. Some exchanges offer their own built-in wallets that are well protected.
When you load your currency account from your wallet, you can create a buy or sell order in the system. Once another interested customer sees your offer and is satisfied with the rates and other details, you initiate the transaction. Thus, the purpose of the exchange is to help people conduct mutually beneficial business. Always check the exchange requirements for these transactions, as they may vary slightly from place to place.
What affects the value of cryptocurrencies?
Digital assets are always very volatile, their value is difficult to predict.
Before you start actively trading on reputable cryptocurrency exchanges, make sure you know more about cryptocurrencies, in particular what affects their value. It is impossible to list all the factors, but here are the most important ones to keep in mind.
- 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 bitcoins can be mined. This amount is really nothing when it comes to any currency. This is the reason why bitcoin is so highly valued. This currency is already approaching its supply limit, so fluctuations are inevitable when no more coins are expected in circulation. At least, that is the opinion of major bitcoin holders.
- 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 very important to consider all the advantages that a particular currency offers, as well as the rules that apply to the various currencies. Once 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 with certainty how regulations will limit the use of cryptocurrencies. Cryptocurrencies could lose their current value. But the adoption of cryptocurrencies is inevitable, and this 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 important.
Stock Exchange Overview
Today you can find many cryptocurrency exchanges, and the average user often finds it difficult to choose. Sometimes these services may have similar offers, but there are still differences. Therefore, it is important to know these nuances and understand how they differ if you are going to exchange cryptocurrencies.
The most important characteristic is the level of security that a particular exchange provides to its clients. This is very important when you make transactions in an online environment. Therefore, when you are looking for a reliable exchange, make sure that this is the number one criterion. A cryptocurrency exchange is your guide to the world of cryptocurrencies.
It is one of the largest exchanges. It began operations in 2012, shortly after the invention of Bitcoin. It is based in the U.S. and works according to all the rules 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 take advantage of advanced charting capabilities and effective indicators to detect even the smallest changes in the market. In addition, the service offers an extensive list of currencies for trading. But it is fair to say that some of Coinbase's competitors have an even better variety of cryptocurrencies. The exchange system is very easy to use, and even a novice will quickly learn how to navigate the site. If you are going to use a crypto exchange wallet, be sure it is well protected from piracy. Overall, this exchange offers a really favorable trading environment with all the features a regular user might need in the process. It is especially recommended for newcomers to the cryptocurrency industry. Familiarize yourself with the main features:
|Available currencies||23 coins.|
|Fees and commissions||You pay US$0.00 for all transactions under US$10; you pay US$1.49 for transactions of US$10 to US$25; you pay US$1.99 for transactions of US$25 to US$50; you pay US$2.99 for transactions of US$50 to US$200. Higher amounts are subject to a flat rate of interest, depending on the payment method.|
|Portfolio||Free online wallet compatible with mobile devices.|
|Payments||All the main means of payment - bank 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 kept online and they are insured.|
|Mobile applications||For iOS and Android.|
This crypto platform was founded in 2017. Despite its young age, it has managed to attract many traders. One thing is easy to explain: the exchange offers its clients more than 150 different cryptocurrencies. It's pretty hard to find a service with such an impressive selection of crypto-assets. Binance doesn't just work with digital money - it accepts fiat money as well, even if cryptocurrencies still dominate. It also offers to trade its own token, BNB. Very soon the exchange reached a very high trading volume, which allowed it to take its place among the most influential crypto-platforms on the world stage. And its flexible and affordable payment system left its competitors far behind. In record time, the platform managed to create a huge customer base, and new users come to the service every day.
By registering on the site, you can make a deposit in cryptocurrency or in hard cash. This feature makes the exchange accessible to literally everyone. The only drawback you may find here is the somewhat complicated setup. It can be a bit difficult for a newbie to navigate the service. Otherwise, it works very well.
|Available currencies||740 fiat e cryptographic pairs.|
|Fees and commissions||A flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for transactions involving a BNB token.|
|Portfolio||Mobile App - Trust Portfolio.|
|Payments||All basic methods are supported - bank transfer, bank cards, electronic payments.|
|Security||The exchange launched a unique monitoring system - CryptoSafeAlliance (CSA). It combines a variety of services designed to improve platform security.|
|Mobile applications||Free app for iOS and Android.|
This exchange entered the market in 2011. The service has developed with impressive speed, and in just a few years it has become 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. Even if some other exchanges have more choices, Kraken has other strengths that encourage customers to stick with this particular exchange.
Users appreciate this exchange for the numerous technical features that are vital to successful trading - comprehensive charting tools and margin trading. Advanced traders benefit greatly from these features. Beginners may find it difficult at first, but with some effort, they will be able to master this interface as well. Once you successfully make your first few trades, things will start to go faster.
