9 Best Crypto Exchanges In South Africa
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There are many crypto exchanges available for residents in South Africa to buy Bitcoin and crypto. This comparison article provides an overview of the best South African crypto exchanges based on our research into their features, trading pairs, payment options, supported currencies, trading fees, customer support, and security methods so you can make an informed decision.
Top Cryptocurrency Exchanges In South Africa For 2023
Based on our reviews, these are the best crypto exchanges for South Africa:
- Binance (overall best crypto exchange in South Africa)
- Kraken (best for South African crypto traders)
- Bybit (best for experienced traders)
- Coinbase (top South African crypto exchange for beginners)
- Crypto.com (best crypto app for South Africa)
- Easy Crypto (best place for crypto DCA)
- Luno (best crypto platform SA for ease of use)
- KuCoin (best for trading a wide range of altcoins)
- OKX (best for low trading fees)
South African Crypto Exchanges: Compared
| Exchange | Crypto Assets | Trading Fees | Rating | Promotion | Website | Review |
|---|---|---|---|---|---|---|
 Binance | 385 | 0.1% (spot) and 0.02% / 0.04% (Futures) | Rating    | Up to $100 welcome bonus | Visit Binance | Binance Review |
 Kraken | 222 | 0.16% (maker) and 0.26% (taker) | Rating | None available at this time | Visit Kraken | Kraken Review |
 ByBit | 331 (608 trading pairs) | 0% (spot), 0.06% / 0.01% (futures) | Rating | 0% trading fees for 30 days (spot only) | Visit ByBit | ByBit Review |
 Coinbase | 241 | 0.4% (maker), 0.6% (taker) | Rating | $5 BTC bonus (USA only) | Visit Coinbase | Coinbase Review |
 Crypto.com | 288 | 0.075% | Rating  | None available at this time | Visit Crypto.com | Crypto.com Review |
 Easy Crypto | 160+ | 0.5 - 1.35% spread | Rating | None available at this time | Visit Easy Crypto | Easy Crypto Review |
 Luno | 11 | 0.1% (Maker) / 0.09% (Taker), 1.5% Instant Buy | Rating | Deposit $30 worth of any crypto and get AUD $30 worth of BTC | Visit Luno | Luno Review |
 KuCoin | 806 | 0.1% | Rating | Up to 500 USDT in bonuses | Visit KuCoin | KuCoin Review |
 OKX | 349 | 0.08% (maker) / 0.10% (taker) | Rating | None available at this time | Visit OKX | OKX Review |
Best Crypto Exchanges For South Africa Reviewed
1. Binance - Overall Best Crypto Exchange South Africa
Why we picked it
Binance is our top choice for crypto investors and traders in South Africa to deposit ZAR and trade crypto. Being the largest exchange in the world by volume, Binance benefits from extensive liquidity, making it excellent for people conducting large transactions. Additionally, the feature-rich platform offers several payment methods for ZAR, making it great for buying crypto with your local currency.
Claim up to $100 in free bonuses using a Binance referral code.
Promotion:- Competitive trading fees
- Many ZAR payment methods
- All-in-one trading platform
- Past regulatory issues
- Overwhelming for first-time investors
Binance is registered as an authorized financial services provider in South Africa, and the company has a strict focus on regulatory compliance, which is why it requires users to complete Know-Your-Customer (KYC) identity verification. Residents in South Africa can buy crypto using a credit or debit card, bank transfer, or through the Peer-to-Peer (P2P) service.
Residents in South Africa can buy crypto using a credit or debit card, bank transfer, or through the Peer-to-Peer (P2P) service. Binance’s powerful P2P crypto platform lets users convert ZAR into BTC quickly, easily, and securely without paying fees. BTC can then be traded on the exchange for Binance's 338 assets. Customers can withdraw ZAR directly to a local bank account.
South Africans who bought crypto with Binance can access many financial services and advanced features. This is the major reason Binance is our top pick. The features include:
- Crypto trading bots.
- Automatic investing.
- Simple-swaps.
- Binance Futures for leverage trading.
- A crypto debit card.
- The Binance Earn program.
