How to Buy Cryptocurrency in South Africa? A Step by Step Guide
If you’re looking for a quick and easy guide on how to buy cryptocurrency in South Africa, you’ve come to the right place. Purchasing cryptocurrency is a much easier task than you may think. Here, Easy Crypto makes buying Bitcoin and over 100 other cryptocurrencies cheap, easy and fast.
How to get started with cryptocurrency?
It is always recommended that you do as much research as you can on the cryptocurrencies you are buying. By doing this you ensure that you are only investing in high-quality cryptocurrencies and are avoiding scams.
Before you can buy cryptocurrency you’ll need to set up a cryptocurrency wallet that is available in South Africa where you can safely store your funds. We’ve also got some great guides explaining software and hardware cryptocurrency wallets. If you are investing a large sum of money a hardware crypto wallet is the way to go! They will provide a significant increase in the security of your funds.
How to buy cryptocurrency in South Africa?
Time needed: 2 minutes.
To buy cryptocurrency in South Africa with Easy Crypto, you can follow these easy steps below:
- Sign up
Start off by signing up using your email, Google account, or any of the other options we have available.
- Verify your account
To do this you’ll need to submit a picture of your South African ID, passport or drivers license. You’ll be able to start purchasing any cryptocurrency once the documents you submitted have been verified. This shouldn’t take long at all 🙂
For further information, you can visit the Easy Crypto’s account verification guidance with Sumsub.
- Make the order
The next step is deciding which cryptocurrencies you’d like to buy. Once you’ve done your research take a look at the cryptocurrencies we have to offer. Once you’ve decided which cryptocurrencies you’d like to buy, simply enter the amount you will be buying along with an address and then choose one of our payment methods.
You can currently choose between 2 different payment methods when buying cryptocurrency on Easy Crypto. These include SiD EFT and manual bank deposits (Based on internal testing, we found that SiD EFT’s tend to process quicker than manual bank deposits).
Should I buy a cryptocurrency in 2020?
Well, you’re the only one who can decide that. Over the past 11 years, the price of Bitcoin has surged over 9,000,000%, going from R0 to nearly R200,000 at today’s current price.
However, it is important to realize that just like any other investment, there is a certain level of risk involved. Bitcoin is still down roughly 50% from it’s 2017 all-time high. Although the price has not recovered as of yet, that is not to say that it will never recover. It’s up to you to decide how you think cryptocurrencies will perform as an investment over the coming years.
If history repeats itself and the price of cryptocurrencies do explode, buying the right cryptocurrencies now could be a great investment.
So, what will be your choice? Are you going to buy Bitcoin in South Africa today? Or any other cryptocurrency in South Africa?