Platforms to invest in cryptocurrencies South Africa 2021
          

Platforms to invest in cryptocurrencies South Africa 2021

Digital assets are on the rise

Until 2009, no one had heard of cryptocurrencies. But the invention of Bitcoin launched thousands of new electronic currencies, making the choice truly enormous. Logically, this new form of money immediately generated a lot of interest in making cryptocurrencies a powerful trading tool. The main reason for this was its high volatility.

In the early days, you could find very different prices for the same cryptocurrency, including Bitcoin. And because these new coins existed only in the electronic space, they had no directly attributable value. All this led to dramatic fluctuations in the price of all digital currencies in the first years of their existence. It is still not stable, but in recent years a clear trend is emerging.

Some currencies proved reliable enough to attract the attention of traders. That's how cryptocurrencies ended up on the exchange, where they could be freely traded. The whole process is very simple: traders exchange one asset for another to hold it until its price rises. The popularity of this activity led to the creation of many new exchanges around the world. And they all function quickly and respond to all market changes.

What is a cryptocurrency exchange?

Before comparing the best stock markets in the world, you need to understand how they work.

A cryptocurrency exchange is a service that allows you to trade in cryptocurrencies. Very many platforms accept both fiat money and electronic coins. So you can sell and buy both fiat and cryptocurrencies, in any combination.

There is really nothing special about the exchange service. All you have to do is register on the platform of your choice and start trading. These services bring together real people who want to exchange their digital assets. You just need to enter the amount you want to sell or buy and start the transaction. You can then keep the funds you receive until their value increases and keep trading them.

Cryptocurrencies are traded like any other asset. There is a certain market value, which is strongly influenced by various external factors, the most important of which are supply and demand. This can be explained by the fact that cryptocurrencies are completely unique and have no real value.

To open your account on a cryptocurrency exchange, you need an active virtual wallet. This is a service for storing your cryptocurrency capital. You will use the wallet address to transfer funds to the exchange account. Check whether the particular exchange accepts the coins you want to sell. Some exchanges offer their own built-in wallets, which are well secured.

Once you have funded your exchange account through your wallet, you can create a buy or sell order in the system. Once another interested buyer sees your offer and agrees to the prices and other details, you begin the transaction. Thus, the purpose of the exchange is to help people make mutually beneficial transactions. Always check the requirements for such transactions, as they may vary slightly from site to site.

What influences the value of cryptocurrencies?

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

Before you start actively trading on reputable cryptocurrency exchanges, you should learn more about cryptocurrencies, especially what affects their value. It is 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 Bitcoins can be mined. That amount really amounts to nothing when it comes to currency. This is why Bitcoin is valued so highly. This currency is already approaching its inventory limit, so fluctuations are inevitable when no more coins are expected to be in circulation. At least, that's what the big bitcoin owners 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 important to consider all the advantages that a particular coin offers, as well as the rules that apply to the different coins. Once you know how much interest there is in a particular coin, you can predict approximately how much the demand will affect its value.

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

No one can say for sure how regulation will limit the use of cryptocurrencies. Electronic currencies could 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 factors are the most important.

Overview of Exchanges

There are many exchanges for cryptocurrency today, and the average user is often left with the problem of choosing one. Sometimes these services have similar offerings, but there are still differences. Therefore, it is important to know these nuances and understand how they differ when you want to trade in cryptocurrencies.

The most important feature is the level of security that this exchange offers its customers. This is very important when you are conducting transactions in an on-line environment. So if you are looking for a reliable exchange, you should make sure that this is the main criterion. A crypto exchange is your guide in the world of cryptocurrencies.

