Where to buy cryptocurrencies South Africa 2021
          

Digital goods are on the rise

No one had heard of cryptocurrencies until 2009. But the invention of bitcoin gave an impetus to the creation of thousands of new electronic currencies, making the choice really huge. Logically, this new type of money immediately sparked a great deal of interest in turning cryptocurrency into a powerful trading instrument. And it was mainly driven by its high volatility.

In the early days, you could find very different prices for the same cryptocurrency, including bitcoin. And since these new currencies only existed in the electronic space, they did not have a directly assigned value. This led to drastic price fluctuations for all digital currencies during the first few years of their existence. 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 paved the way for an exchange, where they could be traded freely. The process is quite simple: traders exchanged one good for another with the aim of holding it until its price rose. The popularity of these activities led to the emergence of many new exchanges around the world. And they all work quickly, reacting to every change in the market.

What is a cryptographic exchange?

Before comparing the best stock exchanges in the world, it is essential to understand how they work.

Cryptocurrency 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 currencies and cryptocurrencies in any combination.

In fact, there is nothing special about stock market performance. All you have to do is register on your chosen platform and start trading. These services connect real people who want to trade their digital assets. All you have to do is register the amount you want to sell or buy and start the transaction. You can then hold the funds received until their value increases and continue trading.

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

In order to be able to deposit your account on a cryptocurrency exchange, you will need to have an active virtual wallet. This is a service for storing your cryptocurrency. You will use the wallet's address to send funds to the exchange's account. Check to see if a particular exchange accepts the coins you will be selling. Some exchanges offer their own integrated wallets that are well protected.

After loading your foreign exchange account from the wallet, you can create a buy or sell order in the system. Once the other interested customer sees your offer and is satisfied with the rates and other details, you initiate the transaction. So the purpose of the exchange is to help people make mutually favorable deals. Always check what the exchange requirements are for this type of transaction, as they may differ slightly in different locations.

What influences the value of cryptocurrencies?

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

Before you begin actively trading on reputable cryptocurrency exchanges, be sure to learn more about cryptocurrencies, in particular, 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 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 bitcoins are expected to cease to be in circulation. At least that is the opinion of the major holders of bitcoin.

  • 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 influences demand. It is essential to take into account all the advantages offered by a particular currency, as well as the regulations in place for different currencies. Once you know the level of interest in a particular currency, you can roughly predict to what extent 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 the regulation will restrict 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.

Exhanges Review

Today, many cryptocurrency exchanges can be found and an average user often struggles to choose which one to pick. Sometimes, these services may have similar offerings, but differences remain. Therefore, it is important to know these nuances and understand the differences if you are going to exchange cryptocurrencies.

The most important characteristic is the level of security that this or that 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 that this 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 began operating 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 have joined the platform, you can use one of two accounts: standard and pro. This exchange has high fees for a standard account, while a pro account comes with many benefits. Pro account holders can enjoy 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 to be traded. But it would be fair to mention 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 be sure that you are well protected against hacks. Overall, this cryptocurrency exchange offers a really favorable exchange environment with all the features that an average user might need in the working process. It is especially recommended for newcomers to the cryptocurrency sphere. Familiarize yourself with 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 higher 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; encryption of traffic with SLL protocols; the wallet is encrypted with the AES-256 protocol; only 2% of customer funds are kept online and these are secured.
Mobile Applications For iOS and Android.

Binance

This cryptocurrency platform was founded in 2017. Despite its youth, it has 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 very difficult to find a service with such an impressive selection of cryptoassets. Binance not only works with digital money, it also accepts fiat money, although cryptocurrencies still dominate. It also offers trading of its own token: BNB. Very soon, the exchange reached a very high volume that allowed it to be among the most influential cryptocurrency platforms on the world stage. And a flexible and affordable fee 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 trading accessible to literally everyone. The only drawback that you may encounter here is the somewhat complicated setup. It can be a bit difficult for a beginner to navigate the service. Other than that, it works excellently.

Available currencies                                    740 fiat e cryptographic pairs.
Fees and commissions A flexible and competitive commission system. You pay 0.01% for a transaction and only 0.075% for transactions with the BNB token.
Cartera Mobile Application - Trusted Wallet.
Payments All major methods are supported: bank transfer, bank cards, electronic payments.
Security The exchange has implemented a unique monitoring system: CryptoSafeAlliance (CSA). It combines many services designed to increase the security of the platform.
Mobile Applications A free app for iOS and Android.

