Last updated on March 14th, 2023 at 08:25 am
In this blog post, you will learn about the best apps to buy crypto in South Africa. Buying cryptocurrency can be an intimidating process. There are so many options to choose from, and some of them might not even be legitimate!
This blog post will give you five apps that you should download right now if you’re looking for a place to buy crypto.
We’ll also go over the pros and cons of each app so that you know what your best option is before downloading an application on your phone or tablet.
1). Coinbase – best app to buy crypto in South Africa
If you’re new to cryptocurrency, Coinbase is one of the best places for you to start.
It’s a secure website and app that allows users with a U.S bank account or a credit/debit card from almost any country around the world (with some exceptions) to purchase Bitcoin, Ethereum, Litecoin and more using their local currency with zero fees.
The best part about Coinbase South Africa is that it has an incredibly user-friendly interface – perfect for beginners!
You can set up price alerts so that your phone will remind you when prices reach certain levels; send/receive funds via QR code quickly; view real-time market data on cryptos while also having access to recent news articles related specifically to Coinbase.
Pros: best apps to buy crypto in South Africa, secure website and app, supports many countries around the world
Cons: fees are not zero for this one! You have to pay a fee if you purchase using your credit/debit card.
However, they will refund you the difference after making your first transaction of $100 or more through their affiliate link here!
So even though there is no way to avoid paying some kind of fees while buying cryptocurrency on Coinbase – it still has all that convenience that beginners need when learning about digital currencies for the very first time!
This should definitely be an app that’s downloaded onto every newbie’s mobile device (even if only to get started)!
Cost: Typically at least 1.99 percent (lower with Coinbase Pro)
Coins available to trade: A whopping 96, including Bitcoin, Ethereum, Cardano and Solana
2). Binance App – best apps to trade crypto in South Africa
This is an app that was designed specifically for cryptocurrency traders.
Binance has a user-friendly interface and you can purchase the most popular digital currencies on this application.
However, Binance does have quite high fees when compared with Coinbase – so if your main reason for downloading the app is to save money while buying cryptocurrencies – then it might not be worth it!
It’s best used as a secondary exchange platform where users will go after they’ve purchased their first coins using something like Coinbase or Kraken.
You should also consider using Binance over other exchanges due to its low latency (the time between new orders being placed and filled) which ensures that all trades are done at very competitive prices.
Pros:
- Low non-instant and instant buy fees
- Extremely large coin selection
- Numerous extra services
Cons:
- Hiccups in account verification
- Not available in the US
- Non-transparent corporate structure
3). eToro – best social apps for crypto in South Africa
eToro is a social trading platform that allows you to access the knowledge and strategies of other cryptocurrency traders as well as practice copy-trading (allowing users to automatically duplicate trades made by qualified investors).
While it might not be ideal for beginners – eToro has the most diverse offering out of all four platforms we’ve listed thus far!
It’s free, secure, and also offers some interesting features like the best apps to buy crypto in South Africa: copying successful traders; charting tools; building personal watchlists.
Cost: Commission-free, but spread markup ranging from 0.75 to 5 percent
Coins available to trade: 29 cryptos, including Bitcoin, Ethereum, Dogecoin, and more
Pros: user-friendly website interface
Cons: Best suited for more advanced traders
4). Kucoin App – best app for trading crypto in SA
Kucoin is another exchange that has been designed for cryptocurrency traders.
The best part about Kucoin?
Fees are super low!
In fact, the only fees you’ll have to pay on this platform will be when your order gets executed (essentially, if nothing happens and it fails).
This makes it a great alternative to Binance in South Africa which we’ve covered above – but with lower latency.
So while there isn’t much of a difference between the two exchanges from a beginner’s perspective – this should definitely be an app that’s downloaded onto every newbie’s mobile device!
Pros: best apps to buy crypto in South Africa; crazy low fees when compared with other platforms
Cons: Best suited for more advanced users
5). Voyager App – best for mobile traders in South Africa
Voyager is a new cryptocurrency platform that plans on disrupting the way we currently do things.
Voyager is a mobile crypto broker that lets you trade more than 60 cryptocurrencies.
The app also offers interest rewards, and institutional clients can utilize several crypto services. You’ll only need $10 to trade assets like bitcoin, ethereum, litecoin, and dogecoin.
6). Gemini
Gemini is another cryptocurrency exchange that has been created with the aim of catering specifically to the best apps to buy crypto in South Africa.
This platform was developed by some of the best minds in finance and technology (the Winklevoss Twins).
So if you’re looking for a secure, reliable option – Gemini will definitely be one of your best options!
Pros: best apps to buy crypto in South Africa; good security
Cons: not as beginner-friendly
7). Kraken App
Kraken is another cryptocurrency exchange that works best for the best apps to buy crypto in South Africa traders.
It’s even been recommended by some of the most influential people within the industry such as Laura Shin (an award-winning financial journalist), Nathaniel Popper (New York Times best-selling author), and Eugene Kim (Entrepreneur).
