Its one thing mining Bitcoin, however navigating the ability to buy Bitcoin can also seem like a daunting task to some. That’s why BitcoinProsper has decided to put a summary list of the best places to buy Bitcoin. Bitcoin, though being popular worldwide, is restricted in some countries with caps on its applications. However, if you are living in South Africa, you don’t have to worry as we luckily haven’t banned the currency and you can still easily buy Bitcoins. One important thing to keep in mind is that you need a Bitcoin Wallet before you wish to buy some exchange. Here are few mediums through which you can buy bitcoins in South Africa
- Local Bitcoins- this is a popular platform acting as an escrow service. The platform acts as a bridge between bitcoin sellers and buyers. The method of payment is cash deposit and transaction is done through face-to-face meetings. This is a fastest and confidential way of buying bitcoins in South Africa. The only drawback is that is more focused on higher amounts of bitcoins exchange.
- Coinmama– this platform is helpful as it allows you to buy bitcoins with the use of credit or debit card. The transaction fees are approx 6%. Another good feature is that you don’t need to reveal your identity if you are buying less than $150 of bitcoins.
- Bitcoin ATMS- people in South Africa have been consistently using Bitcoin ATMs to purchase Bitcoins with cash. The transactions are private and offer convenience. Most ATMs have fees around 5-10%.
- Luno– you can use Luno app on your phone to buy more bitcoins while on the go. The app offers 0% fees and is operating in selective countries including South Africa, Nigeria, Malaysia, Indonesia and Nigeria. The app offers instant buy feature but misses out on wallet storage service. The app also offers infinite exchange limits depending on the level of the verification.
- Bitit– this is yet another popular means of buying Bitcoins in South Africa. Bitit lets you buy the cryptocurrency through a 3DS enabled debit or credit card. You can also buy via cash with Neosurf, Flexepin and Cashlib vouchers.
- Coin corner– the bitcoin exchange is based on Isle of Man and normally caters to first time bitocin buyers. The mode of the payment includes credit-debit card, SEPA, GBP bank transfer and Neteller. Furthermore, you don’t need to verify your identity for the transaction amount below £
- Changelly-this bitcoin exchange lets you transact bitcoin through Litecoin, Dogecoin and several other digital tokens. The exchange takes place in Changelly almost instantaneously as you are only exchanging your tokens. This is a fastest and easiest mode of Bitcoin exchange in South Africa with reasonable fees. The disadvantage is that it can be used without digital tokens or altcoins.
As prolific as crypto currencies might seem, there are various tools and mediums through which one can buy bitcoins in South Africa. The price of this cryptocurrency is reaching new heights since last years spike. As it turns more mainstream, more and more people are looking to exchange currency in Bitcoin. We hope that the listing will help investors and users benefit from Bitcoin through an efficient exchange gateway.