The best cryptocurrency exchanges South Africa 2021

Digital goods are on the rise

Until 2009, no one had heard of cryptocurrencies. But the invention of bitcoin has spurred the creation of thousands of new electronic currencies, making the choice truly enormous. Logically, this new type of money immediately sparked a lot of interest in turning cryptocurrency into a powerful trading instrument. And this was mainly due to 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 sharp fluctuations in the price of all digital currencies in their early years. It is still not stable, but a clear trend has emerged in recent years.

Some coins proved to be reliable enough to attract the attention of traders. Thus, cryptocurrencies entered the stock exchange, where they could be traded freely. The whole process was quite simple: traders exchanged one asset for another in order to hold it until its price rose. The popularity of these activities led to the emergence of many new exchanges around the world. And they all operate quickly, reacting to all changes in the market.

What is a cryptocurrency exchange?

Before you compare the best stock exchanges in the world, you need to understand how they work.

Cryptocurrency exchange is a service that allows you to exchange cryptocurrencies. Many platforms accept both fiat money and cryptocurrencies. Thus, you can sell and buy both fiat and cryptocurrencies in any combination.

There is really nothing special about the way an exchange works. You just need to register on the platform of your choice and start trading. These services connect real people who want to exchange their digital goods. All you have to do is enter the amount you want to sell or buy and start the trade. You can then hold the funds you receive until their value increases and continue to trade them.

Cryptocurrencies are traded in the same way as other assets. There is a certain market value, which is strongly influenced by numerous external factors, the main ones being supply and demand. This can be explained by the fact that cryptocurrencies are quite unique and have no real value.

To fund your account on a cryptocurrency exchange, you must have an active virtual wallet. This is a storage service for your cryptocurrency. It will use the wallet's address to send funds to the exchange account. Check to see if the particular exchange accepts the coins you intend to sell. Some exchanges offer their own built-in wallets, which are well protected.

Once you have funded your foreign exchange account with your wallet, you can create a buy or sell order in the system. Once another interested customer has seen your offer and is satisfied with the rates and other details, the transaction will begin. In this way, the purpose of the exchange is to help people make mutually beneficial deals. Always check what the exchange requirements are for this type of transaction, as they can vary slightly from location to location.

What affects the value of cryptocurrencies?

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

Before you start actively trading on reputable cryptocurrency exchanges, be sure to learn more about cryptocurrencies, in particular what influences their value. It is 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 bitcoins can be mined. That amount is really nothing when it comes to any currency. This is why bitcoin is so highly valued. This currency is already approaching its supply limit, so fluctuations are inevitable when no more coins are expected to be in circulation. At least, that is what the largest holders of bitcoin 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 affecting demand. It is very important to consider all the advantages that a particular currency offers, as well as the rules that apply to different currencies. Once you know the level of interest in a particular currency, you can roughly predict how 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 important.

Overview of Stock Exchanges

Many crypto exchanges can be found today, and the average user often has trouble knowing which one to choose. Sometimes these services may have similar offerings, 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 feature is the level of security that a particular exchange provides to its customers. This is crucial when it comes to transactions in an online environment. Therefore, when looking for a reliable exchange, make sure it is the number one criterion. A cryptocurrency exchange is your guide into the world of cryptocurrencies.

Coinbase

It is one of the largest exchanges. It started operating in 2012, shortly after the invention of Bitcoin. It is based in the United States and operates according to all the rules required here. Once you have joined the platform, you can use one of two accounts: standard and professional. This exchange has high fees for the standard account, while the pro account has many advantages. Professional account holders can take advantage of advanced charting features and efficient 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 range 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 the exchange's cryptocurrency wallet, you can rest assured that it is well protected against hacking. Overall, this crypto exchange offers a really favorable trading environment, with all the features that a regular user might need in the process. It is especially recommended for newcomers to the cryptocurrency industry. Learn about the main features:

Available currencies		23 coins.
Fees and commissions		You pay $0.00 for all transactions under $10; you pay $1.49 for transactions from $10 to $25; you pay $1.99 for transactions from $25 to $50; you pay $2.99 for transactions from $50 to $200. And for larger amounts, a fixed interest rate is charged, depending on the payment method.
Cartera		A 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; only 2% of customer funds are stored online and are secure.
Mobile Applications		For iOS and Android.

Binance

This cryptocurrency platform was founded in 2017. Despite its youth, it has managed to attract many traders. It is easy to explain one thing: the exchange offers its customers more than 150 different cryptocurrencies. It is very difficult to find a service with such an impressive selection of crypto-assets. Binance doesn't only work with digital money - it also accepts fiat money, although cryptocurrencies still dominate. It also offers the possibility to trade its own token: BNB. Very quickly, the exchange has achieved a very high trading volume, giving it its place among the most influential cryptocurrency platforms in the world. And its flexible and affordable payment system left its competitors far behind. In record time, the platform managed to build a huge customer base, with new users joining the service every day.

By registering on the site, you can make a deposit in cryptocurrency or fiat money. This feature makes the exchange accessible to literally everyone. The only drawback that you may encounter here is the somewhat complicated setup. For a newbie it can be a bit difficult to navigate the service. Otherwise, it works perfectly.

