South Africa - Bitcoin Exness
Established in 2008, Exness provides forex and CFD trading on currencies, commodities, and cryptocurrencies. The broker offers multiple account types and is regulated by multiple national authorities.
Exness' trading platforms are designed with advanced security measures to protect clients' data. Furthermore, they abide by local privacy laws.
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South Africa's Bitcoin adoption is on the rise as more people turn to crypto for purchases. It also provides an anonymous, speedy method of money transfer; however, you should be familiar with your country's laws and regulations before using it.
One of the most popular methods to purchase cryptocurrency is via Bitcoin ATMs. These machines enable you to purchase Bitcoin, Litecoin, Ethereum and Zcash; however, it's essential to note that these ATMs tend to only be located in major cities and charge a considerable amount in transaction fees.
At present, 15 Bitcoin ATMs exist in Africa - seven in South Africa and two in Ghana. They are located across five cities: Cape Town, Pretoria, Johannesburg, and Nelspruit.
On June 14th 2018, Saverite Florauna on Corner West and Brits installed Pretoria's first Bitcoin ATM: General Bytes. This machine allows buyers to purchase both Bitcoin and Ether up to R5,000 with ID scan verification required if purchasing digital currencies over this limit.
Another Bitcoin ATM can be found at Woodlands Boulevard Mall in Pretoria East. This machine is operated by Lamassu and accepts Bitcoin, Litecoin, Dash, Ethereum and Zcash as payment methods.
This ATM is operated by Bitmart and open Mondays through Fridays between 8:00 AM and 5:00 PM, as well as Saturdays between 8:00 AM and 1:00 PM. Unfortunately, it is closed on Sundays.
Africa boasts a high proportion of crypto users, yet the country lags behind when it comes to ATM availability due to lack of infrastructures and policy clarity. Furthermore, much of Africa's population lives in rural areas which exacerbates this issue further.
CFDs
CFDs are a widely-used trading option in South Africa. They provide an efficient way to trade on various markets without owning the actual asset, making them suitable for both novices and experienced investors alike.
Cryptocurrencies like Bitcoin and Litecoin have seen tremendous growth in popularity over the last several years, even though they're relatively new to financial markets. Today, these digital coins are among the most widely traded around the globe.
Some investors prefer to own the coins themselves, while others opt for trading them through CFDs. This is because CFDs provide faster transactions, lower costs and greater versatility. Furthermore, owning the underlying crypto is much safer than owning its derivative.
Contrary to traditional investments, CFDs allow you to invest an unlimited amount of money. Leverage can help increase position size and reduce the risk of losing too much capital; however it should be noted that CFDs are highly speculative and carry a high degree of potential loss.
To begin trading CFDs, open a free account with an established broker such as Admirals. You can fund your account either via credit card or bank transfer.
Another payment method is electronic funds transfer (EFT), which can be used for deposits and withdrawals. EFT offers a speedy and straightforward method to move money from your account to the bank.
Depositing and withdrawing funds with Bitcoin is a secure method. All you need is a valid ID and an active South African bank account to get started.
Withdrawing Cash From an ATM or Kiosk: South Africa offers many stand-alone ATMs and currency exchange kiosks. While these are generally secure, be aware that some may charge a fee.
Funding your accounts with debit cards or online wallets is a fast and effortless way to deposit or withdraw funds. However, keep in mind that transactions using debit cards do have minimum and maximum amount limits.