Buy from ICE3XBuy from CoinDirect

How to buy Bitcoin in South Africa

by | Bitcoin Trading

These days its really easy to buy bitcoin in South Africa and in this article I’m going to share some of my favourite ways of buying (and selling) bitcoin and other crypto coins in this sunny country.

Ice3X

With IceCubed (yes, that’s what they’re called) you can buy more than just Bitcoin.

You can buy Ethereum and Litecoin too. There volume is not as great as Luno’s but you can buy or sell your crypto at pretty much the same price as them.

Click here to buy bitcoin (or litecoin/ethereum) on Ice3X

Coindirect – Bitcoin Exchange and OTC Market

Coindirect is a new entrant into the market and is a unique place to buy and sell not only bitcoin but other cryptocurrencies as well (up to 40 coins).

Not only can you buy coins on the exchange, but you can buy or sell Over The Counter (OTC) so you can transact large amounts without impacting the price on exchange.

Luno

The easiest way to buy bitcoin is from the exchanges and Luno is one of the most liquid exchanges in South Africa.

Open an account, get verified, make a deposit with one of the big South African banks and you’re ready to buy bitcoin on their exchange.

After you sign up and buy or sell R500.00 or more (exchange excluded), you will receive R10.00 worth of Bitcoin.

Click here to buy bitcoin from Luno.

AltcoinTrader

As the name suggests, AltcoinTrader offers the most amount of altcoins from all the exchanges that we’re investigating here. I have only recently used them yet, so let me tell you later what I think about them.

Click here to buy bitcoin with AltcoinTrader.

LocalBitcoins

LocalBitcoins is not an exchange.

Its a website that puts you in touch with other people in the similar area who want to buy or sell bitcoin. I haven’t used it before and the price is sometimes at a premium to the other exchanges or it could even be cheaper (if you find a good deal)

Click here to buy bitcoin with LocalBitcoins.

Other ways to buy Bitcoin in South Africa

I don’t recommend you use these ways, especially if you’re a beginner, but they may be sometimes that you need to use another exchange or service to buy your bitcoin.

Spectrocoin

Spectrocoin allows you to buy bitcoin and other cryptocurrencies and recently they allowed Skrill as a payment form. This is the way that I buy bitcoin from the payments that forex brokers make into my Skrill account.

I pay a lot in fees, but since I don’t need to use the money immediately and am just holding my bitcoin for the long-term (unless I need the cash, then I simply sell on a local exchange. Click here to buy bitcoin using Spectrocoin.

Skrill

A few days ago, I also learned that Skrill also allows you to buy and sell various cryptocurrencies on their platform. I don’t see how one can withdraw the bitcoin you buy to an external wallet, so if you do buy from them, you’ll have to wait until it increases in value before you can exchange back to fiat and then withdraw.

Click here to buy crypto with Skrill.

You can also get a prepaid debit card with them, but this only available for people in Europe.

VirwoxBuy bitcoin using PayPal. I haven’t used it (successful, they stopped my transaction for some reason) but theoretically, you could use your PayPal funds to convert to their own currency from PayPal before converting to BTC.

There’s also Coinbase, which is one of the most popular places for American’s to buy bitcoin, they’re also getting lots of VC funding at the moment, so expect them to be very popular with governments.

If you’ve found somewhere else to buy, please let me know in the comments.

Please Leave A Comment