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 uses a cold storage strategy and Multi-Signature methods to keep all assets secure. The Bitrex platform stores traders’ assets, using multiple layers of protection to safeguard users’ money.

    Valr Fees

    • Trading Fees – 0.85% to 0.75%
    • Maker’s Fees – -0.01%
    • Taker’s Fees – 0.1%
    • Withdrawal Fees (ZAR) – R8.5
    • Withdrawal Fees Instant (ZAR) – R60.0
    • Withdrawal Fees (Crypto): Depends on the crypto (0.002 BTC for Bitcoin)
    • Deposit Fees (ZAR) – Free
    • Deposit Fees (Crypto) – Free
    • VALR Pay Transactions – Free

    Pros

    Cons

    AltCoinTrader - Best for Staking

    AltCoinTrader Home Page

    It was first introduced in 2015 as a cryptocurrency exchange for only three coins: Bitcoin, Litecoin, and Namecoin. It has since grown and now supports more than 25 of the biggest cryptocurrencies.

    Easy Buy and Easy Save are the two primary features of AltCoinTrader. The APY of the accepted cryptocurrencies runs from 2.40% to 8.44 percent, and Easy Save is a crypto-staking platform that doesn’t have lock-in period or limits. Users can deposit their cryptocurrency to begin earning rewards.

    The rapid buy option on Easy Buy has a minimal charge and is mostly targeted at seasoned buyers. This is an opportunity for investors to profit from each transaction. AltCoinTrader uses SSL encryption and a cold storage policy to protect assets in terms of security.

    Key Feature of AltCoinTrader

    • Altcointrader is forward-thinking South African cryptocurrency platform with favourable trading conditions. It allows access to trading the majority of popular cryptocurrencies.
    • The platform exclusively supports the South African rand (ZAR), as it is primarily aimed at this region. However, there are no limits on trading in exchange for citizens of other nations, and there are traders from all over the world.
    • The exchange provides TradingView Basic as the trading interface and charges minimal transaction fees.
    • Mobile trading is available in proprietary apps for Android, iOS, and Huawei devices, in addition to web browser trading.

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

    AltCoinTrader Security

    The exchange uses an SSL certificate, protection against DDoS attacks, and other state-of-the-art means of security.

    AltCoinTrader Fees

    • Spreads: 0.22%
    • Trading Fees: 0.1%
    • Easy Buy & Sell Fees: 0.75%
    • Deposit Fees (Crypto): Free
    • Withdrawal Fee (Crypto): Depends on the crypto
    • Deposit Fees (Fiat): 0.5%
    • Withdrawal Fee (Fiat): R16 + 0.5% (Max. R95.0)

    Pros

    Cons

    Gemini - Best for Security

    Gemini Home Page

    Gemini, a leading exchange, was established in 2014 as a digital currency exchange and custodian. The platform seeks to provide users with a safe environment where they may store, trade, and buy Bitcoins.

    Over 120 cryptocurrencies are currently supported; however, it originally served as a platform for the safe trade of Bitcoin. Individuals, traders, and institutions can purchase, sell, and store digital currencies on Gemini in a secure environment while also earning interest.

    Some of its notable features are an advanced trading platform, custody service, safe wallet, mobile trading app, and off-exchange cryptocurrency trades.

    Key Features of Gemini

    • For beginner cryptocurrency investors, Gemini provides an easy-to-use interface, while more experienced traders will appreciate its ActiveTrader platform, which offers advanced charting, block trading, and tracking multiple order types.
    • There are exchanges that provide lower fees than Gemini, but people who are new to cryptocurrency trading may find comfort in Gemini’s security measures and insurance against cyber breaches.
    • Depending on the platform you’re using, Gemini’s costs are a little higher than those of certain other crypto exchanges. Gemini has low minimum trade amounts, which differ by the type of virtual currency you want to trade.
    • For iOS and Android, Gemini provides a free app. Both versions closely resemble the desktop site’s features and functionality and have received great ratings from app store users.

