How Do I Buy Bitcoins in South Africa?
What exactly is Bitcoin?
Bitcoin is a decentralised digital money that you can purchase, sell, and trade without the intervention of a central bank or government.
Can I legally purchase Bitcoin in South Africa?
Buying and selling Bitcoin is legal in South Africa. Although the South African Reserve Bank (SARB) has issued warnings about the risks of trading Bitcoin, there is no legislative prohibition on any type of cryptocurrency trading.
How do I buy Bitcoins in South Africa?
1. Choose a Broker or Crypto Exchange like Coinbase, Binance, Crypto.com and Kraken to buy cryptocurrency.
2. Create and verify your account using your personal information like your passport and bank account with the crypto exchange
3. Deposit cash to invest by linking your bank account, authorizing a wire transfer or even making a payment with a debit or credit card.
4. Purchase Bitcoin and make a decision on how many coins you’d like to purchase.
5. Select a storage method for your Bitcoin, either via hot wallets, cold wallets or leave the Bitcoin on the crypto exchange.
Where can I buy Bitcoin in South Africa?
Bitcoin can be bought easily in South Africa via the following Bitcoin exchanges:
1. Binance
2. Kraken
3. eToro
4. Luno
6. Yellow Card
What is the price of a Bitcoin in South Africa?
1 Bitcoin is currently worth R284, 221.94 in South Africa.
How much money do you need to invest in Bitcoin in South Africa?
This is determined by the broker you choose. For example, if you want to trade Bitcoin CFDs at Capital.com, you simply need to deposit $20/R 339.14, or $200/R3391.05 at eToro.
How can I get free Bitcoin in South Africa?
1. Use tipping bots and platforms.
2. Visit freecash.com and earn free Bitcoins.
3. Playing Online and Offline Games.
4. Use mining browsers and free mining software.
