How to Buy Bitcoin With ZAR in South Africa

[BroKaine]

Buying Bitcoin in South Africa is surprisingly simple. There are actually so many options, SA crypto traders aren’t as limited as we used to be. Here are my 3 favorite methods to buy Bitcoin with ZAR in South Africa currently.

I’ve evaluated them based on how many boxes I believe they tick for South African crypto traders.

These are my 3 favorite methods at the moment, feel free to add yours.

LocalBitcoins



LocalBitcoins is a P2P Bitcoin marketplace that allows you to buy Bitcoin (No other supported coins) from other people in ZAR. You will need to browse through multiple sellers to find the right one at the right price, you must then create a trade with that seller for the amount that you want, starting a conversation where you will need to go through a verification process by sending through personal documents to verify your identity. One major downside of LocalBitcoins is that you’ll need to find a buyer, start a conversation, get through verification and wait for the seller to receive the funds for each transaction that you make.
Website: http://https://localbitcoins.com


Remitano



Remitano is similar to LocalBitcoins, it’s a P2P marketplace, however it’s much faster to trade, it supports multiple cryptocurrencies and you only need you to complete one KYC process to transact with multiple traders. Remitano is ideal for both buyers and sellers, you can buy Bitcoin (and multiple other coins) with ZAR easily, it has a built in ZAR wallet that you can use to withdraw to your bank account. Remitano also has promotions running, including 0% trading fees and lots of ways to earn a good amount of BTC. You can make a lot of money buying and selling on this P2P marketplace.
Website: Remitano - buy and sell Bitcoin and Ethereum easily and securely


Luno



Luno is a cryptocurrency wallet and exchange that allows you to buy Bitcoin and other cryptocurrencies in South Africa with ZAR. You can link your bank account and buy the amount that suits you, it also has support for multiple cryptocurrencies. This is a great option if you're not worried about getting charged a bit more for transaction fees such as a 2% fee if you use the instant trading features opposed to the exchange.
Website: Buy Bitcoin, Ethereum, XRP and Litecoin | Luno

These are all great options to try. I recommend you give all 3 a go and let me know what you think.

 

[Salee]

Valr 👌

 

[Nerforsty]

If you don't mind registering on Binance, they have an option that you can buy with a credit/debit card. Which is a lot quicker for me since luno doesn't accept instant eft from FNB at the moment. Also, you get a pretty spot on exchange rate.

 

[Leetpro]

Valr you get paid to be a trade maker...

 

[Leetpro]

Valr you get paid to be a trade maker...

Exchange Buy/Sell

-0.1% for makers (we pay you) 0.2% for takers

 

[RickyGC]

I'm curious if anyone here has used the Bitcoin ATM in Sandton and what your experience or thoughts were?

 

[BroKaine]

If you don't mind registering on Binance, they have an option that you can buy with a credit/debit card. Which is a lot quicker for me since luno doesn't accept instant eft from FNB at the moment. Also, you get a pretty spot on exchange rate.

Binance is cool! Learning curve can be challenging to some new comers to crypto trading.

You can also pick up some Bitcoin with Simplex on Remitano using your Visa / Mastercard, exchange rate is relatively high but doesn't matter if your buying lower volumes.

Fun Fact - Luno offers credit card support for EU but not South Africa

 

[BroKaine]

I'm curious if anyone here has used the Bitcoin ATM in Sandton and what your experience or thoughts were?

I wish the exchange rate was lower but it gets the job done. One of my friends got completely locked out of his cash for a week or so when he lost his wallet and they used it a few times.

 

[mikewazar]

Localbitcoins is such a mission imo, Luno and Valr are great.

 

[RickyGC]

Personally I use VALR, Luno and then CEX.io quite often.
With CEX.io I fund my USD account using my VISA card and it's often the fastest way to buy, which is what I care about more than price.
Depositing to VALR/Luno takes some time, but if I'm worried about price I'll buy here.

 

[RickyGC]

Crypto.com has waived credit card purchases too till the end of September and their rates are a bit lower than local exchanges, so for anyone looking to buy the dip and who would like a better price and instant ability to get more cash in, this is probably the easiest way.

 

[BroKaine]

Localbitcoins is such a mission imo, Luno and Valr are great.

Yeah I agree, have you tried Remitano?

 

[BroKaine]

Personally I use VALR, Luno and then CEX.io quite often.
With CEX.io I fund my USD account using my VISA card and it's often the fastest way to buy, which is what I care about more than price.
Depositing to VALR/Luno takes some time, but if I'm worried about price I'll buy here.

Ah CEX.io was one of the first exchanges I signed up with back in the old days and I used it a fair amount. I used to be able to instantly withdraw to my bank account and it would be spendable but for some reason that stopped being possible so I slowly used them less.

 

[Pansyfaust]

Valr you get paid to be a trade maker...

I've traded on most local exchanges,and something just feels off about how VALR price moves compared to Luno. Sure, they pay the maker and their volume "seems" high, but when I'm trying to fill an order upwards of 1BTC on VALR, it seems to take a hell of a lot longer than on Luno.

 

[RichardPayne]

This is actually a really nice option, you could not always buy BTC like that. I was saving for so long, because I wanted to invest in BTC and the price was little lower in 2019 which was perfect for me. I got some and I was really happy when the price kept rising in 2020. It was almost 12k in the beginning of the month, but few days ago it dropped to around 10k. It is not easy when you see that, but that is the risk of it. I like reading articles about cryptocurrency and the best place for that is investotrend.com. They are also right about most of the stuff they say.

 

[OnlyBreezy]

howsit, currently which walltes/platforms are you guys/girls using for crypto. currently using Luno for bitcoin but im very keen on getting some of the smaller coins. swissborg has a good amount of options available but i am unable to deposit funds due to capitec