How to buy and sell bitcoins in south africa

Ask your question. Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country. Transfer funds into your account. Table of Contents. Was this content helpful to you? Examples of peer-to-peer exchanges include LocalBitcoins and Paxful. This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering.

1. How to Buy Bitcoin in Nigeria on Bitkoin.Africa

We get it…. Picking the right Bitcoin exchange in South Africa is an soutth process for Bitcoin beginners. This guide covers all the different options for purchasing Bitcoin in South Africa with a variety of payment methods. Luno is an extremely trustworthy exchange backed by major big players in the cryptocurrency space such as Coindesk. Their services include a variety of payment methods, extremely low transaction fees, a beautiful trading interface, and custodial cryptocurrency wallets.

Read our beginner’s guide to buying bitcoin (BTC) with step-by-step instructions.

There are many options for Buying and Selling Bitcoin in Nigeria. Bitkoin Africa is a community of several Bitcoin sellers and buyers in Nigeria. Purchasing your Bitcoin from Bitkoin Africa is easy, straightforward and secure. Every buyer and seller on the site is verified via several means before they begin trading. The site also provides escrow services which means that all Bitcoin intended for sale is first held by the site before it is dispensed to Buyers.

Looking for a simple way to buy, sell and convert over 40 of the top digital currencies?

We get it…. Picking the right Bitcoin exchange in South Africa is an overwhelming process for Bitcoin beginners. This guide covers all the different options for purchasing Bitcoin in South Africa with a variety of payment methods.

Luno is an extremely trustworthy exchange backed by major big players in the cryptocurrency space such as Coindesk. Their services include a variety of payment methods, extremely low transaction fees, a beautiful trading interface, and custodial cryptocurrency wallets.

Visit Luno. Next up, is Coinmamaa popular Bitcoin and cryptocurrency brokerage. What makes Coinmama different than most on this list is the fact that it is a brokerage. With their service, Coinmama allows users to purchase Bitcoin directly from them, not another user.

Because the exchange is a brokerage, there are no custodial wallets. This means, that you must own a valid Bitcoin wallet address before using Coinmama. If this is a problem, keep reading our list to find an exchange that better suits you.

For payment methods, Coinmama specializes in credit card and debit card transactions. Expect around 5. Visit Coinmama.

The exchange has been in the space for several years, and are based in London. This means that CEX. Visit CEX. Bitcoin has come a long way since then and has gone far from being an electronic payment to being many things, including being an incredible store of value. Thus if you are yet to get your hands on Bitcoin in South Africa, you are definitely not late to the party. A study conducted by one of the leading crypto exchange in SA, Luno, revealed that South Africa leads many European countries in how to buy and sell bitcoins in south africa adoption.

Thus, South Africa is a buzzing haven for Bitcoin. There is no explicit law banning the use of cryptocurrencies in the country. Although the current cryptocurrency plane is SA is unregulated, the government has made specific steps to offer as much legal support as possible. For example, you should know cryptocurrency trade is also subject to taxation laws in South Africa.

It is thus advisable for a cryptocurrency trader in the country to hire a professional tax consultant to ensure they are tax compliant. Since cryptocurrency earnings might be subjected to tax in South Africa, can you get legal recourse if the need arises? Probably no. South African Reserve Bank SARS has made it a point to warn its citizens that they are at their own risks should they trade Bitcoin or other cryptocurrencies.

The government is, however, working on a legal framework to support virtual assets in the country. And there you have it! A full guide on the history of Bitcoin in South Africa, and all of the possible methods for purchasing Bitcoin in South Africa. Table of Contents.

Looking for a simple way to buy, sell and convert over 40 of the top digital currencies?

As a result, the safest option is to transfer your coins to a secure, private wallet. Buy Bitcoin Worldwide, nor any of its owners, employees or agents, are licensed broker-dealers, investment advisors, or aftica any relevant distinction or title with respect to investing. It is not a recommendation to trade. On the page, you can also choose which bitcoin site is best for your needs. Performance is unpredictable and past performance is no guarantee of future performance.