Is becoming easier every day to buy bitcoin in SA since there are several bitcoin exchanges in South Africa. The number of bitcoin exchange has increase in the last few year since AltcoinTrader became the first.
If you are still wondering what is bitcoin then you can find out here.
Whats more interesting is the exchange rate of bitcoin in various exchanges. There are some reliable cryptocurrency exchange with higher rates. On of the benefits of using SA based bitcoin exchange is that you can see the bitcoin price in South African Rand.
Another thing is the option of being able to deposit and withdraw funds from your local bank account. The exchanges covered on this post makes it easy to fund your account and buy bitcoin.
It should take you a few minutes to a few hours to do all of that in a reasonable bitcoin exchange.
Bitcoin Exchanges In South Africa:
Coindirect has become one of the trusted bitcoin exchanges in South Africa and other parts of Africa.
This is a peer to peer bitcoin exchange that allows you to buy bitcoin and other currencies from bitcoin sellers. You can also trade cryptocurrencies in CoinDirect.
This exchange was launched in 2017, and it now operates in over 24 countries including South Africa, Nigeria, Namibia and Kenya. The Coindirect exchange keeps expanding to other countries, a new country is added every month.
Coindirect does not charge any fees when you buy bitcoins, they only charge you 1% when you sell bitcoins. There are no hidden fees on this platform, it has one of the best fees in the industry.
As a user you are required to verify your identity especially if you want to be a seller. To verify your identity you need to upload you ID copy, Passport and Selfie holding your ID. The buyer and the sellers are given up to 5 star ratings this helps identify best sellers.
The Coindirect exchange will help you buy bitcoin with ZAR. You can fund your account with some of the major banks like FNB, Standard Bank or NedBank.
Luno is one of the best bitcoin exchanges in South Africa with offices in Cape Town. They also operate in other countries such as UK, Nigeria, Kenya, Singapore and Thailand.
You can do several things on Luno, you buy, sell, trade and store bitcoins. This bitcoin exchange is one of the best in SA due to their transaction fees, support and ease of use. The user interface is easy to navigate because everything is highlighted.
Luno does not charge you anything when you deposit funds in to your account via EFT. They only charge you R20 + 5% when you do Cash Deposit.
When you are sending or receiving money is also free on their side. The only fee you transaction incur is the blockchain transaction fee which is usually small.
The only fee that applies is the Withdrawal Fee of R8.50, which is pretty small compared to most exchanges. You can fund your account using some of the SA’s top banks via EFT including FNB, Standard Bank and NedBank. You can buy bitcoin in South Africa using any of this banks on Luno.
If you want to get started and Buy bitcoins or trade on Luno you can open a free wallet.
It is recommended that you verify your identity before buying bitcoins. To verify your identity you will have to upload your scanned ID copy or Passport.
You can upload any of this documents to verify your account:
- Utility bill
- Bank statement with physical address
- Municipal rates and taxes invoice
- Lease or rental agreement
- Mortgage statement
- Telephone or cellular account
- Recent insurance policy document
The document must not be older than 3 months and should clearly show your address.
If you are wondering how to buy bitcoin in South Africa with Luno click here for a step by step guide
Livecoin is a cryptocurrency trading platform were you can day trade different cryptocurrencies. The Livecoin trading platform can help you trade from the less known altcoins to the well known altcoins.
You will have to buy bitcoins first before you can start trading. You can fund your Livecoin account using bitcoin.