Available currencies		740 fiat and cryptocurrency pairs.
Fees and commissions		A flexible and competitive commission system. You pay 0.01% per transaction and only 0.075% for transactions with a BNB token.
Cartera		The mobile application is the Trust Portfolio.
Payments		All basic methods are supported: bank transfer, bank cards, electronic payments.
Security		The Exchange has launched a unique surveillance system, CryptoSafeAlliance (CSA). It brings together a number of services designed to increase the security of the platform.
Mobile Applications		Free app for iOS and Android.

Kraken

This exchange entered the market in 2011. The service has developed at an impressive pace and within a few years has become one of the leading exchanges on the market. It remains very popular among traders as it offers a good selection of both altcoins and fiat currencies. While other exchanges have a wider selection, Kraken has other strengths that encourage customers to stick with it.

Users appreciate this exchange for the many technical features that are vital for successful trading activities: comprehensive charting tools and margin trading. Advanced traders benefit greatly from these features. Beginners may find it challenging at first, but with some effort, they too can master the interface. Once they make their first successful trades, things will go faster.

In short, this exchange has everything a trader might need for day-to-day negotiations. The only drawback worth mentioning is the lack of choice of payment methods. Therefore, before you decide to open an account on the site, check whether you will be able to freely deposit and withdraw your funds. If you do not find the option you want, you may not want to work with that particular exchange.

Available currencies		8 cryptocurrencies.
Fees and commissions		For all transactions up to 50,000 units of a given currency, the seller is charged 0.16% and the buyer 0.26%. For amounts above 50,000 in a given currency, the rate changes to 0.14% and 0.24% respectively.
Cartera		There is no 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		Two-factor authentication; PGP encryption; the exchange also uses global configuration locking to prevent too frequent changes to accounts.
Mobile Applications		Kraken Pro и Kraken Futures.

Bittrex

This exchange was launched in 2014. It was the moment when cryptocurrencies entered the global financial market and became an interesting instrument for trade. Its founders approached the task correctly by offering a really impressive selection of coins. This allowed traders to easily diversify their trading portfolios for better results. In addition, the exchange's creators have also added a virtual wallet to their service, which allows users to store their funds securely on the platform. The site is quite secure, as many security technologies have been implemented to keep 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 currency.
Cartera		An online cryptocurrency wallet.
Payments		Cryptocurrency wallets, bank cards, and wire transfers.
Security		About 80% of all funds are stored in cold storage; two-factor authentication; IP address verification by email when a user registers via a new IP address; IP whitelisting.
Mobile Applications		Bittrex Global and the Bittrex application.

Bitmex

That exchange took its first customer back in 2014. And it took only a few years to attract thousands of traders. This was mainly due to the tempting margin trading offers. There was no other platform with such attractive requirements for binary trading. For example, in the case of futures, a trader could use leverage, which is a powerful method that allows you to multiply your profits considerably. At the same time, leverage is a complex mechanism that always involves high financial risk. Therefore, margin trading is only appropriate for traders with sufficient market experience.

Bitmex is a reliable platform. The registration process is more than simple. It is a great compromise between ease of use and many extra features. Traders continue to join the exchange with the intention of benefiting from margin trading.

Available currencies		More than 55 pairs of citations.
Fees and commissions		There are no deposit or withdrawal fees. Users pay 0.075% of the total transaction value for all transactions.
Cartera		BitMex online wallet.
Payments		The service only accepts cryptocurrency wallets.
Security		Funds stored in cold wallets; two-factor authentication; SMS logging; multi-signature wallets.
Mobile Applications		Bitmex mobile app.

Bitfinex

This exchange has been running since 2012 and is considered one of the first services of its kind. All these years it has managed to grow and remain popular. A winning feature of Bitfinex is margin trading. Many traders have been able to make steady profits using this feature. As I mentioned before, you need to have some experience to use margin for your trade. 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 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 seamlessly.

Available currencies		140 cryptocurrencies and over 300 trading pairs.
Fees and commissions		There are no deposit or withdrawal fees. All transactions in US dollars are charged 0.1%, but not less than USD 20. The fee for a fiat money transaction is USD 60. For other transactions, the service charges 0.1% for the sender and 0.2% for the receiver.
Cartera		Three different portfolios are available - Margin, Foreign Exchange, Financial.
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 at this money so that it is secure.
Mobile Applications		Available.

Localbitcoins

It is another pioneer among cryptocurrency exchanges. Local coins entered the market in 2012. Its main feature is that it originally started as a P2P (peer-to-peer) service, and did not focus on trading volume.

The platform allows each trader to find a favorable offer and discuss bets with other participants until an agreement is reached. You can open a deposit account to facilitate the transaction process. The exchange has managed to create a truly robust trading environment. This is why it is quite popular, especially among newcomers to the industry. However, it is important to note 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 transaction value.
Cartera		A cryptocurrency wallet for btc.
Payments		Bank transfers, bank cards, electronic systems.
Security		Two-factor authentication; escrow account system.
Mobile Applications		No.

