Luis Clark
Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    Best Crypto Exchanges South Africa

    Binance Logo
    4.8/5

    Several crypto exchanges are available in South Africa to buy Bitcoin and alternative cryptocurrencies. With so many alternatives, it can be challenging for beginners to select an exchange that fits their needs.

    The reputation of the platform for security, regulation, favourable customer feedback, trading fees, the range of coins offered, required minimum deposits and account balances, customer support, trading tools, and so forth should be your main considerations when choosing the best crypto exchange South Africa for your needs.

    Keeping the above factors in mind, we have researched more than 100 exchanges and have created this best cryptocurrency exchanges South Africa Guide.

    Best Crypto Exchanges South Africa: Our Opinion

    Our choice of the best crypto exchange in South Africa is Binance.

    Binance serves as the world’s largest crypto trading platform by daily trading volume. The low trading fees, institutional-level security using cold storage technology, and diverse coin offering make it the preferred choice among cryptocurrency investors.

    A detailed list of some of the best crypto exchanges in South Africa can be seen below.

    Binance - Best Overall

    Binance Home Page

    One of the best crypto exchanges in South Africa, Binance provides a marketplace for more than 500 different digital currencies. Binance has experienced a rapid climb since its establishment in 2017 to become the most well-known cryptocurrency exchange in the world, with the biggest daily trading volume.

    It is a cryptocurrency trading platform in South Africa that offers some of the lowest fees, making it the most straightforward and cheapest way to trade cryptocurrency, whether novice or experienced trader.

    Key Features of Binance

    • Supports the largest number of cryptocurrencies in the marketplace. The fees charged by Binance are among the lowest in the market.
    • The Binance crypto exchange is simple to navigate, making it perfect for beginner and advanced traders. For traders with varying levels of experience, Binance provides a number of trading tools to buy crypto and sell crypto.
    • Users can deposit fiat currency and cryptocurrency from external wallets. Since Binance accepts deposits in all the main fiat currencies, Forex disadvantages are eliminated.
    • The Binance platform is available on iOS and Windows and is compatible with desktop computers.
    • Users can acquire instant loans secured by crypto assets, earn rewards by staking cryptocurrency, and more. The platform allows futures and margin trading in addition to spot trading.
    We summarised all the Binance key features, but we also made an in-depth Binance South Africa Review page that you can check out.

    Binance Security

    Two-factor authentication (2FA) through the Google Authenticator app or SMS, address whitelisting, device management and the ability to limit device access are some of Binance’s security features, making it one of the best exchanges in South Africa in terms of security.

    Although Binance was the target of a $40 million hack at the beginning of 2019, the exchange responded quickly. It paid out all the affected users through Binance’s Secure Asset Fund for Users right away (SAFU). SAFU is a cold storage wallet that maintains sufficient capital to compensate for users’ losses.

    Binance Fees

    • Crypto Deposit Fees: Free
    • Fiat Deposit Fees: 0% to 3.5%
    • Crypto Withdrawal Fees: 0% to 2,5%
    • Taker Fees: From 0.04 to 0.1%
    • Maker Fees: From 0.02 to 0.1%
    • Instant Buy/Sell Trade Fees: 0.5%
    • Credit or Debit Card Purchases: 4.5%

    Pros

    Cons

    Coinbase - Best for Beginners

    Coinbase Home Page

    Coinbase is a popular cryptocurrency exchange in South Africa that makes it easy to trade crypto and exchange cryptocurrencies. Beginners will prefer the Coinbase platform for simply buying crypto and/or selling crypto orders.

    Advanced crypto investors can use Coinbase Pro to access additional features and order types. More than 4,000 cryptocurrencies are supported by the Coinbase crypto wallet.

    Key Features of Coinbase

    • Coinbase provides an intuitive platform that is easy to use. A few clicks will perform buy-sell orders, check balances, and compare prices.
    • The trading platform has been used by traders as a launching pad into the Bitcoin market. Traders can purchase a number of cryptocurrencies, including Bitcoin, Ether, Litecoin, and many others.
    • Coinbase Bitcoin exchange is one of the best crypto exchanges in South Africa since users can buy Bitcoin and other cryptos by using fiat currencies through a credit card, debit card, and bank transfer.
    • Although Coinbase fees are a little higher than those of other cryptocurrency exchanges, the services provided make them worthwhile. These include transaction costs for buying, exchanging, and network withdrawal fees.
    • Users will be compensated trading fees for the first three months when using a referral link to trade on Coinbase.
    • Coinbase is available on the Web or through iOS and Android mobile devices.