Binance Earn is one of the best places to earn interest on crypto holdings. There are several products within the Earn program, with Binance Savings being the most popular. The Earn tools let South African investors accrue interest in crypto stored within Binance. The Binance Savings/Interest account supports many popular coins like BTC and ETH.
In our opinion, Binance is the best cryptocurrency exchange in South Africa. The trading fees between 0% and 0.1% are among the cheapest compared to other exchanges we have reviewed. Furthermore, a 25% fee discount is available for paying using BNB tokens. Moreover, Binance offers zero-trading fees for two BTC pairs.
It's easy to see why Binance is the best crypto exchange in South Africa. Unlike other crypto trading platforms, Binance offers a wider range of ZAR payment methods, including bank transfers. Additionally, the exchange has features suited to beginners and advanced traders alike, making it highly versatile and ideal for anyone wishing to trade cryptocurrency in South Africa.
Read our full review on Binance for details.
2. Kraken - Best For Its Pro Trading Platform
Why we picked it
Kraken is a cryptocurrency exchange offering its full range of services to clients living in South Africa. The exchange offers 230 coins and has a reputation for usability and security, making it great for anyone looking to protect their investments. With basic and advanced modes, Kraken is a great option for residents in South Africa looking for a Binance alternative, regardless of their experience.
Promotion:- Staking support for 16 assets
- Excellent security measures
- Registered with several authoritative bodies
- High fees
- Transactions completed using USD
Crypto assets are not regulated in South Africa. However, the nation has expressed interest in regulating the asset class in the future. Kraken is a registered Money Services Business in the US with FinCEN. it's also a registered crypto asset platform in the United Kingdom with the FCA, making it one of the more compliant exchanges we've reviewed.
Kraken lets South African residents buy crypto using ZAR via card payments and Google/Apple Pay. However, all purchases get processed in USD, and ZAR isn't supported as an account currency. Therefore, working out how your portfolio balance in ZAR will take some extra work, and purchases could be subject to additional currency conversion fees.
For seasoned crypto traders in South Africa, the exchange has launched Kraken Pro. Its top features include a customizable user interface, fully-featured crypto charting, and a real-time market tracker. South African users can also visualize portfolio performance and track all digital assets in a single location. For beginners, Kraken is the ideal platform for crypto portfolio tracking.
Kraken is also one of the best platforms to stake crypto, with 16 Proof-of-Stake tokens supported on its exchange. This is a major advantage compared to other exchanges, as investors can earn a yield on their assets while stored securely on Kraken. You can also earn a 3.75% yield on stablecoins such as the Tether (USDT) or the USD Coin (USDC).
Regarding trading fees, Kraken uses a maker/taker system with fees of 0.16% and 0.26%, respectively. Volume incentives are also available based on trading activity for all cryptocurrency pairs in the past 30 days. Kraken's fees are higher than cryptocurrency trading platforms like Binance and Bybit. However, with its well-designed mobile app, Kraken remains a top crypto trading platform in South Africa.
Kraken is a well-designed crypto exchange that will appeal to beginners and experienced traders. While Kraken boasts a staking program, excellent security, and a good range of tradable assets, its lack of direct ZAR deposit support and higher-than-average fees let down the platform.
Read our full review on Kraken.
3. Bybit - Best Exchange for Experienced Traders
Why we picked it
Bybit has become one of the most popular trading platforms for its low trading fees, a wide selection of cryptocurrencies, and extensive features. While Byibt may not be suitable for beginners due to its complicity, Bybit's one of the best crypto exchanges for South African experienced traders.
Promotion:- Competitive trading fees
- Massive selection of features
- Zero trading fees on many pairs
- Unregulated crypto exchange
- Confusing for beginners
In contrast to many exchanges we've discussed, Bybit's not regulated by any authoritative body. However, the exchange has committed to regulatory compliance and, therefore, closely monitors transactions for money laundering and requires users to verify their identities.
Although Bybit doesn't directly support fiat deposits, the exchange lets you purchase crypto with ZAR via its P2P exchange. While the supported payment methods vary from seller to seller, bank transfer, PayPal, and e-wallet are all supported.