Coinbase

It is one of the largest exchanges. It began operations in 2012, shortly after bitcoin was invented. It is based in the US and operates under all the rules that apply here. Once you join the platform, you can use one of two accounts - Standard and Pro. This exchange charges a high rate for a Standard account, while a Pro account has many advantages. Pro account holders benefit from advanced charting capabilities and powerful indicators that allow you to notice even the smallest changes in the market. The service also offers an extensive list of coins to trade. However, it is fair to say that some Coinbase competitors have an even larger selection of cryptocurrencies. The exchange system is very user-friendly, and even a novice will quickly learn how to navigate the site. If you use the exchange's cryptocurrency wallet, you can rest assured that it is well protected against hacking. Overall, this crypto exchange offers a truly beneficial trading environment with all the features a regular user needs when working. It is especially recommended for those who are new to cryptocurrencies. Check out the main features:

Available currencies                                     23 coins.
Fees and commissions You pay $0.00 for all bets under $10; you pay $1.49 for bets between $10 and $25; you pay $1.99 for bets between $25 and $50; you pay $2.99 for bets between $50 and $200. And for higher amounts, a flat rate is charged depending on the payment method.
Wallet A free online portfolio that is compatible with mobile devices.
Payments All major payment methods - bank card, bank transfer, e-services.
Safety Two-factor authentication; encryption of data traffic with SLL protocols; wallet is encrypted with AES-256 protocol; only 2% of customer money is stored and insured online.
Mobile applications For iOS and Android.

Binance

This crypto platform was founded in 2017. Although it is still young, it has managed to attract many traders. It is easy to explain - 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 in its own token, BNB. The exchange quickly reached a very high trading volume, rightfully ranking it among the most influential crypto platforms on the world stage. Its flexible and accessible payment system left its competitors far behind. The platform managed to build a huge customer base in record time, with new users joining every day.

When you register on the website, you can make a deposit in cryptocurrency or fiat money. This feature literally makes the exchange accessible to everyone. The only drawback you might find here is the somewhat complicated setup. It can be a bit difficult for a newbie to navigate through the service. Other than that, it works perfectly.

Available currencies                                  740 trading  pairs.
Fees and commissions Flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for transactions with NBB tokens.
Wallet The mobile app is Trust Wallet.
Payments All basic methods are supported - bank transfer, debit cards, electronic payments.
Safety The exchange has introduced an exclusive surveillance system, CryptoSafeAlliance (CSA). It brings together a whole range of services designed to increase the security of the platform.
Mobile applications Free app for iOS and Android.

Kraken

This exchange appeared on the market in 2011. The service has developed at an impressive pace and has become one of the leading exchanges on the market in just a few years. It remains very popular with traders because it offers a good selection of altcoins and fiat currencies. Although some other exchanges offer a wider selection, Kraken has other strengths that encourage customers to stay with it.

Users appreciate this exchange for its variety of technical options that are essential for successful trading - comprehensive charting tools and margin trading. Advanced traders benefit greatly from these features. Beginners may struggle with them at first, but with a little effort, they too can master the interface. Once you have successfully completed your first trades, things will speed up.

Overall, this exchange offers everything a trader needs for his daily work. The only drawback worth mentioning is the insufficient choice of payment options. So before you decide to open an account on the site, you should check whether you are free to make deposits and withdrawals. If you do not find the option you want, then you may not feel comfortable working with this particular exchange.

Available currencies                                    8 Cryptocurrencies.
Fees and commissions For all transactions up to 50,000 units of this token, the seller is charged 0.16% and the buyer is charged 0.26%. For amounts over 50,000 of this token, the fee changes to 0.14% and 0.24% respectively.
Wallet No wallet for cryptocurrency.
Payments Only direct transactions of cryptocurrencies or bank transfers. Bank cards are not accepted on this platform.
Safety Two-factor authentication; PGP encryption; the exchange also uses a global lock for the settings to prevent too many changes to the account.
Mobile applications Kraken Pro и Kraken Futures.

Bittrex

This exchange started in 2014. It was a time when cryptocurrencies found their way into the global financial market and became an interesting tool to trade with. The founders did their job well by offering a truly impressive selection of coins. They made it easy for traders to diversify their trading portfolios for better results. Moreover, the makers of the exchange also included a virtual wallet in their service, which allows users to keep their money safe on the platform. The site is very safe, as many security technologies have been applied here to keep the customers safe.

Available currencies                                    More than 250 trading pairs.
Fees and commissions The exchange uses a flexible commission system, but there is a different commission for each coin.
Wallet Online wallet for cryptocurrency.
Cryptocurrencies, bank cards and bank transfers.
Safety About 80% of all funds are stored in cold storage; two-factor authentication; verification of IP address by email address once user logs in via new IP address; whitelisting of IP addresses.
Mobile applications Bittrex Global и Bittrex App.

