Bitcoin has taken the world by storm, and it isn’t going anywhere! If you are looking to buy some bitcoin in South Africa, then here are some of the most popular places to purchase Bitcoin from in South Africa. It’s important to take your time to find the best place for you, but once you do, you will start your cryptocurrency journey today! The following list has been compiled from my own personal experience and from recommendations from other crypto traders in South Africa! If you have any suggestions or additions, then please comment on and we can update this page!
Step 1: Decide on an Exchange
There are several exchanges that you can use to purchase bitcoin in South Africa. There are local exchanges, such as Luno and Ice3x, which allow for the purchase of bitcoin but these have limited liquidity. Another option is a global exchange like Kraken or Bitstamp which has more liquidity but has a higher fee.
Step 2: Fund the Exchange
Fund the exchange with your bitcoin wallet. The easiest way to do this is by signing into Coinbase, one of the largest exchanges, and linking it with your bank account or credit card.
The next step is to withdraw money from your bank account or credit card into your Coinbase account.
Step 3: Buy your first Bitcoin (BTC)
If you’ve made your mind up and want to buy your first bitcoin, you’ll need a cryptocurrency wallet. You can find wallets created by different companies on the app store or Google Play Store. Once you have downloaded one, open it and enter your email address. These are important as they’re how digital currencies are sent from one person to another. Next, enter the password for that email address. It may seem like a lot of work just for something intangible but these passwords will help keep your money safe and secure.
Step 4: Move your BTC off the Exchange into a private wallet
Once you have your BTC on a private wallet, it’s time to make sure they’re secure. To do this, you need to set up two-factor authentication (2FA) and create a strong PIN or password. 2FA can be set up on the wallet’s website or via an app like Authy. It adds another layer of security by requiring your phone number and usually a secret code or the fingerprint sensor to withdraw money from the account.