In short, this exchange has everything a trader might need for his daily activities. The only drawback that can be mentioned is the insufficient choice of payment methods. So before you decide to create an account on the site, you are free to deposit and withdraw your funds. If you don't find the right option, you might not feel comfortable working with this particular exchange.
|Available currencies||8 cryptocurrencies.|
|Fees and commissions||All transactions up to 50,000 units of this token are charged 0.16% to the seller and 0.26% to the buyer. For amounts over 50,000 in this currency, the fee changes to 0.14% and 0.24%, respectively.|
|Portfolio||No cryptocurrency wallet.|
|Payments||Only direct transactions from cryptocurrencies 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 e Kraken Futures.|
This exchange was launched in 2014. It was the time when cryptocurrencies appeared on the global financial market and became an interesting tool for trading. Its founders took the right approach by offering a really impressive selection of coins. This allowed traders to easily diversify their trading portfolio to achieve better results. Moreover, the creators of the exchange also added a virtual wallet to their service, allowing users to safely store their funds on the platform. The site is quite reliable, as many security technologies have been implemented here for the safety of 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.|
|Portfolio||Crypto online wallet.|
|Payments||Cryptocurrencies, bank cards and bank transfers.|
|Security||About 80% of all funds are stored in cold storage; two-factor authentication; IP address verification by email address when user logs in through new IP address; IP address whitelisting.|
|Mobile applications||Bittrex Global and the Bittrex app.|
This exchange took its first client in 2014. And it took only a few years to attract thousands of traders. This was mainly due to its tempting margin trading offers. There was no other platform with such attractive requirements for binary trading. For example, for futures, a trader can use leverage, which is a powerful method for significantly multiplying profits. At the same time, leverage is a complex mechanism that is always associated with high financial risk. Therefore, margin trading is appropriate only for traders with sufficient experience in the market.
Bitmex is a reliable platform. The registration process is more than simple. It's a great compromise between ease of use and lots of additional features. Traders continue to join the exchange with the intention of benefiting from margin trading.
|Available currencies||55+ trading pairs.|
|Fees and commissions||There are no deposit or withdrawal fees. Users pay 0.075% of the total transaction fee for all transactions.|
|Portfolio||BitMex Online Wallet.|
|Payments||Service accepts only crypto wallets.|
|Security||Funds stored in cold wallets; two-factor authentication; SMS registration; wallets with multiple signatures.|
|Mobile applications||Bitmex mobile app.|
This exchange has been operating since 2012, it is considered one of the first services of this kind. All these years it managed to grow and remain popular. A winning feature of Bitfinex is margin trading. Many traders could make a steady profit using this feature. As mentioned, you need to have some experience to use margin in your trade. Otherwise, there is a high risk of losing your investment.
Bitfinex does not have the widest selection of trading instruments on the market. But the platform has been accepting both crypto and fiat assets since 2015, which has made it extremely popular among traders. Thanks to 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 deposit or withdrawal fees. All transactions in U.S. dollars are charged 0.1%, but not less than 20 U.S. dollars. The fee for a fiat money transaction is US$60. Other transactions are subject to a service fee of 0.1% for the originator and 0.2% for the borrower.|
|Portfolio||Three different portfolios are available - margin, currency, and stock.|
|Payments||Service accepts cryptocurrencies, bank cards and bank transfers.|
|Security||99.5% of all funds are stored in cold wallets; to get to that money, you have to go through several authentication steps to keep it secure.|
It is another pioneer among cryptocurrency exchanges. Local coins appeared on the market in 2012. Its main peculiarity is that originally it started as a P2P (peer-to-peer) service, and did not pay much attention to the trading volume.
The platform allows each trader to find a profitable offer and discuss fees with other participants until you come to an agreement. You can open an escrow account to facilitate the transaction process. The exchange has managed to create a really reliable environment for trading. That's why it's quite popular, especially among industry insiders. However, it is important to note that Localbitcoins operates with slightly higher commissions 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 contract value.|
|Portfolio||Cryptocurrency wallet for btc.|
|Payments||Bank transfers, bank cards, electronic systems.|
|Security||2 authentication factor; escrow account system.|
The first transactions of this exchange were registered in 2014. Since then, the platform has developed quite successfully. It offers over 100 cryptocurrency pairs for trading in a highly secure environment. The service charges very low commissions and offers many benefits to its customers. For example, the larger your trading volume, the lower the commission you will be charged.
