This is a well-filtered list of exchanges to buy bitcoin in South Africa.
If you are in South Africa or you intend to migrate there, it might interest you to know that there are so many exchanges where you can trade bitcoin.
But in this post, I have sieved all these exchanges and listed the top 10 best suited for South African residents.
So, by the end of this post, you will get to know the 10 best Exchanges to buy bitcoin in South Africa.
Just tag along and enjoy this post.
Post Summary
This article is written in 3 parts;
lets get started…
10 Best Bitcoin Exchanges in South Africa
You can watch the 8 minute video or scroll down to read
1.Luno
Luno was founded as Bitx in 2013 but rebranded to Luno in January 2017
It is available in 44 countries including South Africa, Nigeria, Europe, e.t.c.
Luno is the most popular exchange to buy bitcoin in South Africa and it is often referred to as the South African Exchange.
Over $4 million worth of bitcoins are traded for the South African Rand each day on Luno.
If you are in South Africa, this Exchange is the best option for you, especially If you are a new to cryptocurrencies as Luno has a very friendly and easy to use interface.
| Exchange Type | Broker & Trading |
| Services | – Trading Platform – Instant Buy and Sell – Wallet |
| Payment Methods | – For South Africa: EFT – Other users: Dependent on your country |
| Supported Fiat | – South African Rand (ZAR) – Nigeria Naira (NGN) – Zambian Kwacha (ZMW) and 3 more |
| Supported Cryptos | BTC, BCH, ETH, LTC, XRP |
| Fees | – Maker’s fee….0.0% – Taker’s fee….0.15% – 0.50% – Card deposit penalty…… ZAR 20.00 + 5.00% – Withdrawal fee…ZAR 8.50 |
| Read Review | Visit Website |
2. Binance
Binance was founded by Changpeng Zhao and launched in 2017. It is a trading platform for over 500 cryptocurrency pairs.
The exchange offers a lot of other services besides crypto trading and can be accessed by users all around the world except for 13 States of the USA.
Binance is the world largest crypto exchange by trade volume. Binance records up to $4 billion worth of trade every (as seen in coinmarketcap)
On Binance, ZAR can be traded over BTC,ETH, BNB, USDT, BUSD.
| Exchange Type | Broker & Trading |
| Services | Over 10 products and services including; – Instant Buy/Sell – P2P (Nigerians alone) – OTC Trading – Trust Wallet |
| Payment Methods | – Bank Transfer – Credit/Debit card – All supported cryptos |
| Supported Fiat | – USD – ZAR – NGN and 51 0thers |
| Supported Crypto | Over 100 cryptocurrencies including; BTC, ETH, XRP, MTL,BNB,LTC,BCH etc |
| Fees | Trading fees – 0.1% |
| Read Review | Official Website |
3. Remitano
Owned by Babylon Solutions Limited, Remitano was launched in April 2016 and supports more than 50 countries.
It started off as a P2P Bitcoin exchange but has expanded over the years to include more services and currencies.
| Exchange | P2P |
| Services | – P2P Exchange – Remitano Invest – Remitano Swap – Wallets – Affiliate program |
| Payment Methods | Dependent on the country. ZAR(for South Africa) |
| Supported Crypto | Supports 6 cryptocurrencies for P2P services, – Bitcoin – Tether – Litecoin – Ripple – Ethereum Supports 10 cryptos for investment; EOS, BNB, ADA, XLM, TRX, XTZ (+4 others) |
| Fees | P2P Fees; – Makers – 1% – Takers – 0% Investment fees investment fees; – When you close an investment in profit – 1% – When you close at a loss – 0% |
| Review | Visit Site |
4. CEX.IO
CEX.IO was founded by Oleksandr Lutskevych, Dmytro Kalynovskyi, Victoria Polyakova, and Peter Ivanov in London.
It was established in 2013 first as a cloud mining provider but has now become a multi-functional cryptocurrency exchange, trusted by over 3 million users.
