Bitcoin for sale south africa

Otherwise LocalBitcoins is a great choice in many countries that are not listed here. Bitstamp is accessible to everyone who can do a bank transfer to their bank account in Slovenia, regardless of the country of your residence.

In Asia the exchange Coincheck. Contact Us Contact Us. Where can I buy and sell bitcoins? If you want to get started as quickly as possible you have two options Login to your Bitbond account and buy bitcoins with a simple SEPA wire transfer European bank account required Get the Lyyke app and buy bitcoins with a credit card credit card required If these options aren't feasible for you, read on.

There are 3 ways to buy and sell bitcoins Brokers: It is usually faster than going through a marketplace or an exchange and the sign up process is easier. But often this also means a bit higher fees.

Coinbase is the most prominent example of a large broker with a presence in 24 countries. LocalBitcoins is a good example for an international marketplace.

The advantage of a marketplace is that cash can be a payment option. However, it usually takes a couple of days until the verification process is completed. If you don't want to wait for a few days, a broker is the better choice. If you want to buy larger volumes more frequently signing up with an exchange is worth the money saved.

Consider these 5 factors when you buy or sell bitcoins Speed: On exchanges the verification process can take a few days but transactions can be very quick. With brokers or marketplaces the initial sign up usually is fast but completing a trade can take a couple of hours or even a day or two.

Don't fall for players that try to stay anonymous and don't publish the name of their company only for a slightly lower fee. Typically brokers are more convenient but also a bit more expensive than exchanges.

They can be compared to something like Gmail: This is for advanced users only, but a Bitcoin wallet simply consists of a Bitcoin address and a private key. Hardware wallets are dedicated devices to store your Bitcoin addresses and private keys. Many people use LocalBitcoins , a site that connects local buyers and sellers, where you pay via bank transfer or meet up in person and trade in cash. There are two Bitcoin exchanges in South Africa: Luno is a really impressive Bitcoin company, and not just by local standards.

You can buy Bitcoin from Luno via their website or their smartphone app. We highly recommend using them if you want to get set up with Bitcoin in a fast and easy-to-understand manner.

Never put all your eggs in once basket. Many people are overwhelmed by the high price of Bitcoin. I recommend starting with a few hundred or thousand rand, just to get the hang of it. Bitcoin is really volatile high up-and-down swings in the exchange rate. There are however unique characteristics to Bitcoin that you should know: Bitcoin is Global Bitcoin can easily be sent to a wallet across the room or across the world.

Bitcoin is Cheap The transaction fees levied by card processors for transactions and the settlement fees charged by banks for international transfers are significantly higher than fees for sending bitcoin. Bitcoin is Fast It takes one to two days to receive a bank payment from a different bank, two to five days for a merchant to receive funds from a credit card transaction and up to a week or more for international bank transfers. Bitcoin is Transparent All Bitcoin transactions that have ever happened are recorded in a ledger known as the Blockchain.

Bitcoin is Irreversible If someone uses a stolen credit card at your store, the owner of the stolen card can simply reverse the charges with their bank a process known as a chargeback. What is Bitcoin used for? Speculation This is the number one use for Bitcoin at the moment. Trading Bitcoin attracts a lot of trading activity when there is increased volatility. E-commerce transactions You might choose to pay with Bitcoin since it is usually faster and more convenient than credit cards.

Low-value payments Due to the fixed costs involved with credit cards and most types of banking, it has thus far been nearly impossible to pay small amounts of money for things like digital content. There are different types of Bitcoin wallets.

Suggested wallets Luno hybrid: Luno Luno is a really impressive Bitcoin company, and not just by local standards.