Poloniex

The first transactions on this exchange were recorded in 2014. The platform has come a long way since then. 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 higher your trading volume, the lower the commission you will be charged.

Poloniex applies separate commissions to takers and makers. This is done to encourage traders to open more positions, as manufacturers pay really small commissions for doing so. There is a whole list of other benefits for traders registered at Poloniex, such as a chat box, analytical tools, a news feed 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 split between borrowers and originators.
Cartera		An online cryptocurrency wallet.
Payments		Payment methods vary according to the country in which the seller lives.
Security		Two-factor account authentication.
Mobile Applications		Available.

KuCoin

This is one of the youngest exchanges in Singapore in 2017. Despite its age, the platform was created by very experienced market participants. As such, the service has everything needed for successful cryptocurrency trading. Thanks to its cutting-edge features, it immediately gained popularity and attracted users from almost every country in the world.

One of the winning features is the high quality security system implemented at the exchange. It can be compared to that used by the most reputable banks. It uses high-level encryption and multi-stage authentication. So far there have not been any break-ins on this platform. But it is too early to assess the security of this exchange due to its lack of existence on the market.

Available currencies		200 chips 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 flat fee of 0.10%.
Cartera		Available.
Payments		All major payment channels are supported, including electronic systems.
Security		Two-factor authentication in Google.
Mobile Applications		Available.

Bitpanda

The exchange was originally known as Coinimal. This Austrian service was launched in 2014. But some time later, it was renamed Bitpanda. The goal of the platform's creation was to make cryptocurrency trading accessible and easy for everyone. To that end, the founders created a user-friendly website that even a complete novice could easily navigate. This approach has worked well, as the exchange has attracted more than a million users in just a few years.

In addition to cryptocurrencies, you can also trade other instruments here: silver and gold. The platform offers automated tools that make trading cryptocurrencies very easy. When you have enough experience in this sector, you can trade between digital goods and metals. The company has many affiliates around the world that offer additional earning opportunities. You can invest in your own exchange token and use it to minimize your operating costs.

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 cryptocurrency trading.
Cartera		Bitpanda cryptocurrency wallet.
Payments		Bank transfers, bank cards, electronic systems.
Security		Two-factor authentication for each login. Cold storage of funds. Validation via e-mail address.
Mobile Applications		Available.

Coinmama

Coinmama is another decent resource for trading cryptocurrencies. It was launched in 2013, when cryptocurrencies entered the global financial system. You should not treat the platform as an exchange service. Technically, you buy and sell assets on the exchange itself.

The cryptocurrency offerings on this platform are not that broad. When buying bitcoins via credit card, be prepared for the fact that there is a limit to the amount you can buy. And be sure to check what commission you will be charged for the amount you wish to exchange. The site accepts a fair number of payment channels. You can also 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. Otherwise, it is a good option for a beginner.

Available currencies		More than ten cryptocurrencies.
Fees and commissions		There is a service charge for the use of the bank card. There are fixed fees for selling and buying cryptocurrencies.
Cartera		There is no wallet.
Payments		Bank transfers, bank cards, electronic systems, SEPA and SWIFT payments.
Security		Trust Guard and Comodo security technologies.
Mobile Applications		Available.

Paxful

This exchange began serving merchants in 2015, having registered in the United States. Since its inception, the service has focused on a global audience, accepting customers from Europe and the United States. The platform itself is fairly basic, with robust security and affordable pricing. In other words, Paxful can be called a P2P exchange. If you start working here, you will have to create your own wallet. You can check other traders' wallets and evaluate their reliability before confirming a trade.

One of the main drawbacks of this service is that it only allows you to trade with bitcoin. In fact, you can use a whole list of currencies to pay with bitcoin. But when it comes to buying and selling transactions, you can only sell bitcoins. All sales are charged a 1% commission, while purchases are free. The exchange supports multiple payment methods.

Available currencies		Bitcoin.
Fees and commissions		A 1% commission is applied to all sales, while purchases are free. Depending on the payment method chosen, additional fees may apply.
Cartera		Paxful applet wallet.
Payments		All known payment methods are supported.
Security		Mandatory verification procedure; two-factor authentication.
Mobile Applications		Paxful applet wallet.

HitBTC

This exchange is based in Denmark. It was launched in 2013. The service was created to offer the widest possible selection of cryptocurrencies to individuals. Currently, the exchange offers over 800 exchange pairs. Even the rarest of coins can be found on this platform. This approach is a great way for users to diversify their investment portfolio. HitBTC offers a demo account, which allows each new customer to test the service for free. All customer funds are protected with the most secure technology. The exchange allows you to trade large volumes.

The downside 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 that case, you will have to pay a higher fee.

Available currencies		800 trading pairs.
Fees and commissions		All deposits are free of charge. Withdrawal fees are fixed for each specific currency. Multi-level trading system.
Cartera		There is no cryptocurrency wallet.
Payments		Only cryptocurrencies are accepted.
Security		Two-factor authentication; high-level encryption technology.
Mobile Applications		No.

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