Kraken

This exchange entered the market in 2011. The service developed at an impressive speed and within a few years became 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 broader offering, Kraken has other strong features that encourage customers to join it.

Users greatly appreciate this exchange for the many technical possibilities that are vital for successful trading activities: comprehensive charting tools and margin trading. Advanced traders benefit greatly from these features. Beginners may find it difficult at first, but with a little effort they too can master the interface. Once you manage to make your first trades, things will start moving more quickly.

In short, this exchange has everything a trader might need for his daily life. The only flaw to mention 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 deposit and withdraw your funds freely. If you do not find the desired option, you may not want to work with that particular exchange.

Available currencies                                     8 cryptocurrencies.
Fees and commissions For all transactions up to 50,000 of a given token, 0.16% is charged to the seller and 0.26% to the buyer. For amounts above 50,000 of a given currency, the commission is 0.14% and 0.24%, respectively.
Cartera There is no cryptocurrency wallet.
Payments Only direct transactions from crypto wallets or a bank transfer. Bank cards are not accepted on this platform.
Security two-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 Futuros.

Bittrex

This exchange was launched in 2014. It was the time when cryptocurrencies arrived on 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 portfolio for a better result. In addition, the exchange's creators have 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 protective technologies have been implemented 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.
Cartera Online cryptocurrency wallet.
Payments Cryptocurrency wallets, bank cards, and wire transfers.
Security About 80% of all funds are cold stored; two-factor authentication; PI verification via email address as soon as a user logs in via a new PI address; PI whitelisting.
Mobile Applications Bittrex Global and the Bittrex application.

Bitmex

This exchange accepted its first customer in 2014. And it only took several years to attract thousands of traders. It was mainly thanks to their 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 was a powerful method to multiply profits considerably. At the same time, leverage is a complicated mechanism that is always associated with high financial risk. Therefore, margin trading is advised only to traders with sufficient market experience.

Bitmex is a reliable platform. The registration process is more than simple. It is an excellent compromise between ease of use and many additional opportunities. Traders continue to join the exchange with the intention of profiting from margin trading.

Available currencies                                      More than 55 pairs of citations.
Fees and commissions No fees are charged for deposits or withdrawals. For all transactions, users pay 0.075% of the total transaction value.
Cartera BitMex online wallet.
Payments The service only accepts cryptographic wallets.
Security Funds are stored in cold wallets; two-factor authentication; SMS registration; multi-signature wallets.
Mobile Applications Bitmex mobile application.

Bitfinex

This exchange has been in operation since 2012 and is considered one of the first services of its kind. It has managed to grow and remain popular all these years. The winning feature of Bitfinex is margin trading. Many traders could make a steady profit if they took advantage of this opportunity. As I already mentioned, you need to have some experience to use margin in your trading. Otherwise there is a high risk of losing your investments.

Bitfinex doesn't have the widest range of trading instruments on the market. But the platform has been accepting both cryptoassets 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 No commission is charged on deposits or withdrawals. For all dollar transactions, 0.1% is charged, but not less than USD 20. The transaction fee for fiat money is USD 60. For other transactions the facility charges 0.1% for the originator and 0.2% for the borrower.
Cartera Three different portfolios available - Margin, Swap, Funding.
Payments The service accepts cryptocurrency wallets, bank cards, and wire transfers.
Security 99.5% of all funds are held in cold wallets; multiple authentication steps are required to get at this money so that it is securely protected.
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 peer-to-peer (P2P) service, and did not focus much on trading volume. Although the service is global, its customers have a local trading experience.

The platform allows each trader to find a favorable offer and discuss the fees with other participants until an agreement is reached. You can open an escrow account to facilitate the transaction process. The exchange has managed to create a truly reliable environment for trading. This is why it is quite popular, especially among industry insiders. However, it is important to mention 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 traded value.
Cartera 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. Since then, the platform has come a long way. It offers more than 100 cryptocurrency pairs for trading in a highly reliable environment. The service charges very low commissions and offers a number of advantages to its customers. For example, the higher your trading volume, the lower the commission you will be charged.

