Crypto Exchanges South Africa

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Crypto Exchanges South Africa
Cryptocurrency exchanges are the most important companies for anyone who is interested in cryptocurrencies in South Africa. Crypto exchanges are online platforms on which cryptocurrencies are bought and sold. Some of these trading platforms serve as an interface between the traditional currency systems such as the ZAR or US dollar, while others work completely without the so-called fiat money of the traditional currencies. In this article we discuss the best crypto exchange South Africa and what you need to look out for. With our crypto exchange comparison, we help you to find the right exchange for your needs.

Best Crypto Exchanges South Africa

7+ crypto pairs
Deposit: R1500
Regulations: FCA, CySEC
4.9 rating
4.9
T&Cs Apply
Risk Warning

Trading is risky. Your capital is at risk.
5+ crypto pairs
Deposit: R500
Regulations: FCA, CySEC, ASIC
4.8 rating
4.8
T&Cs Apply
Risk Warning

Trading is risky. Your capital is at risk.
25+ crypto pairs
Deposit: R100
Regulations: FCA, VFSC, IBFC
4.7 rating
4.7
T&Cs Apply
Risk Warning

Trading is risky. Your capital is at risk.

14+ crypto pairs
Deposit: R1500
Regulations: FSCA, ASIC, JFSA
4.6 rating
4.6
T&Cs Apply
New Zealand Customers Only

Trading is risky. Your capital is at risk.

Available Crypto Exchanges in South Africa

Not all crypto exchanges are the same, there are differences between trading platforms depending on which customers they target:

  • Fiat crypto exchanges: On these exchanges, you can trade cryptocurrencies against traditional fiat currencies such as ZAR or US dollars.
  • Crypto-crypto exchanges: You can only trade cryptocurrencies against each other on these exchanges, mostly the world’s most established cryptocurrencies such as Bitcoin and Ethereum take on the role of reference currencies. For example, you can use these currencies to buy other cryptocurrencies. If you want to trade on a crypto crypto marketplace on a large scale, then you usually have to  get the necessary units on a fiat crypto exchange beforehand.
  • Regionally Restricted Exchanges: Cryptocurrency legislation differs from country to country and not every exchange is licensed in every country. This doesn’t necessarily mean that you can’t reach these exchanges, but if you use the exchange you have no legal protection whatsoever.

South African Cryptocurrency Exchange

Important Thing to Consider on a Cypto Exchange

Regardless of whether you want to buy cryptocurrencies with Rands or trade different cryptocurrencies against each other, there are a few important things you should always pay attention to when choosing a crypto exchange:

  • Security: The security of your money, no matter what form, should always come first. With the digital crypto trading places, it is not easy for beginners and even more experienced users to form their own opinion: The market is very young and there are still no extensive reports for many marketplaces. It is therefore worthwhile to follow the recommendations of experts such as CryptocurrencyBlog.co.za when choosing a crypto exchange.
  • Deposit and withdrawal Options: Only if the stock exchange accepts fiat currencies can you make purchases with euros at all. The exchanges that accept traditional money raise the question of the payment methods offered.
  • Trading offers: Altcoins Bitcoin and Ethereum are the “key currencies” among the cryptocurrencies. You can trade them on all major stock exchanges in South Africa. The situation is different with the remaining cryptocurrencies. Some exchanges only have very few in their portfolio, others are very broad with hundreds or more different currencies.
  • Trading fees: Crypto exchanges thrive on charging for their services. Of course, the more you want to trade, the more important the amount of the fees incurred becomes for you. But that’s not all, transparency is also important. Some exchanges clearly communicate their fees, others include them directly in the crypto prices, so that you as a trader cannot directly see how much you are paying the exchange.

South African Crypto Exchanges Reviewed

CryptocurrencyBlog.co.za presents the best crypto exchange south africa that you should know if you want to start trading cryptocurrencies:

Kraken

Kraken is one of the largest crypto exchange in the world with an excellent reputation. It was the first exchange to be listed on Bloomberg and today Kraken is a business partner of traditional banks throughout Europe.

Features

Accessible for South Africans? And
Customer support And
verification verification – Verification with official proof of identity is required for larger trading volumes
Payments in Rands? And
Available Payment Methods Cryptocurrencies

Trading on the stock exchange

 
Available Currencies? BTC, BCH, ETH, ETC, XMR, Sash, LTC, XRP, XLM
minimum deposit 0 ZAR
Maximum purchase amount per day None
Maximum purchase amount per month None
processing time Fast

Pros
And Good selection of cryptocurrencies
And Supports British pounds and Japanese yen in addition to euros and US dollars
And High security
And Transparent fees

Cons

no Complicated verification for higher tier accounts
no Not beginner friendly

Binance

Features
Accessible for South Africans? Yes
verification Yes – Verification with official proof of identity is required for larger trading volumes.
Payments in Rands? no – Binance generally does not accept FIAT currencies
Available Payment Methods Cryptocurrencies
Trading on the stock exchange
Available Currencies? BTC, ETH, XRP, USDT, XVG, TRX, NEO, NEB, NEBL and 80+ more
purchase fees None
Selling Fees Depending on the respective cryptocurrency
minimum deposit $50 (750 ZAR)
Maximum purchase amount per day None
Maximum purchase amount per month None
processing time Very fast
Pros
Yes More than 80 cryptocurrencies
Yes Extremely low fees
Yes Detailed information for advanced traders
Yes Bonus programs

Cons
no Not beginner
no friendly Legal uncertainty due to Chinese legislation
no Delays in trading some cryptocurrencies

eToro

eToro is not just a crypto exchange, it is an online veritable social trading platform. With eToro you can not only trade, you can also see how other traders proceed and make use of their experience. eToro echange offers you the opportunity to copy the behavior of experienced traders using their social trading platform.

Features

Accessible for South Africans? Yes
verification Yes – Verification with official proof of identity
Payments in Rands? Partial (for BTC and ETH)
Available Payment Methods Credit and debit cards, PayPal, Skrill, Neteller and Yandex Money

Trading on the stock exchange

 
Available Currencies? BTC, BCH, ETC, LTC, ETH, DASH, XRP, ADA, XLM, MIOTA, EOS, NEO, ZEC, TRX, BNB and 50+ more
Purchase Fees* Variable, including dollar conversion fees
Minimum trade $10 (R 150)
minimum deposit $500 via Bank Transfer and $50 via credit/debit card
Maximum purchase amount per day no
Maximum purchase amount per month no
processing time Long (2 to 5 business days)

*Credit card fees may apply

Pros
Yes  Social Trading platform
Yes Wide range of offerings in addition to cryptocurrencies
Yes ability to copy successful traders
Yes Beginner friendly platform

Yes Accepts e-wallets like PayPal and others

Cons
no  No cryptocurrency deposit
no High trading fees
no $10 inactivity fee on accounts with 4 months no deposits)