Bitmex

This fair 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 its enticing offers for margin trading. There was no other platform with such attractive terms for binary trading. In futures, for example, a trader could use leverage, which was a powerful way to multiply profits significantly. At the same time, leverage is a tricky mechanism that always carries a high financial risk. Therefore, margin trading is only suitable for traders with sufficient market experience.

Bitmex is a reliable platform. The sign-up process is more than simple. It is a nice compromise between ease of use and a lot of extra options. Traders sign up again and again to take advantage of margin trading.

Available currencies                                  55+ trading pairs.
Fees and commissions There are no deposit or withdrawal fees. For all transactions, you pay 0.075% of the total transaction amount.
Wallet BitMex online portemonnee.
Payments The service only accepts cryptocurrencies.
Safety Funds stored in cold portfolios; two-factor authentication; registration via SMS; multi-signature portfolios.
Mobile applications Bitmex mobiele app.

Bitfinex

This fair has been operating since 2012 and is considered one of the first services of its kind. Over the years, it has managed to grow and remain popular. An excellent feature of Bitfinex is margin trading. Many traders have been able to make steady profits with this setup. As mentioned earlier, you must have some experience to use margin for 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 since 2015, the platform accepts both cryptocurrencies and fiat assets, which has made it wildly popular with traders. With this feature, users from all over the world can easily use the exchange.

Available currencies                                   140 cryptocurrencies and more than 300 trading pairs.
Fees and commissions There are no deposit or withdrawal fees. All transactions in US dollars are charged 0.1%, with a minimum amount of $20. Transactions in Fiat money are charged $60. For other transactions, the service charges 0.1% for the sender and 0.2% for the recipient.
Wallet There are three different wallets available - Margin, Exchange, Financial.
Payments The service accepts cryptocurrencies, debit cards and bank transfers.
Safety 99.5% of all funds are stored in cold wallets. Access to this money requires authentication at various levels to ensure it is secure.
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 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 profitable offer and negotiate rates with other participants until you reach an agreement. You can open an escrow account to simplify the transaction process. The exchange has managed to create a truly robust trading environment. As a result, it is particularly popular with newcomers to the industry. However, it is important to note that Localbitcoins operates at slightly higher rates than other similar services.

Available currencies                                      Only Bitcoin is traded here.
Fees and commissions Buyers pay no commission, while sellers must pay 1% of the transaction amount.
Wallet Cryptocurrency wallet for btc.
Payments Bank transfers, bank cards, electronic systems.
Safety Two-factor authentication; system with blocked account.
Mobile applications Nee.

Poloniex

The first transactions on this exchange were registered in 2014. Since then, the platform has developed quite successfully. It offers more than 100 cryptocurrency pairs to trade in a very secure environment. The service charges very low commissions and offers its customers many benefits. For example, the higher your trading volume, the lower the commissions are.

Poloniex charges separate commissions for acceptors and makers. This is done to encourage traders to open more positions, as makers only pay very small commissions. There are a number of other benefits for traders registered on Poloniex, including a chat box, analysis tools, a news feed and much more. The website has a very easy to navigate interface.

Available currencies                                        100+ trading pairs.
Fees and commissions All deposits are free. Withdrawal fees are set for each coin. A joint fee for takers and makers.
Wallet Online wallet for cryptocurrency.
Payments Payment methods vary according to the country in which the retailer is located.
Safety Twee-factor accountauthenticatie.
Mobile applications Available.

KuCoin

It is one of the youngest exchanges listed in Singapore in 2017. Despite its age, the platform has been developed by highly experienced market participants. As such, the service has everything needed for successful cryptocurrency trading. Thanks to its state-of-the-art features, it immediately gained popularity and attracted users from almost every country in the world.

One of its notable features is the stock exchange's first-class security system. It is similar to the system used by the best-known banks. It uses high-level encryption and multi-level authentication. So far, there have been no cases of intrusion on this platform. But it is too early to judge the security of this exchange, as it has not been on the market for long.

Available currencies                                       200 coins and 450 currency pairs.
Fees and commissions All deposits are free. Withdrawal fees are set for each currency. A flat fee of 0.10% is charged for all transactions.
Wallet Available.
Payments All major payment channels are supported, including electronic systems.
Safety Two-factor authentication from Google.
Mobile applications Available.

Bitpanda

The exchange was originally known as Coinimal. This Austrian service was launched in 2014. However, some time later it was renamed Bitpanda. The goal of founding 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 complete novice could navigate without difficulty. This approach proved to be successful, as the exchange attracted more than a million users within a few years.

Apart from cryptocurrencies, you can also trade other instruments here, such as silver and gold. The platform offers automated tools that make trading cryptocurrency very easy. If you have enough experience in this sector, you can trade between digital assets and metals. The company has many offices around the world that offer additional ways to make money. You can invest in your own exchange token to minimize transaction costs.

Available currencies                                     30+ cryptocurrencies.
Fees and commissions All deposit and withdrawal fees are set for each individual currency. The same approach applies to cryptocurrency trading.
Wallet Bitpanda cryptocurrency portemonnee.
Payments Bank transfers, bank cards, electronic systems.
Safety Two-factor authentication for each login. Cold storage of funds. Validation via email address.
Mobile applications Available.

Coinmama

Coinmama is another good source of information on cryptocurrency trading. It started in 2013, when cryptocurrencies made their appearance in the global financial system. You should not think of the platform as an exchange service. Technically, you are buying and selling assets on the exchange itself.

The selection of cryptocurrencies on this platform is not that large. When buying bitcoins with a credit card, be prepared that the amount you can buy is limited. And be sure to check what fees are charged for the amount you want to redeem. The site accepts numerous payment options. You will also find good multilingual support, as the exchange is geared toward the global market. The only drawback is that there is no wallet for cryptocurrencies on this platform. Otherwise, it is a good option for beginners.

Available currencies                                     10+ cryptocurrencies.
Fees and commissions Service fees are charged for the use of the bank card. Fixed fees for buying and selling cryptocurrencies.
Wallet There is no portfolio.
Payments Bank transfers, bank cards, electronic systems, SEPA and SWIFT payments.
Safety Trust Guard and Comodo security technologies.
Mobile applications Available.

Paxful

This exchange was registered in the US 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 US. The platform itself is quite simple, with solid security and affordable fees. In other words, Paxful can be described as a P2P exchange. When you start here, you need to build your portfolio. You can look at other traders' portfolios and assess their reliability before confirming a trade.

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 range of currencies to pay with Bitcoin. But when it comes to buying and selling transactions, you can only sell Bitcoins. All sales are charged 1% commission, while purchases are free. The exchange supports several payment options.

Available currencies                                    Bitcoin.
Fees and commissions All sales are charged 1% commission, while purchases are free. Additional fees may apply depending on the payment method selected.
Wallet Paxful portemonnee app.
Payments All known payment methods are supported.
Safety Mandatory authentication procedure; 2-factor authentication.
Mobile applications Paxful portemonnee app.

HitBTC

This stock exchange is based in Denmark. It was established in 2013. The service was established to provide individuals with the widest possible choice of cryptocurrencies. Currently, the exchange offers more than 800 trading pairs. Even the rarest coins can be found on this platform. This approach is an excellent way for users to diversify their investment portfolio. HitBTC offers a demo account, which allows any new client to try the service for free. All client funds are protected with the most secure technology. 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 inconvenience, the exchange has built in a special system where you can buy digital coins and pay with a bank card. In that case, however, you will have to pay higher commissions.

Available currencies                                      800 commercial components.
Fees and commissions All deposits are free. Withdrawal fees are set for each coin. Multi-level trading system.
Wallet No wallet for cryptocurrency.
Payments Only cryptocurrencies are accepted.
Safety Two-factor authentication; high-level encryption technology.
Mobile applications Nee.

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

SIMPLE AND RELIABLE
MONEY WITHDRAWAL
Neteller
Skrill
Mastercard
Visa
FNB
Capitec
Nedbank
ABSA
Standart Bank
Webmoney
Payguru