Looking for the best crypto exchanges in south Africa? This article is right for you. Residents of South Africa can purchase Bitcoin and other cryptocurrencies on a variety of exchanges.
With so many alternatives, it can be challenging for newcomers to pick an exchange that fits their needs. For your convenience, we’ve analyzed a number of exchanges and provided a list of the top-rated and most reliable ones in South Africa.
Key Takeaways
- Get to know about the best crypto exchanges in South Africa, their different features, and their cost.
- What To Look for In a Crypto Exchange
7 Best Crypto Exchanges In South Africa
Below is the list of the top best crypto exchanges in South Africa, and they include the following:
#1. Quidax
Quidax is one of Africa’s leading crypto exchanges and a pioneer in the continent’s crypto business. It is the first and only African crypto exchange to be listed in CoinMarketCap, the largest and most trusted source of cryptocurrency news, and is frequently quoted by prominent players such as CNBC and Bloomberg.
Quidax supports 20 cryptocurrencies and dozens of cryptocurrency pairs, and its popular mobile app is accessible for both Android (4.1/5 rating) and iOS (4.5/5 rating).
It operates on a maker/taker fee basis, with makers paying a flat 0.1% and takers paying 0.3%. Trades are typically completed in less than 10 minutes, and the enrollment process is fast for consumers in Africa.
Features
- Supports over20+ cryptocurrencies
- Available on Android and iOS
- Quick sign-up process for African users
- Access to a flexible staking platform
- Trades completed in less than 10 minutes
Cost
- Maker’s Fees: 0.1%
- Taker’s Fees: 0.3%
- Instant Buy: 1%
- Deposit Fees (Crypto): Free
- Withdrawal Fees (Crypto): Depends on the cryptocurrency (0.0002 BTC for Bitcoin)
- Deposit Fees (Naira): From 100 NGN to 2,250 NGN (based on deposit size)
- Withdrawal Fee (Naira): From 200 NGN to 5,000 NGN
#2. VALR
By volume, VALR is one of South Africa’s largest cryptocurrency exchanges. It launched in 2019 and has since then accumulated over 250,000 monthly users as well as 500 institutional clients. VALR is compatible with 60 different cryptocurrencies, including XRP, Bitcoin, and Ethereum.
VALR charges relatively low fees, beginning at 0.1% for takers and -0.01% for makers; this means you are compensated for enhancing market liquidity.
They also feature an appealing Rewards & Rebates program that works with referrals; by inviting friends or family to join, you boost your referral level and can receive up to 15% in rebates on all trades.
Features
- Supports 60 coins
- Instant account verification
- 95% cold storage policy
- Two-Factor authentication (2FA)
- Multi-Signature security methods
- Rewards & Rebates program
Cost
- Trading Fees: From 0.85% – 0.75%
- Maker’s Fees: -0.01% (you get paid for increasing liquidity)
- Taker’s Fees: 0.1%
- Deposit Fees (ZAR): Free
- Deposit Fees (Crypto): Free
- VALR Pay Transactions: Free
- Withdrawal Fees (ZAR): R8.5
- Withdrawal Fees Instant (ZAR): R60.0
- Withdrawal Fees (Crypto): Depends on the cryptocurrency (0.002BTC for Bitcoin
#3. Kraken
Kraken is a popular and one of the best exchanges in south Africa with cutting-edge security features and industry-leading security protocols. It is recommended for intermediate and professional traders looking for cheap trading fees. Kraken provides margin and futures trading services.
Its app is compatible with both iOS and Android devices. It has superb learning tools, a large trading volume, and speedy buy options. Kraken offers management services to high-net-worth individuals.
Features
- a Safe and regulated platform
- Buy, trade and sell over 200+ cryptocurrencies
- High liquidity and low trading fees
- Trade cryptocurrency and forex such as EUR/USD
- Earn passive rewards by staking cryptos
- US investors are allowed
- Margin and Futures trading is available
- Powerful charting by TradingView
- iOS and Android mobile app
Cost
Trading fee: From 0.16% / 0.26%
Withdrawal fees: None (network fees only)
#4. Plus500
Plus500 is an Israeli-based leveraged trading platform. With millions of active traders globally, it is one of the largest investing platforms in terms of volume. Plus500 supports over 20 crypto assets, including Bitcoin and Ethereum, as well as intriguing altcoins like Polygon, Solana, and Cardano.
Plus500 Markets collects cryptocurrency values from tens of data sources to provide extremely competitive prices. In addition, they provide up to 2x leverage on all cryptocurrency investments. To reduce the danger of losing funds, investors can also set up price alerts and two types of stop orders: Stop Loss and Trailing Stop.
Plus500 does not impose trading costs; in fact, the only fees they charge are Overnight Funding, which applies when a position is held after a specific time, and Currency Conversion fees, which apply if you trade in a currency denomination other than the one associated with your account.
Plus500 customers can also trade most financial instruments, such as stocks, ETFs, CFDs, and even forex. Their mobile app is accessible on Android (4.3/5 rating) and iOS (4.3/5 rating), and they have great Trustpilot evaluations, averaging 4.2/5.
Features
- Supports over 20+ cryptocurrency pairs
- Access to global markets for shares, ETFs, stocks, CFDs, FX, and crypto
- Demo account
- Supports 2x leverage for cryptocurrency assets
Cost
- Trading Fees: Free
- Overnight Funding: This Depends on the asset (from 0.02% to 0.05% for BTC)
- Spread: Depends on the asset (0.3% for BTC)
#5. AltCoinTrader
AltCoinTrader, headquartered in Johannesburg, is one of the country’s oldest and largest cryptocurrency exchanges. It was founded in 2015 as a crypto exchange for only three currencies: Bitcoin, Litecoin, and Namecoin. Since then, it has grown to support over 25 of the most popular cryptocurrencies.
Easy Buy and Easy Save are the two primary features of AltCoinTrader. Easy Save is a crypto staking platform; there are no lock-in periods or limits; simply deposit your coin and begin earning rewards; you may withdraw at any time, and the APY of the supported crypto ranges from 2.40% to 8.44%.
Easy Purchasing is primarily aimed at experienced investors; it offers an instant buy option for a nominal price. Investors can take advantage of this to maximize the value of each trade. To secure assets, AltCoinTrader employs SSL encryption and a cold storage strategy.
Features
- This exchange Supports 32 cryptocurrencies
- 95% Cold Storage Policy
- Data encrypted with SSL protocol
- Easy Buy, instant buy option
- Easy Save, staking platform
- Regular Airdrops and Giveaways
Cost
- Withdrawal Fee (Crypto): Depends on the crypto (0.0000052 BTC for Bitcoin)
- Deposit Fees (Fiat): 0.5%
- Withdrawal Fee (Fiat): R16 + 0.5% (Max. R95.0)
- Spreads: 0.22%
- Trading Fees: 0.1%
- Easy Buy & Sell Fees: 0.75%
- Deposit Fees (Crypto): Free
#6. CoinSmart
CoinSmart charges only 0.2% in trading fees. It supports 16 cryptocurrencies, promptly verifies accounts, takes pride in its professional customer care representatives, and offers a gorgeous, well-rated interface.
CoinSmart is regulated by multiple Canadian financial agencies as a Canadian exchange, which protects your money safe and secure. CoinSmart is also a publicly traded business on Toronto’s NEO stock exchange, which means it is subject to annual third-party financial and security audits.
Features
- Extremely low trading fees (as low as 0.20% for each trade)
- 24-hour customer service by phone, live chat, or email
- Instant account verification
- Accepts 16 cryptocurrencies
- Instant deposits and withdrawals
- Simple to use for both newbies and experienced traders
- A 95% cold storage policy keeps your cryptocurrency extra safe.
Cost
- Account Opening: Free
- Trading Fees: 0.20%
#7. Luno
Luno is a big cryptocurrency exchange that was founded in 2013. It is offered in 40 countries and has a large presence in Southeast Asia, particularly in Indonesia, Malaysia, South Africa, Singapore, and Nigeria. It will have over 10 million active users by 2022.
Luno’s best features include a crypto staking platform called Luno Earn, which supports staking for Bitcoin, Ethereum, and USDC, as well as Luno Explore, which has a wealth of learning resources.
Luno also features easy-to-use software for Android and iOS, as well as a Repeat Buy option for purchasing cryptocurrency automatically.
Luno supports a total of eight cryptocurrencies, and the APY for its Luno Earn staking platform can reach 7.6%, paid monthly. Luno protects assets with a strict Cold Storage policy and multi-Signature methods.
Features
- Supports 8 coins
- Luno Savings, crypto staking platform
- 95% cold storage policy
- Multi-Signature protocol security
- Luno Explore, learning tools for novices
- Set up price alerts and market notifications.
- Available on Android and iOS
- Repeat Buy, automatic recurring purchases
Cost
- Deposit Fees (Transfer Bank Instant): Free
- Withdrawal Fee (Crypto): Depends on the crypto (0.004 BTC for Bitcoin)
- Withdrawal Fee (Fiat): Rp 15,000
- Trading Fees: 1.10%
- Maker’s Fees: Free
- Taker’s Fees: 0.41%
- Buy Fees Instant Sell/Buy:1.10%
- Transfers within Luno Ecosystem: Free
- Deposit Fees (Crypto): Free
What To Look for In a Crypto Exchange
Here are just a few of the more prominent ones, and they include the following:
Deposit and withdrawal methods:
The exchange you choose should have a number of payment methods (bank transfers, debit/credit cards, PayPal, and so on) to allow you to conveniently transfer funds in and out of your account. The more alternatives you have, the better.
Protection:
Look for a trading platform that rigidly enforces many layers of security, such as two-factor authentication and at least 95% cold storage. Additional security features, including daily offsite backups, third-party security audits, and transaction email confirmations, increase the security of your account.
Coins supported:
The best crypto exchanges support at least 20 or 30 coins, including all main coins such as Bitcoin, Ethereum, and Dogecoin. Platforms that regularly launch new coins are more customer-focused in general, making this a strong indicator of a forward-thinking exchange.
User interface:
It is important for beginners to select a platform with an easy-to-use trading interface. If you’re a seasoned crypto investor, you should also seek exchanges that include more advanced features, such as advanced order types and transaction exporters, for tax purposes.
Customer support:
The greatest cryptocurrency exchanges take pride in having well-trained, responsive support teams that can assist users with any problems that arise.
I pay close attention to the channels via which each exchange provides support, response times, the depth and usefulness of their responses, and user feedback on the customer service they’ve received.
Fees:
All cryptocurrency exchanges charge fees (in the form of trading commissions and bid-ask spreads), and they vary greatly. I’ve intentionally chosen low-cost platforms to assist you in maximizing your profits.
Regulation:
Trading on a well-regulated exchange is far safer than trading on an uncontrolled one, especially when markets are not moving in your favour. Some exchanges also provide depositors’ insurance, which protects your assets even if the platform itself experiences liquidity concerns.
Customer support:
The best crypto exchanges pride themselves on having well-trained, responsive support teams who can help users through any problems that come up.
I pay particular attention to the channels each exchange offers support through, response times, the thoroughness and helpfulness of their responses, and user feedback on the customer support they’ve received.
Read also:
Top 10 Chinese Crypto Exchanges in 2022
How to Exchange USDT to BTC – An Easy Step by Step Guide
Is Huobi Global Safe? Huobi Exchange Review, Pros, and Cons
Conclusion
The Bitcoin and cryptocurrency platforms listed above have been verified to be safe and are used by millions of users worldwide to buy, trade, and sell cryptocurrency.
If you intend to buy and trade cryptocurrencies, place your winnings in a trusted Bitcoin wallet for safekeeping. It is the most effective way to safeguard your investment.
FAQS
What is the best altcoin exchange in South Africa?
CoinSmart or Plus500 are the best altcoin exchanges in South Africa. Both support a large range of cryptocurrencies and are constantly adding new altcoins that South African investors are seeking.
What is the safest crypto exchange?
Coinbase: The Most Secure High-Volume Exchange
Almost 99% of the exchange’s users’ digital assets are kept offline in cold storage.
Is Binance better than Coinbase?
While Coinbase is designed for convenient, straightforward trading, Binance is a better fit for consumers who are familiar with bitcoin terminology and investment opportunities. Both exchanges offer mobile applications with various features.
Which crypto site has the lowest fees?
Best Crypto Exchanges with Low Fees:
- Pionex.
- Bitstamp.
- NAGA.
- CoinSmart.
- Crypto.com.
- Binance.
- Bybit.
What is the best cryptocurrency exchange for day trading in South Africa?
CoinSmart is the finest crypto exchange for day trading in South Africa because it features cheap trading costs, tight spreads, and prices that update many times per second, providing day traders with an advantage over the rest of the market.
Which crypto wallet has the lowest fees?
Lykke Wallet is one of the most cost-effective cryptocurrency exchanges. Lykke Wallet allows you to exchange cryptocurrencies at no cost. Lykke Wallet has no trading fees for any asset, including Bitcoin, Ethereum, other cryptocurrencies, and fiat currencies.
You can learn more from the video below:
About Author
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My name is Precious Ejiofor, I am a professional self motivated, dependable writer and editor, with over 4 year of experience in writing for variety of business and platforms. I am able and capable to write on any kind of topic.
Specifically, I focus on producing persuasive and compelling contents that is thoughtful, prominent, and engaging.
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