Welcome to Crypto Exchanges South Africa. Find the best cryptocurrency exchanges for South Africans, see who has the lowest trading fees, best deposit bonuses and offers the widest range of cryptocurrencies.
Cryptocurrencies have been around for over a decade now and many investors consider Bitcoin to be the original cryptocurrency and it was founded in the year 2009 and ever since then, a new age of blockchain technology and decentralised digital currencies started and to date, there are hunderds of cryptos including Bitcoin (see all Bitcoin Wallets in South Africa), Ethereum, Litecoin, Bitcoin Cash, Ripple, EOD, Lumen, DAI amongst others. The birth of of cryptocurrencies has seen the creation of several Cryptocurrency exchange companies such as Coinbase (which is regarded as the oldest crypto exchange company) and several others.
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- Revix Referral Code - Revix is a an international crypto investment company which is available in several countries around the world including South Africa, the company is very popular as it is a platform which makes investing in crypto safer, faster and easier. Revix is backed by Sabvest, a company which is listed on the JSE. Revix has a […]
What is a Crypto Exchange?
A crypto exchange is a marketplace where you can buy and sell cryptocurrency such as Bitcoin, Ethereum, Ripple amongst others, so if you are looking to buying or selling cryptocurrencies, you will need to use a cryptocurrency exchange. To better understand cryptocurrencies, you can think of the traditional trading platforms that have existed for several years. There are plenty cryptocurrency exchange companies around and when you are looking for the best one to trade with, it is important to look at various things including supported currencies, pricing, withdrawal options, and security. This article seeks to give a brief background of the top crypto exchange companies available at the moment.
Luno is a very popular cryptocurrency exchange and payment service company which has been in existence for 9 years as it was launched in the year 2013, the company is available in over 40 countries around the world including South Africa. One of the reasons why Luno is so popular is because it has a proven track record as it is one of the pioneers in the cryptocurrency industry. According to Luno, the main reason behind its creation was to empower billions of people across the world by upgrading them to a more open, efficient, and inclusive financial system. At the present moment, Luno is offering cryptocurrencies such as Bitcoin and Ethereum and the good thing about their service is that you can easily access it from wherever you may be. With Luno, it is very easy to send, receive and spend your crypto and fiat, since this is a relatively new technology, the company has the Luno Learning Portal and blog and this serves the purpose of providing education for beginner bitcoin trader. It is also very easy to convert your crypto into your local currency at any time and spend it.
Paxful is a a different kind of a cryptocurrency company because is a Peer to Peer Bitcoin marketplace which connects buyers with sellers. Paxful was founded 7 years ago in the year 2015 and it has grown significantly and now has over 4.8 million users around the world. Paxful gives its customers with a simple, fair and secure platform for trading the value of their work. The good thing about Paxful is that it supports several payment methods which customers can use to buy or sell cryptos on the platform. Paxful has to do more by providing more cryptocurrencies on its platform because as of now, there is only a total of three cryptocurrencies namely Bitcoin (BTC), Tether (USDT) and Ethereum (ETH). Paxful has a great platform which is user-friendly and allows users, be it experienced or novice users to easily trade on the platform. Paxful also have an App which is available on Android or IOS so users can trade on the go.
Easy Crypto is a popular crypto company which is originally from New Zealand but it now operates in several countries around the world including South Africa. Easy Crypto offers its users with an opportunity to buy and sell cryptocurrencies. One of the most impressive things about Easy Crypto is the availability of several cryptos on its platform, in fact there is over 109 coins on the platform including Bitcoin, Ethereum, Litecoin and other alternative coins. The name ‘Easy Crypto’ sums up what this company is all about because everything on the platform is simplified such that both beginners and even seasoned users easily trade on the platform, everything on the platform from the sign-up process to the purchasing process is extremely easy and this makes it an ideal platform for new users. Easy Crypto provides educational resources which are really helpful for one to get in depth knowledge about cryptocurrencies. What differentiates Easy Crypto from other crypto companies is that it gives you total control of your funds because the company does not hold your rand or digital currency, as soon as a rand payment is received for your order, your cryptocurrency is immediately sent straight to your own personal wallet.
