How to Buy Bitcoin With Luno in South Africa
In South Africa, you can buy Bitcoin with your local currency on Luno’s digital asset exchange. We will walk you through the process of purchasing Bitcoin in under 10 steps. Keep reading to learn more about buying your first investment property using cryptocurrencies, as well as other ways to invest your money.
What is Bitcoin?
Bitcoin is a virtual currency created in 2009. Unlike traditional currencies such as the South African Rand, Bitcoins aren’t printed and managed by any central authority. Instead, they’re created through computer code that’s run across the internet. Anyone can create new Bitcoins by investing computing power in solving complex problems. This “crypto mining” is how new Bitcoins enter circulation. However, Bitcoins can also be bought and sold on virtual currency exchanges like Luno like stocks. In short, you can use Bitcoins to send money to anyone in the world, and you can buy almost anything you want online.
How to Buy Bitcoin With Luno in South Africa
After you decide you want to buy Bitcoin, you’ll need to sign up for a digital asset exchange like Luno. Once you’re on the exchange, you’ll need to deposit funds into your Luno account using a bank account or mobile money transfer. You can find out more about how to fund your account on Luno in our step-by-step guide. Once your account is funded, you can buy Bitcoin by following the instructions in your Luno account settings. You can fund your Luno account with almost any bank account or credit card. You can also fund your account with a number of payment methods such as Intermediary Service Operators (ISOs), mobile money, and Airtel Payments customers. Once you’ve funded your account, you can then buy Bitcoin. The exchange rate varies depending on market conditions, but you can expect to pay a 10% surcharge on the price of Bitcoin at the time of purchase.
Exchanges for Investing Your Bitcoin
The best way to store and profit from your Bitcoin investments is to keep them in a digital wallet like a hardware or software-based wallet. Exchanges can be risky to use because they’re regulated differently in each country. If you choose to keep your Bitcoin on an exchange, you’ll need to make sure to keep your digital wallet securely encrypted and to follow all official laws in your country to hold and use Bitcoin as an investment. Exchanges like Coinbase, Cryptorobo, and eCoinbras offer users the ability to easily buy and sell Bitcoin and allow users to keep their Bitcoin on the exchange even while they hold their funds in a wallet.
Buying a Property With Bitcoin?
When people think about investing their money in real estate, they usually think about buying a property with cash. However, you can also buy real estate with Bitcoin. Real estate agents and owners across the country are open to the idea of Bitcoin real estate investing. The best way to buy a property with Bitcoin is to find a broker or agent who lets you pay for properties with Bitcoin. Alternatively, you can find a buyer who is willing to take Bitcoin as a form of collateral. The upside to buying a property with Bitcoin is that it’s a much more liquid investment than real estate. You can sell it easily for cash or use it to buy bigger and better things. The downside to buying a property with Bitcoin is that it’s volatile and can go down in value like any other investment.
Conclusion
Investing in real estate, stocks, and bonds is a wise way to grow your savings. However, there’s also a growing movement of cryptocurrency investors who are looking to buy their first property with digital currencies. Buying a property with Bitcoin can be profitable if you know what you’re doing and you have a broker that’s open to working with cryptocurrency investors.
