How to buy Bitcoin in South Africa

How to buy Bitcoin in South Africa
Bitcoin has become a safe haven for many South African investors. Whilst some earn extra income, others invest in Bitcoin as part of their long-term savings such as retirement. This may be due to current political turmoil that has seen consumer confidence reaching a low point. Whilst the crypto market may be volatile, for those who do not have weak hands, it can be extremely profitable. Bitcoin has become part of a smart investor’s diverse portfolio. Today we take a look at how to buy Bitcoin in South Africa.

How to buy Bitcoin in South Africa in 3 easy steps

1. Sign up on AltCoinTrader

Registering on AltCoinTrader is very easy and only takes a couple of minutes. There are numerous reasons why you should buy Bitcoin with AltCoinTrader:

  1. AltCoinTrader uses the latest technology to ensure a secure platform.
  2. The exchange is very user friendly making it easy and fast to buy your favourite cryptocurrencies.
  3. AltCoinTrader offers 24 cryptocurrencies for investors to hodl or trade, as well as Gold and Silver.
  4. Trade on the go with AltCoinTrader’s new Android app. Download the app on your Android device from the app store.

2. Deposit funds

Once your account is all set up and ready to go, you can deposit money into your account. You can deposit funds from various South African online banking platforms, by making an EFT payment. Be sure to use your unique reference number so that the funds can be allocated to your AltCoinTrader account.

You do not have to buy one whole Bitcoin. You can make a deposit from as little as R10 to R200 000 for example, to buy Bitcoin in fragments.

3. Buy Bitcoin

Buying Bitcoin is easier than most think. Once the funds reflect in your AltCoinTrader wallet, you can buy Bitcoin.

Go to the Bitcoin / ZAR chart. You will see there are two options – Buy BTC and Sell BTC. At “Amount”, put in the amount of Bitcoin you would like to buy. Under “Price” section, select the price at which you would like to purchase Bitcoin. The “Total” should not be more than what is available in your wallet/account. Click “Buy BTC” and voila!

If you wish to sell Bitcoin, you would do so under the “Sell BTC” section that is conveniently located next to the “Buy BTC” section. The same rules apply. It is important to always Do Your Own Research (DYOR) before investing in cryptocurrencies and to set stop losses.

Remember there are a number of Technical Indicators on AltCoinTrader that is of great help when deciding whether or not to buy or sell a specific cryptocurrency. They will give you an indication if a particular cryptocurrency is about to go up in price or down. Trust us, Technical Indicators are a trader’s best friend!

Should you need further assistance to buy Bitcoin on AltCoinTrader, simply go to the AltCoinTrader’s Help Centre and you will be ready to go in no time.