Coindirect is a 6 year old cryptocurrency exchange company which was launched in the year 2017 in the Isle of Man. The company is still relatively small as it employs about 70 people and has over 321 000 users. The Coindirect platform is useful for both individuals or businesses and the main idea behind its creation is to help customers to achieve borderless and long-term wealth creation by buying and selling cryptocurrency. With Coindirect, you have access to over 40 different cryptocurrencies including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, EOD, Lumen, DAI and several others. The good thing about the company is that it offers several payment options including wallet services for all the cryptocurrency it supports. With these wallets, users can easily send, receive, and store different digital currencies on one secured platform. Fiat currencies supported by Coindirect include ZAR, EUR, NGN, GBP and AUD. Coindirect enables rapid, secure cross border payments with same day settlement options and fiat currency conversion between a wide range of countries.
Coinbase is one of the most seasoned cryptocurrency trading and investment companies as it was launched in the year 2012, the company offers a fair, accessible, efficient, and transparent financial system. At the core of its business is the idea that people should be able to easily and securely send and receive Bitcoin. Coinbase is such a huge establishment as it has has approximately 73 million verified users, 10,000 institutions, and over 185,000 ecosystem partners in over 100 countries. Coinbase allows its users to users can buy, sell, and exchange cryptocurrencies and the good thing is that the Coinbase platform offers over 100 tradable cryptocurrencies like Ethereum, Bitcoin, Dogecoin amongst other popular cryptos.Coinbase runs two different platforms and these are Coinbase and Coinbase Pro, the two have their own unique differences but the similarities lie in the fact that each allows you to buy, sell, and trade cryptocurrencies. Coinbase unlike several other crypto companies is insured and this obviously gives users a sense of security.
Altcointrader is a South African based online cryptocurrency which was founded in the year 2015 and it supports a number of leading digital coins such as Bitcoin and Ethereum amongst other coins. The good thing about Altcointrader is that it offers its users with a a simple way to buy and sell cryptocurrency easily. One of the reasons why this company is so popular in South Africa is the fact that it allows you to deposit and withdraw your funds in ZAR and please note that you can also buy and sell cryptocurrency in ZAR, the reason why it is so is because Altcointrader does not offer convertibility to euro, US dollars, or any other currency outside of the South African Rand. AltCoinTrader supports local bank deposits and Instant EFT (OZOW), and these payment methods are convenient in South Africa. The fees and commissions on the Altcointrader platform varies depending on several factors and one key factor is the payment method you wish to use. Altcointrader has an exciting service which is called Easy Buy which allows you to purchase a cryptocurrency by simply entering the amount you want to invest in ZAR, it’s that simple.
VALR is a relatively new crypto exchange company as it was only launched 3 years ago in the year 2019, despite being in the crypto industry for only a short period of time, VALR has made a remarkable rise and is now regarded as one of the largest crypto exchanges in SA in terms of trading volumes. In just a short period of time, VALR’s cumulative trading volume impressively rose rapidly from R10 billion up to R50 billion. VALR provide a digital asset platform that allows its customers to buy, sell, store and transfer cryptocurrencies seamlessly and securely, the main idea behind the creation of VALR was to help bridge the gap between our traditional fiat financial system and the new world of cryptocurrencies. If you trade on the VALR platform, you will get access to several cryptocurrencies such as Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash amongst others. VALR accomodates almost everyone from the rich to the poor because a trader can buy Bitcoins for as little as 10 ZAR. VALR has an excellent desktop site where traders can easily trade from, the company also has a mobile App which is available for iOS and Android. The company is backed by big companies namely 100/X , BITTREX, Montegray Capital and 4dicapital. Read all about the VALR Referral code.
