Today we will talk about the latest mania around bitcoins and other cryptocurrencies in South Africa. Society seems to be divided into two halves – 50% are sure that bitcoins and cryptocurrencies are a “bubble”.
The remaining 50% are sure that most people do not understand the moment of transition to the digital era and bitcoins, like other cryptocurrencies, will become a common means of payment in the future. Some analysts predict the cost of 1 bitcoin in the amount of $500,000 in the next 5-10 years.
Where to buy bitcoin in South Africa
In any case, many investors still offer to invest “free” money in Bitcoins. Let’s face it, there was no such hype even in the recent past around Forex.
Speaking about the future of Bitcoin, I would highlight two points:
- Are we living in a period of new economic postulates?
After all, when paper money appeared 100 years ago, there were an overwhelming majority of skeptics who did not believe that paper money would take root.
- How many countries, protecting their national interests, legalize cryptocurrencies.
I think everything will become clear in the near future.
So, here are the following ways to buy Bitcoin in South Africa on various trusted platforms.
Exchanges and services for buying and selling bitcoin in South Africa
EXMO is an exchange with a large number of currency pairs. The exchange is reputable. In my opinion, for more advanced cryptocurrency and trading users.
You will not be able to start buying here until you pass verification, you must send a copy of your passport, as well as enter your physical mailing address.
How to buy bitcoins through EXMO
- Register on the EXMO exchange
- Pass the verification process “Identity Check”
- Top up your account in your currency using a bank card in the “Wallet” section
- Go to the “Trades” section and select the amount of bitcoins you want to buy
- Click the “Buy BTC” button
- After passing the verification, the choice of replenishing the account is truly great!
I recommend this exchange for those who want maximum security in their calculations.
Registration on Exmo.com
Kraken is one of the renowned oldest cryptocurrency exchanges in the global market with over four million active users. Founded in 2011 and based in San Francisco, Kraken was one of the first bitcoin exchanges to display market data on a Bloomberg terminal.
On this marketplace, traders, sellers, buyers, and speculators have the opportunity to exchange cryptocurrencies Bitcoin, Litecoin, Ethereum, and Ripple for national currencies such as EUR, USD, CAD, and JPY.
How to buy bitcoins with Kraken
- Register on the Kraken exchange with your email address, username, and strong password
- Verify your account
- Pass the verification process “Identity check” and provide the necessary documents
- Top up your account in the “Deposit” section or the “Funding” tab
- Go to the “Trades” section, select the required amount of bitcoins and confirm the purchase of BTC
Coinmama is an Israeli cryptocurrency exchange founded in 2013 where you can safely buy or sell cryptocurrency. More than 2,300,000 people use the services of this platform and it is available in more than 180 countries around the world. You can buy Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ethereum Classic, Tezos, Cardano, Ripple, Qtum, and Eos on this exchange using three fiat currencies: Euro, US dollar, and British pound.
This platform will be very easy to use for novice buyers.
How to buy bitcoins with Coinmama
- Register on the Coinmama exchange
- Verify to buy or sell cryptocurrency
- Get a cryptocurrency wallet
- Select the required cryptocurrency and amount
- Enter your wallet address
- Choose a convenient payment method: credit card, debit card, or directly from your bank account
- Verify wallet address and get your coins
Register on the Coinmama.com
OKCoin is a renowned Chinese online platform for buying, selling, and storing cryptocurrencies that offers the ability to trade between USD and cryptocurrencies such as Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and Ethereum Classic. Due to its reliability and high level of security, this platform is used by many traders from more than 180 countries around the world.
The main plus of OKCoin is that the exchange does not charge any fees for withdrawing BTC at all. If you need to exchange cryptocurrencies on your phone or pc, OKCoin is what you need. OKCoin can be downloaded from Google Play, App Store, as a client for macOS, and also for Windows.
How to buy bitcoins with OKCoin
- Register on the OKCoin exchange using your mobile phone or email
- Pass two-level verification
- Top up your account, which usually takes up to 3 days
- Go to the section “Trade”
- Enter the amount and price you need, then click “Buy”
5. Local bitcoins
Localbitcoins Buying Bitcoins. Localbitcoins is a Swedish platform that provides an opportunity to buy bitcoin in different countries of the world.
Registering, buying, and selling bitcoins on the Localbitcoins exchange is free. If you actively trade and create advertisements, then you will be charged a commission of 1%. You can buy bitcoins through different payment methods.
If you have a Universal card, then buying bitcoins will be completely free of additional commissions for you.
Follow the seller ratings carefully! Buy only from verified with high ratings!
Here, by the way, you can view in real life what bitcoins are bought and sold for in several dozen countries around the world.
How to buy bitcoins with Localbitcoins
- Register on the Localbitcoins exchange
- Go to the section “Buy bitcoins”
- Select a seller and click the “Buy” button
- Enter the amount of bitcoins you want to buy and click “Send a request for a deal”
- Top up your account in local currency using a bank card in the “Wallet” section
- Transfer money to the seller, depending on the selected payment method, click the “I paid” button
- Receive bitcoin transfer from the seller
Registration at Localbitcoins.com.
CEX.IO is the place where to buy bitcoin. CEX.IO is a multifunctional cryptocurrency exchange. Has been working since 2013. Having started its work as a cloud mining service. To buy bitcoins, a VISA or Mastercard card is required.
The exchange really cares about the user’s safety. I was pleasantly surprised that in order to refuse two-factor authentication, it was necessary to go through several windows and tick the refuse boxes.
How to buy bitcoins through CEX.io
- Register on the CEX.IO exchange
- Go to the “Cards” section and top up your account using a VISA or Mastercard bank card
- Go to the “Exchange” section and select the amount of bitcoins you want to buy
- Press the “Buy” button
Registration at CEX.io
Poloniex is considered one of the largest American cryptocurrency exchanges in the world, which allows the exchange of up to 80 different cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCC), Litecoin (LTC), Dash (DASH), Ethereum Classic ( ETC), Ripple (XRP), Zcash (ZEC), Monero (XMR), Gnosis (GNO) and 363 pairs.
This platform allows you to make credit investments. By providing loans to other users, you can receive a commission of 15% of the interest earned. The stock market allows you to protect your account with two-factor authentication (2FA) using the Google Authenticator app.
How to buy bitcoins with Poloniex
- Register on the Poloniex exchange
- Pass the verification process “Identity Check”
- Fund your account on the Poloniex exchange
- Select the amount of bitcoins you want to buy
- Press the button “Buy BTC”
Registration at Poloniex
8. Friends and relatives
Yes, yes, you will be surprised, but try to find out from your friends or close or distant relatives whether they are engaged in any way in cryptocurrency, in particular, bitcoins. You will be surprised how many people around you have bitcoins.
Where to buy bitcoin? I deliberately did not write TOP-10 or TOP-20 places where you can buy bitcoin in South Africa, since only these exchanges cause my interest and the safety of users.