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

    Gemini Security

    The majority of Gemini’s cryptocurrency is kept in an unhackable, air-gapped system that is spread across different locations and runs on multiple personnel. They insure and have FIPS 140-2 Level 3 or better protection for the limited quantity of cryptocurrency they do retain online. To log in or process withdrawals, two-factor authentication is necessary. Multiple signatories are needed to transfer cryptocurrency out of cold storage.

    Gemini Fees

    • Cryptocurrency deposits: Free
    • Wire transfers: Free
    • Debit deposits: 3.49% of the purchase
    • Withdrawals: These vary depending on the cryptocurrency

    Pros

    Cons

    Bybit - Best for Futures Trading

    Bybit Home Page

    Bybit exchange, a crypto derivatives exchange, provides a fair trading environment to trade futures. The platform’s powerful charting tools focuses on leveraged trading.

    Traders can take part in leveraged trading up to 100x on Bitcoin, Ethereum, XRP, EOS, or USDT. Spot, inverse perpetual, USDT perpetual, and inverse Futures are just a few of the markets that can be accessed on Bybit.

    Key Features of Bybit

    • By offering a cutting-edge charting platform that allows its users to engage in leveraged trading, Bybit differentiates itself from other Bitcoin trading exchanges.
    • On both Android and iOS smartphones, Bybit offers an excellent mobile trading app that is highly intuitive, simple to use, and responsive. All trading features, indicators, and tools available on the web version are also available on the mobile app. Trades, position monitoring, and balance checks can be made quickly and easily by traders.
    • The ability to set limit orders using Bybit is an excellent feature that is not available on all leverage trading platforms. By dragging the limits orders on the chart, traders may maintain correct risk management throughout trade preparation and risk adjustment once the position is open.

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

    Bybit Security

    It has adopted “cold wallets,” which have built-in sophisticated security management, features, and procedures, in contrast to many other exchanges that employ “hot wallets.” Cold wallet addresses are used for all deposit addresses.

    Transfers and withdrawals of underlying assets are carried out through offline signatures. In order to limit risk, withdrawal requests are subject to three levels of verifications and daily manual reviews. Traders may withdraw once every eight hours.

    The exchange always requires two-factor authentication from the user. A six-digit 2FA code is created at random inside the Google Authenticator App when the user scans the QR code. The Recovery Key Phrase should be written down by users, and they should keep their RKP safely on a cloud server that uses complete SSL encryption.

    Bybit Fees

    • Max. Leverage up to 100x
    • Trading Fee – 0.025% / 0.0075% (futures), 0.1% (spot)

    Pros

    Cons

    Best Crypto Exchanges South Africa Comparison Table

    An overview of the Bitcoin exchanges reviewed in the aforementioned sections is given in the table below:

    Exchange Number of Coins Supported Payments Trading Fees
    Binance 500 Debit/credit card, bank wire Standard fee of 0.1%
    Coinbase 100+ Debit/credit card, bank wire The fee varies depending on the value of your purchase
    eToro 500+ Debit and credit cards 1%
    Luno 6 Credit Card, Bank wire transfer 0% to 0.1%
    Valr 50+ Debit/Credit Card, Bank wire 0.1%
    AltCoinTrader 25+ Wire Transfer, Debit Card 0.1%
    Gemini 100+ Wire Transfer, Debit/Credit Cards 1.49% to 3.49%
    Bybit 180+ Credit and Debit cards 2.5%-3%

    What is a Crypto Exchange?

    A cryptocurrency exchange, also known as digital currency exchange (DCE), is a platform that helps users to trade crypto and swap cryptocurrencies or other digital currencies for traditional fiat cash or other assets.

    Crypto exchanges may accept bank transfers, wire transfers, credit card payments, and other means of payment in exchange for digital currencies or cryptocurrencies. A cryptocurrency exchange can function as a matching platform that only levies fees or as a market maker that often uses the bid-ask spreads as a transaction commission.