One of the strongest aspects of Bybit's its diverse selection of trading tools. The platform offers 422 assets with up to 125x leverage for futures traders, but that's only scratching the surface. Bybit users can access copy trading, automated trading bots, and crypto-backed loans, making it ideal for anyone looking for an all-in-one exchange.
Bybit's fee structure is very similar to Binance. You can deposit crypto or use the P2P marketplace with zero fees. However, trading costs are a very competitive 0.1% on all transactions, with zero crypto trading fees on over 30 pairs denominated primarily in USDC.
Like Binance, Bybit's an all-in-one cryptocurrency trading platform best suited to experienced traders with a sound understanding of strategy. The exchange offers many tools to streamline the trading experience, but beginners may prefer an alternative due to its extensive range of advanced features.
Read our full Bybit review.
4. Coinbase - Great Platform For Beginners In SA
Why we picked it
Coinbase is a great pick for beginners in South Africa looking for a simple and safe way to invest in crypto. It's a straightforward trading platform with a selection of almost 250 coins and a highly secure cryptocurrency wallet. While the fees are slightly more expensive than other options, it's a trusted and reliable platform suited to beginners due to its simplicity and strict listing requirements.
Coinbase is a public company listed on the Nasdaq with the ticker COIN, increasing security. Founded in June 2012, Coinbase is well-known for providing a simple, reliable, easy-to-use platform.
Promotion:- Suited to beginners and experienced traders
- A strict vetting process for new assets
- Insurance policy for stored funds
- Higher than average fees
- Payments conducted in USD
An area where Coinbase excels is its regulatory compliance. The FCA and many local bodies within the US license the platform. However, the Securities and Exchange Commission (SEC) has recently charged Coinbase for not correctly registering itself. With South Africa requiring exchanges operating in the region to register by November 30th, 2023, we'll have to see if Coinbase can get licensed in time.
Coinbase supports investors and traders from South Africa and lets people deposit their local currency using credit and debit cards, bank transfers, or e-wallets. However, payments may be completed in USD, leading to expensive currency conversion fees.
Coinbase is specifically designed for new investors and beginners in South Africa with its easy-to-use and modern user interface on desktop computers and its mobile app. Buying, trading, and selling Bitcoin to cash has been streamlined for simplicity. However, experienced users looking for a dedicated trading platform can use the Advanced platform to utilize professional-grade tools.
Coinbase is widely regarded as one of the safest exchanges to buy Bitcoin, which features 'bank-like' security measures to ensure customer funds and personal information are always kept safe. To date, Coinbase has reported no hacks. A major benefit of using Coinbase is that an insurance policy covers funds stored online, which is unique compared to other platforms we've reviewed.
The only downside to using Coinbase is that the deposit and trading fees are slightly higher than other exchanges at 60bps (taker) and 40bps (maker). However, the Coinbase Pro trading platform has high liquidity and is equipped with top crypto charting features and risk management tools to benefit professional and experienced traders.
Overall, Coinbase is a solid exchange for South African residents new to trading. While the advanced platform offers a great pathway from simplicity to advanced features, its high fees will likely turn away professional traders looking to maximize profits, meaning that Coinbase is best suited to people new to investing and trading.
Read our full review on Coinbase.
5. Crypto.com - Best Crypto App For South Africa
Why we picked it
Crypto.com is a strong choice for South African crypto investors wanting a hassle-free way to trade crypto on a mobile device using the South African Rand. The exchange is famous for its track record of excellence and a feature set that includes a crypto debit card and staking. Crypto.com is divided into a beginner-focused App and an advanced Exchange, suiting traders of all experience levels.
Promotion:- Lowest fees of any South African crypto exchange
- Holds multiple licenses
- Feature-rich platform
- Split into multiple platforms
- A mobile device is required to access the Crypto.com App
South Africa doesn't currently regulate cryptocurrency. However, Crypto.com prides itself on regulatory compliance and, as such, has attained licenses from several major regulators, including the UK's FCA and the Monetary Authority of Singapore. While Crypto.com's regulators won't help South African residents if something happens, they show that the company aims to operate as legitimately as possible.