    We summarised all the Coinbase key features, but we also made an in-depth Coinbase South Africa Review page that you can check out.

    Security of Coinbase

    With “bank-like” security measures to guarantee that customer funds and personal information are kept safe at all times, Coinbase is recognized as one of the safest exchanges to buy and sell Bitcoin.

    So far, there have been no reported hacks leading to loss of funds. A great benefit of using Coinbase is that an insurance policy protects funds stored digitally. Coinbase offers a secure crypto platform with its crypto wallet called the Coinbase crypto wallet.

    In addition to storing 98% of users’ funds in offline cold storage, Coinbase has two-factor authentication and biometric fingerprint logins. It shows you a QR code representing the secret key, which you will then need to scan using an authenticator app on your mobile phone.

    Fees on Coinbase

    • Debit Card Fee – 3.99%
    • The fee to Buy Bitcoin – is 1.49% standard commission.
    • Minimum Deposit – $50 is recommended by the exchange.
    • Margin or Spread Fees – 2%
    • Instant card withdrawal – Up to 1.50% of any transaction and a minimum fee of $0.55

    Pros

    Cons

    eToro - Most Trusted in South Africa

    eToro Home Page

    eToro is one of the most popular Bitcoin exchanges in South Africa. It is a major international cryptocurrency exchange that allows South African crypto investors to trade Forex, exchange-traded funds (ETFs), and crypto. It has over 3,000 tradable symbols.

    eToro is a market-leading crypto trading platform that enables users to imitate the trades of seasoned investors or gain access to premium benefits in exchange for disclosing their trading tactics.

    As a low-risk crypto trading platform with competitive trading fees and spreads, eToro is considered one of the most trustworthy cryptocurrency exchanges.

    Key Features of eToro

    • On the eToro trading platform, you can trade hundreds of different financial instruments from a wide range of categories, including commodities, digital currencies, fiat currencies, indices, CFD trading, and exchange-traded funds (ETFs). Different investment techniques can be used to trade each asset type, each of which has unique characteristics.
    • eToro operates in a multi-regulatory framework. Hence customers in South Africa can open an account with eToro as either a Retail or Professional Client.
    • Retail customers get access to eToro’s trading assets and, if appropriate, can trade manually or through Copy Trade (social trading).
    • With its transparent and user-friendly online trading platforms for currencies, indices, and commodities, eToro makes the global financial markets easily accessible to any individual trader.
    • eToro is one of the best crypto exchanges in South Africa with advanced web-based and mobile trading tools.
    • Customers have unlimited access to their money in their eToro accounts. You can withdraw money up to the value of your eToro account balance, less the amount of margin utilised.
    • Payments made by bank transfer, credit card, and PayPal are prioritised above those made by credit card and are deposited to the same account as the deposit.

    We summarised all the eToro key features, but we also made an in-depth eToro South Africa Review page that you can check out.

    Security of eToro

    eToro is one best South African crypto exchanges that provide a secure, regulated environment for cryptocurrency trading. eToro is a legit CFD provider and trading platform and is regulated in Europe by the Cyprus Securities and Exchange Commission (CySEC) and in the UK by the Financial Conduct Authority (FCA).

    To lessen the possibility of losing assets because of a hack or operational error, the majority of user funds on eToroX are kept in cold storage. In collaboration with renowned cybersecurity company GK8, the exchange deploys a cold storage Custody as a Service (CaaS) solution.

    eToro advises account holders to set up two-factor authentication (2FA) as an additional layer of security in addition to holding user funds in cold storage.

    Fees on eToro

    • Deposits – Nil
    • Withdrawals – $5
    • Management Fee – Nil
    • Inactivity Fee – $10 fee once a month on any of your remaining balances

    Pros

    Cons

    Luno - Most User-Friendly

    Luno Home Page

    Luno is a large crypto exchange in South Africa and one of the first to come out back in 2013.

