hedgewithcryptohedgewithcrypto

9 Best Crypto Exchanges In South Africa For 2022

Updated: Aug 8th, 2022
Kevin Groves
Kevin Groves
9 Best Crypto Exchanges In South Africa For 2022

There are many crypto exchanges available for residents in South Africa to buy Bitcoin and crypto. It can be a difficult task for beginners to find an exchange that's the right fit with so many options. We have reviewed 100+ exchanges and will list our top rated and best cryptocurrency exchanges in South Africa so you can make an informed decision.

Top Cryptocurrency Exchanges South Africa

Based on our reviews, these are the best crypto exchanges for South Africa:

  1. Coinbase (best overall)
  2. Binance (best for altcoins)
  3. Kraken (best for trading) 
  4. Gemini (best for security)
  5. Crypto.com (best for app)
  6. Easy Crypto (best for DCA)
  7. CEX.IO (best for beginners)
  8. Luno (best for simplicity)
  9. Coinmama (best for credit card)

South African Crypto Exchanges: Compared

This comparison guide provides an overview of the best South African crypto exchanges to buy, trade and sell Bitcoin and other altcoins. Our assessment is based on thorough research into the platform's features, trading pairs, payment options, supported currencies, trading fees, customer support and security methods.

ExchangeCrypto AssetsTrading FeesRatingPromotionWebsiteReview
Binance

Binance

600+0.1%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.8/5
StarStarStarStarEmpty Star
20% off trading feesVisit Binance

Binance Review
Coinbase Logo

Coinbase

250+0.5%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.8/5
StarStarStarStarEmpty Star
$5 BTC bonus (USA only)Visit Coinbase

Coinbase Review
Kraken

Kraken

1950.16% / 0.26%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.6/5
StarStarStarStarEmpty Star
None available at this timeVisit Kraken

Kraken Review
gemini exchange

Gemini

26+0.5%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.6/5
StarStarStarStarEmpty Star
None available at this timeVisit Gemini

Gemini Review
Crypto.com

Crypto.com

250+None (3.5% surcharge for credit card)
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.5/5
StarStarStarStarEmpty Star
None available at this timeVisit Crypto.com

Crypto.com Review
easy crypto logoeasy crypto logo

Easy Crypto

44+1%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.4/5
StarStarStarStarEmpty Star
$10 bonus after first purchaseVisit Easy Crypto

Easy Crypto Review
cex.io logo

CEX.IO

100+0.25% / 0.15%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.2/5
StarStarStarStarEmpty Star
None available at this timeVisit CEX.IO

CEX.IO Review
luno logoluno logo

Luno

50% - 0.1%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4.1/5
StarStarStarStarEmpty Star
None available at this timeVisit Luno

Luno Review
VALRVALR

VALR

59-0.01% / 0.1%
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
4/5
StarStarStarStarEmpty Star
None available at this timeVisit VALR

VALR Review
coinmamacoinmama

Coinmama

72% to buy
RatingOur ratings take into account the ease of use, fees, deposit methods along with the exchange's reputation. All ratings are determined solely by our editorial team.
3.9/5
StarStarStarEmpty StarEmpty Star
None available at this timeVisit Coinmama

Coinmama Review

Crypto Exchanges In South Africa: Reviews

1. Binance

Binance is one of the best crypto exchanges in the world that offers a place to buy, trade and sell more than 600 digital cryptocurrencies. Since its launch in 2017, Binance has seen a meteoric rise to become the most popular crypto trading exchange with the highest daily trading volume in the world.

Residents in South Africa can buy crypto using a credit or debit card or through their Peer-to-Peer (P2P) service. Binance has a powerful P2P crypto platform that can convert ZAR into BTC in a fast, easy, and secure way without paying fees. Bitcoin can then be traded on the popular exchange for other cryptocurrencies. Binance customers can withdraw ZAR directly to a local bank account. 

binance ZAR deposit & withdrawalsbinance ZAR deposit & withdrawals

Binance is the best cryptocurrency exchange in South Africa to trade crypto in our opinion. The fees between 0% and 0.1% are one of the cheapest rates compared to other exchanges that we have reviewed. Furthermore, there are fee rebates and discounts for holding BNB tokens or using our referral link for a 20% discount on trading fees.