Crypto.com makes this list of the best exchanges as it can buy crypto with a credit card in South Africa. Residents can use their local ZAR currency and bypass foreign conversion charges from a traditional bank with a waiver on credit card fees at the time of writing. There are currently over 250 cryptocurrencies that can be bought using the Crypto.com App, making it a great altcoin exchange for traders.
Crypto.com Exchange also has a tradable South African Tether price chart for users who want to speculate on the crypto markets using their native currency. This pair isn't offered on other platforms and is tailored to South African traders that want to trade with a familiar unit of account.
In addition, Crypto.com Exchange is powered by TradingView charts that give full control over the display with hundreds of built-in indicators and drawing tools and the ability to save different views per asset. Furthermore, Crypto.com offers an impressive array of 21 staking assets with yields of up to 6.5%, letting South African investors boost their portfolios passively.
Users can quickly access spot (with optional margin), perpetual, futures contracts, and even program crypto trading bots for more automated trading strategies. Order forms offer customization, including market, limits, stop-loss, and take-profit orders. Additionally, the Crypto.com exchange offers highly competitive trading fees of 0.075%, the lowest of any exchange on our list.
The disadvantage of Crypto.com is the arrangement between the Crypto.com App, Crypto.com Exchange, and Crypto.com DeFi Wallet. You must create separate accounts and link them together, complicating the fee structure. Furthermore, several of the benefits on Crypto.com are reserved for customers that stake large amounts of CRO tokens.
In short, Crypto.com is a great exchange for beginners looking for a simple app to buy and sell crypto or more experienced individuals searching for a secure exchange with low fees. Although being split into several platforms complicates Crypto.com's ecosystem, it's a small price to pay for the value afforded by the company.
Read our full review of Crypto.com.
6. Easy Crypto - Best Place For Dollar Cost Averaging
Why we picked it
Easy Crypto is a top contender for the best crypto exchange in South Africa due to its simplicity and direct support for transactions using the South African Rand. This non-custodial platform is ideal for people who value security and those seeking a no-frills exchange to buy cryptocurrency using fiat. Easy Crypto adheres to all Anti-Money Laundering (AML) regulations and requires users to complete verification being buying crypto on the exchange.
Promotion:- Extremely beginner-friendly
- Support for local payment methods
- Non-custodial
- Very high fees
- No advanced features
Easy Crypto lets people buy or sell Bitcoin and altcoins using bank transfer, Stitch, and Ozow to ensure that its customers in South Africa have ample access to local payment methods. With the exchange offering 137 unique digital currencies, Easy Crypto is an excellent choice for anyone buying leading cryptocurrencies using ZAR and local payment methods.
Easy Crypto is a safe exchange that doesn't store customer funds or private keys for purchased cryptocurrencies. Purchased assets are sent directly to a hardware wallet, significantly reducing the risk of hackers stealing the coins held in hot wallets by traditional exchanges. Moreover, the broker complies with AML/KC requirements, offers a 100% fund safety guarantee, and includes 2FA to secure user accounts.
One of the best features of Easy Crypto is using the Dollar Cost Average (DCA) tool to build an investment in Bitcoin or another digital currency over time. The recurring order features can be used to automate deposits to the exchange daily, weekly, or monthly. The order will be executed at the asset's price at purchase and sent to the nominated wallet address.
As for the fees, buying and selling crypto with Easy Crypto South Africa is one of the more expensive platforms on this list. Easy Crypto charges a variable spread fee of 1.5% for all buy and sell orders below $1000. However, high-volume orders offer slight discounts that can be viewed using the 'Rate Info' button when previewing a purchase.
Easy Crypto is a no-frills exchange that lets you purchase cryptocurrency using your local currency. However, the platform charges high fees and lacks advanced features like trading bots or staking. Therefore, Easy Crypto is best suited to investors looking for a simple way to buy crypto with their local currency, not people looking for advanced trading tools or a true crypto exchange.
Read our full Easy Crypto review.
7. Luno - Top Crypto Exchange For Ease of Use
Why we picked it
Luno is a popular cryptocurrency exchange famed for its beginner-friendly platform and support for many countries, including South Africa. The exchange offers a simple way to purchase cryptocurrency and convert ZAR to 11 digital assets using your bank account and provides a tool for repeat purchases, making the platform suitable for people wishing to invest in crypto at regular intervals repeatedly.