Revix is a an international crypto investment company which is available in several countries around the world including South Africa, the company is very popular as it is a platform which makes investing in crypto safer, faster and easier. Revix i backed by Sabvest, a company which is listed on the JSE. The minimum investment on the platform is only R500, an amount others argue is a bit too much but the good thing is that there are no monthly fees and you will only be charged a 1% transaction fee for both your buys and sells. Revix is one of the best in that regard because it gives you an opportunity to invest in top cryptocurrencies such as Bitcoin, Ethereum, Gold, Cardano, Uniswap amongst other cryptocurrencies. Revix has a bitcoin rewards programme which allows customers to earn reward points which can then be converted into cash or cryptocurrencies.What happens is that after you have verified your account, you can then earn points, level up and get rewarded with lower fees and Bitcoin, each time you refer a friend, you will earn 150 points and your friend will receive R200 in cash deposited into their Revix account.
OVEX is a South African cryptocurrency exchange which was launched in February of 2019. The service offered by OVEX is impressive because the company offers trading in over 20 cryptocurrencies and one fiat currency. One of the main reasons why OVEX is popular is because of its low fees, tight spreads, and swift settlements and this then makes it easy to profit from cryptocurrency arbitrage. If you are into cryptocurrencies, you will know that cryptocurrencies are cheaper to buy in certain foreign markets than in South African markets due to local exchange controls, OVEX then takes advantage of that because it allows its customers to purchase cryptocurrencies from exchanges in countries such as the US, and immediately sell them at a higher rand price in South Africa. OVEX is backed by crypto investment group Invictus, which ensures it has sufficient liquidity to operate and provide the level and speed of service we promise our clients. The company uses the United States dollar USD, and this is important because the USD is a ‘stable coin’ fully backed by US dollars on a one-for-one basis and this is the reason why OVEX is not prone to the wild price swings of speculative crypto assets like bitcoin.
Deposit methods for all South African Crypto exchanges
Crytocurrency is any form of currency that exists digitally or virtually and uses cryptography to secure transactions. Cryptos have been in existence for over a decade now and now there is over a thousand of them including Bitcoin, Ethereum, Litecoin, Ripple and several other digital currencies. It is important to note that you do not just buy cryptocurrencies everywhere, but there are several cryptocurrency exchanges, and these are platforms which you can use to buy and sell cryptocurrency.
With a cryptocurrency exchange, you can deposit your fiat currency and use those funds to purchase cryptocurrency. In South Africa, there is quite a number of Crypto exchange companies such as Luno, Paxful, Ovex, Revix, Valr, Altcointrader, Coinbase, Coindirect and Easycrypto amongst others, all these are excellent Crypto exchange companies but of course they have their similarities and differences. One of the main things to look at besides the crypto currencies which are offered by the broker is the deposit methods on the platform and this is crucial because you need a company that provides deposit methods which are convenient to you so you don’t struggle when making your payments on the platform. This article seeks to show you the deposit methods offered by each and every crypto currency exchange operating in South Africa.
Luno does not offer a great deal of deposit methods at the moment in South Africa, below are the methods available to you when making a deposit;
Bank transfer (which can take up to 2 business days to reflect)
Instant EFT deposit with PayU.
Please note that you can instantly buy cryptocurrency with Flutterwave, without making a deposit first.
Paxful has a wide range of deposit methods on their platform and they are probably the best in that regard, the deposit methods are categorised as Bank Transfers, Online Wallets, Gift Cards, Cash Payment, Debit/Credit Card, Digital Currencies and Goods and Services. The payment methods which are extremely popular in South Africa are;
Cash Deposit to Bank
With Ovex, you can actually deposit cryptocurrency directly but in addition to depositing cryptocurrency to the platform, you can also deposit fiat currency through wire transfer (not credit or debit card).
With Revix, you are able to fund your Revix account from any South African bank account. Please note that you will be advised of your unique deposit reference and our banking details upon creating a deposit slip. Please click on deposit, select Bank Transfer, and follow the on-screen steps. You will also be able to upload a proof of payment there.
With Valr, you can actually deposit cryptocurrency directly but in addition to depositing cryptocurrency to the platform, you can also deposit fiat currency through wire transfer (not credit or debit card).
AltCoinTrader offers a total of 3 fiat deposit methods on their platform which are;
ZAR – Bank Deposits
OZOW – Instant EFT
Simplex – Credit Card
Please note that you can also make cryptocurrency and Gold and Silver deposits as well.
