Best Crypto Exchange South Africa 2022
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Loading... - Maria Potgieter
- 13 Jun 2022
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Choosing the best crypto exchange in South Africa for your requirements should primarily focus on the reputation of the platform for security, regulation, and positive user feedback.
Alongside that you can research factors like trading fees, supported range of coins, minimum deposits and account balances, customer support, technical indicator tools and so on.
In this comparison guide, we’ll list and review the best crypto exchanges in South Africa for 2022.
The Top Bitcoin Exchanges in South Africa Reviewed
You will need to think about what your main priorities are when choosing the best crypto exchange as a resident of South Africa.
For example, are you looking for the best crypto exchange in terms of fees and supported markets, or are you more concerned with trading tools and features?
To ensure that you select the South Africa crypto exchange for your requirements – consider one of the platforms reviewed below.
1. Crypto.com – Overall Best Crypto Exchange in South Africa for 2022
Crypto.com is the overall best crypto exchange in South Africa for its low-fee policy and diversified asset library. Regarding the former, you can buy and sell crypto here at a commission of just 0.40% – which is very competitive. We like that Crypto.com rewards its users with lower commissions when trading higher volumes.
You won’t be short of trading opportunities at the Crypto.com exchange, not least because it is home to over 250 digital currencies. Large-cap tokens include the likes of Bitcoin, Ethereum, Dogecoin, Cardano, Shiba Inu, Tether, and more. You can also access a variety of metaverse coins – such as Decentraland and The Graph.
Once you have purchased your chosen digital currency, Crypto.com offers a solid custodial wallet that will ensure your tokens are kept safe at all times. You can also download the Crypto.com DeFi wallet which gives you sole control of your private keys. Many South Africans will use Crypto.com for its interest-earning accounts.
All you need to do here is choose your preferred term – from flexible, 1-month, and 3-month accounts, and you will be paid a competitive APR of up to 14.5%. Crypto.com offers numerous benefits when you buy and stake its native digital token – Cronos (CRO). This includes lower trading commissions and higher crypto interest yields.
We also like Crypto.com for its growing NFT marketplace – which covers a variety of projects across art, photography, sport, and more. When you buy an NFT via the Crypto.com platform – no fees or commissions are charged. In terms of getting started, we found that you can typically open a verified account in less than five minutes.
To buy digital currency instantly, you might decide to deposit funds with your credit or debit card. Bank wires are supported too. Either way, when you buy and sell digital assets here – you can download the Crypto.com app for iOS or Android. This will give you access to the cryptocurrency markets 24/7 no matter where you are.
What We Like:
· Over 250+ crypto coins supported
· Accepts debit/credit cards and bank transfers
· Great reputation
· Offers crypto interest accounts and lending services
· Competitive fees
2. Capital.com – Best Platform to Trade Crypto With Leverage
The next platform to consider from our list of the best crypto exchanges in South Africa is Capital.com. Although Capital.com isn’t technically an exchange – this CFD trading platform allows you to speculate on the future value of over 470+ digital currency pairs without owning the underlying token.
And as such, this is a great option for those of you that are concerned about how to safely store your crypto assets in a private wallet. Not only that – but when you trade crypto CFDs at Capital.com – you will not be charged any buy or sell commissions. Spreads – which is the gap between the bid and ask price of the pair you are trading, are very competitive here.
We also like Capital.com because it allows you to enter the market with a long or short order. This means that you can enter a position depending on whether you think the crypto asset will rise or fall in value and thus – this offers superb flexibility in all market conditions.
Another major benefit of trading crypto CFDs at Capital.com is that you will have access to leverage facilities. This means that you can enter positions with more than you have available in your Capital.com account. In terms of supported markets, you can trade Bitcoin against the South African rand, the US dollar, euro, and more.
Most other pairs contain the US dollar but you can also speculate on crypto-cross pairs like ETH/BTC. In addition to cryptocurrencies, Capital.com also offers thousands of stocks and ETFs, forex, indices, and more. Getting started with a Capital.com account is very simple and fast – and the minimum deposit is just $20.
However, this is on the proviso that you fund your account with a debit/credit card or a supported e-wallet. If, on the other hand, you opt for a bank wire, you need to deposit at least $250. We like that Capital.com does not charge any deposit or withdrawal fees. Finally, Capital.com is authorized and licensed by ASIC, FCA, CySEC, and the NBRB.
What we like
· 0% commission on all supported markets
· Trade crypto with leverage
· Ability to go long or short
· $20 minimum deposit when using a debit/credit card or e-wallet
· Great mobile app for iOS and Android
