The boom in the cryptocurrency market itself stands for what a great time it is to make an investment in one of the leading as well as the maiden cryptocurrency – Bitcoin – which is said to be digital gold. Also, when it comes to dealing in cryptocurrencies – it involves a lot of risk because of the volatile world it comes from but it is worth taking the risk.
Given the ease of buying and selling of these currencies – a lot of people have indulged in its trading in South Africa. Although, the government has not declared the cryptocurrencies as a legal tender – we should make sure that we trade in these cryptocurrencies on popularly genuine platforms. However, you cannot trust on just any exchange in order to purchase a Bitcoin. Hence, we have a list of the world-reputed bitcoin exchanges which you could make use of without any fear since they are one of the most trusted exchanges to resort to.
Coinmama is one of those bitcoin exchanges which serves not only in the South African region but also in the global marketplace – thus – making the exchange a lot more reliable. However, this bitcoin exchange is one of the priciest ones that prevail in the market for they charge 6% for each purchase so made. However, this also implies that the chance of scam has reduced since only reliable people will be able to make such investments.
This exchange is marked due to its global presence and also because it barely charges anything for the exchanges. One of the most essential things that need to be mentioned about this particular exchange is that it is focused on the exchange of Bitcoin alone. Thus, it gives you a leverage in learning the basics if that is what you intend on doing.
This is a “homegrown” exchange for cryptocurrencies which was launched in the year 2013. The basic focus of the exchange is on Bitcoin, Ethereum and Litecoin. The scope of this exchange is limited since it has not gone worldwide yet but it is a safe zone for people looking to buy cryptocurrencies in South Africa.
This exchange is not only available in South Africa but also has its presence in the UK, Australia and other powerful countries. Thus, allowing an increase in the scope of the trade to take place. Along with this, this particular exchange offers a huge number of payment options making things easier for the consumers.
By the means of Bitit, it is possible for consumers to purchase the Bitcoin in person as well due to its offline presence around the world. The exchange platform also allows online purchases of the cryptocurrency by the means of using Credit as well as Debit card. However, the fuss that is involved in the whole process makes it less desirable to be used by the users.
This is another exchange which is very well known throughout South Africa, apart from this – the exchange has its roots in the rest of the countries as well. However, the concept of this exchange is that in order for you to buy a Bitcoin you must be in possession of alternate cryptocurrencies so that you can buy a Bitcoin out of that. Thus, this would allow you exposure to other alt coins.
One of the most user friendly tokens that is available in town is none other than Bittrex. Bittrex inculcates a very simple process in order to exchange the cryptocurrencies. The best thing about this exchange is that it trades in a lot of cryptocurrencies and is available throughout the world, thus, making the platform really competitive.
Binance is an exchange which could be considered as reliable in order to use to purchase Bitcoin. The exchange has a very easy to use design and the menus allow you to navigate between your portfolio with regard to trade. The exchange allows you to trade in 30 markets as well as in 20 different coins. Thus, this is something that you could put to good use in accordance with what you desire.
If you are an advanced trader then this is your go-to option because the interface has been developed in such a manner in order to suit those who have had knowledge in this field. The presence of this exchange is throughout the world and that adds to competition edge which one must be thoughtful about while getting into the buying and selling business of Bitcoin.
The exchange involves a 0.25% for its traders, however, the fee is less as compared to other exchanges, thus, increasing its competitiveness. The competition of this exchange can be felt throughout the globe, thus, exposing the South Africans to the highs and lows of the cryptocurrency market. This is yet another highly recommended exchange to make use of in order to buy Bitcoin.
These exchanges can be seen as safe resorts for buying Bitcoin and the chance of con decreases a notch when you use these exchanges. Also, since they have their presence nearly all over the world they would expose you to the desired competition. However, we recommend readers to check the commissions, fee and other terms and conditions before finalizing the platform.