https://ift.tt/FLZpVIB To Buy Bitcoin in South Africa?

How did Binance become so big so quickly? There are various reasons – low trading fees, professional attitude, the large number of cryptocurrencies supported by the platform, and friendly and transparent CEO. Some of the features available on Binance are Earn (locked and fixed savings, DeFi staking, and yield farming), Pool (join their mining and staking pools and earn rewards for keeping your chosen blockchains safe), Liquid swap, Liquidity pools, Automated trading bots, spot trading, futures and margin trading, and P2P trading.

Deposit fees:
Free
Withdrawal fees:
Vary from crypto to crypto
Trading fees:
0.1%
Payment Methods:
Debit Card, Credit Card, SWIFT, Bank Transfer (SEPA), and more
Supported fiat:
USD, EUR, GBP, AUD, RUB, and 15+ more

  High liquidity
  It supports a large number of crypto assets
  Widely considered the largest crypto platform
Various advanced features and services
One of the lowest fees among top exchanges

Not available in the US
Not fully registered
Hacked in 2019

Although the US joined the list, these users can only trade cryptos on eToro. On the other hand, other supported countries have nine ways to trade. These include Stocks, Commodities, Forex, Indices, Social Trading, CFDs, ETF, Index-Based Funds, and Cryptocurrencies.

Deposit fees:
Free
Withdrawal fees:
$5
Trading fees:
0.75 % – 4.9 % spread depending on the cryptocurrency
Payment Methods:
15+ (Credit Cards, MasterCard, Visa, EWallets, etc.)
Supported fiat:
USD, EUR, GBP, and 20+ more

  “Virtual Hub” feature
  It is regulated
  Several security measures
Easy-to-use

Few available cryptos
Scalping isn’t enabled

Luno serves upcoming markets that lack local cryptocurrency exchanges and as such has a strong presence in presence in South Africa, Singapore, Nigeria, Malaysia, and Indonesia.

Deposit fees:
Fees vary by currency
Withdrawal fees:
Fees vary by payment method
Trading fees:
0.20%
Payment Methods:
Bank Transfer (SEPA), Credit Card, Debit Card, Cash Electronic Funds Transfer, Interbank GIRO, Interbank Funds Transfer
Supported fiat:
EUR, IDR, MYR, NGN, ZAR, ZMW, USD

  Beginner-friendly crypto trading
  Offers interest on crypto savings
  Secure storage

Not available for U.S. customers
Small selection of cryptocurrencies

Coinmama has over 2 million users and is operating in more than 150 countries. The company has over 40 employees. It offers a user-friendly and simple interface which makes it suitable for complete beginners.

Deposit fees:
0 – 5 %
Withdrawal fees:
None
Trading fees:
2.9 – 3.9 %
Payment Methods:
Bank Transfer (SEPA), SWIFT, Fedwire, Bank cards, Open Banking, Google Pay, Apple Pay, Skrill
Supported fiat:
USD, EUR, GBP, CAD, AUD

  Beginner-friendly interface
  Available almost worldwide
  Various ways to deposit
Simple to use
No withdrawal fee

No mobile app and no staking
No phone number for customer support

Bottom Line

Pros

Cons

When it comes to Cex.io’s reputation, it seems to be extremely high and longevity on the crypto market is one of the reasons. Cexio is a multi-functional crypto platform since it offers fiat to crypto purchases, spot trading, margin trading, staking as a service, crypto loans, and savings accounts.

Deposit fees:
 0 – 3.99 %
Withdrawal fees:
0 – 3 %
Trading fees:
0 – 0.25 %
Payment Methods:
Credit Card, Bank transfer, ACH, Epay, Skrill, SEPA, Faster Payments
Supported fiat:
USD, EUR, GBP, RUB

  Reputation is high
  Longevity on the crypto market
  Over 4 million users
Advanced features such as spot trading, margin trading, staking as a service, crypto loans, and savings accounts

Extensive Verification Process to Increase Purchasing Limits

Currently, 4 million users in over 170 countries worldwide use Kraken’s services (excluding Washington and New York in the U.S). Kraken is registered under FinCEN in the United States.  Besides buying and selling crypto, this exchange also supports margin trading, OTC trading, market, and stop-loss limit order, staking, limit, futures, take profit market order, and more. It is an easy-to-use exchange and an ideal platform for secure, safe, and fast transactions.

Deposit fees:
EUR SEPA Deposit (Free) – EEA countries only USD Bank Wire Deposit ($5 USD) – US onlyEUR Bank Wire Deposit (€10) – outside the US only USD Bank Wire Deposit ($10 USD) – outside US onlyJPY Bank deposit (Free, ¥5,000 deposit minimum) – Japan-only USD, Wire Deposit (Free)
Withdrawal fees:
Cryptocurrency: Fees vary, SEPA Withdrawal (€0.09) – EEA countries only USD Bank Wire Withdrawal ($5 USD) – US only USD Bank Wire Withdrawal ($60 USD) – outside US onlyEUR Bank Wire Withdrawal (€60) – outside US onlyJPY Bank withdrawal (¥20) – Japan onlyCAD EFT Withdrawal ($10 CAD)
Trading fees:
Maker: 0.16%Taker: 0.28%
Payment Methods:
Fedwire, Bank Transfer (SEPA), SWIFT, Wire Transfer, Etana Custody, Silvergate Exchange Network (SEN), FPS, CHAPS, and BACS, PayID, Osko
Supported fiat:
USD, EUR, GBP, JPY, CAD

  Available almost worldwide
  High security
  Over 90 cryptocurrencies
Various payment methods

Fees slightly above the industry average
No tax support

While Bitstamp does offer spot trading and staking services, there aren’t many other trading options available. Futures trading, margin trading, and DeFi trading can’t be found on this platform. Also, even the staking feature comes with certain restrictions. The rewards are only available for ETH and Algo, and US traders can’t use the service. Bitstamp requires a mandatory KYC verification process. The mobile app is available for both iOS and Android devices.

Deposit fees:
0 – 5 %
Withdrawal fees:
Sepa – 3 EUR, ACH – Free, Credit cards – 5%, International wire – 0.1%, and crypto – depends on the asset (0.0005 BTC)
Trading fees:
0 – 0.5 %
Payment Methods:
Credit/Debit Card, ACH Transfer, SEPA, USD Wallet, Faster Payments, and International Wire.
Supported fiat:
USD, EUR, GBP

  A simple interface where you can buy crypto with just a few clicks
  Dedicated Customer Support
  Competitive fees
Easy-to-use

Hacked in 2015
No margin or leverage trading
The staking program has restrictions

The extremely low trading fees are another reason why so many crypto traders opt for this platform. Most trades cost around 0.20 %, but it is based on a Taker-Maker concept. The maker fee is 0.10 %, while the taker fee is 0.20 %. These fees apply to fiat trades, crypto, and stablecoins.

Deposit fees:
0.1 %
Withdrawal fees:
Free
Trading fees:
0 – 0.2 %
Service fees:
0.1 %
Payment Methods:
Debit/Credit Cards, ACH Transfer, Wire Transfer
Supported fiat:
USD, EUR, GBP, JPY, and CNH

  Withdrawal, deposit, and trading fees are very low
  Supports margin trading, spot trading, derivatives, and other advanced order types
  The mobile app works great
Wide range of supported cryptocurrencies

Second largest hack in history
Not available for US citizens