Buying a bitcoin in south africa

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. Coinmama Popular. Huobi Cryptocurrency Exchange. Use your credit or debit card to buy bitcoin and other cryptocurrency without having to verify your identity. Rather than having to deal with a centralised authority such as a bank to process transactions, bitcoin holders can transfer their coins directly to one another on a peer-to-peer network. What is bitcoin? In fact, South Africa ranks second in the list of countries that are most interested in Bitcoin after Nigeria, according to Google Trends.

The Regulatory Environment

We plan to take out all the complexity, uncertainty and risk of purchasing bitcoin in the country. It is time for nuying process of buying bitcoin to become simpler and easier. We believe that bitcoin and blockchain technology will radically transform and create opportunities across our great continent. We are committed to explore these opportunities in South Africa and to grow the bitcoin community in the region. At this point the safest way to purchase bitcoin is through an established trusted exchange. Currently South Africa has three relatively well known exchanges for you to choose. A afrcia trusted option but one that is often used in South Africa is Local Bitcoins.

The State of Bitcoin in South Africa

There are various ways to buy bitcoins in South Africa. Coindirect offers 3 ways to buy bitcoin, the Wallet, Exchange and the Marketplace. Yes, bitcoin is legal in South Africa to read more about how it is taxed and regulated read this article on Bitcoin regulation in Africa. The price of bitcoin changes every day, you can check the current market price of bitcoin on the Coindirect homepage or once you are logged in to your Coindirect account in your bitcoin wallet. Alternatively, you can use our BTC to ZAR calculator to check how much bitcoin you will get for your Rands at the current market price. Watch this video to find out how to deposit cash into your Coindirect account.

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

We plan to take out all the complexity, buying a bitcoin in south africa and risk of purchasing bitcoin in the country. It is time for the process of buying bitcoin to become simpler and easier. We believe that bitcoin and blockchain technology will radically transform and create opportunities across our great continent. We are committed to explore these opportunities in South Africa and to grow the bitcoin community in the region.

At this point the safest way to purchase bitcoin is through an established trusted exchange. Currently South Africa buying a bitcoin in south africa three relatively well known exchanges for you to choose. A less trusted option but one that is often used in South Africa is Local Bitcoins. The idea behind LocalBitcoins. Users can post advertisements offering to exchange bitcoin at a certain rate. The exchange rate and payment methods for buying or selling bitcoins are decided by the user and a transaction takes place on that basis if a purchaser responds to the ad and agrees to the terms.

Bitcoins are stored in a web wallet from where you can pay your bitcoin purchases directly. With the relative low volumes and the costs related to purchasing and running bitcoin ATMs a large scale roll-out of ATMs in South Africa is not expected any day soon.

This wallet has a nifty feature enabling users to buy and sell bitcoin. You can download the wallet onto your mobile phone and use the GPS functionality to locate users willing to trade with you close to where you are. This does require a fair amount of trust between the buyer and seller of the bitcoins and caution is advised, but then again you pay no exchange fees. You can download the app by visiting Qcan. If at all possible, the best way to get your hands on bitcoin is to earn.

If you are able to offer your services or products for sale in bitcoin, you should be able to build a store of bitcoin quickly. To get paid in bitcoin for products you sell online, your best bet is to use a company called Bitpay which makes it dead simple to include a bitcoin payment option on your website.

You can also suggest people you do business with to send bitcoin directly to your wallet. Bitcoin mining is really not a profitable way of acquiring bitcoin at the current price and the investment required in equipment and electricity costs.

This form of acquiring bitcoin is now only viable for very large companies operating at a very large scale and with much invested in hardware. Bitcoin mining is however an important component of the bitcoin network and is required to verify transactions. It is smarter to buy bitcoin though, unless you are able to get electricity at a very low price! Toggle navigation Buybit.

Buy Bitcoin About Contact. How to Buy Bitcoin. Discover how and where to buy bitcoin in South Africa. The bitcoin revolution is in the making. Be a part of history. Contact Buybit. Email Address. Phone Number. Bitcoin Exchanges At this point the safest way to purchase bitcoin is through an established trusted exchange. Earn Bitcoin If at all possible, the best way to get your hands on bitcoin is to earn.

Mine Bitcoin Bitcoin mining is really not a profitable way of acquiring bitcoin at the current price and the investment required in equipment and electricity costs.

The State of Bitcoin in South Africa

Gemini Cryptocurrency Exchange. Visit CEX. The buying a bitcoin in south africa it takes to buy bitcoin varies depending on the payment method and platform you use. And there you have it! The exchange has been in the space for several years, and are based in London. Buy bitcoin The final step is to submit an order through your chosen platform. Buy Bitcoin Worldwide is for educational purposes. These include platforms like Coinbase and Coinmama, and using your credit card allows you to make quick and convenient purchases. If you want to buy bitcoin, start comparing a range of cryptocurrency brokers and exchanges. Luno Cryptocurrency Exchange. Changelly lets you buy bitcoin with Litecoin, Dogecoin, altcoins and many other digital tokens. For payment methods, Coinmama specializes in credit card and debit card transactions. This makes it evident that South Africa will move in a cautious but progressive manner to regulate cryptocurrency and Bitcoin in the country.