Promotion:- Very simple to use
- Registered in South Africa
- Tool for reoccurring purchases
- Extremely high fees
- Only 11 supported assets
To ensure that it can continue operating within the bounds of the law worldwide, Luno is registered with the South African Financial Intelligence Center and holds licenses in many nations, including Australia (AUSTRAC) and the United States (FinCEN).
If you want to fund your Luno account, the platform offers just a couple of payment methods, limiting accessibility. You must top up your Luno Account using an instant deposit or bank transfer, requiring access to a local bank account.
Similarly to Easy Crypto, Luno is very basic, offering only basic buy/sell functionality. However, its simplicity can be considered a strong point as Luno is extremely easy to use, making it accessible to novice investors. Additionally, the platform supports reoccurring purchases across daily, weekly, or monthly intervals, which is helpful for Dollar-Cost-Averaging (DCAing).
Unfortunately, Luno charges extremely high fees across the board. While EFT deposits are free, cash deposits cost ZAR 20 plus a 5% fee, while instant EFT fees are 1.40%. Additionally, trading fees are a flat 2% which is far higher than any other exchange we've included in our list of the best crypto exchanges in South Africa.
Luno is a basic platform tailored toward novice investors searching for a simplistic way to buy Bitcoin or altcoins using ZAR. While the platform is basic, it's one of the few exchanges registered in South Africa, indicating that it will seek a license from the country before the November 30th cut-off date, meaning it could be a strong choice for investors looking for an exchange with longevity.
Read our full review on Luno.
8. KuCoin - Best For Selection of Crypto Assets
Why we picked it
KuCoin is a cryptocurrency exchange that offers one of the greatest selections of assets in the world, with 764 supported coins. Combined with its competitive trading fees and impressive range of features and it's clear to see how KuCoin earned its place on our list of the best crypto exchanges in South Africa.
Like Bybit, KuCoin isn't regulated by any authoritative bodies. Although cryptocurrency remains unregulated in South Africa, the exchange must seek a license by November 30th to continue providing services to South African investors.
Promotion:- Competitive fees for trading
- Huge selection of altcoins
- Many ZAR payment methods
- It could be too complex for beginners
- Unregulated exchange
KuCoin doesn't let you deposit fiat currency to the exchange directly. Instead, you must purchase cryptocurrency that will be credited to your wallet. Thankfully, KuCoin supports purchases through its Fast Trade tool and its P2P marketplace, with credit/debit cards, bank transfers, and third parties like Banxa all supported.
One of the biggest advantages of KuCoin is its all-in-one approach. Thanks to its beginner-tailored features like simple swaps and more advanced tools like customizable trading bots, the exchange caters to a wide range of users. Furthermore, KuCoin offers one of the best selections of staking products on the market, making it excellent for passively boosting your holdings.
While deposit/withdrawal fees vary based on your chosen payment method, crypto deposits are free. Additionally, KuCoin's trading fees start at 0.1%, with volume-based discounts available, making it a good choice for anyone likely to conduct extremely large transactions within 30 days.
KuCoin is a well-designed trading platform perfect for altcoin traders thanks to its massive selection of assets. Furthermore, with competitive trading fees and many features not seen on exchanges like Luno, it's KuCoin apparent that KuCoin is best suited to experienced altcoin traders looking for a platform with many tools designed to streamline trading.
Read our KuCoin review for details.
9. OKX - Best for Low Trading Fees and Wide Feature Selection
Why we picked it
OKX is a popular alternative to better-known trading platforms like Binance. The platform has some of the lowest fees in the industry, surpassed only by Crypto.com, making it an excellent choice for people wishing to maximize profits while avoiding Crypto.com's convoluted ecosystem. Additionally, its highly customizable trading bots are excellent for people trying to automate their trading.
Promotion:- Extremely low fees
- Many automation tools
- Support for ZAR purchases
- Only bank transfers directly supported for ZAR purchases
- No way to directly deposit fiat currency
It's impossible to fund your OKX account using ZAR directly. However, you can purchase crypto or stable coins like USDT using your local currency. OKX only accepts bank transfers. However, the platform has integrated Simplex and Mercuryo into its platforms, meaning users can buy crypto with ZAR using Apple Pay/Google Pay, bank card, and e-wallet.