In South Africa, Easy Crypto accept fiat currency deposits and payments can be made via bank transfers in Rands (ZAR) and also by credit cards.
Minimum deposits for all South Africa crypto exchanges
The crypto exchange industry is booming worldwide and if you are based in South Africa, you also have an opportunity to trade in digital currencies such as Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, EOD, Lumen amongst others, there is need for you to open an account with a crypto exchange company. You will be excited to know that South Africa has quite a huge number of brokers which operates in the country namely Luno, Paxful, Ovex, Revix, Valr, Altcointrader, Coinbase, Coindirect and Easycrypto.
With so many exchanges operating in South Africa, traders are faced with a difficult task of finding the best one to Sign Up with because indeed these companies offer a crypto echange platform but they differ in the manner in which they conduct their business and the products they offer. Crypto exchanges differ in a number of ways including the number of crypto currencies offered, payment methods, payment charges, minimum deposits amongst others and these are the things people look at when deciding which echange to Sign Up with. This article takes a look at the minimum deposits for all South African Crypto exchanges.
Exchange Minimum Deposit
Luno USD10 or the equivalent in ZAR.
EasyCrypto (There are currently no minimum or maximum limits on how much you can deposit into your Easy Crypto wallet)
Coindirect (There are currently no minimum or maximum limits on how much you can deposit into your Coindirect ZAR wallet)
Crypto in South Africa?
The year 2008 saw the emergency of the cryptocurrency, a then new product in the financial sector that would change the way people manage and transfer their money. Although cryptocurrencies have been available for over 15 years now, there majority of the population do not yet know what cryptocurrencies are all about so it is important to provide a proper definition of what cryptocurrencies are. Cryptocurrency is any form of currency that exists digitally or virtually and uses cryptography to secure transactions, what makes cryptocurrencies different is that they are a decentralized and more democratic alternative to government-based money.
Cryptocurrency is very popular in several countries across the globe such as the United States of America, England, Russia, Kenya, Nigeria, South Africa amongst other countries. In South Africa, many people are now aware of cryptocurrencies and statistics shows that as many as 15% of South Africans own some form of cryptocurrency, this is quite staggering because 15% of the South African population translate to millions of South Africans. The popularity of cryptocurrencies in South Africa can be seen by the number of crypto exchanges operating in South Africa because they have seen the potential in this country. Below is a list of some of the crypto exchanges operating in South Africa;
Why is buying crypto and crypto trading so popular in South Africa?
It is an open secret that the crypto industry is booming, according to a report by Chainalysis, the market grew by 1 200% between July 2020 and June 2021 and this translates to a stunning $105.6-billion. Additionally, daily crypto trading in South Africa was reported as being higher than $145-million in January 2021.
One of the main reasons why cryptocurrencies are popular in South Africa is because of the stiffness of traditional banks as there are too many rules and regulations which may be a hindrance, for example, it is quite difficult for a South African to get their hands on a US dollars through traditional banks, but one can easily get their hands on TUSD via a cryptocurrency exchange.
What has helped the boom in the South African cryptocurrency industry is the availability of several coins to bet on. Bitcoin is by far the most popular coin in South Africa but there are several other coins available for traders including Ethereum, Binance Coin, Solana, USD Coin, XRP, Aave, Cardano, Algorand, Aragon and Bitcoin Cash amongst other coins, both popular and unpopular.
The South African Rand (ZAR) is generally on of the stable currencies in Africa but that of course does not mean that it is immune to inflation because there have been instances in the past where the Rand is hit by inflation. It is against this background that cryptos are becoming more and more popular in South Africa because people are looking at cryptos as a safer way of storing their money. It is however important to note that cryptos are not 100% safe and you can also incur loses.
South Africa is a rainbow nation, what this means is that people from all over the world stay in South Africa, these people have families in their respective countries whom they constantly send money to. This is where cryptos have proved to be very useful because it is not a secret that banks are quite expensive if you wish to send money abroad as the fees are generally high, but with crypto, it is quite affordable because P2P crytocurrencies exchanges like Paxful and Coinbase amongst others aim to cut out the middlemen, such as credit card companies or banks, making it cheaper to transfer money from one virtual wallet to another.