1 October 2024
6 Leading Crypto Exchange in South Africa for 2022
The platform's safety, regulatory status, and favorable customer reviews should be your top priorities when selecting the finest Crypto exchange in South Africa for your needs. Additionally, you may investigate other aspects such as trading costs, coin selection, minimum deposits/balances, customer service, technical indicator tools, and so forth. Throughout this article, we will provide a listing as well as analysis of the top South African Cryptocurrency exchanges in 2022.
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Following are the 5 leading Cryptocurrency exchange in South Africa for 2022:
1. CoinSmart
Trading costs on CoinSmart are a modest 0.2%. It accepts 16 different Cryptos, accounts are promptly verified, customer service is top-notch, and the software itself is gorgeous. Since CoinSmart is a Canadian exchange, it is governed by many Canadian financial agencies, ensuring the safety of your funds at all times. Since CoinSmart trades on the NEO stock market, the firm's finances and security are audited by an independent party at least once every year. Sign up for CoinSmart now if you're wanting to trade Cryptocurrencies with a reputable platform that has cheap costs, top-notch support, and a user-friendly mobile application.
Also Read: 5 Best Cryptocurrencies To Invest In The USA
2. eToro
The greatest Cryptocurrency exchange in South Africa, in our opinion, is eToro. Over 26 million people use eToro, making it one of the most popular trading platforms in the world. The fact that the FCA, ASIC, CySEC, FinCEN, as well as FINRA all keep a close eye on eToro is a big part of the platform's allure. Over 70 different Cryptocurrencies, such as some of the most popular altcoins as well as DeFi coins, are available for trading on eToro. The cost structure is straightforward, with users paying 1% plus the bid/ask spread on all Cryptocurrency transactions. Due to eToro's fractional investing model, the platform requires just a minimum investment of $10 (or around 158 ZAR) to open a trading account.
3. Luno
A major Cryptocurrency exchange that launched in 2013, Luno was an early market leader. With a particularly robust presence in Southeast Asian nations such as Indonesia, Malaysia, South Africa, Singapore, and Nigeria, it is sold in 40 countries worldwide. As of the year 2022, it has more than ten million customers. Luno's biggest features are its Cryptocurrency staking platform, Luno Earn, that allows users to stake Bitcoin, Ethereum, and USDC; as well as its educational platform, Luno Explore. The Repeat Buy feature allows you to automatically buy Cryptocurrency from Luno, and the app is available for both Android and iOS.
4. Crypto.com
Among the top Cryptocurrency exchanges in South Africa would be Crypto.com, which stands out due to its cheap fees as well as extensive asset selection. The latter is especially attractive since it allows you to purchase and sell Cryptocurrency at a very low fee rate of 0.40 percent. To our satisfaction, Crypto.com offers reduced commissions to its customers who trade more often and in larger quantities. With support for more than 250 different Cryptocurrencies, trading options are many on the Crypto.com platform. Bitcoin, Ethereum, Dogecoin, Cardano, Shiba Inu, Tether, and numerous others are examples of big capital coins. Metaverse currencies, including those for Decentraland and The Graph, are also available. When you buy Cryptocurrency from Crypto.com, your tokens will be stored in a secure custodial wallet until you decide to withdraw them. The Crypto.com DeFi wallet is available for download as well, allowing you to maintain complete authority of the secret keys. Crypto.com's interest-bearing accounts will be used by many people in South Africa.
5. VALR
In terms of trading volume, VALR is among the top South African Cryptocurrency exchanges. Since its 2019 debut, it has attracted more than 250,000 monthly active users as well as 500 institutional customers. XRP, Bitcoin, and Ethereum are just a few of the 60 Cryptos that VALR is compatible with. The costs for VALR are quite low, beginning at 0.1% for takers and -0.01% for creators. In addition, they feature a rewarding referral-based Rewards & Rebates program, whereby you may earn up to 15% in rebates on all transactions by inviting friends and family to join. When it comes to complying with Anti-Money-Laundering (AML) regulations, VALR has one of the shortest registration processes since they employ artificial intelligence to match a user's face. To ensure the safety of its customers' assets, VALR employs a cold storage strategy in conjunction with Multi-Signature methods.
6. Capital.com
Our next recommendation is Capital.com, one of the top South African Cryptocurrency exchanges. You may bet on the future value of 470+ digital currency pairings without actually holding the underlying token on Capital.com's CFD trading platform, despite the fact that Capital.com is really not officially an exchange. If you're worried about keeping your Crypto assets secure inside a personal wallet, this is a fantastic alternative to consider. The buy and sell commissions for trading Crypto CFDs on Capital.com are also waived. The spreads offered here are among the lowest you'll find for any site. The spread is the difference between the buy and sell price of the currency pair you are trading.
The Bottomline
Considering the variety of alternatives available and the varying services provided, finding the best bitcoin exchange in South Africa may be a challenge. Following years of study, I have compiled the following list of the best Cryptocurrency exchanges in South Africa.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice.