Things i can buy with bitcoin in south africa

What is the blockchain? By contrast, Binance. Ease of Use. Last updated: 17 December

Looking for a simple way to buy, sell and convert over 40 of the top digital currencies?

We get it…. Picking the right Bitcoin exchange in South Africa is an overwhelming process for Bitcoin beginners. This guide covers all the different options for purchasing Bitcoin in South Africa with a variety of payment methods. Luno is an extremely caj exchange backed by major big players in the cryptocurrency space such as Coindesk. Their services include a variety of payment methods, extremely low transaction fees, a beautiful trading interface, and custodial cryptocurrency wallets.

Ask an Expert

There are various ways to buy bitcoins in South Africa. Coindirect offers 3 ways to buy bitcoin, the Wallet, Exchange and the Marketplace. Yes, bitcoin is legal in South Africa to read more about how it is taxed and regulated read this article on Bitcoin regulation in Africa. The price of bitcoin changes every day, you can check the current market price of bitcoin on the Coindirect homepage or once you are logged in to your Coindirect account in your bitcoin wallet. Alternatively, you can use our BTC to ZAR calculator to check how much bitcoin you will get for your Rands at the current market price. Watch this video to find out how to deposit cash into your Coindirect account.

The State of Bitcoin in South Africa

We get it…. Picking the right Bitcoin exchange in South Africa is an overwhelming process for Bitcoin beginners. This guide covers all the different options for purchasing Bitcoin in South Africa with a variety of payment methods.

Luno is an extremely trustworthy exchange backed by major big players in the cryptocurrency space such as Coindesk. Their services include a variety of payment methods, extremely low transaction fees, a beautiful trading interface, and custodial cryptocurrency wallets. Visit Luno. Next up, is Coinmamaa popular Bitcoin and cryptocurrency brokerage. What makes Coinmama different than most on this list is the fact that it is a brokerage. With their service, Coinmama allows users to purchase Bitcoin directly from them, not another user.

Because the exchange is a brokerage, there are no custodial wallets. This means, that you must own a valid Bitcoin wallet address before using Coinmama. If this is a problem, keep reading our list to find an exchange that better suits you. For payment methods, Coinmama specializes in credit card and debit card transactions.

Expect around 5. Visit Coinmama. The exchange has been in the space for several years, and are based in London. This means that CEX. Visit CEX. Bitcoin has come a long way since then and has gone far from being an electronic payment to being many things, including being an incredible store of value. Thus if you are yet to get your hands on Bitcoin in South Africa, you are definitely not late to the party.

A study conducted by one of the leading crypto exchange in SA, Luno, revealed that South Africa leads many European countries in crypto adoption. Thus, South Africa is a buzzing haven for Bitcoin. There is no explicit law banning the use of cryptocurrencies in the country. Although the current cryptocurrency plane is SA is unregulated, the government has made specific steps to offer as much legal support as possible.

For example, you should know cryptocurrency trade is also subject things i can buy with bitcoin in south africa taxation laws in South Africa. It is thus advisable for a cryptocurrency trader in the country to hire a professional tax consultant to ensure they are tax compliant. Since cryptocurrency earnings might be subjected to tax in South Africa, can you get legal recourse if the need arises? Probably no. South African Reserve Bank SARS has made it a point to warn its citizens that they are at their own risks should they trade Bitcoin or other cryptocurrencies.

The government is, however, working on a legal framework to support virtual assets in the country. And there you have it! A full guide on the history of Bitcoin in South Africa, and all of the possible methods for purchasing Bitcoin in South Africa.

Table of Contents.

How to buy and sell bitcoins in South Africa

The State of Bitcoin in South Africa

Things i can buy with bitcoin in south africa Bitcoin with cash is quick and convenient but is usually more expensive than other options. Check out our guide on how to buy Bitcoin anonymously. Over-the-counter OTC brokers can offer better prices, increased transaction limits and faster processing times to large-volume traders. Exchanges woth almost instantly because Changelly never actually controls your tokens but just exchanges. With their service, Coinmama allows users to purchase Bitcoin directly from them, not another user. Verification times. There are hundreds of platforms to choose from, and they can be separated into three main categories: Bitcoin brokers. There is no explicit law banning the use of cryptocurrencies in the country. To find the cheapest exchange, we looked at overall cost-effectiveness when buying BTC with fiat currency, including exchange commission fees, deposit and withdrawal fees, exchange costs and any other applicable fees. Got a PayPal account and thongs to use it to buy Bitcoin? However, make sure you research your purchase thoroughly and are fully aware gitcoin the risks involved yhings you buy. Please visit CoinCorner for its exact pricing terms.