The platform allows its users to trade the most popular crypto-to-crypto and fiat-to-crypto pairs.
| Exchange Type | Broker & Trading |
| Services | – Instant Buy – Broker – Exchange – Staking |
| Payment Methods | – Visa/Master Cards – Bank transfers – Wire Transfer |
| Supported Fiat | USD, AUD, EUR, RUB |
| Supported Crypto | Supports over 15 cryptocurrencies including; BTC, XRP, LTC, BCH, ETH, TRX, GAS, XTZ etc. |
| Fees | Deposit/ Withdrawal fee…… 1% – 4% – Maker’s fee…… 0.0% – 0.16% -Takers’s fee……. 0.10% – 0.25% |
| Read Review | Official Website |
5.Coindirect
Coindirect is an exchange co-founded by Attila Bernariusz, and launched on Oct 25, 2017.
This exchange combines brokerage and p2p services and trading services.
It supports users from 24 countries including South Africa, Nigeria, Kenya, e.t.c.
Coindirect has a very good user interface that makes it very easy for users to trade a large amount of bitcoin using its broker (OTC) service.
| Exchange Type | Broker|P2P |
| Services | – Buy and Sell Cryptocurrency – Wallet Services – Convert/Swap |
| Payment Methods | 9 payment methods available including; Paypal, Bank transfer etc |
| Supported Fiat | – Nigerian Naira (NGN) – South African Rand (ZAR) – Euro (EUR) |
| Supported Crypto | Supports over 35 cryptocurrencies including, BTC, ETH, LTC, EOS, DAI etc. |
| Fees | 0.50%——–2.99% |
| Read Review | Visit Website |
6.Yellow Card
Yellow Card is a Binance Supported exchange that was founded by Chris Maurice in 2016.
On this exchange, you can buy, sell, store and receive crypto payment which can be transferred directly to your local bank account.
Also, you can make money for yourself from this exchange when you sign up as a merchant.
As a merchant, you can buy and sell bitcoins to your clients using the yellow card app as well as receive payment for goods and services in bitcoins.
Yellow Card is also strongly present in Nigeria Botswana and Zimbabwe.
| Exchange Type | Broker |
| Services | – Buy and Sell Bitcoin – Wallet Services – Become A merchant |
| Payment Methods | – Yellow Card Pin – Cash – Bank Deposit |
| Supported Fiat | – Nigerian Naira (NGN) – South African Rand (ZAR) – Botswana Pula (BWP) |
| Supported Crypto | Bitcoin |
| Fees | -Deposit fee R4.50 + 1.02%—-R8 + 3.2% -Withdrawal fee -R15——R60 |
| Review coming soon | Official Website |
7.Paxful
Paxful is a bitcoin P2P exchange that lets you bitcoin and sell bitcoins using over 300 payment method.
It was founded in 2015 by Ray Youssef and Arthur Schaback and headquartered in the USA.
The exchange serves users from around the globe.
If you wish to buy bitcoin with e-currencies (Neteller, Paypal, Perfect money) or Gift Cards (Amazon, iTunes, Google, etc) then I will encourage you to use this exchange.
| Exchange Type | P2P |
| Services | – P2P Exchange – Wallet and others |
| Payment Methods | Over 300 payment methods including; Giftcards, Bank transfer, Debit/Credit Card etc. |
| Supported Fiat | Any fiat currency |
| Supported Crypto | Bitcoin |
| Fees | – Sell Bitcoin……..0.5%——3% – Buy Bitcoin……..0% |
| Read Review | Official Website |
8.LocalBitcoins
LocalBitcoins was founded in 2012 and has its headquarter in Finland.
It was the first P2P exchange and has Sebastian Sonntag as its CEO.
The company serves users from more than 240 countries including South Africa.
| Exchange Type | P2P (OTC) |
| Services | Buy/Sell Bitcoin |
| Payment Methods | Up-to 30 payment methods |
| Supported Fiat | Supports over 150 fiat currencies including; ZAR, AUD, CAD, ILS, ISK etc |
| Supported Crypto | Bitcoin |
| Fees | 0.5%-1% |
| Read Review | Official Website |
9.Changelly
Changelly is a non-custodial exchange that was launched in 2015 by Minergate (a crypto mining pool).
It has a bot that links to exchanges like Binance, Bittrex, HitBTC, etc. to aid its users but bitcoins at the best price in the global market at that instance.
Changelly offers a very seamless transaction and charges a very low fee for its services.