So if you’re looking for a safe, secure option with low fees – Kraken could be your best bet!
Cost: Fee of 1.5 percent, plus fees for cards and online banking (lower with Kraken Pro)
Coins available to trade: 87 of them, including Bitcoin, Ethereum, Solana, and Uniswap
Pros: good security
Cons: not beginner-friendly
These best apps to buy crypto in South Africa will help you get started with digital currencies.
We recommend starting off by downloading Coinbase and Binance initially when learning about cryptocurrencies for the first time!
Types of Crypto Applications
All life must be simplified eventually. One of the major, inevitable parts of life is becoming a crypto trader or investor.
To ensure success, there are a handful of tools that can help you to understand crypto markets better.
The world of crypto is complicated enough without worrying about exchanging or storing your currency. Thankfully, there are various tools for you to simplify the process.
1). Cryptocurrency Exchanges
A cryptocurrency exchange is a website that lets users trade cryptocurrencies for other assets, such as conventional fiat money or other digital currencies.
2). Cryptocurrency Wallets
A cryptocurrency wallet is a software program that stores private and public keys and interacts with various blockchains to enable users to send and receive digital currency.
One of the most common types of wallets is hardware wallets, which store a user’s private keys on a physical piece of equipment like a USB drive.
3). Portfolio Trackers
A cryptocurrency portfolio tracker is a type of app that tracks the value and performance of different digital currencies.
Some popular apps include Blockfolio, CoinTracking, Crypto Pro: Bitcoin Ticker & Portfolio, Delta – Bitcoin & Cryptocurrency Tracker, and Abra – Digital Money Wallet App.
Crypto Pro: Bitcoin Ticker & Portfolio provides users with up-to-date information on over 700 cryptocurrencies and price alerts for any coin you monitor or track!
Users can also set custom push notifications to alert them when one of their favorite coins drops in value by 25% or more.
Moreover, it has become increasingly important for investors who own multiple types of digital currency wallets to keep an eye on them all at once.
4). Lending Platforms
Cryptocurrency lending platforms serve as a marketplace where users can borrow and lend cryptocurrencies for interest.
These types of applications typically work by matching lenders who are willing to loan their digital currency with borrowers who need cryptocurrency to fund some type of blockchain-related project or purchase. Some popular crypto lending platforms include Celsius, Nexo, BitBond, and SALT Lending.
Lenders on the platform have access to detailed information about potential borrowers including credit scores based on how timely they repay previous loans along with public reputation ratings from other members of the community.
In addition, all transactions occur via smart contracts which means that funds will be released once both parties agree upon mutually beneficial terms without any third party involvement!
What to Look for in a Cryptocurrency App
A cryptocurrency app that offers a comprehensive overview of the market is always better.
There are many types of digital currency apps available, so you will need to choose one with features relevant to your needs.
Some have more advanced functions than others, but all offer real-time updates on prices and charts based on live data from multiple exchanges around the world.
The best ones also allow you to track markets over different timeframes, so checking how much an asset has changed in 24 hours or longer can be easier than looking at minute-by-minute movements across various exchanges simultaneously.
a). Security – make sure the app is secure.
b). Usability – how easy it is to use.
c). Privacy – does this app keep your privacy in mind?
d). Exchange Support – support for multiple exchanges would be a plus.
e) Volume of Trades Supported – look at the volume supported by the exchange that is being offered in trade through their cryptocurrency trading application.
f.) Charting options/ Technical Analysis Options- do they have charts, but more importantly what types of technical analysis can you perform on them with these charts?
g.) Mobile Trading Transfers and Payments- if you are going to be using an app for day or short term trades then having mobile payment functionality within the exchange might come in handy when out
Final thoughts
Trading cryptocurrencies is risky.
There are many ways to do it, but most people rely on exchanges like Coinbase and Binance.
The problem with these sites is that they often get overloaded when the market goes wild, which makes them unusable for several hours during high traffic times.
This means you could miss out on a lot of trades or pay huge fees if there’s an Ethereum backlog at your chosen exchange.
You might be wondering what other options exist?
Well…If you want to trade cryptocurrency in South Africa without relying on third-party websites then you should download Trust Wallet, formerly known as “Breadwallet” (iOS only.)
It enables users to send and receive various types of tokens while avoiding the risks of using an exchange.
Trust Wallet is a secure mobile Ethereum wallet that supports Ethereum and over 20,000 tokens.
It provides full control over your private key with a 12-word recovery phrase which you can use to recover access to all your tokens in case you misplace or lose your phone.
Additionally, it has built-in support for converting ETH into BTC or ETC through ShapeShift so users don’t need multiple wallets on their phones if they want to trade different cryptocurrencies.
The app also allows you to buy crypto from Coinbase directly from the app itself so there are no annoying third parties involved at any point throughout the entire process!