Poloniex applies separate commissions to acceptors and producers. This is done to encourage traders to open more positions, since producers pay really small commissions. There is a whole list of other benefits for traders registered on Poloniex, such as a chatbox, analytical tools, news feeds, and more. The site has a very easy to navigate interface.
|Available currencies||More than 100 currency pairs.|
|Fees and commissions||All deposits are free of charge. Withdrawal fees are fixed for each specific currency. Fees are separated for borrowers and producers.|
|Portfolio||Crypto online wallet.|
|Payments||Methods of payment vary depending on the country of residence of the merchant.|
|Security||2 account authentication factor.|
It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform was created by very experienced market participants. Thus, 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.
One of the winning features is the high-class protection system implemented on the exchange. It can be compared to the one used by the most reputable banks. High-level encryption and multi-stage authentication are used here. So far, there have been no cases of hackers breaking into this platform. But it is too early to assess the security of this exchange because of the lack of existence on the market.
|Available currencies||200 tokens and 450 currency pairs.|
|Fees and commissions||All deposits are free of charge. Withdrawal fees are fixed for each specific currency. All transactions are subject to a fixed fee of 0.10%.|
|Payments||All major payment channels are supported, including electronic systems.|
|Security||2-factor authentication from Google.|
The exchange was originally known as Coinimal. This Austrian service was launched in 2014. But some time later it was renamed to Bitpanda. The goal of creating the platform was to make cryptocurrency trading accessible and easy for everyone. To do this, the founders created an easy-to-use website that even an absolute beginner could easily navigate. This approach worked well, as the exchange attracted more than a million users in just a few years.
In addition to cryptocurrencies, you can trade other instruments here, such as silver and gold. The platform offers automated tools that make cryptocurrency trading very easy. When you have enough experience in this industry, you can trade between digital assets and metals. The company has many subsidiaries around the world that offer additional earning opportunities. You can invest in the exchange symbol itself and use it to minimize transaction fees.
|Available currencies||More than 30 cryptocurrencies.|
|Fees and commissions||All deposit and withdrawal fees are fixed for each specific currency. The same approach works for crypto-businesses.|
|Portfolio||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.|
Coinmama is another decent resource for trading cryptocurrencies. It started its activity in 2013, when cryptocurrencies firmly entered the global financial system. You should not treat the platform as an exchange service. Technically, you buy and sell assets for the exchange itself.
The selection of cryptocurrencies on this platform is not that wide. When you buy cryptocurrencies 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 exchange. The site accepts a fair number of payment channels. In addition, you can find decent multilingual support since the exchange is geared towards the global market. The only drawback is that there is no cryptocurrency wallet on this platform. Otherwise, it is a good option for a beginner.
|Available currencies||More than 10 cryptocurrencies.|
|Fees and commissions||A service fee is charged for using the bank card. Fixed commissions for selling and buying cryptocurrencies.|
|Portfolio||There is no portfolio.|
|Payments||Bank transfers, bank cards, electronic systems, SEPA and SWIFT payments.|
|Security||Comodo's fiduciary guardianship and protection technologies.|
This exchange began serving traders in 2015 and was registered in the United States. Since its creation, the service has been focused on a global audience, accepting clients from Europe and the United States. The platform itself is pretty basic, with robust security and affordable rates. In other words, Paxful can be called a P2P exchange. If you start working here, you'll need to create your own wallet. You can examine other traders' wallets and evaluate their reliability before confirming a transaction.
One of the biggest drawbacks of this service is that it only allows you to exchange bitcoins. In fact, you can use a whole list of currencies to pay with bitcoin. But when it comes to a buy/sell transaction, you can only sell bitcoin. All sales are charged a 1% commission, while purchases are free. The exchange supports multiple payment methods.
|Fees and commissions||All sales are charged a 1% commission, while purchases are free. Depending on the selected payment method, additional fees may apply.|
|Portfolio||Paxful wallet app.|
|Payments||All known payment methods are supported.|
|Security||Mandatory verification procedure; 2 authentication factors.|
|Mobile applications||Paxful wallet app.|
This exchange is based in Denmark. It was launched in 2013. The service was created in order to offer individuals the widest possible choice of cryptocurrencies. Currently, the exchange offers more than 800 trading pairs. On this platform, you can find even the rarest coins. This approach is a great way for users to diversify their investment portfolio. HitBTC offers a demo account that allows every new customer to test the service for free. All client funds are protected by the most reliable technology. The exchange allows customers to trade large volumes.
The disadvantage of the platform is that it does not accept fiat money. Only cryptocurrencies can be traded here. But to overcome this drawback, the exchange has added a special built-in system where you can buy digital coins and pay with a bank card. But in this case you will have to pay higher commissions.
|Available currencies||800 trading pairs.|
|Fees and commissions||All deposits are free of charge. Withdrawal fees are fixed for each specific currency. Multilevel 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 great exchanges. Now you need to analyze your needs and choose the option that best meets your expectations.