It is a very good option for you if you would like to get the best available rate of any crypto in the market and still keep your identity anonymous.
| Exchange Type | Trading |
| Services | – Swap Crypto – Buy Crypto – Sell Crypto |
| Payment Methods | – Credit/Debit Card – Wallet |
| Supported Fiat | – USD – EUR – GBP |
| Supported Crypto | Over 100 cryptocurrencies including; BTC, ETH, XRP, ADA, BCH, ATOM etc. |
| Fees | 0.5% |
| Read Review | Official Website |
10.Coinmama
Coinmama is one of the top crypto exchanges offering bitcoin brokerage service.
It was founded in 2013 and has supports for over 150 countries. As at the time of this post, Coinmama has over 2million active users.
This is a superb place to buy your crypto especially if you are a newbie.
| Exchange Type | Broker |
| Services | Instant Buy/Sell |
| Payment Methods | – Debit/Credit Card – Bank Transfer via SEPA|SWIFT |
| Supported Fiat | USD, EUR, GBP, AUD, CAD, JPY |
| Supported Crypto | Supports 10 cryptocurrencies including; BTC, ETH, LTC, BCH, EOS, QTUM, ADA etc. |
| Fees | Buy fee – 5.90% Credit/ Debit Card fee – 5% Sell fee – 2.1%——–2.9% |
| Review coming soon | Official Website |
11.Bitstamp
Bitstamp is an easy to use and a reputable exchange founded in 2011 by Damijan Merlak and Nejc Kodric.
Bitstamp is one of the oldest exchanges with a solid reputation.
It is ranked No. 6 on Coinmarketcap as one of the top exchanges.
| Exchange Type | Trading |
| Services | – Institution & Partners – Pro Trading |
| Payment Methods | – SEPA – Credit Card – Wire Transfer |
| Supported Fiat | USD, EUR |
| Supported Crypto | BCH, ETH, XRP, LTC, |
| Fees | 0.0% – 0.50% |
| Review | Official Website |
12.eToro
eToro was founded in 2007 by two brothers, Ronen and Yoni Assia and partner David Ring.
The company started off as a general trading platform but has in 2017 added cryptocurrency to its muti-services.
eToro has grown significantly since its founding and currently has over 7 million users worldwide.
This platform is certainly the best exchange for you if you are interested in CFD trading.
| Exchange Type | Trading |
| Services | – Trading – Copy People – CFD Trading – Invest in Copyportfolios |
| Payment Methods | – Credit/ Debit Card – Skrill – Wire Transfer – Neteller – Unionpay |
| Supported Fiat | USD, AUD, EUR, GBP |
| Supported Crypto | Supports over 10 cryptocurrencies including; BTC, ETH, XRP, BCH, DASH etc |
| Fees | 0.75 – 2.90 |
| Review | Official Website |
Which is the Best exchange to buy bitcoin in South Africa?
As I have given you the complete list of the 10 best exchanges to buy and sell bitcoin in South Africa. The next question you will have to ask yourself is this;
Which of these exchanges should I use?
Well, I got you covered on this.
Here are the 6 things I consider before buying bitcoins
- Motive – Am I buying to trade, store or shop?
- The supported Cryptocurrencies – does the exchange have the coin I want to buy?
- Payment Method – Is the available payment method convenient for me?
- Fees – How does the fee compare with other exchanges?
- Security and the Volume you would like to trade.
All the exchanges above are highly reputable, your choice will strongly be determined by your answer to these questions.
For me;
Luno gives the best experience to swiftly buy and sell bitcoins especially if you are new to bitcoins while Binance is an exchange to trade multiple cryptocurrencies efficiently.
Yellow Card gives you the opportunity to become a bitcoin merchant in your physical location as well as receive it for payment for goods and services
Same way, If you want to trade a large volume of bitcoin at a good and stable rate or buy bitcoin with e-currencies;
You should then, visit Coindirect, Localbitcoin or Paxful as they offer the very best services for this.
Moreso, let’s say you want to trade bitcoin CFD, you will need to visit eToro.
etc…. I hope you understand my point
…if so, let’s wrap this up
Conclusion
This brings us to the end of the post
but before you go, I would appreciate a feedback from you
So, tell me
which of the exchanges will you sign up with?
Are there other solid exchanges in South Africa that you think I have missed out?
Let me know right away in the comment section.
Don’t forget to share this post…
Cheers!!!
P.S
If you want to learn how to trade cryptocurrencies profitably. We developed a perfect course to help you master Cryptocurrency Trading.
Go to www.ctmastery.com to enrol.
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