OKX will appeal to professional traders wishing to streamline their workflow thanks to its impressive selection of automation tools. You can set up a trading bot using custom strategies and technical indicators or boost your earnings using copy trading. Additionally, OKX offers crypto loans and staking, which is great for quickly freeing some cash or boosting your investments.
One of the strongest aspects of OKX is its fee structure. The exchange charges 0.08% for maker orders and 0.1% for taker orders, making it cheaper than Binance, Bybit, and KuCoin. Additionally, volume-based discounts are available for users to reduce costs further.
OKX is a popular exchange packed with features designed to appeal to traders of all calibers. Many features, like copy trading and trading bots, have automated and precision modes, making them highly versatile. Combined with the exchange's low fees, OKX is a great all-around platform, particularly for those looking for automation tools.
Unfortunately, OKX isn't licensed by leading authoritative bodies like the FCA or the SEC. However, the exchange has acquired a license from the Dubai Virtual Assets Regulatory Authority (VARA) as well as Hong Kong, the Bahamas, and Seychelles.
How We Rated Them
With so many cryptocurrency exchanges, it can be challenging for beginners within South Africa. To assist with finding the best cryptocurrency exchanges, we have rated each exchange against a set of categories that can be read in our full review methodology, including the considerations below.
- Trusted and Regulated. Using a local exchange is the safest option to buy and sell crypto in South Africa, as some platforms are unsupported in certain countries due to regulations. A crypto exchange that supports customers from South Africa and is a regulated platform in the USA or UK is also a good option as the US enforces one of the world's highest financial laws and regulations standards.
- Beginner-Friendly. Ease of use is an important consideration for beginners that have limited experience using an exchange, broker, or trading platform. New investors looking to convert fiat currency to cryptocurrencies are better suited to using a simple and quick user interface on a desktop or a mobile app. We assess the user-friendliness of the desktop and mobile application.
- Deposit Methods. The availability of locally supported payment methods to fund an account should be at the forefront of new investors in SA. Our rating checks the deposit methods available for residents in South Africa using ZAR. For example, one of the quickest and most accessible deposit options is using a credit card linked to a local bank.
- Withdraw to a Local Bank Account. Not all exchanges allow the withdrawal of ZAR to a bank account. This is an important feature for investors that will eventually cash out of their investment. Binance is one of the few exchanges that provide the option to convert crypto and withdraw money to a local bank in ZAR.
- Supported Cryptocurrencies. Bitcoin is widely available on the vast majority of digital currency platforms. However, thousands of other altcoins and tokens have become popular. Our rating considers the number of cryptocurrency assets available and the trading pairs against cryptos and fiat currencies.
- Wallet Security. The risk of online scams, fraud, and theft is a major concern in the blockchain community. Our scoring system assesses the platform's security features to ensure the safety and protection of funds stored by the exchange. Security measures include cold wallet storage, multi-signature withdrawal, and two-factor authentication.
- Fees. There are several different fee structures to be aware of when using a crypto exchange. There are fees to deposit ZAR, withdraw cash or crypto, and trade between assets. Exchanges also charge a spread fee, often a 'hidden cost' and not fully disclosed. it's the difference between the bid and ask price on the market. Our review takes into consideration all fees.
- Customer support. Explore the website to find out what communication methods are available to support users that need troubleshooting advice or assistance on the exchange. Also, some exchanges will provide comprehensive FAQs and useful How-To-Guides for beginners.
- Reviews. Searching for online exchange reviews, forum comments, and posts on social media is a great way to see what experience other investors and traders have had with the platform.
Conclusion
To conclude our article on the best cryptocurrency exchanges in South Africa, it's recommended to stick with a well-established, reputable, and trusted platform that accepts ZAR or USD deposits. The above crypto trading platforms are all excellent choices for South African investors and traders. Everyone has different requirements, so select the exchange that best suits your needs.
If you plan to buy and trade cryptocurrencies, withdraw your profits to a reputable crypto wallet for safekeeping. it's the best method to protect your crypto investment.
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