When learning how to acquire cryptocurrency in South Africa, it’s only natural that we use an example to demonstrate the procedure.
As a result, we’ll show you how to buy Lucky Block, one of the most undervalued crypto currencies in 2022.
Step 1: Go to Lucky Block– Currently, Lucky Block is not listed on any centralized exchange. Instead, it’s still in the pre-sale stage, so you can get Lucky Block tokens via the project’s website.
Step 2: Unlock Wallet– You must have BNB in your bitcoin wallet to purchase Lucky Block during the pre-sale period. By pressing the ‘Unlock Wallet’ button, you can select your favorite wallet.
Step 3: Enter the Number of Tokens– Now that your wallet is safely linked to Lucky Block, you can enter the number of BNB tokens you want to exchange for L Block.
Step 4: Purchase the Lucky Block– You must confirm your purchase before your Lucky Block tokens are issued to your wallet.
The example above demonstrates how to buy cryptocurrency in South Africa in a straightforward and hassle-free manner.
If you need more information, scroll down.
First, choose a cryptocurrency.
If you’re new to cryptocurrency trading, you might be startled to learn that there are now thousands of digital tokens available for purchase and sale on the internet.
As a beginner, selecting the right cryptocurrency to add to your financial portfolio might be difficult.
If you’re looking for some ideas, the five crypto currencies listed below are regarded top-rated digital assets for 2022.
- Block of Luck
Lucky Block is a brand new blockchain project that is developing a decentralized lottery game with global access. The underlying technology relies on generated from various contracts to ensure that each lottery game is completely random.
In other words, no single person has the ability to influence the outcome of Lucky Block games, so players from all over the world may be confident that the results are transparent, fair, and devoid of bias.
Another intriguing feature of Lucky Block is that its lotteries are not controlled by national governments, as they are in the classic version of the game. As a result, jackpot awards are projected to be substantial. Lucky Block’s pre-sale debut is still giving a discounted purchase price.
As a result, Lucky Block could be an excellent choice when deciding which crypto currency to purchase right now.
- Bitcoin
If you’re just getting started with crypt currencies in South Africa, you’ve almost certainly come across Bitcoin. After all, Bitcoin is the most well-known and largest virtual currency in pricing and market capitalization.
Bitcoin was first introduced in 2009, making it the most well-known cryptocurrency on the market. Bitcoin hasn’t increased as much as other digital currencies in this space in terms of gains over the last 12 months, with an increase in price of only 25%.
3. Ripple
Ripple is a multi-billion-dollar cryptocurrency that debuted in 2012. Ripple’s core notion is that it allows huge financial institutions to do cross-border transactions at a low cost and in a very short time.
Ripple transactions are so cheap that they only cost a fraction of a cent and take less than five seconds to complete. XRP is the fundamental cryptocurrency token that powers the Ripple architecture. XRP has surged in value by almost 160 percent in the last year.
4. Cosmos
Cosmos is another cryptocurrency worth considering for your portfolio in 2022. This digital asset makes it feasible for competing blockchain to speak with one another, which has never been done before.
Synergy is the term for this procedure, and many believe it will play a significant part in the future of blockchain technology.
Cosmos is supported by ATOM, its native token, which has done exceptionally well in recent years. In fact, if you had invested in Cosmos in mid-2020, when it was originally listed on public exchanges, your money would be worth 430 percent more now.
Dogecoin
Dogecoin is a well-known cryptocurrency that was initially introduced in 2013. When Elon Musk was quoted as claiming that he owned Dogecoin in addition to Bitcoin and Ethereum in early 2021, this digital currency went widespread.
This was followed by a series of Tweets and interviews in which Musk expressed his continuous enthusiasm for Dogecoin. As a result, Dogecoin’s value increased by almost 14,000 percent in the first few months of 2021 alone.
Step 2: Purchase Bitcoin
If you are absolutely new to this business, the process of learning how to buy cryptocurrency can be intimidating.
The good news is that by adopting the step-by-step walk-throughs detailed here, you can make the investment process much easier.
Purchase Lucky Block
We’ll show you how to buy Lucky Block in this mini-walkthrough.
- Go to the Lucky Block Pre-Sale webpage.
Because Lucky Block has yet to list on a public exchange, the project is offering its cryptocurrency for pre-sale on its website. As a result, visit the Lucky Block pre-sale website to begin the investing process.
