What Cryptocurrencies Should I Buy in South Africa? (2021)
As of April 2021, there are over 9,500 different cryptocurrencies in circulation, it can be hard to choose what ones you should buy in South Africa.
To help you narrow down which ones to invest in and add to your portfolio, we’ve picked the top 3 cryptos for you to consider buying in South Africa.
The cryptocurrencies we list below are well known and for a good reason. They are each different projects that have a high potential for growth in the future, so you may consider adding them to your portfolio.
Conceived in 2008 during the global financial crisis, Bitcoin was the first cryptocurrency ever created. Since then, it’s paved the way for the two thousand or so other cryptocurrencies that have spawned since Bitcoins inception.
Bitcoin (BTC) is commonly referred to as digital gold, as it shares many of gold’s qualities, and objectively some better ones too.
Bitcoin is currently the most popular digital asset that people buy through us, at least partly due to the growing belief that Bitcoin is on the forecast for becoming the next Global Reserve Currency.
Invest today: Click here to purchase Bitcoin in South Africa.
Ethereum (ETH) is what could be referred to as a ‘Smart Coin’, as Ethereum doesn’t only act as a payment network, but also as an infrastructure for many other applications — such as smart contracts (a contract that is enforced by strict computer logic).
Ethereum’s utility doesn’t stop at futuristic digital contracts though, as ETH’s use cases go far beyond. Ethereum can be used with digital identity, autonomous organisations, politics, data storage, ICO’s, gaming and beyond.
It’s difficult to paint the big picture of Ethereum in a few sentences, but since I got involved in cryptocurrency when somebody asks me what the future looks like, I typically go straight to thinking about Ethereum and its use cases.
Invest in ETH: Click here to buy Ethereum in South Africa.
Ripples’ XRP is the native token for the Ripplenet — a network of payment providers such as banks and money services that aim to provide a frictionless experience to send money globally.
Often referred to as the ‘Banks Coin’, XRP is designed to be ultra-fast, ultra-cheap and ultra-scalable. It currently takes an average of 4 days to make an international bank transfer, but XRP transactions are settled in seconds. For this reason, over 200 major world banks have partnered with XRP, including many well-known conglomerates such as ANZ, Westpac, Western Union, HSBC, and the Bank of America.
Other entities that are currently partnered with Ripple include The Bank of England, The Commonwealth Bank of Australia, JP Morgan, The Royal Bank of Canada, The National Bank of Abu Dhabi, Barclays, Sony Bank, The Bank of Thailand, Mitsubishi Corporation, and American Express.
Ripple certainly has an impressive list of partners testing XRP, and the list is growing at an average of 2-3 new partners per week.
The forecast for XRP appears to looks to be positive. It is generally agreed that the enormous international transaction pie is going digital, and currently Ripple’s XRP is the top contestant for taking the biggest slice. Good thing you can invest in it now!
Buy Ripple: Click here to buy XRP with ZAR in South Africa.
How to buy cryptocurrencies in South Africa
Now that you have a general idea on what crypto to buy in South Africa, the next step is to proceed with your purchase!
The safest and quickest way to buy cryptocurrency in ZA is through a secure cryptocurrency exchange. Here at Easy Crypto strive to deliver the best rates and services for our customers in South Africa.
Disclaimer: The discussions in this article are meant to serve as informational content only. They are not to be interpreted as investment or financial advice. As with any investment endeavor, it is best to conduct your own research.