Welcome to this detailed article on how to buy bitcoin in south Africa which was put together with the help of a professional bitcoin trader residing in south Africa and our content writer.
If you have been searching for ways to buy and sell bitcoin in south Africa, then we strongly advice you set out time to read through this article carefully. You can also support the reading with a cup of juice or coffee lol.
Bitcoin is the leading crypto currency in the crypto market today. With lots of trooping investments in despite its volatility and uncertainty. With the help of bitcoin, receiving and sending of funds/money have become very easy and can be done in seconds. users have full control over how they use/spend there funds and there are no limitations similar to those gotten from our local banks.
With the high demand of bitcoins today, the price of bitcoin have increased tremendously over the past few years. Bitcoin started with an initial price less than a dollar, currently its trading at a price over $10,000. Just like we learnt in economics, when there is a high demand for a product or commodity, the price of the product or commodity tends to increase in value. That’s exactly the case we have with bitcoin today.
Also, there have also been an increase in fraudulent activities related to bitcoin trading. Lots of individuals have lost their funds when trying to buy or sell bitcoin. Also, some country government are as well against the use of digital currencies but that’s not the case of south Africa government.
Easy Methods To Buy Bitcoin In South Africa
- From A Trusted Private Dealer
- From a crypto exchange company
- From an escrow company
- Using Bitcoin ATMs
From a Trusted Private Dealer
Due to the high crypto support from south Africa government, there are lots of persons publicly parading themselves as bitcoin dealers. These persons buy and sell crypto and they make profit from doing this. If you are interested in dealing with such persons, you only need to ask questions. There are lots of them in your locality dealing on bitcoin at black-market prices.
From A Crypto Exchange Companies
There are a lot of crypto exchange company’s that are allowed to function in south Africa. Example of such company include binance and luno. Binance is a multi-billion dollar crypto exchange company that also supports the buying and selling of bitcoin. You can also carry out exchange of one crypto currency to the other. For example, you can exchange bitcoin for Ethereum and also Ethereum for bitcoin.
Luno is also another crypto exchange company that’s allows buying, selling and exchange of digital crypto currencies. This company head office is located in south Africa and it also has a wallet that supports the storage of funds in local currency.
From an escrow company
There are few reputable companys online that supports escrow services and allows users exchange crypto and other digital assets between themselves while serving as the middle man and providing security for both users. Example of such company include paxful.
paxful is an escrow company that allows the exchange of cryptocurrency between users at a fee. If you are interested in registering on paxful please visit paxful.com on your web browser.
Using Bitcoin ATMs
The last method of buying bitcoin in south Africa is using bitcoin ATMS. There are lots of bitcoin ATMS stationed in different states in south Africa. Example of such states include Cape Town, Pretoria, Johannesburg etc. If you are living in any of this states, you can ask around for available bitcoin ATMS for easy and safe transactions.
Please note that the above methods have been proving to be very effective in buying and selling bitcoin in south Africa. Please ensure you comply with the required policies when using any of the above methods.