- Link Your Wallet
To participate in the project’s pre-sale, you’ll need to link your wallet to the Lucky Block site. You can select the wallet you want to use after pressing the ‘Unlock Wallet’ button.
- Place a stake
You will now be prompted to enter your preferred investment amount in BNB in a box. The minimum investment is only 0.16 BNB if you want to keep your investments low.
- Purchase Lucky Block
The last step is to double-check your investment amount.
In less than five minutes, the Lucky Block tokens that you just purchased should be in your wallet.
1. Check out Capital.com Account Capital.com is a highly regulated CFD broker, thus the first step is to create an account by entering personal and contact information.
Upload a copy of your state ID for KYC purposes. Capital.com should immediately verify this, so you’ll be ready to go in under two minutes.
2. Make a deposit
You can deposit $20 or more into your freshly created Capital.com account using a debit/credit card or an e-wallet.
Alternatively, if you want to send money via bank wire, the minimum is $250. Capital.com does not impose any deposit fees in either case.
3. Look for a Crypto Market.
You can now look for the cryptocurrency market that you’re interested in.
We want to trade Ethereum against the South African rand in the example above, so we search for ‘ETHZAR.’
4. Cryptocurrency Trading
You must now set up your cryptocurrency trade. Click the ‘purchase’ button if you believe the value of your chosen cryptocurrency will rise.
Confirm your order after entering your desired stake.
Step 3: South Africa’s Best Crypto Exchange
Choosing a trustworthy cryptocurrency exchange is one of the most crucial considerations to make while learning how to buy bitcoin in South Africa.
Because traders in South Africa have access to a wide range of exchanges, it’s recommended to concentrate on platforms with minimal costs and a large number of supported marketplaces.
Below is a list of the best cryptocurrency exchanges in South Africa.
1. Capital.com – The Best Crypto Trading Platform in South Africa
There are numerous advantages to using a CFD broker rather than a typical crypto exchange. You will receive exposure to your desired market even if you do not possess the underlying digital currency that you wish to trade. And, unlike most interactions,
Capital.com is a highly regulated website. Furthermore, this broker does not charge a commission while trading cryptocurrency.
Another advantage of trading crypto CFDs at Capital.com is the ability to use leverage. This means you can increase the size of your wager. Furthermore, you can enter your trade with a buy or sell order, allowing you to target profits regardless of whether the crypto markets are up or down.
Another significant advantage of using Capital.com is that you will have access to around 400 cryptocurrency CFD markets. Even crypto pairings including the South African rand are included. You can trade CFDs in the form of currencies, ETFs, stocks, and commodities in addition to crypto.
Capital.com accepts a wide range of payment options, including debit/credit cards and electronic wallets.
2. Binance – South Africa’s Best Bitcoin Exchange with Low Fees
If you’re looking for a traditional cryptocurrency exchange in South Africa, Binance is a good option. Binance is the largest exchange in the world in terms of client accounts and trading volume. There are over 1,000 trading marketplaces here, which is excellent for diversification.
Binance charges a 0.10 percent commission per slide when it comes to fees. This implies you’ll have to pay the commission both when you enter and exit a trade. South Africans who want to profit from their cryptocurrency investments go to Binance. This is due to Binance’s wide range of cryptocurrency savings accounts.
Where can I get Bitcoins in South Africa?
When studying how to buy Bitcoin in South Africa, there are numerous factors to consider. The type of platform you use to execute your trading orders is at the forefront of this.
Traditional bitcoin exchanges have a major flaw: they are not completely secure. We learn about exchanges getting hacked all the time, which indicates your money, is at stake.
As a result, we prefer CFD brokers such as Capital.com that allows you to trade digital currencies without owning any tokens. Because the tokens do not exist, there is no need to be concerned about wallet security or hacker efforts.
Additionally, whenever you trade crypto CFDs at Capital.com, you will pay no commission. You can also short-sell and use leverage in your trades.
Conclusion
This quick introduction to buying cryptocurrency in South Africa explains the fundamentals you ought to know before getting started.
If you’re ready to begin trading crypto assets right now, Capital.com allows you to do so without paying a commission. In a highly regulated atmosphere, this highest CFD broker offers nearly 400 crypto markets.
Consider purchasing crypt currencies before it gains mass usage and is listed on a prominent exchange to achieve a strong return on investment (ROI) in 2022 – When that happens, you’ll be able to sell it for a premium price.