Best Crypto Trading Platforms in South Africa

As the world delves deeper into the non-ending stream of blockchain technology, several countries have continued to emerge as frontliners of the move. One of the countries gaining traction for its active participation in Blockchain technology is South Africa.

The massive recognition South Africa has drawn in the blockchain space is courtesy of its regulatory policies, broad adoption and compliance, and the engagements gotten from institutions operating within its borders.

In this post, we have taken the time to compile the most efficient and reliable trading platforms currently deployed within the borders of South Africa, so that your trading decisions can be better informed as a Cryptocurrency trader or enthusiast, who is a foreigner in South Africa. So if you are planning a summer vacation to South Africa, save this post somewhere and most importantly, pay close attention.

7 Best Trading Platforms in South Africa

Crypto trading platforms provide an easy go-to “marketplace” for traders and investors to buy, sell, stake and swap digital currencies at a decent exchange rate. Crypto trading platforms that serve the South African nation are built and chosen to meet security criteria and user-friendly features. Let’s look at these trading platforms in detail.

VALR

Coming first on our list is VALR. The trading platform boasts a daily trading volume spanning between $30M – $32M. On estimate, a creeping figure of $15B+ is the processed Market cap value of VALR. The monthly visits held by the trading platform within the borders of South Africa are within 10.9K per month.

VALR is South African registered and fully licensed by the Financial Sector Conduct Authority (FSCA) as a trading platform.

Binance

Globally recognised and famed as a centralised exchange platform, Binance still commits great participation within the borders of South Africa. Globally, Binance commands a daily trading volume of $30B.

Binance has a license for its operation in South Africa from the local FSP agency. Its market cap value is estimated to be within the excesses of $91.9B, and a total monthly visits of 70M per month.

Luno

This looks to be one of the most dominating trading platforms that commands the loyalty of many South African crypto participants. The highest daily trading volume ever recorded is $123M as seen in May 2021.

Records have it that Luno has a market cap of $35B+ over its 10 years. Registered monthly visits are around 23.3M visits. It is widely accepted by South Africans over other trading platforms by a huge margin.

Bybit

Popular across the globe, Bybit has a licensed and accepted presence in several countries of the world, and South Africa is part of them. Bybit has an estimated value of $5.9B as its 24h trading volume.

The market cap value is estimated to be at $25B with an active servicing of over 30M users around the globe. Bybit is popular in South Africa, and it supports ZAR deposits.

OKX

The growth level of Okx isn’t all too sporadic in South Africa, but it still has a well-received global presence. There are no exact figures given about its 24h or daily trading volume, nor is the Market cap disclosed.

OKX has a provisional FSCA license, growing in South Africa and $7.7M monthly visits to its name.

Easy Crypto

Easy Crypto as a trading platform doesn’t have it’s Market cap values specified, nor does it have the daily trading volume, and monthly visits open to public view.

In the South African context, it is a Local African fiat-to-crypto platform, though it is built on a smaller scale.

Kraken

Primarily, the concept and focus of Kraken is built on Security. Kraken, as a trading platform, has FSCA global recognition. The Kraken mobile app adds an extra layer of sauce to the entire cryptocurrency trading experience and asset management.

Although its market cap values, daily trading volume, and monthly trading visits aren’t specified or made public, the trading platform is still recognized globally with its FSCA licence.

Conclusion

As earlier emphasised, South Africa is considered the hub of almost all technological breakthroughs in Africa, hence its advances in blockchain technology. This post provides a well-worked guide to give you an insight into what the South African trading ecosystem looks like, as well as the best, safest and most reliable trading platforms you can count on for a smooth and efficient trading experience as a local or foreigner in South Africa.

Meanwhile, it is critical and of utmost importance that we remind you that as an investor or trader, you choose the trading platforms that align with your user specifications and consequently meet all of your needs as a cryptocurrency investor.

Do you want us to talk about another country’s cryptocurrency ecosystem and services? Kindly let us know.

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