    How to Choose the Best Exchange?

    When looking for the best exchange, there are a few factors to consider:

    • Make sure the exchange you choose is available where you reside because not all regions permit access to every crypto exchange.
    • Understand the fees involved in trading crypto (buying and selling cryptocurrencies) on the exchange you use. Deposit fees differ by currency used, while withdrawal fees differ by payment method.
    • Ensure the crypto exchanges you are choosing are reliable and safe. So do in-depth research on all the crypto exchanges before making an informed decision.
    • The process for buying cryptocurrencies varies between platforms. Some sites allow bank transfers for deposits, some use PayPal, still others credit and debit cards, and still more only allow users to buy Bitcoin.
    • Before selecting a crypto exchange, familiarize yourself with the currencies and tokens it supports and the various payment methods offered on the platforms. The best crypto exchanges should offer your preferred payment method.

    Final Thoughts

    The comparison guide above offers a summary of the top South African cryptocurrency exchanges for buying, selling, and trading Bitcoin and other cryptocurrencies.

    The features, trading pairs, payment options, supported currencies, trading costs, and security measures of the platform have all been thoroughly investigated for this review. Our top pick for the best crypto exchange in South Africa is Binance.

    Binance is considered the biggest crypto exchange in South Africa and globally. Having one of the largest collections of digital currency on the market; it also gives investors access to hundreds of coins and tokens.

    Binance is available in over a hundred nations worldwide, offering crypto trading services to millions of people. Last but not least, Binance is an excellent choice for someone who desires more advanced charting tools than the majority of other exchanges.

    FAQ

    Most frequent questions and answers

    Yes. Cryptocurrencies can be bought and sold legally by South Africans.

    Yes. You should be able to complete buying and selling Bitcoin online purchases in South Africa, especially if the exchange you choose accepts debit/credit card or e-wallet transactions.

    When it comes to Bitcoin wallets, the Trezor One and its more recent predecessor, the Model T, are great choices. These wallets work with thousands of different cryptocurrencies, including Bitcoin, Ethereum, XRP, and others. This makes it practical if you want to expand your portfolio of cryptocurrency investments.

    Yes, regular income tax laws apply to crypto assets, and impacted taxpayers must include profits or losses from crypto assets in their taxable income declarations. Taxpayers are required to report all taxable income connected to crypto assets in the tax year in which it is received or accrued.

    Kraken is the top Bitcoin exchange in terms of customer service. When you call Kraken, you can actually speak to professional agents. Even when Kraken’s phone support is unavailable, you may still find someone to help you, thanks to the company’s 24/7 live chat feature.

    Luno is a reliable exchange that provides safe cryptocurrency trading. The security team at Luno is constantly identifying methods scammers use to attempt to get money through fraud.

    Yes. Kraken offers full services to clients living in South Africa.

    For investors who wish to buy and hold a currency for a long time, Coinbase is the ideal option. Binance offers lower transaction fees and encourages high-volume trading with its fee structure. The maker and taker fees are the same even if they use a maker-taker fee structure.

    While Coinbase enables users to earn cryptocurrency while learning about trading, Gemini offers features that benefit institutional investors. Both platforms are user-friendly for beginners. The fact that Coinbase is available in more nations and offers a wider range of currencies gives it a slight advantage.

    Although Coinbase has a better reputation, more crypto wallets, and liquidity, Luno offers lower transaction fees. Luno is the perfect platform for those operating from Nigeria, South Africa, or Africa in general.

    When using Luno exchange, crypto users will have access to only eight crypto markets.

    The reputation of the platform and the security measures it offers should be taken into account before deciding on the best Bitcoin exchange in South Africa.

    We always try to provide the most accurate information available, and make sure our team follow through.
    If you want to know more about our Crypto Exchanges Review Methodology follow the link below

    Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual’s needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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