Binance exchange also offers a wide range of financial services and advanced features that include:

  • Allows users to buy crypto using a wide range of fiat currencies
  • Supports multiple payment methods such as bank deposit and credit/debit card
  • Basic and advanced trading charting to suit users of varying skill
  • Margin trading platform to trade crypto with leverage
  • Stock tokens based on popular company shares
  • A secure Binance wallet to store cryptocurrency assets
  • Binance offers am interest-earning saving accounts
  • Crypto loans and Binance staking pools
  • Bitcoin debit card to pay with crypto

2. Coinbase

Coinbase is headquartered in San Francisco, California and is considered as the best crypto exchange with a wide offering of products and services for beginners. The American crypto exchange is well-known for providing a simple, reliable and easy-to-use platform. Individuals and institutions in South Africa can convert digital assets such as Bitcoin to Ethereum XRP, Litecoin, Bitcoin Cash and many others.

coinbase websitecoinbase website

Coinbase is widely regarded as one of the safest exchanges to buy Bitcoin that features 'bank-like' security measures to ensure customer funds and personal information are kept safe at all times. To date, there have been no reported hacks resulting in any loss of funds due to criminal activity. A major benefit of using Coinbase is that funds stored online are covered by an insurance policy.

The only downside to using Coinbase is the deposit and trading fees are a little high compared to other exchanges. However, the Coinbase Pro trading platform has high liquidity and is equipped with top crypto charting features and risk management tools that will benefit professional and experienced traders. 

3. Kraken

Kraken is a Bitcoin and cryptocurrency exchange that was founded in 2011. The platform is a top 5 exchange based on traffic, liquidity and spot trading volume according to coinmarketcap. Kraken has over 94 coins to buy, trade and sell with new assets added frequently. Users can also trade crypto and Forex such as EUR/USD with Kraken.

Since its inception in the market, Kraken has become a leading exchange with a high reputation for ease of use, safety and competitive pricing. The platform is suited for experienced crypto investors to make quick fiat deposits and withdrawals, visualize portfolio performance and track all digital assets in a single location.

kraken websitekraken website

4. Gemini

Gemini is a New York-based firm and regulated cryptocurrency exchange that was founded by the Winklevoss twins. The exchange has focussed on simplicity and ease of use, making it an appealing way to invest in popular coins, DeFi tokens and meme coins like Dogecoin and Shiba Inu through an intuitive and elegant web interface or mobile application.

gemini buy bitcoingemini buy bitcoin

Gemini provides a secure place for individuals, traders and institutions to buy, sell, and store digital currencies and also earn interest. Notable features include an advanced trading platform, custody service, secure wallet, mobile trading app and off-exchange crypto trades. 

The digital asset exchange features institutional-grade measures to protect its user's information and funds stored on the platform. Security features include cold wallet storage, multi-signature withdrawal process, Two Factor Authentication, encryption, whitelisting addresses and brute force login protection.

5. Crypto.com

With over 10 million customers worldwide, Crypto.com is a premium cryptocurrency exchange and trading app. The Crypto.com app is an all-in-one platform to buy, sell, trade, spend, store, earn, loan cash and even pay bills with crypto. Crypto.com offers very good deals for new and existing cryptocurrency investors such as:

  • 90 days of zero-fee crypto trading for new users
  • Up to 50% trading fee reduction on all trades for existing users of the Exchange
  • 2% bonus deposit interest rate for deposits made in the first 30 days
  • Send crypto to Crypto.com App users instantly without fees
  • Buy Bitcoin with 0% credit card fees

The option to buy crypto with a credit card for South Africans using local ZAR currency bypasses foreign conversion charges from a traditional bank. With the waiver on credit card fees for a limited time, it is one of the best cryptocurrency apps for users in South Africa to enter the market with low fees.

crypto.com south africacrypto.com south africa

6. Easy Crypto

Easy Crypto offers one of the best places to convert ZAR into Bitcoin with its beginner-friendly trading platform that can be completed in a few minutes. The platform allows purchases with fiat currency and instant crypto swaps to convert one asset to another in a fast and secure way. There are over 122 digital currencies that can be bought such as Bitcoin, Ethereum, Solana, XRP and the lesser-known altcoins and DeFi tokens. 

easy crypto south africaeasy crypto south africa

Individuals in South Africa that use Easy Crypto will be able to buy crypto using a bank transfer in RAND or SiD EFT. Purchased assets are sent directly to a hardware wallet which significantly reduces the risk of hackers stealing the coins that are held in hot wallets by traditional exchanges.