    It is one of the well-known South African crypto exchanges and is known for its user-friendly interface, mobile app, secure wallet, and easy platform for crypto trading and storing cryptocurrencies.

    Luno, accessible in many nations worldwide, including South Africa, enables users to instantly convert ZAR to digital assets, including Bitcoin, Ethereum, XRP, Bitcoin Cash, and Litecoin.

    The trading experience is designed for beginners and is one of the easiest ways to start trading crypto using a wide range of fiat money. Luno offers a reliable and secure online wallet for people to temporarily store their currencies.

    Key Features of Luno

    • Luno functions as an exchange, making cryptocurrency trading simple and available for all South Africans. Luno is a great option if you’re new to cryptocurrency and want an exchange with a low learning curve. It features a user-friendly web platform and mobile app.
    • With the savings wallet Luno provides South Africans, they can get a variable interest return on their cryptocurrency investments. Three different cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and USD Coin (USDC), all have savings wallets available. You can easily get passive income if you invest in any of these digital assets by storing them in a savings wallet.
    • Compared to other best cryptocurrency exchanges in South Africa, Luno’s trading fees are reasonable. Maker-taker costs begin at 0 and 0.1 percent and can be reduced for investors who conduct a significant amount of trading each month. Few platforms can compete with Bitcoin trading fees of 0.1 percent or less.
    • Some of the best educational content can be found on Luno. Articles and blogs regarding digital assets and cryptocurrencies are available on its learning portal.

    We summarised all the Luno key features, but we also made an in-depth Luno Review page that you can check out.

    Luno Security

    Any crypto exchange must prioritize security, and Luno is one of the best crypto exchanges in this department. For the majority of customer assets, it uses “deep-freeze” crypto storage. The encryption keys for this cryptography are maintained in safe deposit boxes inside bank vaults. Cold (offline) and hot (online) wallets are used to store the small amount of cryptocurrency that Luno uses daily.

    Luno Fees

    • Trading Fees: 1.10%
    • Maker’s Fees: Free
    • Taker’s Fees: 0.41%
    • Buy Fees Instant Sell or Buy:1.10%
    • Transfers within Luno Ecosystem: Free
    • Deposit Fees for Crypto: Free
    • Deposit Fees (Transfer Bank Instant): Free
    • Withdrawal Fee for Crypto: Depends on the crypto (0.004 BTC for Bitcoin)
    • Withdrawal Fee for Fiat: Rp 15,000

    Pros

    Cons

    Valr - Best for Low Trading Fees

    Valr Home Page

    Registered in South Africa, VALR is a crypto exchange platform that aims to provide a way for financial transactions with a borderless handshake. They have over 100,000 active members and offer a beginner-friendly experience. It is consistently gaining traction because of positive evaluations and user interfaces. VALR supports 60 cryptocurrencies, including XRP, Bitcoin, and Ethereum.

    A range of features offered by VALR South African Bitcoin exchange can pique anyone’s curiosity. Some key features are making payments to various VALR accounts, trading cryptocurrency without a cost, accessing and monitoring the crypto market (and all exchanges), and staying up-to-date with news and information as needed.

    Key Features of Valr

    • When it comes to crypto trading, the exchange has dozens of cryptocurrencies. The supported cryptocurrencies encompass Bitcoin, XRP, Ethereum, Ethereum Classic, and Bitcoin Cash for exchange.
    • One of their most well-known products, VALR Pay, offers liquidity. Users can instantly obtain liquidity by depositing funds or other assets into the respective wallets of their friends and family members.
    • The cryptocurrency exchange offers mobile trading through iOS and Android applications and a web-based trading terminal. A referral program with four reward tiers is also available.
    • To deposit funds at the crypto platform, users must use the local South African Rand via EFT from any South African bank. Users may also withdraw to any South African bank account.

    We summarised all the Valr key features, but we also made an in-depth Valr Review page that you can check out.

    Valr Security

    Valr’s signup process is one of the fastest. They adhere to Anti Money Laundering (AML) standards by using AI technology to match a user’s face.

    VALR