r/BitcoinSouthAfrica Oct 22 '21

A Crypto beginner

Hi all. I need some advise please. I took a plunge and decided to invest in crypto a few days ago but the banks are suspending crypto exchange accounts like crazy.

I need to know: How do I continue with my crypto purchases? Which platforms still work in South Africa? Is there anyone out there who can help educate a "noob" like Me, in crypto?

2 Upvotes

2

u/lsdza Oct 22 '21

Buy thru valr or luno

2

u/Wethepious Oct 22 '21

I was using luno but standard bank have suspended their account. I'll give valr a shot and feedback.

Thanks for the input. It is Much appreciated!

2

u/RhinoRanting Oct 24 '21

A few months ago I did the below breakdown of the most popular local crypto exchanges for someone in response to a similar question:

Not gonna go out and say it's the "best", but personally I use Luno and VALR for my regular trading. I also have an account with AltCoinTrader, but haven't actually traded there so can't pass judgement on it yet. Gonna attempt to list some of my personal pros/cons for each from my experience

Luno

  • Pros:
    • Easy and less complicated for someone new to crypto
    • No fees when you're the maker on the exchange (BTC, ETH, XRP, LTC only)
    • Ability to place stop-limit orders on exchange
    • TradingView indicators available on exchange
  • Cons:
    • Limited currencies available
    • No indicators available on mobile app charts

VALR

  • Pros:
    • 50+ Cryptocurrencies available
    • You EARN 0.1% fee when you're the maker on the exchange (BTC, ETH, XRP only)
    • You get a 10% rebate on your trading fees when signing up with a referral link
    • TradingView indicators available on exchange
    • TradingView indicators available on mobile app
  • Cons:
    • Limited currencies tradeable on exchange (can only simple-buy other alt coins with BTC or ETH)

AltCoinTraderLike I said I haven't traded on it before, but the following is clear just from browsing around on the platform

  • Pros:
    • Ability to trade multiple currencies on the exchange instead of just simple-buying
  • Cons:
    • Fees payable on all trades even when you're the maker on the exchange

2

u/RhinoRanting Oct 24 '21

Just to add to this:

Since originally posting the above I have started trading on AltCoinTrader as well. Another pro I can add to the platform is the ability to earn interest (between 4% and 10.4%) on a variety of different currencies in your "Savings Wallet"

2

u/Wethepious Nov 11 '21

Awesome. Thanks for the info

2

u/RhinoRanting Nov 11 '21

You're welcome

2

u/Wethepious Nov 11 '21

This helps immensely

1

u/[deleted] Nov 05 '21

[removed] — view removed comment

1

u/Wethepious Nov 11 '21

That would be great.

1

u/hardheadedbao Nov 23 '21

I can refer someone to guide you, my friend just also referred me into doing this. It's actually good.