One of the best features with Easy Crypto is the ability to Dollar Cost Average (DCA) 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 on a daily, weekly or monthly basis. The order will be executed at the price of the asset at the time of purchase and send to the nominated wallet address.

7. CEX.IO

CEX.IO is one of the oldest exchanges in the world for crypto buyers and sellers and is trusted by over 4 million users. It is a world-class exchange that caters to all types of investors with its easy to use interface, making it ideal for beginners and experienced investors.

CEX.IO is a popular choice in the USA for residents that want to buy crypto instantly using credit/debit card. The exchange is available on desktop or its mobile app that supports iOS and Android smart phones. Users can even sell coins instantly and withdraw fiat profits to a VISA, Mastercard or bank account.

cex.io websitecex.io website

8. Luno

Luno is a well known cryptocurrency exchange for their beginner-friendly platform, mobile app, secure wallet an easy way to buy/sell and hold crypto. Available in multiple countries worldwide such as South Africa, Luno allows individuals to convert ZAR to digital assets such as Bitcoin, Ethereum, XRP, Bitcoin Cash and Litecoin all in the one place. 

The trading experience has been designed for beginners and is one of the easiest ways to start trading crypto using a wide range of fiat currency. Luno also provides a trusted and secure online wallet for individuals to temporarily store their coins. The most common way to purchase cryptocurrencies with Luno is a bank transfer or debit card. 

luno south africaluno south africa

9. Coinmama

Coinmama is a fiat-to-crypto exchange that is available to investors in South Africa that provides a fast, safe and easy way to buy digital currency. The exchange does not accept ZAR, this means users can only deposit USD and convert into Bitcoin or another asset. The available payment methods are bank transfer, SWIFT, SEPA, Visa and Mastercard credit and debit cards.

coinmama websitecoinmama website

The main benefit with using Coinmama is that purchased coins are sent directly to a personal hardware wallet. Bitcoin is not stored or held by the exchange. However, the trading fees and credit card charges are quite expensive compared to the above exchanges.

How We Rated Them

With so many cryptocurrency exchanges to use, it can be a challenging task 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 which include 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 not supported in certain countries due to regulation. A crypto exchange that supports customers from South Africa and is a regulated platform in the USA is also a good option. The US enforces one of the world's highest standards of financial laws and regulations that govern the digital currency industry.

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 using a simple and quick user-interface on desktop or a mobile app. We assess the user-friendliness of the desktop and mobile application.

Deposit Methods

The availability of local 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 the 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 withdraw 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 provides 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, there are thousands of other altcoins and tokens that have become popular. Our rating takes into consideration 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. Common security measures include cold wallet storage, multi-signature withdrawal process 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 spread fee which is often a 'hidden cost' and not fully disclosed. Essentially it is 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 FAQ's and How-To-Guides which is useful for beginners.

Reviews

Search 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 is recommend to stick with a well-established, reputable and trusted exchange that accepts ZAR or USD deposits. The above Bitcoin & crypto platforms are proven to be safe and used by millions of customers worldwide to buy, trade and sell cryptocurrency. If you're are planning to buy and trade cryptocurrencies, make sure to withdraw your profits to a reputable Bitcoin wallet for safe-keeping. It is the best method to protect your crypto investment.

You might also be interested in
Kevin GrovesKevin GrovesKevin Groves

Kevin started in the cryptocurrency space in 2016 and began investing in Bitcoin before exclusively trading digital currencies on various brokers, exchanges and trading platforms. In 2019, he started HedgewithCrypto to publish informative guides about Bitcoin and share his experiences with using a variety of crypto exchanges around the world.

Share this post
Or copy link
Sign up for latest news
Stay up to date with our latest exchange reviews, promotions, how-to guides and educational articles on Bitcoin, cryptocurrency & more.
HedgewithCrypto aims to publish information that is factual, accurate and up to date. The information about a specific cryptocurrency exchange or trading platform in reviews and guides may differ from the actual provider’s website.
Copyright © 2022 HedgewithCrypto ABN 74 810 472 814