Poloniex applies separate fees for buyers and creators. This is done to encourage traders to open more positions, as the originators pay really small commissions for doing so. There is a whole list of other benefits for traders registered at Poloniex - among them chat boxes, analytical tools, news 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. The withdrawal fee is fixed for each particular currency. Fees are divided for buyers and manufacturers.
Cartera Online cryptocurrency wallet.
Payments Payment methods differ according to the merchant's country of residence.
Security Two-factor account authentication.
Mobile Applications Available.

KuCoin

It is one of the youngest exchanges registered in Singapore in 2017. Despite its age, the platform was created by very experienced market players. Therefore, the service has everything needed for successful cryptocurrency trading. Thanks to its modern features, it immediately gained popularity and attracted users from almost every country in the world.

One of the winning features is a high-level protection system implemented in the stock exchange. It can be compared to that used by the most reputable banks. High-level encryption and multi-stage authentication are applied here. So far there have been no cases of lawbreaking on this platform. But it is too early to assess the security of this exchange, due to the insufficient existence of the market.

Available currencies                                        200 chips and 450 currency pairs.
Fees and commissions All deposits are free of charge. The withdrawal fee is fixed for each particular currency. A flat fee of 0.10% is charged for all transactions.
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 was to make cryptocurrency trading accessible and easy for all individuals. To achieve this, the founders created a user-friendly website that even a complete beginner will navigate effortlessly. This approach worked well, as the exchange attracted more than a million users within a few years.

In addition to cryptocurrencies, you can also trade other instruments here: silver and gold. The platform offers automated tools that make it easy to trade cryptocurrencies. Once you have enough experience in the industry, you can trade between digital goods and metals. The company has many branches around the world that offer additional opportunities to make money. You can invest in the exchange's own 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 for each particular 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 cryptocurrency trading. It started its operations in 2013, when cryptocurrencies entered the global financial system with a bang. You should not treat the platform as a trading service. Technically, you are buying and selling goods for the exchange itself.

The selection of cryptocurrencies is not that wide on this platform. Once you buy cryptocurrencies through your credit card, be prepared, there is a limit to the amount you can buy. And don't forget to check what commission you will be charged for the amount you wish to redeem. There are enough payment channels accepted on the site. In addition, you can find decent multilingual support, as the exchange is focused on 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 a beginner.

Available currencies                                      More than ten cryptocurrencies.
Fees and commissions A service fee applies for the use of a bank card. Fixed fees for buying and selling cryptocurrencies.
Cartera There is no portfolio available.
Payments Bank transfers, bank cards, electronic systems, SEPA and SWIFT payments.
Security Fiduciary Guard and Comodo protection technologies.
Mobile Applications Available.

Paxful

This exchange began serving merchants in 2015 and was registered in the United States. From its inception, the service targeted a global audience, accepting customers from Europe and the United States. The platform itself is quite basic, with reliable protection and affordable fees. In other words, Paxful can be called a P2P exchange. If you start working here, you will have to create your wallet. You can check other merchants' wallets and evaluate their reliability before confirming a transaction.

One of the main shortcomings of this service is that it only allows you to exchange bitcoin. Actually, you can use a whole list of currencies to pay with bitcoin. But when it comes to a sales transaction, you can only sell bitcoins. A 1% fee is applied to all sales, while purchases are free. The exchange supports a number of payment methods.

Available currencies                                     Bitcoin.
Fees and commissions A 1% fee applies to all sales, while purchases are free. An additional fee may be charged, depending on the payment method chosen.
Cartera Paxful's portfolio request.
Payments All known payment methods are supported.
Security Mandatory verification procedure; two-factor authentication.
Mobile Applications Ordering a paxful wallet.

HitBTC

This exchange is based in Denmark. It was launched in 2013. The service was created with the goal of offering individuals as wide a choice of cryptocurrencies as possible. Currently, the exchange offers more than 800 trading 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 that allows every new customer to test the service for free. All customer funds are protected by the most reliable technologies. 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 currencies and pay with a bank card. But in that case, you will have to pay higher fees.

Available currencies                                      800 trading pairs.
Fees and commissions All deposits are free of charge. The withdrawal commission is fixed for each particular 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 excellent exchanges. Now you have to analyze your needs and select the one that best suits your expectations.

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